{
 "documentInfo": {
  "documentType": "https://xbrl.org/2021/xbrl-json",
  "features": {
   "xbrl:canonicalValues": true
  },
  "namespaces": {
   "bava": "http://bavarian-nordic.com",
   "ifrs-full": "https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full",
   "iso4217": "http://www.xbrl.org/2003/iso4217",
   "scheme": "http://standards.iso.org/iso/17442",
   "xbrl": "https://xbrl.org/2021",
   "xbrli": "http://www.xbrl.org/2003/instance"
  },
  "taxonomy": [
   "http://bavarian-nordic.com/bava-2023-12-31.xsd"
  ]
 },
 "facts": {
  "fact2057": {
   "value": "Bavarian Nordic A/S \u00a0",
   "dimensions": {
    "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2058": {
   "value": "Bavarian Nordic A/S \u00a0",
   "dimensions": {
    "concept": "ifrs-full:NameOfParentEntity",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2059": {
   "value": "Bavarian Nordic A/S \u00a0",
   "dimensions": {
    "concept": "ifrs-full:NameOfUltimateParentOfGroup",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2060": {
   "value": "Philip Heymans Alle 3, DK-2900 Hellerup, Denmark",
   "dimensions": {
    "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2062": {
   "value": "Denmark",
   "dimensions": {
    "concept": "ifrs-full:CountryOfIncorporation",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2063": {
   "value": "Denmark",
   "dimensions": {
    "concept": "ifrs-full:DomicileOfEntity",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2064": {
   "value": "vaccineresearch, development, and manufacturing, we have \u00a0",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2066": {
   "value": "global",
   "dimensions": {
    "concept": "ifrs-full:PrincipalPlaceOfBusiness",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact1609": {
   "value": "7062340000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Revenue",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1610": {
   "value": "2459294000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CostOfSales",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1611": {
   "value": "4603046000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:GrossProfit",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1668": {
   "value": "3150793000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Revenue",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1669": {
   "value": "1449531000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CostOfSales",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1670": {
   "value": "1701262000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:GrossProfit",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1622": {
   "value": "1475189000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1681": {
   "value": "-347382000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1626": {
   "value": "-32555000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1627": {
   "value": "-4505000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1685": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1612": {
   "value": "331579000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Sellingexpenseanddistributioncosts",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1613": {
   "value": "2228080000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ResearchAndDevelopmentExpense",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1614": {
   "value": "540848000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdministrativeExpense",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1671": {
   "value": "212932000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Sellingexpenseanddistributioncosts",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1672": {
   "value": "1183092000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ResearchAndDevelopmentExpense",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1673": {
   "value": "376023000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdministrativeExpense",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1686": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1687": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1628": {
   "value": "-28050000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1629": {
   "value": "-31894000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:GainsLossesOnRecycledToFinancialItemsNetOfTax",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1688": {
   "value": "1351000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:GainsLossesOnRecycledToFinancialItemsNetOfTax",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1615": {
   "value": "3100507000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OperatingExpense",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1674": {
   "value": "1772047000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OperatingExpense",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1630": {
   "value": "45887000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:GainsLossesOnCashFlowHedgesNetOfTax",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1631": {
   "value": "34489000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1632": {
   "value": "48482000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1689": {
   "value": "31894000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:GainsLossesOnCashFlowHedgesNetOfTax",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1690": {
   "value": "7002000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1616": {
   "value": "1502539000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLossFromOperatingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1675": {
   "value": "-70785000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLossFromOperatingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1691": {
   "value": "40247000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1617": {
   "value": "112784000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:FinanceIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1618": {
   "value": "132380000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:FinanceCosts",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1676": {
   "value": "78537000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:FinanceIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1677": {
   "value": "339363000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:FinanceCosts",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1633": {
   "value": "20432000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1692": {
   "value": "40247000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1619": {
   "value": "1482943000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLossBeforeTax",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1678": {
   "value": "-331611000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLossBeforeTax",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1634": {
   "value": "1495621000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1693": {
   "value": "-307135000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1620": {
   "value": "7754000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1679": {
   "value": "15771000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1621": {
   "value": "1475189000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1680": {
   "value": "-347382000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1624": {
   "value": "19.2",
   "decimals": 1,
   "dimensions": {
    "concept": "ifrs-full:BasicEarningsLossPerShare",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK/xbrli:shares"
   }
  },
  "fact1625": {
   "value": "19.2",
   "decimals": 1,
   "dimensions": {
    "concept": "ifrs-full:DilutedEarningsLossPerShare",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK/xbrli:shares"
   }
  },
  "fact1683": {
   "value": "-4.9",
   "decimals": 1,
   "dimensions": {
    "concept": "ifrs-full:BasicEarningsLossPerShare",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK/xbrli:shares"
   }
  },
  "fact1684": {
   "value": "-4.9",
   "decimals": 1,
   "dimensions": {
    "concept": "ifrs-full:DilutedEarningsLossPerShare",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK/xbrli:shares"
   }
  },
  "fact1623": {
   "value": "1475189000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1682": {
   "value": "-347382000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1649": {
   "value": "298117000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:PurchaseOfIntangibleAssetsCopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsClassifiedAsInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1650": {
   "value": "536763000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1651": {
   "value": "142525000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1652": {
   "value": "1831573000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1653": {
   "value": "38706000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:CashFlowsFromUsedInDecreaseIncreaseInLongTermDepositsAndInvestments",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1708": {
   "value": "594920000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:PurchaseOfIntangibleAssetsCopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRightsClassifiedAsInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1709": {
   "value": "425411000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1710": {
   "value": "361244000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1711": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1635": {
   "value": "112784000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForFinanceIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1636": {
   "value": "132380000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForFinanceCosts",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1637": {
   "value": "7754000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForIncomeTaxExpense",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1694": {
   "value": "78537000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForFinanceIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1695": {
   "value": "339363000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForFinanceCosts",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1696": {
   "value": "15771000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForIncomeTaxExpense",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1712": {
   "value": "169460000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:CashFlowsFromUsedInDecreaseIncreaseInLongTermDepositsAndInvestments",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1713": {
   "value": "414613000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1714": {
   "value": "1088243000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1654": {
   "value": "10834000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1638": {
   "value": "1111504000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1639": {
   "value": "55477000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForSharebasedPayments",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1697": {
   "value": "399247000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1698": {
   "value": "49284000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForSharebasedPayments",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1655": {
   "value": "1912954000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1656": {
   "value": "-945564000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1715": {
   "value": "-877405000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1640": {
   "value": "-599015000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1641": {
   "value": "-1345427000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1642": {
   "value": "24744000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForProvisions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1699": {
   "value": "-439029000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1700": {
   "value": "-133167000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1701": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForProvisions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1657": {
   "value": "1105545000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1658": {
   "value": "240000000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1659": {
   "value": "34270000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1660": {
   "value": "45517000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:ProceedsFromExerciseOfWarrantsClassifiedAsFinancingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1716": {
   "value": "374339000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1717": {
   "value": "1003661000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1718": {
   "value": "21981000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1719": {
   "value": "37918000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:ProceedsFromExerciseOfWarrantsClassifiedAsFinancingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1720": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProceedsFromIssuingShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1643": {
   "value": "368739000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1702": {
   "value": "423407000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1644": {
   "value": "1118561000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInOperations",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1703": {
   "value": "228957000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInOperations",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1661": {
   "value": "1641913000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProceedsFromIssuingShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1662": {
   "value": "42795000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PaymentsForShareIssueCosts",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1663": {
   "value": "8988000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1721": {
   "value": "111000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PaymentsForShareIssueCosts",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1645": {
   "value": "63260000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:FinanceIncomeReceivedClassifiedAsOperatingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1646": {
   "value": "52412000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:FinanceCostsPaidClassifiedAsOperatingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1647": {
   "value": "10203000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1704": {
   "value": "18552000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:FinanceIncomeReceivedClassifiedAsOperatingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1705": {
   "value": "24244000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:FinanceCostsPaidClassifiedAsOperatingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1706": {
   "value": "3212000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1722": {
   "value": "9328000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1664": {
   "value": "735832000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1665": {
   "value": "909474000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1723": {
   "value": "635820000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1724": {
   "value": "-21532000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1648": {
   "value": "1119206000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1707": {
   "value": "220053000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1726": {
   "value": "575407000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1666": {
   "value": "-7647000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1727": {
   "value": "591820000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1725": {
   "value": "5119000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1728": {
   "value": "1477234000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1778": {
   "value": "575407000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1730": {
   "value": "4791442000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRights",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1731": {
   "value": "1286749000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:AcquiredRightsAndDevelopmentsInProgress",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1732": {
   "value": "12443000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComputerSoftware",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1780": {
   "value": "4639895000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CopyrightsPatentsAndOtherIndustrialPropertyRightsServiceAndOperatingRights",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1781": {
   "value": "1013484000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:AcquiredRightsAndDevelopmentsInProgress",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1782": {
   "value": "14768000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComputerSoftware",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1746": {
   "value": "1643736000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Inventories",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1796": {
   "value": "919072000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Inventories",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1747": {
   "value": "1778104000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentTradeReceivables",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1748": {
   "value": "84000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentTaxAssetsCurrent",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1797": {
   "value": "523145000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentTradeReceivables",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1798": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:CurrentTaxAssetsCurrent",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1733": {
   "value": "391102000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IntangibleAssetsUnderDevelopment",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1783": {
   "value": "274490000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IntangibleAssetsUnderDevelopment",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1749": {
   "value": "95136000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherCurrentReceivables",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1799": {
   "value": "43263000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherCurrentReceivables",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1800": {
   "value": "153934000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentPrepayments",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1801": {
   "value": "720342000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:TradeAndOtherCurrentReceivables",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1734": {
   "value": "6481736000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IntangibleAssetsAndGoodwill",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1784": {
   "value": "5942637000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IntangibleAssetsAndGoodwill",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1750": {
   "value": "18510000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentPrepayments",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1735": {
   "value": "987013000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:LandAndBuildings",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1736": {
   "value": "25047000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:LeaseholdImprovements",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1785": {
   "value": "630138000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:LandAndBuildings",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1786": {
   "value": "24765000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:LeaseholdImprovements",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1751": {
   "value": "1891834000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:TradeAndOtherCurrentReceivables",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1752": {
   "value": "390247000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:CurrentSecurities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1729": {
   "value": "1477234000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1753": {
   "value": "1867481000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:CurrentSecuritiesAndCashAndCashEquivalents",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1802": {
   "value": "2269759000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:CurrentSecurities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1779": {
   "value": "575407000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1737": {
   "value": "412674000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Machinery",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1738": {
   "value": "696060000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:FixturesFittingsToolsAndEquipment",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1739": {
   "value": "206721000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ConstructionInProgress",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1787": {
   "value": "321745000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Machinery",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1788": {
   "value": "511195000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:FixturesFittingsToolsAndEquipment",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1789": {
   "value": "196130000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ConstructionInProgress",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1803": {
   "value": "2845166000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:CurrentSecuritiesAndCashAndCashEquivalents",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1740": {
   "value": "2327515000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PropertyPlantAndEquipment",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1790": {
   "value": "1683973000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PropertyPlantAndEquipment",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1754": {
   "value": "5403051000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentAssets",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1804": {
   "value": "4484580000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentAssets",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1755": {
   "value": "14353213000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Assets",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1805": {
   "value": "12391246000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Assets",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1741": {
   "value": "125170000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:RightofuseAssets",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1791": {
   "value": "67433000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:RightofuseAssets",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1742": {
   "value": "11185000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherNoncurrentReceivables",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1743": {
   "value": "4556000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentPrepayments",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1792": {
   "value": "5086000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherNoncurrentReceivables",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1793": {
   "value": "207537000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentPrepayments",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1794": {
   "value": "212623000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentFinancialAssets",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1744": {
   "value": "15741000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentFinancialAssets",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1745": {
   "value": "8950162000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentAssets",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1795": {
   "value": "7906666000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentAssets",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1756": {
   "value": "780978000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IssuedCapital",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1757": {
   "value": "1537000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:TreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1806": {
   "value": "707354000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IssuedCapital",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1807": {
   "value": "1463000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:TreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1768": {
   "value": "1360133000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:CurrentDeferredConsideration",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1769": {
   "value": "1913000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Shorttermborrowingsfromcreditinstitutions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1818": {
   "value": "287436000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:CurrentDeferredConsideration",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1819": {
   "value": "1105583000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Shorttermborrowingsfromcreditinstitutions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1820": {
   "value": "24487000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentLeaseLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1821": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:CurrentAdvances",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1758": {
   "value": "9330002000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:RetainedEarnings",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1759": {
   "value": "230489000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherReserves",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1808": {
   "value": "6300575000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:RetainedEarnings",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1809": {
   "value": "143521000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherReserves",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1770": {
   "value": "44633000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentLeaseLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1771": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:CurrentAdvances",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1772": {
   "value": "954142000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1773": {
   "value": "7205000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1822": {
   "value": "605928000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1823": {
   "value": "6337000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1760": {
   "value": "10339932000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1810": {
   "value": "7149987000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1774": {
   "value": "419843000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1775": {
   "value": "2787869000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1824": {
   "value": "257569000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1825": {
   "value": "2287340000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1761": {
   "value": "1016856000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:NonCurrentDeferredConsideration",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1762": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:PrepaymentAndLoanFromGovernment",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1811": {
   "value": "2324657000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:NonCurrentDeferredConsideration",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1812": {
   "value": "566420000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:PrepaymentAndLoanFromGovernment",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1813": {
   "value": "17008000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Longtermborrowingsfromcreditinstitutions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1814": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentProvisionsForEmployeeBenefits",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1776": {
   "value": "4013281000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Liabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1826": {
   "value": "5241259000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Liabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1763": {
   "value": "15135000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Longtermborrowingsfromcreditinstitutions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1764": {
   "value": "80732000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentProvisionsForEmployeeBenefits",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1765": {
   "value": "29068000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:DeferredTaxLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1766": {
   "value": "83621000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentLeaseLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1767": {
   "value": "1225412000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1777": {
   "value": "14353213000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:EquityAndLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1827": {
   "value": "12391246000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:EquityAndLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1815": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:DeferredTaxLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1816": {
   "value": "45834000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentLeaseLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1817": {
   "value": "2953919000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact2067": {
   "value": "<div class=\"stl_01\" style=\"left:55.748em;top:10.3843em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0256em;\">The share capital comprises a total of 78,097,834 shares \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.2174em;\"><span class=\"stl_532 stl_08 stl_39\" style=\"word-spacing:-0.0232em;\">of DKK 10 as of December 31, 2023 (70,735,376 shares). \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.0505em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">The shares are not divided into share classes, and each \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.8836em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">share carries one vote. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:14.5449em;\"><span class=\"stl_585 stl_15 stl_58\" style=\"word-spacing:-0.0288em;\">Treasury shares \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:15.3836em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">In May 2023, the Board of Directors decided to launch \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.2168em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">a share buy-back program, under which the Company \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.0499em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">bought back 43,954 of its own shares (71,562 shares \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.883em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">in 2022). The purpose of the share buy-back program \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:18.7161em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">was to meet the Company's obligations arising from \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:19.5493em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">the share-based incentive program for the Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:20.3824em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">Management and the Board of Directors. Under the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:21.2155em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0283em;\">share-based incentive program, payment of half of the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:22.0486em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">achieved bonus for 2022 for members of the Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:22.8818em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">Management are converted to restricted stock units for \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:23.7149em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">a value corresponding to half of the achieved bonus. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:24.548em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">The restricted stock units will be released to the Exec- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:25.3811em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">utive Management 3 years after grant. This to further \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:26.2143em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">increase the long-term shared interests between the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:27.0474em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Executive Management and the Company's share- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:27.8805em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">holders. The Board of Directors is granted restricted \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:28.7136em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">stock units corresponding to 50% of the annual fee \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:29.5468em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0252em;\">(excl. committee fee). The vesting period for those \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:30.3799em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">restricted stock units is also 3 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:32.0468em;\"><span class=\"stl_532 stl_08 stl_512\" style=\"word-spacing:-0.0106em;\">Treasury shares represent 0.16% (0.18%) of the total \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:32.8799em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">share capital. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:34.5468em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">For further information about share based payment see \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:35.3799em;\"><span class=\"stl_532 stl_08 stl_300\" style=\"word-spacing:-0.0188em;\">note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:10.3843em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">The share capital comprises a total of 70,735,376 shares \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.2174em;\"><span class=\"stl_532 stl_08 stl_178\" style=\"word-spacing:-0.0242em;\">of DKK 10 as of December 31, 2022 (70,468,393 shares). \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.0505em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">The shares are not divided into share classes, and each \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.8836em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">share carries one vote. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:14.5449em;\"><span class=\"stl_585 stl_15 stl_441\" style=\"word-spacing:-0.0379em;\">Rules on changing Articles of Association \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:15.3836em;\"><span class=\"stl_277 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">Changing the Articles of Association requires that the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.2168em;\"><span class=\"stl_277 stl_08 stl_53\" style=\"word-spacing:-0.0251em;\">resolution passes by at least 2/3 of the votes as well as \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.0499em;\"><span class=\"stl_277 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">2/3 of the voting capital represented. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact1828": {
   "value": "707354000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1829": {
   "value": "-1463000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1830": {
   "value": "6300575000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1831": {
   "value": "-23557000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1832": {
   "value": "31894000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1833": {
   "value": "135184000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1834": {
   "value": "7149987000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2068": {
   "value": "<div class=\"stl_01\" style=\"left:55.748em;top:14.5449em;\"><span class=\"stl_585 stl_15 stl_58\" style=\"word-spacing:-0.0288em;\">Treasury shares \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:15.3836em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">In May 2023, the Board of Directors decided to launch \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.2168em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">a share buy-back program, under which the Company \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.0499em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">bought back 43,954 of its own shares (71,562 shares \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.883em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">in 2022). The purpose of the share buy-back program \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:18.7161em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">was to meet the Company's obligations arising from \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:19.5493em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">the share-based incentive program for the Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:20.3824em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">Management and the Board of Directors. Under the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:21.2155em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0283em;\">share-based incentive program, payment of half of the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:22.0486em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">achieved bonus for 2022 for members of the Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:22.8818em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">Management are converted to restricted stock units for \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:23.7149em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">a value corresponding to half of the achieved bonus. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:24.548em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">The restricted stock units will be released to the Exec- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:25.3811em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">utive Management 3 years after grant. This to further \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:26.2143em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">increase the long-term shared interests between the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:27.0474em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Executive Management and the Company's share- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:27.8805em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">holders. The Board of Directors is granted restricted \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:28.7136em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">stock units corresponding to 50% of the annual fee \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:29.5468em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0252em;\">(excl. committee fee). The vesting period for those \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:30.3799em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">restricted stock units is also 3 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:32.0468em;\"><span class=\"stl_532 stl_08 stl_512\" style=\"word-spacing:-0.0106em;\">Treasury shares represent 0.16% (0.18%) of the total \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:32.8799em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">share capital. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:34.5468em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">For further information about share based payment see \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:35.3799em;\"><span class=\"stl_532 stl_08 stl_300\" style=\"word-spacing:-0.0188em;\">note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:10.3843em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">The share capital comprises a total of 70,735,376 shares \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.2174em;\"><span class=\"stl_532 stl_08 stl_178\" style=\"word-spacing:-0.0242em;\">of DKK 10 as of December 31, 2022 (70,468,393 shares). \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.0505em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">The shares are not divided into share classes, and each \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.8836em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">share carries one vote. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact1835": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1836": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1837": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1846": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1847": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1848": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1857": {
   "value": "1475189000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1858": {
   "value": "-28050000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1868": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1869": {
   "value": "34489000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1870": {
   "value": "34489000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1879": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1880": {
   "value": "13993000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1881": {
   "value": "13993000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1890": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1891": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1892": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1901": {
   "value": "1475189000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1902": {
   "value": "20432000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1859": {
   "value": "1447139000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1903": {
   "value": "1495621000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1838": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1849": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1860": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1861": {
   "value": "54856000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1871": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1872": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1873": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1874": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1875": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1876": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1877": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1878": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1882": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1883": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1884": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1885": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1886": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1887": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1888": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1889": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1893": {
   "value": "58677000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1904": {
   "value": "58677000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1905": {
   "value": "45517000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1906": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1839": {
   "value": "3156000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1850": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1851": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1894": {
   "value": "-12495000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1840": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1862": {
   "value": "1276000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1895": {
   "value": "-1276000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1841": {
   "value": "70468000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1852": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1863": {
   "value": "1571445000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1864": {
   "value": "42795000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1865": {
   "value": "8548000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1896": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1907": {
   "value": "1641913000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1908": {
   "value": "42795000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1909": {
   "value": "8988000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1910": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1842": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1853": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1897": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1898": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1843": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1844": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1854": {
   "value": "440000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1855": {
   "value": "366000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1856": {
   "value": "-74000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1866": {
   "value": "6054000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1899": {
   "value": "-6420000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1900": {
   "value": "38486000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1845": {
   "value": "73624000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1867": {
   "value": "1582288000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1911": {
   "value": "1694324000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1912": {
   "value": "780978000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1913": {
   "value": "-1537000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1914": {
   "value": "9330002000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1915": {
   "value": "10932000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1916": {
   "value": "45887000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1917": {
   "value": "173670000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1918": {
   "value": "10339932000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1919": {
   "value": "704684000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1920": {
   "value": "-1112000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1921": {
   "value": "6588908000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1922": {
   "value": "-30559000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1923": {
   "value": "-1351000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1924": {
   "value": "114097000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1925": {
   "value": "7374667000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1926": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1927": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1928": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1937": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1938": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1939": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1948": {
   "value": "-347382000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1949": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1959": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1960": {
   "value": "7002000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1961": {
   "value": "7002000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1970": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1971": {
   "value": "33245000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1972": {
   "value": "33245000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1981": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1982": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1983": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1992": {
   "value": "-347382000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1993": {
   "value": "40247000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1950": {
   "value": "-347382000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1994": {
   "value": "-307135000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1929": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1940": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1951": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1952": {
   "value": "46145000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1953": {
   "value": "17898000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1954": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1962": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1963": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1964": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1965": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1966": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1967": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1968": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1969": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1973": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1974": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1975": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1976": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1977": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1978": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1979": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1980": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1984": {
   "value": "53976000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1995": {
   "value": "53976000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1930": {
   "value": "2670000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1941": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1985": {
   "value": "-10897000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1996": {
   "value": "37918000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1931": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1942": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1943": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1986": {
   "value": "-17898000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1997": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1998": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1932": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1987": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:IssueOfEquityThroughPrivatePlacement",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1933": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1944": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1955": {
   "value": "111000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1988": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1989": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1999": {
   "value": "111000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2000": {
   "value": "9328000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2001": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1934": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1935": {
   "value": "0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1945": {
   "value": "716000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1946": {
   "value": "365000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1947": {
   "value": "-351000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1956": {
   "value": "8612000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1957": {
   "value": "3729000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1958": {
   "value": "59049000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1990": {
   "value": "-4094000",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1991": {
   "value": "21087000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1936": {
   "value": "2670000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2002": {
   "value": "82455000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2003": {
   "value": "707354000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2004": {
   "value": "-1463000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2005": {
   "value": "6300575000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2006": {
   "value": "-23557000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2007": {
   "value": "31894000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2008": {
   "value": "135184000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2009": {
   "value": "7149987000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2070": {
   "value": "<div class=\"stl_01\" style=\"left:4.7257em;top:29.8505em;\"><span class=\"stl_585 stl_15 stl_248\" style=\"word-spacing:-0.0354em;\">Transactions on the share capital \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.8163em;\"><span class=\"stl_191 stl_15 stl_470\" style=\"word-spacing:-0.0422em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0288em;top:30.8163em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.515em;top:30.8163em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.0207em;top:30.8163em;\"><span class=\"stl_191 stl_15 stl_170\">2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.5007em;top:30.8163em;\"><span class=\"stl_191 stl_15 stl_148\">2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.0013em;top:30.8163em;\"><span class=\"stl_191 stl_15 stl_279\">2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:32.5882em;\"><span class=\"stl_277 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">Share capital as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.345em;top:32.5882em;\"><span class=\"stl_277 stl_08 stl_581\">707,354 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7494em;top:32.5882em;\"><span class=\"stl_277 stl_08 stl_181\">704,684 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2407em;top:32.5882em;\"><span class=\"stl_277 stl_08 stl_259\">584,501 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7557em;top:32.5882em;\"><span class=\"stl_277 stl_08 stl_422\">323,891 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3082em;top:32.5882em;\"><span class=\"stl_277 stl_08 stl_313\">323,106 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:33.5513em;\"><span class=\"stl_277 stl_08 stl_40\" style=\"word-spacing:-0.0248em;\">Issue of new shares \u00a0</span></div><div class=\"stl_01\" style=\"left:33.6319em;top:33.5513em;\"><span class=\"stl_277 stl_08 stl_228\">73,624 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.4457em;top:33.5513em;\"><span class=\"stl_277 stl_08 stl_169\">2,670 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.355em;top:33.5513em;\"><span class=\"stl_277 stl_08 stl_294\">120,183 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7932em;top:33.5513em;\"><span class=\"stl_277 stl_08 stl_126\">260,610 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.395em;top:33.5513em;\"><span class=\"stl_277 stl_08 stl_298\">785 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:34.5088em;\"><span class=\"stl_191 stl_15 stl_82\" style=\"word-spacing:-0.0298em;\">Share capital as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.1406em;top:34.5088em;\"><span class=\"stl_191 stl_15 stl_432\">780,978 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.6638em;top:34.5088em;\"><span class=\"stl_191 stl_15 stl_170\">707,354 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.075em;top:34.5088em;\"><span class=\"stl_191 stl_15 stl_214\">704,684 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5656em;top:34.5088em;\"><span class=\"stl_191 stl_15 stl_66\">584,501 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.0869em;top:34.5088em;\"><span class=\"stl_191 stl_15 stl_596\">323,891 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2074": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_103\" style=\"word-spacing:0.0143em;\">Material accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.1708em;\"><span class=\"stl_585 stl_15 stl_280\" style=\"word-spacing:-0.0341em;\">Basis of preparation \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.0095em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">The consolidated financial statements for Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8426em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">Nordic have been prepared in accordance with the IFRS \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.6758em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">Accounting Standards as adopted by the EU and Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5089em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">disclosure requirements for the consolidated financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.342em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">statements of listed companies. Danish disclosure \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1751em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">requirements for the presentation of consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0083em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">financial statements are imposed by the Statutory \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8414em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">Order on Adoption of IFRS Accounting Standards issued \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6745em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0257em;\">under the Danish Financial Statements Act (Class D). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3414em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">The accounting policies are unchanged from last year \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.1745em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">except for changes due to implementation of new and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0076em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">revised standards that were effective January 1, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.6745em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">The consolidated financial statements are presented in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5076em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">Danish kroner (DKK), which is the functional currency of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3408em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0224em;\">the parent company. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.0076em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">The consolidated financial statements are presented on \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8408em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">a historical cost basis, apart from derivative financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.6739em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">instruments, securities and liability relating to phantom \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.507em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">shares, which are measured at fair value. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.1739em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">The accounting policies have been consistently applied \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.007em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">for the financial year and for the comparative figures \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8401em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">except for implementation of new standards and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.6733em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">amendments, see further below. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.3401em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">In the narrative sections of the consolidated financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.1733em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">statements comparative figures for 2022 are shown in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.0064em;\"><span class=\"stl_532 stl_08 stl_177\">brackets. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.1676em;\"><span class=\"stl_585 stl_15 stl_280\" style=\"word-spacing:-0.0343em;\">Implementation of new and revised standards and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0008em;\"><span class=\"stl_585 stl_15 stl_174\">interpretations \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8395em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">Management has assessed the impact of new or \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.6726em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">amended and revised accounting standards and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5058em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">interpretations (IFRSs) issued by the IASB and IFRS \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3389em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">Accounting Standards endorsed by the European Union \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.172em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">effective on or after January 1, 2023. It is assessed that \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.0051em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0353em;\">application of amendments effective from January 1, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8383em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">2023 has not had a material impact on the consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.6714em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">financial statements for 2023. Furthermore, Manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.5045em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">ment does not anticipate any significant impact on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3376em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0385em;\">future periods from the adoption of these amendments. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.9976em;\"><span class=\"stl_600 stl_496 stl_185\" style=\"word-spacing:-0.0285em;\">Standards and interpretations not yet in force \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8376em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">At the date of publication of the consolidated financial \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.6708em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">statements, a number of new and amended standards \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.5039em;\"><span class=\"stl_532 stl_08 stl_50\" style=\"word-spacing:-0.0221em;\">and interpretations have not yet entered into force or \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.337em;\"><span class=\"stl_532 stl_08 stl_39\" style=\"word-spacing:-0.0233em;\">have not yet been adopted by the EU. Therefore, they \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.1701em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0298em;\">are not incorporated in the consolidated financial state- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.0033em;\"><span class=\"stl_532 stl_08 stl_69\">ments. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.6701em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">None of the new or amended standards and interpre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.5033em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">tations are expected to have a material impact on the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.3364em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">consolidated financial statements. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.9976em;\"><span class=\"stl_585 stl_15 stl_601\" style=\"word-spacing:-0.0404em;\">Applying materiality \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.8364em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">The consolidated financial statements are a result of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.6695em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">processing large numbers of transactions and aggre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.5026em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">gating those transactions into classes according to their \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.3358em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">nature or function. The transactions are presented in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:35.1689em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">classes of similar items in the consolidated financial \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.002em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">statements. If a line item is not individually material, it \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.8351em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">is aggregated with other items of a similar nature in the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:37.6683em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">consolidated financial statements or in the notes. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:10.1683em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">The specific disclosures required by IFRS Accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.0014em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">Standards are provided in the Consolidated Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.8345em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Statements unless the information is considered imma- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.6676em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">terial to the users of the financial statements. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:14.3289em;\"><span class=\"stl_585 stl_15 stl_192\" style=\"word-spacing:-0.0325em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:15.1676em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">The accounting policies for specific line items are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:16.0008em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">described in the notes to the financial statements. Set \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:16.8339em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">out below is a description of the accounting policies for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.667em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">the basis of consolidation, foreign currency translation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:18.5001em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">and the cash flow statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:20.1614em;\"><span class=\"stl_585 stl_15 stl_400\" style=\"word-spacing:-0.0338em;\">Recognition and measurement \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:21.0001em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">Income is recognized in the income statement when \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:21.8333em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0316em;\">generated. Assets and liabilities are recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:22.6664em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">the balance sheet when it is probable that any future \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:23.4995em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">economic benefit will flow to or from the Group and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:24.3326em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">the value can be reliably measured. On initial recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:25.1658em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">nition, assets and liabilities are measured at cost. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:25.9989em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Subsequently, assets and liabilities are measured as \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:26.832em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">described in the description of the accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.6651em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">in the respective notes to the financial statements. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:29.3264em;\"><span class=\"stl_585 stl_15 stl_179\" style=\"word-spacing:-0.0346em;\">Basis of consolidation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:30.1651em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">The consolidated financial statements include Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:30.9983em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Nordic A/S and the subsidiaries in which the Group \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:31.8314em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">holds more than 50% of the voting rights or otherwise \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:32.6645em;\"><span class=\"stl_532 stl_08 stl_38\" style=\"word-spacing:-0.0244em;\">has control. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:34.3258em;\"><span class=\"stl_585 stl_15 stl_89\" style=\"word-spacing:-0.0357em;\">Principles of consolidation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:35.1645em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">The consolidated financial statements are prepared \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:35.9976em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">on the basis of the financial statements of the parent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:36.8308em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">company and the individual subsidiaries, and these are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:37.6639em;\"><span class=\"stl_532 stl_08 stl_88\" style=\"word-spacing:-0.0218em;\">prepared in accordance with the Group\u2019s accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:38.497em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">policies and for the same accounting period. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:10.1639em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Intra-group income and expenses together with all \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:10.997em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">intra-group profits, receivables and payables are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:11.8301em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">eliminated on consolidation. In the preparation of the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:12.6633em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">consolidated financial statements, the book value of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:13.4964em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">shares in subsidiaries held by the parent company is set \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:14.3295em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0343em;\">off against the equity of the subsidiaries. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:15.9908em;\"><span class=\"stl_585 stl_15 stl_142\" style=\"word-spacing:-0.0364em;\">Foreign currency translation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:16.8295em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">On initial recognition, transactions denominated in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:17.6626em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">currencies other than the Group\u2019s functional currency \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:18.4958em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">are translated at the exchange rate ruling at the trans- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:19.3289em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">action date. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:20.9958em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">Receivables, payables and other monetary items \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:21.8289em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">denominated in foreign currencies that have not been \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:22.662em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">settled at the balance sheet date are translated at the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:23.4951em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">exchange rates at the balance sheet date. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:25.162em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">Exchange differences between the exchange rate at \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:25.9951em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">the date of the transaction and the exchange rate at \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:26.8283em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0223em;\">the date of payment or the balance sheet date, respec- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:27.6614em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">tively, are recognized in the income statement under \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:28.4945em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">financials. Property, plant and equipment and intan- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:29.3276em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">gible assets, inventories and other nonmonetary assets \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:30.1608em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">acquired in foreign currency and measured based on \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:30.9939em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">historical cost are translated at the exchange rates at \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:31.827em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">the transaction date. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:33.4939em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">On recognition in the consolidated financial state- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:34.327em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">ments of subsidiaries whose financial statements are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:35.1601em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">presented in a functional currency other than Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:35.9933em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">kroner (DKK), the income statements are translated at \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:36.8264em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">the average exchange rates of the respective months. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.1764em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">Balance sheet items are translated at the exchange \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.0095em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">rates at the balance sheet date. Exchange differences \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8426em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">arising on the translation of foreign subsidiaries\u2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.6758em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0283em;\">opening balance sheet items to the exchange rates at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5089em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">the balance sheet date and on the translation of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.342em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">income statements from average exchange rates of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1751em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">respective months to exchange rates at the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0083em;\"><span class=\"stl_532 stl_08 stl_87\" style=\"word-spacing:-0.0249em;\">sheet date are recognized as other comprehensive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8414em;\"><span class=\"stl_532 stl_08 stl_201\">income. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5026em;\"><span class=\"stl_585 stl_15 stl_485\" style=\"word-spacing:-0.0383em;\">Segment reporting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3414em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">The Group does not prepare segment reporting inter- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.1745em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">nally and therefore only reports one operating segment \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0076em;\"><span class=\"stl_532 stl_08 stl_217\">externally. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.6745em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">Geographic spilt of revenue and revenue from major \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5076em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">customers is disclosed in note 3 to the consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3408em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">financial statements. Geographic location of noncurrent \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.1739em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0283em;\">assets is disclosed in note 15 and 16 to the consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.007em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">financial statements. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.6683em;\"><span class=\"stl_585 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Cash flow statement \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.507em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0261em;\">The cash flow statement is prepared in accordance with \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.3401em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0265em;\">the indirect method on the basis of the Group\u2019s net \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.1733em;\"><span class=\"stl_532 stl_08 stl_377\" style=\"word-spacing:-0.0202em;\">result for the year. The statement shows the Group\u2019s \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.0064em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">cash flows broken down into operating, investing and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8395em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">financing activities, cash and cash equivalents at year \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.6726em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">end and the impact of the calculated cash flows on the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5058em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">Group\u2019s cash and cash equivalents. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.1726em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">Cash flows in foreign currencies are translated into \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.0058em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Danish kroner (DKK) at the exchange rate on the trans- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.8389em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">action date. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.172em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">In the cash flows from operating activities, net profit for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0051em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">the year is adjusted for non-cash operating items and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8383em;\"><span class=\"stl_532 stl_08 stl_89\" style=\"word-spacing:-0.0359em;\">changes in working capital. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5051em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Cash flows from investing activities include cash flows \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3383em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">from the purchase and sale of intangible assets, prop- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.1714em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">erty, plant and equipment, investments and securities. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8383em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">Cash flows from financing activities include cash flows \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.6714em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">from the raising and payment of loans and capital \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.5045em;\"><span class=\"stl_532 stl_08 stl_175\">increases. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.1714em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">Additionally, cash flows from assets held under finance \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.0045em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">leases are recognized by way of lease payments made. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.6658em;\"><span class=\"stl_585 stl_15 stl_16\" style=\"word-spacing:-0.0395em;\">Reporting under the ESEF Regulation \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.5045em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0257em;\">The Commission Delegated Regulation (EU) 2019/815 on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.3376em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">the European Single Electronic Format (ESEF Regulation) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.1708em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">requires the use of a particular electronic reporting \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.0039em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">format for annual reports of listed companies in the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.837em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">EU. More specifically, the ESEF Regulation requires the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.6701em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">annual report to be prepared in XHTML format with \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.5033em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">iXBRL tagging of the consolidated financial statements \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.3364em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">including notes. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.0033em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">The Company\u2019s iXBRL tagging has been made using \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.8364em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">the ESEF taxonomy disclosed in the annexes to the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.6695em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0353em;\">ESEF Regulation and developed based on the IFRS \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.5026em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">Accounting Standards taxonomy published by the IFRS \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.3358em;\"><span class=\"stl_532 stl_08 stl_37\">Foundation. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.0026em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">The line items in the consolidated financial statements \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.8358em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">are XBRL-tagged to the elements of the ESEF taxonomy \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.1764em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0245em;\">that are considered to match the content of those line \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.0095em;\"><span class=\"stl_532 stl_08 stl_160\" style=\"word-spacing:-0.0236em;\">items. For line items not considered to be covered by \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.8426em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">line items defined in the taxonomy, entity-specific \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.6758em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">extensions to the taxonomy have been incorporated. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5089em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">Except for subtotals, these extensions are anchored to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.342em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">standard elements of the ESEF taxonomy. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0089em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">Consistently with the requirements of the ESEF Regu- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.842em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">lation, the annual report approved by Management is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.6751em;\"><span class=\"stl_532 stl_08 stl_36\" style=\"word-spacing:-0.0226em;\">comprised of a ZIP file bava-2023-12-31-en.zip, which \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.5083em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">includes an XHTML file that may be opened using \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.3414em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">standard web browsers, and a number of technical \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.1745em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0334em;\">XBRL files enabling mechanical retrieval of the XBRL \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.0076em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">data incorporated. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.6689em;\"><span class=\"stl_585 stl_15 stl_21\" style=\"word-spacing:-0.0322em;\">Net asset value per share: \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6627em;top:23.5076em;\"><span class=\"stl_532 stl_08 stl_340\">Equity \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.4589em;\"><span class=\"stl_532 stl_08 stl_39\" style=\"word-spacing:-0.0232em;\">Number of shares at year-end \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.1201em;\"><span class=\"stl_585 stl_15 stl_78\" style=\"word-spacing:-0.0304em;\">Share price/Net asset value per share: \u00a0</span></div><div class=\"stl_01\" style=\"left:39.1358em;top:26.9589em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">Market price per share \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.9101em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Net asset value per share \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.5714em;\"><span class=\"stl_585 stl_15 stl_344\" style=\"word-spacing:-0.0347em;\">Equity share, %: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:30.4101em;\"><span class=\"stl_532 stl_08 stl_442\" style=\"word-spacing:-0.0374em;\">Equity x 100 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7595em;top:31.3614em;\"><span class=\"stl_532 stl_08 stl_50\" style=\"word-spacing:-0.023em;\">Total assets \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.0283em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">Earnings per share and diluted earnings per share are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.8614em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">calculated in accordance with IAS 33 \u201cEarnings per \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:34.6945em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">share\u201d and specified in note 14. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0735em;top:10.2008em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.0753em;\"><span class=\"stl_585 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">Sale of goods \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.914em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Revenue from sale of goods is recognized when \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.7472em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">Bavarian Nordic has transferred control of products sold \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5803em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">to the buyer and it is probable that Bavarian Nordic \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.4134em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">will collect the consideration to which it is entitled \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.2465em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0355em;\">for transferring the products. Control of the products \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0797em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">is transferred at a point in time, typically on delivery. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.9128em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">The amount of sales to be recognized is based on the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.7459em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">consideration Bavarian Nordic expects to receive in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.579em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">exchange for its goods. When sales are recognized, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.4122em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">Bavarian Nordic also records estimates for a variety of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.2453em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">sales deductions, including product returns as well as \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.0784em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">rebates and discounts to government agencies, whole- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.9115em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">salers, health insurance companies, managed health- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.7447em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">care organisations and retail customers. Revenue is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.5778em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">measured net of value added tax, duties, etc. collected \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.4109em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">on behalf of a third party. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.0778em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Where contracts contain customer acceptance criteria, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.9109em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">Bavarian Nordic recognizes sales when the acceptance \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.744em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">criteria are satisfied. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.4109em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">Where absolute amounts are known, the rebates are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:30.244em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">recognized as other liabilities. Wholesaler charge-backs \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.0772em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">are netted against trade receivable balances. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:32.744em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">The pricing mechanisms in the US market and the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.5772em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">different kind of rebates are described below. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:35.2372em;\"><span class=\"stl_600 stl_496 stl_278\" style=\"word-spacing:-0.0362em;\">Pricing mechanisms in the US market \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.0772em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">In the US, sales rebates are paid in connection with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.9103em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">government and commercial programmes. Key \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.0772em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">customers in the US include private payers, Group \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.9103em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">Purchasing Organizations (GPOs) and government \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.7434em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">payers. GPOs play a role in negotiating price conces- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.5765em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">sions with drug manufacturers for the commercial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.4097em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">channels, and determine which drugs are offered as \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.2428em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">preferred options on their drug lists. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.9009em;\"><span class=\"stl_600 stl_496 stl_440\" style=\"word-spacing:-0.0387em;\">Wholesaler charge-backs \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.7409em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">Wholesaler charge-backs relate to contractual arrange- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:28.574em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0347em;\">ments between Bavarian Nordic and indirect customers \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:29.4072em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">whereby products are sold at contract prices lower \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:30.2403em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">than the list price originally charged to wholesalers. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.0734em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">A wholesaler charge-back represents the difference \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.9065em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">between the invoice price to the wholesaler and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.7397em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">indirect customer\u2019s contract price. Accruals are calcu- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:33.5728em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">lated for estimated charge-backs using a combination \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:34.4059em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">of factors such as historical experience, current whole- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:35.239em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">saler inventory levels, contract terms and the value of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.0722em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0253em;\">claims received but not yet processed. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.9028em;\"><span class=\"stl_600 stl_496 stl_174\" style=\"word-spacing:-0.0324em;\">US Medicaid &amp; Medicare rebates \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.7428em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">Medicaid &amp; Medicare are government insurance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.5759em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">programmes. Medicaid and Medicare rebates have \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.409em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">been estimated using a combination of historical expe- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.2422em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">rience, product and population growth, price increases, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.0753em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0347em;\">and the impact of contracting strategies. The calcula- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.9084em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0261em;\">tion also involves interpretation of relevant regulations \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.7415em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">that are subject to changes in interpretative guidance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.5747em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">from government authorities. Bavarian Nordic adjusts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.4078em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">the provision periodically to reflect actual sales perfor- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.2409em;\"><span class=\"stl_532 stl_08 stl_39\">mance. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.579em;\"><span class=\"stl_600 stl_496 stl_193\" style=\"word-spacing:-0.0351em;\">Other discounts and sales returns \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.419em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">Other discounts are provided to wholesalers, hospi- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.2521em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">tals, pharmacies, etc. They are usually linked to sales \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.0852em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">volume or provided as cash discounts. Accruals are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.9183em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">calculated based on historical data and recorded as a \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.7515em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">reduction in gross sales at the time the related sales \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.5846em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">are recorded. Sales returns are related to damaged or \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.4177em;\"><span class=\"stl_532 stl_08 stl_204\" style=\"word-spacing:-0.037em;\">expired products. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.079em;\"><span class=\"stl_585 stl_15 stl_93\" style=\"word-spacing:-0.0356em;\">Sale of services and licenses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.9177em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Furthermore, revenue comprises the fair value of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.7508em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">consideration received or receivable for income derived \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.584em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">from development services where revenue is measured \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.4171em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">at the expected net sales price. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.084em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">Sales of licences that transfer the rights associated with \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.9171em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">ownership of intellectual property are recognized at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.7502em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0283em;\">a point in time when control is transferred. Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.5833em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">from development services and licences that do not \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.4165em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">transfer the right of ownership to intellectual property \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.2496em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">are recognized over time in line with the execution and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.0827em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.035em;\">delivery of the work. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.5827em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0327em;\">Agreements with commercial partners generally \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.4158em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">include non-refundable upfront license and collabora- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.249em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">tion fees, milestone payments, the receipt of which is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.0821em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">dependent upon the achievement of certain clinical, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.9152em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">regulatory or commercial milestones, as well as royal- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.7483em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">ties on product sales of licensed products, if and when \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.5815em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">such product sales occur, and revenue from the supply \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.4146em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">of products. For these agreements that include multiple \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.2477em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">elements, total contract consideration is attributed to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.0808em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">separately identifiable components on a reliable basis \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.914em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">that reasonably reflects the selling prices that might be \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.7471em;\"><span class=\"stl_532 stl_08 stl_89\" style=\"word-spacing:-0.0358em;\">expected to be achieved in stand-alone transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.5802em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">provided that each component has value to the partner \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.4133em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">on a stand-alone basis. The allocated consideration is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.2465em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">recognized as revenue in accordance with the principles \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.0796em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">described above. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Production costs consist of costs incurred in gener- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_217\" style=\"word-spacing:-0.0238em;\">ating the revenue for the year. Costs for raw materials, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_142\" style=\"word-spacing:-0.0363em;\">consumables, production staff and a proportion of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">production overheads, including maintenance, amorti- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">zation, depreciation and impairment of intangible and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">tangible assets used in production as well as operation, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2043em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0347em;\">administration and management of the production \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0374em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0347em;\">facility are recognized as production costs. Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8706em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">of acquired product rights are recognized as production \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7037em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">costs. In addition, the costs related to idle capacity and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5368em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">write-down to net realisable value of goods on stock \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3699em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">are recognized. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">Sales and distribution costs comprise costs incurred for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_46\" style=\"word-spacing:-0.0366em;\">the sale and distribution of products sold during the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">year. This includes costs incurred for sales campaigns, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">training and administration of the sales force and for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">direct distribution, marketing and promotion. Also \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">included are salaries and other costs for the sales, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">distribution and marketing functions, loss allowance for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">expected credit losses, amortization, depreciation and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">other indirect costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0326em;\">Research and development costs include salaries and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">costs directly attributable to the Group\u2019s research and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">development projects, less government grants. Further- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">more, salaries and costs supporting direct research and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">development, including costs of patents, rent, leasing \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">and depreciation attributable to laboratories, and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">external scientific consultancy services, are recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">under research and development costs. No indirect or \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">general overhead costs that are not directly attributable \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">to research and development activities are included in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.5368em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">the disclosure of research and development expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3699em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">recognized in the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0259em;\">Research costs are expensed in the year they occur. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.7037em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Development costs are generally expensed in the year \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.5368em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">they occur. In line with industry custom, capitaliza- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.3699em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">tion of development costs does not begin until it is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2031em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">deemed realistic that the product can be completed \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2031em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">and marketed and it is highly likely that a marketing \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0362em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">authorization will be received. In addition, there must \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8693em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">be sufficient certainty that the future earnings to the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7024em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">Group will cover not only production costs, direct distri- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5356em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">bution and administrative costs, but also the develop- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3687em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">ment costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Contract research and development costs incurred to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.8687em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">achieve revenue are included in \"Research and devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.7018em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">opment costs incurred this year\" in the table and then \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.5349em;z-index:1970;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">transferred under \"Contract costs recognized as produ</span><span class=\"stl_532 stl_08 stl_609\">c</span><span class=\"stl_532 stl_08 stl_609\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3681em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">tion costs\" to be recognized as production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">Grants that compensate the Group for research and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">development expenses incurred, which are recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.7012em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">directly in the income statement, are set off against the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5343em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">costs of research and development at the time when a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3674em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">final and binding right to the grant has been obtained. \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0198em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Administrative costs include costs of Group Manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">ment, staff functions, administrative personnel, office \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">costs, rent, short-term lease payments and depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">not relating specifically to production, research and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">development or sales and distribution. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">Interest income is recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">at the amounts relating to the financial year. Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">income also includes net positive value adjustments of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">financial instruments and securities, adjustment of the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">net present value of provisions and net currency gains. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">Interest expenses are recognized in the income state- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">ment at the amounts relating to the financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Financial expenses also include adjustment of net \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">present value of the deferred consideration, cf. note 24, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">negative value adjustments of financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0349em;\">and securities and net currency losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">Income tax for the year comprises current tax and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0265em;\">deferred tax for the year. The part relating to the profit \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">for the year is recognized in the income statement, and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">the part attributable to items in the comprehensive \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0292em;\">income is recognized in the comprehensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_185\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0381em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">The tax effect of costs that have been recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">directly in equity is recognized in equity under the rele- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0257em;\">vant items. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3712em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">Current tax receivable is recognized in the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.2043em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">sheet under current asset. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.8712em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Current tax payable is recognized in the balance sheet \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.7043em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">under current liabilities. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.3712em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Deferred tax is measured using the balance sheet \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2043em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0347em;\">liability method on all temporary differences between \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.0374em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">accounting values and tax values. Deferred tax liabili- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.8706em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">ties arising from temporary tax differences are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.7037em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">nized in the balance sheet as a liability. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2037em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Deferred tax assets arising from temporary deductible \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0368em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">differences and tax losses carried forward are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8699em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">nized when it is probable that they can be realized by \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7031em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">offsetting them against taxable temporary differences \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5362em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">or future taxable profits. At each balance sheet date, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3693em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">it is assessed whether it is probable that there will be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.2024em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">sufficient future taxable income for the deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">asset to be utilized. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.7024em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">Deferred income tax is provided on temporary taxable \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.5356em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">differences arising on investments in subsidiaries, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3687em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">unless the parent company is able to control the timing \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.2018em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">when the deferred tax is to be realized and it is likely \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">that the deferred tax will not be realized within the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">foreseeable future. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5349em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">Deferred tax is calculated at the tax rates applicable on \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3681em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">the balance sheet date for the income years in which \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.2012em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">the tax asset is expected to be utilized. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Earnings per share is calculated as the profit or loss \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0261em;\">for the year compared to the weighted average of the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">issued shares in the financial year. The basis for the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2049em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">calculation of diluted earnings per share is the weight- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0381em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">ed-average number of ordinary shares in the financial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8712em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">year adjusted for the dilutive effects of warrants. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_640 stl_08 stl_110\" style=\"word-spacing:-0.0303em;\">Intangible assets are measured at historic cost less accumu- \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:12.0389em;\"><span class=\"stl_640 stl_08 stl_324\" style=\"word-spacing:-0.033em;\">lated amortization and impairment losses. Cost of acquired \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:12.872em;\"><span class=\"stl_640 stl_08 stl_334\" style=\"word-spacing:-0.0316em;\">product rights are measured at cash consideration and \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:13.7051em;\"><span class=\"stl_640 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">present value of any deferred payments for those rights. \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:14.5383em;\"><span class=\"stl_640 stl_08 stl_341\" style=\"word-spacing:-0.0339em;\">Furthermore costs of acquired product rights include trans- \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:15.3722em;\"><span class=\"stl_640 stl_08 stl_537\" style=\"word-spacing:-0.0322em;\">action costs that are directly attributable to the acqusition. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.0389em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Internal development projects that meet the require- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.872em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">ments for recognition as intangible assets are meas- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.7051em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">ured at direct cost relating to the development projects. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.372em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Amortization is provided on a straight-line basis over \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.2051em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">the useful economic lives of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:22.872em;\"><span class=\"stl_532 stl_08 stl_125\" style=\"word-spacing:-0.03em;\">The useful lives of acquired product rights are estimated to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.7051em;\"><span class=\"stl_532 stl_08 stl_420\" style=\"word-spacing:-0.0249em;\">be 10-20 years and software is estimated to be 3-5 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.372em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">Amortization of acquired product rights is recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.2051em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">part of cost of goods sold under production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.8651em;\"><span class=\"stl_600 stl_496 stl_443\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.7051em;\"><span class=\"stl_532 stl_08 stl_142\" style=\"word-spacing:-0.0364em;\">The carrying amounts of intangible assets carried at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:29.5383em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">cost or amortized cost are tested at least annually to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:30.3714em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">determine whether there are indications of any impair- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:31.2045em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">ment in excess of that expressed in normal amortiza- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.0376em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">tion. If that is the case, the asset is written down to the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.8708em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0335em;\">recoverable amount, which is the higher of its fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:33.7039em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">less costs to sell and its value in use. Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:34.537em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">on intangible assets are recognized under the same \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:35.3701em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">line item as amortization of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:37.037em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">For development projects in progress, the recoverable \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:37.8701em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">amount is assessed annually, regardless of whether any \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:38.7033em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">indications of impairment have been found. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">Property, plant and equipment include land and build- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">ings, production equipment, leasehold improvements, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_423\" style=\"word-spacing:-0.0369em;\">office and IT equipment and laboratory equipment and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">is measured at cost less accumulated depreciation and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">impairment losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">Cost includes the costs directly attributable to the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0381em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">purchase of the asset, until the asset is ready for use. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">For assets constructed by the Group cost includes mate- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">rials, components, third-party suppliers and labour. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3712em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">Borrowing costs directly attributable to the construction \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2043em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">of property, plant and equipment are included in cost. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0374em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">Other borrowing costs are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8706em;\"><span class=\"stl_532 stl_08 stl_185\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5374em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">Depreciation is charged over the expected economic \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3706em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">lives of the assets, and the depreciation methods, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2037em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">expected lives and residual values are reassessed indi- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0368em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">vidually for the assets at the end of each financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8699em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">Assets are depreciated on a straightline basis over their \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7031em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">estimated useful lives as follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2031em;\"><span class=\"stl_532 stl_08 stl_69\">Buildings \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9169em;top:11.2031em;\"><span class=\"stl_532 stl_08 stl_321\" style=\"word-spacing:-0.0092em;\">10-20 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0362em;\"><span class=\"stl_532 stl_08 stl_21\">Installations \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2975em;top:12.0362em;\"><span class=\"stl_532 stl_08 stl_271\" style=\"word-spacing:-0.0103em;\">5-15 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8693em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">Leasehold improvements \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0544em;top:12.8693em;\"><span class=\"stl_532 stl_08 stl_60\" style=\"word-spacing:-0.021em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7024em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Office and IT equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.525em;top:13.7024em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0223em;\">3-5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5356em;\"><span class=\"stl_532 stl_08 stl_468\" style=\"word-spacing:-0.0389em;\">Laboratory equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2613em;top:14.5356em;\"><span class=\"stl_532 stl_08 stl_341\" style=\"word-spacing:-0.01em;\">5-10 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3687em;\"><span class=\"stl_532 stl_08 stl_423\" style=\"word-spacing:-0.0368em;\">Production equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2988em;top:15.3687em;\"><span class=\"stl_532 stl_08 stl_271\" style=\"word-spacing:-0.0103em;\">3-15 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0356em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">Management reviews the estimated useful lives of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8687em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">material property, plant and equipment at the end of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.7018em;\"><span class=\"stl_532 stl_08 stl_251\" style=\"word-spacing:-0.0226em;\">each financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3618em;\"><span class=\"stl_600 stl_496 stl_443\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.2018em;\"><span class=\"stl_532 stl_08 stl_46\" style=\"word-spacing:-0.0365em;\">The carrying amounts of property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">carried at cost or amortized cost are tested annually to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">determine whether there are indications of any impair- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.7012em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">ment in excess of that expressed in normal deprecia- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5343em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">tion. If that is the case, the asset is written down to the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3674em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0335em;\">recoverable amount, which is the higher of its fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.2006em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">less costs to sell and its value in use. Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.0337em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">on property, plant and equipment are recognized under \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8668em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">the same line item as depreciation of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">The right-of-use assets comprise the initial measure- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0263em;\">ment of the corresponding lease liability. Right-of-use \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">assets are subsequently measured at cost less accumu- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">lated depreciation and impairment losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3718em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">All operating leases with a lease term of more than 12 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">months are recognized on the balance sheet as right- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0381em;\"><span class=\"stl_532 stl_08 stl_87\">of-use-assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">For leases with a lease term of less than 12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">the lease payments are recognized as an operating \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">expense on a straight-line basis over the term of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_59\">lease. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0374em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0247em;\">The right-of-use-assets are measured at the present \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8706em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">value of all future lease payments. When assessing the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7037em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">lease term, any extension or termination options are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5368em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">included in the assessment. The options are included \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3699em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">in determining the lease term, if exercise is reason- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2031em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">ably certain. When determining the discount rates \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0362em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">used to calculate the net present value of future lease \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8693em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">payments, an incremental country specific borrowing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7024em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">rate is used, based on a government bond plus the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5356em;\"><span class=\"stl_532 stl_08 stl_255\" style=\"word-spacing:-0.0212em;\">Group\u2019s credit margin, ranging from 3.69% to 6.93%. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3687em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">A single discount rate is used for a portfolio of lease \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2018em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0321em;\">assets with reasonable similar characteristics. Initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.0349em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">direct costs are not included in measurement of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.8681em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">right-of-use-assets. Non-lease components are not \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.7012em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">separated from lease components. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7012em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Impact from change in lease terms, lease payments or \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5343em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">modification of the lease contract is further described \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3674em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0257em;\">in note 28. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0343em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0253em;\">Right-of-use assets are depreciated over the shorter \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8674em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">period of lease term and useful life of the underlying \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.7006em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">asset. The depreciation starts at the commencement \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.5337em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">date of the lease. IAS 36 is applied to determine \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3668em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">whether a right-of-use asset is impaired and any iden- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1999em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">tified impariment losses are accounted for as described \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.033em;\"><span class=\"stl_532 stl_08 stl_251\" style=\"word-spacing:-0.023em;\">in note 15. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2012em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">A maturity analysis for lease payments is described in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0343em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">note 23. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0233em;\">Inventories except for raw materials are measured \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_87\" style=\"word-spacing:-0.0249em;\">at the lower of cost using the weighted average cost \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">formula method less write-downs for obsolescence and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_87\" style=\"word-spacing:-0.0249em;\">net realisable value. Raw materials are measured at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">cost based on the FIFO method. For raw materials, cost \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">is determined as direct acquisition costs incurred. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">cost of finished goods produced in-house and work in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">progress includes raw materials, consumables, filling \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">cost, QC testing and direct payroll costs plus indirect \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0353em;\">costs of production. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">Indirect costs of production include indirect materials \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2037em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">and labour as well as maintenance of and depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">on the machinery used in production processes, factory \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8699em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0351em;\">buildings and equipment used and cost of production \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7031em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">administration and management. The net realisable \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5362em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">value is the estimated sales price in the ordinary course \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3693em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">of business less relevant sales costs determined on the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2024em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">basis of marketability, obsolescence and changes in the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0356em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">expected sales price. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">Receivables are measured at initial recognition at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">value and subsequently at amortized value usually \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">equal to the nominal value, net of impairment based \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">on expected credit losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:9.8606em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">Write-downs are calculated using the \u2018full lifetime \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.6937em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">expected credit losses\u2019 method, whereby the likelihood \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.5268em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">of non-fulfilment throughout the lifetime of the finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.3599em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">cial instrument is taken into consideration. A provision \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.1931em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">account is used for this purpose. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">Receivables are measured at initial recognition at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">value and subsequently at amortized value usually \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">equal to the nominal value, net of impairment, to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">counter the loss after an individual assessment of risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">of loss. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Prepayments recognized under assets include costs \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">paid in respect of subsequent financial years, including \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">incurred costs related to technology transfer activities \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">at CMO's, where the costs subsequently will be recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2049em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">nized as inventory in concurrence with purchase of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0381em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">production services from the CMO's. Prepayments are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8712em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0253em;\">measured at cost. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Derivative financial instruments and liability relating \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">to phantom shares are measured at fair value. For \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">further details regarding measurement of fair value for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0256em;\">phantom shares see note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3718em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">Other financial liabilities are measured at initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">recognition at fair value less any transaction costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2049em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">Subsequent other financial liabilities are measured at \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0381em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">amortized cost using the effective interest method, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8712em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">whereby the difference between proceeds and the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7043em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">nominal value is recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5374em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">as a financial expense over the period. Amortized cost \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3706em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">usually equal to the nominal value. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.1999em;\"><span class=\"stl_585 stl_15 stl_442\" style=\"word-spacing:-0.0373em;\">Derivative financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">On initial recognition, derivative financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">are measured at the fair value on the settlement date. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">Directly attributable costs related to the purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">or issuance of the individual financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">(transaction costs) are added to the fair value on initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">recognition, unless the financial asset or the financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">liability is measured at fair value with recognition of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">fair value adjustments in the income statement. Subse- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0263em;\">quently, they are measured at fair value at the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5368em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">sheet date based on the official exchange rates, market \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3699em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">interest rates and other market data such as volatility \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2031em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">adjusted for the special characteristics of each instru- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0362em;\"><span class=\"stl_532 stl_08 stl_192\">ment. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7031em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">Changes in the fair value of derivative financial instru- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5362em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">ments designated as and qualifying for recognition \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3693em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">as effective hedges of future transactions (cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2024em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0262em;\">hedges) are recognized as comprehensive income. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0356em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">The ineffective portion is recognized immediately in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8687em;\"><span class=\"stl_532 stl_08 stl_393\" style=\"word-spacing:-0.036em;\">the income statement. When the hedged transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7018em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">are realized, cumulative changes are recognized in the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5349em;z-index:2442;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">income statement together with the hedged transa</span><span class=\"stl_532 stl_08 stl_513\">c</span><span class=\"stl_532 stl_08 stl_513\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3681em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">tion or in respect of a non-financial item as part of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2012em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0345em;\">cost of the transactions in question. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2012em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">For derivative financial instruments that do not qualify \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0343em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">for hedge accounting, changes in fair value are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8674em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">nized as financials in the income statement as they \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7006em;\"><span class=\"stl_532 stl_08 stl_536\">occur. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3674em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">The Company has designated certain derivative finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.2006em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">cial instruments as cash flow hedges as defined under \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0337em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">IFRS 9 \"Financial Instruments\". Hedge accounting is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8668em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">classified as a cash flow hedge when the hedges of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.6999em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">a particular risk is associated with the cash flows of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.533em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0355em;\">highly probable forecast transactions. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1943em;\"><span class=\"stl_585 stl_15 stl_46\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.033em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">Securities consist of highly liquid, listed bonds with \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8662em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">high credit rating, which are measured at fair value on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.6993em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0283em;\">initial recognition and as of the balance sheet date. The \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5324em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">Group\u2019s portfolio of securities is treated as \"financial \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3656em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">items at fair value through profit or loss\", as the port- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.1987em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">folio is accounted for and valued on the basis of the fair \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.0318em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">value in compliance with the Company's investment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8649em;\"><span class=\"stl_532 stl_08 stl_59\">policy. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.5318em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Both realized and unrealized value adjustments are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3649em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">recognized in the income statement under financials. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Deferred consideration including contingent milestone \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">payments is recognized when its payment is probable \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">and it can be measured reliably and is at initial recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">nition measured at fair value which equals present \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">value of future deferred payments. Subsequently, the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">deferred consideration is measured at amortized cost. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">This means that the difference between the present \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">value of the consideration and the nominal amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:11.2043em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">due is recognized in the income statement as a finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.0374em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">cial expense over the period until expected payment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.8706em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">date using the effective interest method. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:14.5374em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">The expected phasing of future payments and the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:15.3706em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">probability of contingent payments are assessed on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:16.2037em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">each reporting date and the impact is recognized as a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:17.0368em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">financial item. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government consists of an \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">upfront payment and additional milestone payments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">from the Danish Ministry of Health to support the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">development of ABNCoV2, the Company\u2019s COVID-19 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">vaccine candidate. All payments are potentially subject \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0263em;\">to repayment, however only upon successful marketing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">authorization of the vaccine by the European Medicines \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Agency (EMA). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">Initially the payments from the Danish Ministry of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0259em;\">Health is measured at the amount received that is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:11.2043em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">considered equal to the fair value of the obligation to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.0374em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">repay the amount to the Danish Ministry of Health. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:13.7043em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Subsequently, the financial liability part is measured at \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:14.5374em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">amortized cost. The interest rate used that is implicit \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:15.3706em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">in the transaction is based on an assessment of the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:16.2037em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">company\u2019s incremental borrowing rate. The amortiza- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:17.0368em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">tions and the implicit interest are presented as amorti- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:17.8699em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">zation expenses under financial expenses. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Loans are measured at the time of borrowing at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">value less any transaction costs. Subsequently, debt is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">measured at amortized cost. This means that the differ- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">ence between the proceeds of the loan and the amount \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:11.2049em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">to be repaid is recognized in the income statement over \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:12.0381em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">the term of the loan as a financial expense using the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:12.8712em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">effective interest method. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">In defined contribution plans, the Group makes regular \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">payments of fixed contributions to independent \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">pension funds and insurance companies. The Group \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">is under no obligation to pay additional contributions. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Costs for defined contribution plans are recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">the income statement as the Group assumes an obliga- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">tion to make the payment. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">In defined benefit plans, the Group is under an obliga- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">tion to pay a defined benefit on retirement. The actuar- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">ially calculated present value less the fair value of any \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">plan assets is recognised in the balance sheet under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2037em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">retirement benefit obligations. The total service costs \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">of the year plus calculated interest based on actuarial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8699em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">estimates and financial assumptions at the beginning \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7031em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">of the year are recognized in the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5362em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">The difference between the forecast development in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3693em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">plan assets and liabilities and the realized values at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2024em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">the end of the year is called actuarial gains or losses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0356em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">and is recognized in other comprehensive income. In \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8687em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">connection with a change in benefits regarding the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7018em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">employees\u2019 employment with the Group to date, there \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5349em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">will be a change in the actuarial calculation of the net \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3681em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">present value, which is taken directly to the income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2012em;\"><span class=\"stl_532 stl_08 stl_185\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.1956em;\"><span class=\"stl_585 stl_15 stl_142\" style=\"word-spacing:-0.0365em;\">Defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0343em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">The Group offers pension plans to all employees in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8674em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">Denmark and abroad. Most of the pension plans are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7006em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">defined contribution plans, expect for the pension plan \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5337em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">in Bavarian Nordic Berna GmbH, see below. The Group \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3668em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">funds the plans through regular payments of premiums \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.1999em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">to independent insurance companies responsible for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0331em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">the pension obligations towards the beneficiaries. Once \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8662em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">the pension contributions for defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.6993em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">have been made, the Group has no further obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.5324em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">towards current or former employees. Contributions to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3656em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">defined contribution plans are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1987em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">statement when paid. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8599em;\"><span class=\"stl_585 stl_15 stl_142\" style=\"word-spacing:-0.0364em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.6987em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">With the acquisition of the Swiss subsidiary Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5318em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Nordic Berna GmbH, the Group has recognized a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3649em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">defined benefit plan obligation of DKK 81 million. The \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.1981em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">pension plan is part of a collective foundation in which \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.0312em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">other plans of non-related employers also participate, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8643em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">and the different plans all participate in the various \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.6974em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">risks relating to the foundation. The pension scheme in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.5306em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">Bavarian Nordic Switzerland AG is a fully insured plan \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3637em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">and therefore not assessed to be a defined benefit \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.1968em;\"><span class=\"stl_532 stl_08 stl_159\">plan. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.8637em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">Defined benefit liabilities are recognized in the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.6968em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">sheet and in the income statement as indicated below. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">The lease liability is initially measured at the present \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">value of the future lease payments (see further in note \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">17), discounted by using an incremental country specific \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">borrowing rate ranging from 3.69% to 6.93% applying \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">only a single discount rate for a portfolio of lease assets \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">with reasonable similar characteristics. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0381em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">The lease liability is subsequently measured by \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">increasing the carrying amount to reflect interest on \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">the lease liability using the effective interest method \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">and by reducing the carrying amount to reflect the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">lease payments made. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2037em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">The lease liability is remeasured and corresponding \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0368em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0251em;\">adjustments are made to the related right-of-use-asset \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8699em;\"><span class=\"stl_532 stl_08 stl_268\">whenever: \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5368em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:14.5368em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">The lease term has changed, in which case the lease \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:15.3699em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">liability is remeasured by discounting the revised \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:16.2031em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">lease payments using a revised discount rate. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8699em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:17.8699em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">The lease payments change due to changes in \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:18.7031em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">an index or rate, in which case the lease liability \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:19.5362em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">is remeasured by discounting the revised lease \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:20.3693em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">payments using an unchanged discount rate. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.0362em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:22.0362em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">A lease contract is modified and the lease modifi- \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:22.8693em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">cation is not accounted for as a seperate lease, in \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:23.7024em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">which case the lease liability is remeasured based on \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:24.5356em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">the lease term of the modified lease by discounting \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:25.3687em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">the revised lease payments using a revised discount \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:26.2018em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">rate at the effective date of the modification. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">Prepayments are recognized under liabilities and will \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">be recognized in the income statement as the delivery \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">of paid products takes place. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">Share-based incentive plans in which employees can \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">only opt to buy shares in the Company (warrants) are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">measured at the equity instruments\u2019 fair value at the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">grant date and recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">over the vesting period. The balancing item is recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">nized directly in equity. The fair value on the date of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">grant is determined using the Black-Scholes model. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">Cash-based incentive programs in which employees \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0265em;\">can have the difference between the agreed exer- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">cise price and the actual share price settled in cash \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0247em;\">(phantom shares) are measured at fair value at the date \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2037em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">of grant and recognized in the income statement over \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">the period when the final right of cash-settlement is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8699em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">obtained. Granted rights are subsequently re-measured \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7031em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">on each balance sheet date and upon final settlement, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5362em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">and any changes in the fair value of the programs are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3693em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">recognized in the income statement. The balancing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2024em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">item is recognized under other liabilities. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8693em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">The fair value of the cash-based incentive programs is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7024em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">determined using the Black-Scholes model. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3693em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">Restricted stock units and performance restricted stock \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2024em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">units are measured at fair value at grant date. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.8693em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">For Executive Management cash bonus converted to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.7024em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">restricted stock units, the number of restricted stock \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.5356em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">units are calculated by dividing the allocated cash \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.3687em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">bonus amount by the share price of the Company at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.2018em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">grant date. As the cash bonus has already been accrued \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:37.0349em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">and expensed in the income statement, the grant \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2018em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">of restricted stock units has no additional impact on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0349em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">the income statement. The accrued liability for the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8681em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">converted cash bonus is reclassified to equity. Matching \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7012em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">shares are measured at the same fair value as the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5343em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">initial restricted stock units and expensed over the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3674em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">three year vesting period. The balancing item is recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.2006em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">nized directly in equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8674em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">Performance restricted stock units granted to Execu- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.7006em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">tive Management as part of their long term incentive \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.5337em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">scheme are expensed over the three year vesting \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3668em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">period with the balancing item recognized directly in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1999em;\"><span class=\"stl_532 stl_08 stl_144\">equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8668em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.034em;\">Restricted stock units granted as sign-on bonus for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.6999em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">members of the Executive Management and restricted \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5331em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">stock units granted to the Board of Directors are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3662em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">expensed at grant date with the balancing item recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.1993em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">nized directly in equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8606em;\"><span class=\"stl_585 stl_15 stl_360\" style=\"word-spacing:-0.033em;\">Incentive plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.6993em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0256em;\">In order to motivate and retain key employees and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.5324em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">encourage the achievement of common goals for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3656em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">employees, management and shareholders, the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.1987em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">Company has established incentive plans by way of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.0318em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">warrant programs and restricted stock units programs, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.8649em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">the latter only for members of the Executive Manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.6981em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">ment and Board of Directors. Furthermore, the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.5312em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Company has established three-year phantom share \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:35.3643em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">programs for all employees of the Group except for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.1974em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">Executive Management and other employees receiving \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:37.0306em;\"><span class=\"stl_532 stl_08 stl_440\">warrants. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.1918em;\"><span class=\"stl_585 stl_15 stl_248\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.0306em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">The Board of Directors has been granting warrants to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.8637em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">the Company\u00b4s management and selected employees \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:13.6968em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">of the Company and its subsidiaries. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:15.3637em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">The warrants are granted in accordance with the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:16.1968em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">authorizations given to the Board of Directors by the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.0299em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">shareholders. The Board of Directors has fixed the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.8631em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">terms of and the size of the grants of warrants, taking \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:18.6962em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">into account authorizations from the shareholders, the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:19.5293em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">Group's guidelines for incentive pay, an assessment of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:20.3624em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">expectations of the recipient\u00b4s work efforts and contri- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:21.1956em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0263em;\">bution to the Group\u00b4s growth, as well as the need to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:22.0287em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">motivate and retain the recipient. Grant takes place on \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:22.8618em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">the date of establishment of the program. Exercise of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:23.6949em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">warrants is by default subject to continuing employ- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:24.5281em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">ment with the Group. The warrants granted are subject \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:25.3612em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">to the provisions of the Danish Public Companies Act \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:26.1943em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">regarding termination of employees prior to their \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.0274em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">exercise of warrants in the case of recipients who are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.8606em;\"><span class=\"stl_532 stl_08 stl_176\" style=\"word-spacing:-0.0377em;\">subject to the act. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">The purchase price for the acquisition comprises of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">identifiable assets and liabilities and contingent liabil- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">ities assumed measured at fair value at the date of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">acquisition by applying relevant valuation methods. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Acquisition-related costs are expensed as incurred. Cost \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0296em;\">of acquired product rights are measured at cash consid- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">eration and present value of any probable deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">milestone payments for those rights. A corresponding \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">deferred consideration is recognized at initial recogni- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">tion. Subsequently, the deferred consideration is meas- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.5368em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">ured at amortized cost. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2085": {
   "value": "<div class=\"stl_01\" style=\"left:21.7325em;top:10.1676em;\"><span class=\"stl_585 stl_15 stl_280\" style=\"word-spacing:-0.0343em;\">Implementation of new and revised standards and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0008em;\"><span class=\"stl_585 stl_15 stl_174\">interpretations \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8395em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">Management has assessed the impact of new or \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.6726em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">amended and revised accounting standards and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5058em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">interpretations (IFRSs) issued by the IASB and IFRS \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3389em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">Accounting Standards endorsed by the European Union \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.172em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">effective on or after January 1, 2023. It is assessed that \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.0051em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0353em;\">application of amendments effective from January 1, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8383em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">2023 has not had a material impact on the consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.6714em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">financial statements for 2023. Furthermore, Manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.5045em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">ment does not anticipate any significant impact on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3376em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0385em;\">future periods from the adoption of these amendments. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2075": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.1708em;\"><span class=\"stl_585 stl_15 stl_280\" style=\"word-spacing:-0.0341em;\">Basis of preparation \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.0095em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">The consolidated financial statements for Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8426em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">Nordic have been prepared in accordance with the IFRS \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.6758em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">Accounting Standards as adopted by the EU and Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5089em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">disclosure requirements for the consolidated financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.342em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">statements of listed companies. Danish disclosure \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1751em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">requirements for the presentation of consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0083em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">financial statements are imposed by the Statutory \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8414em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">Order on Adoption of IFRS Accounting Standards issued \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6745em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0257em;\">under the Danish Financial Statements Act (Class D). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3414em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">The accounting policies are unchanged from last year \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.1745em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">except for changes due to implementation of new and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0076em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">revised standards that were effective January 1, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.6745em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">The consolidated financial statements are presented in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5076em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">Danish kroner (DKK), which is the functional currency of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3408em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0224em;\">the parent company. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.0076em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">The consolidated financial statements are presented on \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8408em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">a historical cost basis, apart from derivative financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.6739em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">instruments, securities and liability relating to phantom \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.507em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">shares, which are measured at fair value. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.1739em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">The accounting policies have been consistently applied \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.007em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">for the financial year and for the comparative figures \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8401em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">except for implementation of new standards and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.6733em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">amendments, see further below. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.3401em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">In the narrative sections of the consolidated financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.1733em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">statements comparative figures for 2022 are shown in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.0064em;\"><span class=\"stl_532 stl_08 stl_177\">brackets. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2076": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.1708em;\"><span class=\"stl_585 stl_15 stl_280\" style=\"word-spacing:-0.0341em;\">Basis of preparation \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.0095em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">The consolidated financial statements for Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8426em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">Nordic have been prepared in accordance with the IFRS \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.6758em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">Accounting Standards as adopted by the EU and Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5089em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">disclosure requirements for the consolidated financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.342em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">statements of listed companies. Danish disclosure \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1751em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">requirements for the presentation of consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0083em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">financial statements are imposed by the Statutory \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8414em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">Order on Adoption of IFRS Accounting Standards issued \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6745em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0257em;\">under the Danish Financial Statements Act (Class D). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3414em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">The accounting policies are unchanged from last year \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.1745em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">except for changes due to implementation of new and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0076em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">revised standards that were effective January 1, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.6745em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">The consolidated financial statements are presented in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5076em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">Danish kroner (DKK), which is the functional currency of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3408em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0224em;\">the parent company. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.0076em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">The consolidated financial statements are presented on \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8408em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">a historical cost basis, apart from derivative financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.6739em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">instruments, securities and liability relating to phantom \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.507em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">shares, which are measured at fair value. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.1739em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">The accounting policies have been consistently applied \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.007em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">for the financial year and for the comparative figures \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8401em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">except for implementation of new standards and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.6733em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">amendments, see further below. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.3401em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">In the narrative sections of the consolidated financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.1733em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">statements comparative figures for 2022 are shown in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.0064em;\"><span class=\"stl_532 stl_08 stl_177\">brackets. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.6658em;\"><span class=\"stl_585 stl_15 stl_16\" style=\"word-spacing:-0.0395em;\">Reporting under the ESEF Regulation \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.5045em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0257em;\">The Commission Delegated Regulation (EU) 2019/815 on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.3376em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">the European Single Electronic Format (ESEF Regulation) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.1708em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">requires the use of a particular electronic reporting \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.0039em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">format for annual reports of listed companies in the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.837em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">EU. More specifically, the ESEF Regulation requires the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.6701em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">annual report to be prepared in XHTML format with \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.5033em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">iXBRL tagging of the consolidated financial statements \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.3364em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">including notes. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.0033em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">The Company\u2019s iXBRL tagging has been made using \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.8364em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">the ESEF taxonomy disclosed in the annexes to the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.6695em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0353em;\">ESEF Regulation and developed based on the IFRS \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.5026em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">Accounting Standards taxonomy published by the IFRS \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.3358em;\"><span class=\"stl_532 stl_08 stl_37\">Foundation. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.0026em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">The line items in the consolidated financial statements \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.8358em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">are XBRL-tagged to the elements of the ESEF taxonomy \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.1764em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0245em;\">that are considered to match the content of those line \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.0095em;\"><span class=\"stl_532 stl_08 stl_160\" style=\"word-spacing:-0.0236em;\">items. For line items not considered to be covered by \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.8426em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">line items defined in the taxonomy, entity-specific \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.6758em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">extensions to the taxonomy have been incorporated. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5089em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">Except for subtotals, these extensions are anchored to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.342em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">standard elements of the ESEF taxonomy. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0089em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">Consistently with the requirements of the ESEF Regu- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.842em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">lation, the annual report approved by Management is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.6751em;\"><span class=\"stl_532 stl_08 stl_36\" style=\"word-spacing:-0.0226em;\">comprised of a ZIP file bava-2023-12-31-en.zip, which \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.5083em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">includes an XHTML file that may be opened using \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.3414em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">standard web browsers, and a number of technical \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.1745em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0334em;\">XBRL files enabling mechanical retrieval of the XBRL \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.0076em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">data incorporated. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:StatementOfIFRSCompliance",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2098": {
   "value": "<div class=\"stl_01\" style=\"left:55.7488em;top:15.9908em;\"><span class=\"stl_585 stl_15 stl_142\" style=\"word-spacing:-0.0364em;\">Foreign currency translation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:16.8295em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">On initial recognition, transactions denominated in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:17.6626em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">currencies other than the Group\u2019s functional currency \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:18.4958em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">are translated at the exchange rate ruling at the trans- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:19.3289em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">action date. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:20.9958em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">Receivables, payables and other monetary items \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:21.8289em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">denominated in foreign currencies that have not been \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:22.662em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">settled at the balance sheet date are translated at the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:23.4951em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">exchange rates at the balance sheet date. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:25.162em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">Exchange differences between the exchange rate at \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:25.9951em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">the date of the transaction and the exchange rate at \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:26.8283em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0223em;\">the date of payment or the balance sheet date, respec- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:27.6614em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">tively, are recognized in the income statement under \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:28.4945em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">financials. Property, plant and equipment and intan- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:29.3276em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">gible assets, inventories and other nonmonetary assets \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:30.1608em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">acquired in foreign currency and measured based on \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:30.9939em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">historical cost are translated at the exchange rates at \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:31.827em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">the transaction date. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:33.4939em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">On recognition in the consolidated financial state- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:34.327em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">ments of subsidiaries whose financial statements are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:35.1601em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">presented in a functional currency other than Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:35.9933em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">kroner (DKK), the income statements are translated at \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:36.8264em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">the average exchange rates of the respective months. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.1764em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">Balance sheet items are translated at the exchange \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.0095em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">rates at the balance sheet date. Exchange differences \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8426em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">arising on the translation of foreign subsidiaries\u2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.6758em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0283em;\">opening balance sheet items to the exchange rates at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5089em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">the balance sheet date and on the translation of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.342em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">income statements from average exchange rates of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1751em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">respective months to exchange rates at the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0083em;\"><span class=\"stl_532 stl_08 stl_87\" style=\"word-spacing:-0.0249em;\">sheet date are recognized as other comprehensive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8414em;\"><span class=\"stl_532 stl_08 stl_201\">income. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2078": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:22.6745em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">The consolidated financial statements are presented in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5076em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">Danish kroner (DKK), which is the functional currency of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3408em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0224em;\">the parent company. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2092": {
   "value": "<div class=\"stl_01\" style=\"left:38.7407em;top:29.3264em;\"><span class=\"stl_585 stl_15 stl_179\" style=\"word-spacing:-0.0346em;\">Basis of consolidation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:30.1651em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">The consolidated financial statements include Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:30.9983em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Nordic A/S and the subsidiaries in which the Group \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:31.8314em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">holds more than 50% of the voting rights or otherwise \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:32.6645em;\"><span class=\"stl_532 stl_08 stl_38\" style=\"word-spacing:-0.0244em;\">has control. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:34.3258em;\"><span class=\"stl_585 stl_15 stl_89\" style=\"word-spacing:-0.0357em;\">Principles of consolidation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:35.1645em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">The consolidated financial statements are prepared \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:35.9976em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">on the basis of the financial statements of the parent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:36.8308em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">company and the individual subsidiaries, and these are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:37.6639em;\"><span class=\"stl_532 stl_08 stl_88\" style=\"word-spacing:-0.0218em;\">prepared in accordance with the Group\u2019s accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:38.497em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">policies and for the same accounting period. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:10.1639em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Intra-group income and expenses together with all \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:10.997em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">intra-group profits, receivables and payables are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:11.8301em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">eliminated on consolidation. In the preparation of the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:12.6633em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">consolidated financial statements, the book value of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:13.4964em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">shares in subsidiaries held by the parent company is set \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:14.3295em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0343em;\">off against the equity of the subsidiaries. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2102": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:18.5026em;\"><span class=\"stl_585 stl_15 stl_485\" style=\"word-spacing:-0.0383em;\">Segment reporting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3414em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">The Group does not prepare segment reporting inter- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.1745em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">nally and therefore only reports one operating segment \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0076em;\"><span class=\"stl_532 stl_08 stl_217\">externally. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.6745em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">Geographic spilt of revenue and revenue from major \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5076em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">customers is disclosed in note 3 to the consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3408em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">financial statements. Geographic location of noncurrent \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.1739em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0283em;\">assets is disclosed in note 15 and 16 to the consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.007em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">financial statements. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2113": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:22.6689em;\"><span class=\"stl_585 stl_15 stl_21\" style=\"word-spacing:-0.0322em;\">Net asset value per share: \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6627em;top:23.5076em;\"><span class=\"stl_532 stl_08 stl_340\">Equity \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.4589em;\"><span class=\"stl_532 stl_08 stl_39\" style=\"word-spacing:-0.0232em;\">Number of shares at year-end \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.1201em;\"><span class=\"stl_585 stl_15 stl_78\" style=\"word-spacing:-0.0304em;\">Share price/Net asset value per share: \u00a0</span></div><div class=\"stl_01\" style=\"left:39.1358em;top:26.9589em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">Market price per share \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.9101em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Net asset value per share \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.5714em;\"><span class=\"stl_585 stl_15 stl_344\" style=\"word-spacing:-0.0347em;\">Equity share, %: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:30.4101em;\"><span class=\"stl_532 stl_08 stl_442\" style=\"word-spacing:-0.0374em;\">Equity x 100 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7595em;top:31.3614em;\"><span class=\"stl_532 stl_08 stl_50\" style=\"word-spacing:-0.023em;\">Total assets \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.0283em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">Earnings per share and diluted earnings per share are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.8614em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">calculated in accordance with IAS 33 \u201cEarnings per \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:34.6945em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">share\u201d and specified in note 14. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Earnings per share is calculated as the profit or loss \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0261em;\">for the year compared to the weighted average of the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">issued shares in the financial year. The basis for the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2049em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">calculation of diluted earnings per share is the weight- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0381em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">ed-average number of ordinary shares in the financial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8712em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">year adjusted for the dilutive effects of warrants. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2104": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:27.6683em;\"><span class=\"stl_585 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Cash flow statement \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.507em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0261em;\">The cash flow statement is prepared in accordance with \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.3401em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0265em;\">the indirect method on the basis of the Group\u2019s net \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.1733em;\"><span class=\"stl_532 stl_08 stl_377\" style=\"word-spacing:-0.0202em;\">result for the year. The statement shows the Group\u2019s \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.0064em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">cash flows broken down into operating, investing and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8395em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">financing activities, cash and cash equivalents at year \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.6726em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">end and the impact of the calculated cash flows on the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5058em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">Group\u2019s cash and cash equivalents. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.1726em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">Cash flows in foreign currencies are translated into \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.0058em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Danish kroner (DKK) at the exchange rate on the trans- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.8389em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">action date. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.172em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">In the cash flows from operating activities, net profit for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0051em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">the year is adjusted for non-cash operating items and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8383em;\"><span class=\"stl_532 stl_08 stl_89\" style=\"word-spacing:-0.0359em;\">changes in working capital. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5051em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Cash flows from investing activities include cash flows \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3383em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">from the purchase and sale of intangible assets, prop- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.1714em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">erty, plant and equipment, investments and securities. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8383em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">Cash flows from financing activities include cash flows \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.6714em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">from the raising and payment of loans and capital \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.5045em;\"><span class=\"stl_532 stl_08 stl_175\">increases. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.1714em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">Additionally, cash flows from assets held under finance \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.0045em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">leases are recognized by way of lease payments made. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2114": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_139\" style=\"word-spacing:0.0134em;\">Key accounting estimates and judgments \u00a0</span></div><div class=\"stl_01\" style=\"left:6.3911em;top:9.9916em;\"><span class=\"stl_517 stl_15 stl_217\" style=\"word-spacing:-0.0239em;\">Key accounting estimates \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.0384em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">In the preparation of the consolidated financial state- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8715em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">ments, Management makes a number of accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.7046em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">estimates, which form the basis for the presentation, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5378em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">recognition and measurement of the Group's assets and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3709em;\"><span class=\"stl_532 stl_08 stl_78\">liabilities. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0378em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">The recognition and measurement of assets and liabil- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8709em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">ities often depend on future events that are somewhat \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.704em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">uncertain. In that connection, it is necessary to assume \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5371em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">a course of events that reflects Management\u2019s assess- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3703em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">ment of the most probable course of events. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0371em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">The key accounting estimates identified are those that \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8703em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0262em;\">have a significant risk of resulting in a material adjust- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.7034em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">ment to the measurement of assets and liabilities in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5365em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">the following reporting period. Management bases its \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3696em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">estimates on historical experience and various other \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.2028em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">assumptions that are held to be reasonable under the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.0359em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">circumstances. The estimates and underlying assump- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0359em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">tions are reviewed on an ongoing basis. If necessary, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.869em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">changes are recognised in the period in which the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.7021em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">estimate is revised. Management considers the key \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5353em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">accounting estimates to be reasonable and appropriate \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3684em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">based on currently available information. The actual \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.2015em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">amounts may differ from the amounts estimated as \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.0346em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">more detailed information becomes available. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.7015em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">When determining the possible impact from climate \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.5346em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0343em;\">risks on the financial reporting, management has \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3678em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">assessed that the effect of climate related risks do \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.2009em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">not significantly impact estimates and assumptions. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.034em;\"><span class=\"stl_532 stl_08 stl_38\" style=\"word-spacing:-0.0243em;\">Likewise, it is not estimated to have any significant \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8671em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">accounting impact. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.534em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">Management has made the following accounting esti- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.3671em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">mates which significantly affect the amounts recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.2003em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">nized in the consolidated financial statements: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.3016em;\"><span class=\"stl_191 stl_15 stl_193\" style=\"word-spacing:-0.035em;\">Accounting policy \u00a0</span></div><div class=\"stl_01\" style=\"left:12.2269em;top:28.3016em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0282em;\">Key accounting estimates \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0557em;top:28.3016em;\"><span class=\"stl_191 stl_15 stl_51\">Note \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.9916em;\"><span class=\"stl_277 stl_08 stl_36\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:12.2269em;top:29.9916em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">Estimate of US sales deductions and provisions for sales rebates \u00a0</span></div><div class=\"stl_01\" style=\"left:36.0888em;top:29.9916em;\"><span class=\"stl_277 stl_08 stl_24\">3</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.0135em;\"><span class=\"stl_277 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">Intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:12.2269em;top:31.0135em;\"><span class=\"stl_277 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Estimate regarding impairment of assets; assessment whether future sales \u00a0</span></div><div class=\"stl_01\" style=\"left:35.7782em;top:31.0129em;\"><span class=\"stl_277 stl_08 stl_465\">15 \u00a0</span></div><div class=\"stl_01\" style=\"left:12.2269em;top:31.8466em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">and development milestones have become probably; assessment whether \u00a0</span></div><div class=\"stl_01\" style=\"left:12.2269em;top:32.6797em;\"><span class=\"stl_277 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">development costs should be expensed or capitalized \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.7016em;\"><span class=\"stl_277 stl_08 stl_41\">Inventories \u00a0</span></div><div class=\"stl_01\" style=\"left:12.2269em;top:33.7016em;\"><span class=\"stl_277 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">Estimate of indirect production costs capitalized and inventory write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:35.775em;top:33.7016em;\"><span class=\"stl_277 stl_08 stl_317\">18 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.7235em;\"><span class=\"stl_277 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">Acquisition of businesses</span></div><div class=\"stl_01\" style=\"left:12.226em;top:34.7235em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">Estimate of fair value for identifiable net assets for which observable market \u00a0</span></div><div class=\"stl_01\" style=\"left:35.77em;top:34.7235em;\"><span class=\"stl_277 stl_08 stl_383\">32 \u00a0</span></div><div class=\"stl_01\" style=\"left:12.2269em;top:35.5566em;\"><span class=\"stl_277 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">prices are not available \u00a0</span></div><div class=\"stl_01\" style=\"left:40.3324em;top:10.5216em;\"><span class=\"stl_517 stl_15 stl_217\" style=\"word-spacing:-0.0239em;\">Key accounting estimates \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.5628em;\"><span class=\"stl_585 stl_15 stl_278\" style=\"word-spacing:-0.0359em;\">Provisions for sales deductions \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.4016em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Sales discounts and rebates are predominantly issued \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.2347em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">in the US in connection with the US Federal and State \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.0678em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">Government Healthcare programs, namely Medicare \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.9009em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">and Medicaid, and commercial rebates. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.5678em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">The estimate of sales discounts and rebates is based on \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.4009em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">a calculation which includes a combination of historical \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.2341em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">utilization data, combined with expectations in relation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.0672em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">to the development in sales and utilization. Further- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.9003em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">more, specific circumstances regarding the different \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.7334em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">programs are considered. The obligations concerning \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.5666em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">sales discounts and rebates are incurred at the time the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.3997em;\"><span class=\"stl_532 stl_08 stl_87\" style=\"word-spacing:-0.0249em;\">sale is recorded. However, the actual discount or rebate \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.2328em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0223em;\">related to a specific sale may be invoiced later. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.8997em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">Bavarian Nordic considers the provisions established \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.7328em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">for sales discounts and rebates to be reasonable and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.5659em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">appropriate based on currently available information. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.3991em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">However, the actual amount of discounts and rebates \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.2322em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">may differ from the amounts estimated as more \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.0653em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">detailed information becomes available. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.5597em;\"><span class=\"stl_585 stl_15 stl_23\" style=\"word-spacing:-0.0409em;\">Partner contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.3984em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Whether a component of a multiple element contract \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.2316em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">has value to the partner on a stand-alone basis is based \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.0647em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">on an assessment of specific facts and circumstances \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.8978em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">and is associated with judgement. This applies also to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.7309em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">the assessment of whether a license transfers rights \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.5641em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">associated with ownership of an intangible asset. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.3972em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Furthermore, allocation of the total consideration of a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.2303em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">contract to separately identifiable components requires \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.0634em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">considerable estimates and judgement to be made by \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.8966em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">Management. At inception and throughout the life of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.7297em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">a contract Management is performing an analysis of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.5628em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">the agreement with its partners based on available \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.3959em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">facts and circumstances at each assessment date \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.2291em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">such as historical experience and knowledge from the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.0622em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">market to the extent obtainable. This includes also an \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.8953em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0349em;\">understanding of the purpose of the deliverables under \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.7284em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">the contract and the negotiation taken place prior to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.5616em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">concluding the contract. \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3141em;top:10.3531em;\"><span class=\"stl_517 stl_15 stl_217\" style=\"word-spacing:-0.0239em;\">Key accounting estimates \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:11.3943em;\"><span class=\"stl_585 stl_15 stl_441\" style=\"word-spacing:-0.0378em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:12.2331em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">When determining the amortization period for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:13.0662em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">acquired product rights, Management need to make \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:13.8993em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">an assessment of expected useful economic life. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:14.7324em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">In the assessment Management take among other \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:15.5656em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">things the following components into consideration: \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:16.3987em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">The maturity of the products acquired, development \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:17.2318em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">in the market the acquired products are targeting, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:18.0649em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">the current competitors, clinical development of new \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:18.8981em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">competing products and entry barriers to the market \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:19.7312em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">due to advanced production technology. Straight-line \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:20.5643em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">amortization reflects the use and impairment of the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:21.3974em;\"><span class=\"stl_532 stl_08 stl_215\" style=\"word-spacing:-0.0385em;\">product rights. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:23.0643em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0323em;\">Management continuously updates the valuation model \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:23.8974em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">used when acquiring the product rights from GSK to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:24.7306em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">assess the value creation expected from the acquisi- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:25.5637em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">tion. The latest update of the valuation model shows \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:26.3968em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">a value above the net present value of the purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:27.2299em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">price, hence there is no indications of impairment. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:28.8968em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">As per December 31, 2022 Management still judge that \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:29.7299em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0354em;\">the sales milestone of EUR 25 million included in Asset \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:30.5631em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Purchase Agreement is not probable and therefore the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:31.3962em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">present value has not been added to the cost of the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:32.2293em;\"><span class=\"stl_532 stl_08 stl_215\" style=\"word-spacing:-0.0385em;\">product rights. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.3324em;top:10.3531em;\"><span class=\"stl_517 stl_15 stl_55\" style=\"word-spacing:-0.0273em;\">Key accounting judgments \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.3999em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Management has made the following accounting judg- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.2331em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">ments which significantly affect the amounts recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.0662em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">nized in the consolidated financial statements: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.7274em;\"><span class=\"stl_585 stl_15 stl_334\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.5662em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0247em;\">Under the Group\u2019s accounting policies and in accordance \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.3993em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">with common industry practice, development costs are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.2324em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">generally expensed in the year they occur. During the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.0656em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">development of ABNCoV2, the Group has, however, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.8987em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">started capitalization of directly related development \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.7318em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">cost at commencement of the phase 2 and 3 studies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.5649em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">as \u2013 unlike most other development candidates - the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.3981em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">feasibility of developing a final vaccine and obtain \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.2312em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0273em;\">regulatory approval is considered highly likely. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.3981em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">Following the Phase 3 results announced in August, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.2312em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">where ABNCoV2 demonstrated a reduced level of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.0643em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">neutralizing antibodies against a circulating variant, the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.8974em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">asset no longer represented a commercial opportunity \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.7306em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">for Bavarian Nordic as the regulators, EMA and FDA, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.5637em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0234em;\">could not accept a submission for licensure. Therefore, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.3968em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">Management decided to fully write-down all assets \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.2299em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">and liabilities related to the development program. The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.0631em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">impact on the financials for 2023 is shown in note 32. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:10.2094em;\"><span class=\"stl_585 stl_15 stl_441\" style=\"word-spacing:-0.0378em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:11.0482em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">December 31, 2019 the Company acquired the product \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:11.8813em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">rights to two commercial products owned by GSK \u2013 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:12.7144em;\"><span class=\"stl_532 stl_08 stl_218\" style=\"word-spacing:-0.0208em;\">Rabipur/RabAvert and Encepur. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:14.3813em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">The products have been on the market for more than \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:15.2144em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">20 years. There is no need to further develop the prod- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:16.0475em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">ucts. Management assesses that it will require up to 10 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:16.8807em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">years of clinical development for competitors to bring \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:17.7138em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">a new competing product to the market likewise the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:18.5469em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">production process required to produce these products \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:19.38em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">is highly complex. Based on these factors Management \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:20.2132em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">assesses that the acquired product rights should be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:21.0463em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">amortized over 20 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:22.7132em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">The acquisition price for the two product rights consists \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:23.5463em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">of the upfront payment and the present value of the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:24.3794em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">milestone payments included in the Asset Purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:25.2125em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Agreement with GSK. The milestone payments relate to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:26.0457em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">transfer and re-registration of marketing authorizations, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:26.8788em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">technology transfer of different steps of the produc- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:27.7119em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">tion and packaging activities as well as a milestone \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:28.545em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">payment when all services agreed to be rendered has \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:29.3782em;z-index:2275;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">been completed. The Asset Purchase Agreement spe</span><span class=\"stl_532 stl_08 stl_644\">c</span><span class=\"stl_532 stl_08 stl_644\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:30.2113em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">ifies the above milestone payments for each product. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:31.0444em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">In total EUR 470 million. The Asset Purchase Agreement \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:31.8775em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">also includes a sales milestone of EUR 25 million. The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:32.7107em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">sales milestone is related to the total revenue of the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:33.5438em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">two products. Management deems it unlikely that the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:34.3769em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">sales milestone will be trickered, hence the sales mile- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:35.21em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">stone has not been recognized as part of the asset nor \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:36.0432em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">the deferred consideration as per December 31, 2021. \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5182em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.4532em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_76\" style=\"word-spacing:-0.0425em;\">Carrying amount \u00a0</span></div><div class=\"stl_01\" style=\"left:33.2495em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_199\">Remaining \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:12.2289em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:17.5826em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_21\" style=\"word-spacing:-0.0322em;\">Acquistion price \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7776em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_572\" style=\"word-spacing:-0.0127em;\">December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5976em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_340\" style=\"word-spacing:-0.0396em;\">amortization period \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:13.9133em;\"><span class=\"stl_277 stl_08 stl_377\">Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:19.6289em;top:13.9133em;\"><span class=\"stl_277 stl_08 stl_312\">3,140,250 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6551em;top:13.9133em;\"><span class=\"stl_277 stl_08 stl_430\">2,512,200 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.127em;top:13.9133em;\"><span class=\"stl_277 stl_08 stl_366\" style=\"word-spacing:-0.0052em;\">16 years \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_34\">Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:19.5807em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_426\">2,318,450 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6795em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_490\">1,854,760 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.127em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_366\" style=\"word-spacing:-0.0052em;\">16 years \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_35\">Vivotif \u00a0</span></div><div class=\"stl_01\" style=\"left:20.0707em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_169\">312,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1632em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_358\">291,357 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.9732em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_324\" style=\"word-spacing:-0.003em;\">9.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_58\">Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:20.1351em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_369\">137,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.2407em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_579\">133,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.6626em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_99\" style=\"word-spacing:0.006em;\">19.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_360\" style=\"word-spacing:-0.0331em;\">Total product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:26.4507em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_422\">4,791,442 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0512em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Deferred consideration for the acquired product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8843em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">are described in note 24. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5512em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">In May 2023, the Company concluded a Purchase and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3843em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">Sale Agreement with Emergent BioSolutions. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.2175em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">agreement included acquisition of product rights to two \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.0506em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">commercial travel vaccines \u2013 Vivotif and Vaxchora. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.7175em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">Vivotif and Vaxchora were first licensed in the US in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.5506em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0249em;\">1989 and 2016 respectively. Vaccines have historically \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.3837em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">shown to have a long lifespan due to stringent regu- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.2168em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">latory requirements, high research and development \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.05em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">costs and a complex manufacturing process. Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8831em;\"><span class=\"stl_532 stl_08 stl_59\" style=\"word-spacing:-0.024em;\">is targeting a market that has a relatively low market \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.7162em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">value, which further lowers the chance of competitors \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5493em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">entering the market and taking significant market \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.3825em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">shares. Based on these factors Management assesses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.2156em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0345em;\">that the Vaxchora product right should be amortized \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.0487em;\"><span class=\"stl_532 stl_08 stl_64\" style=\"word-spacing:-0.02em;\">over 20 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.0487em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Vivotif was developed more than 30 years ago and the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8818em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">market is larger than for Vaxchora. Therefore, the risk of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.715em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">competition is also deemed higher, hence the amorti- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.5481em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">zation period is assessed to be 10 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.215em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">The acquisition price for the two product rights consists \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.0481em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">of an upfront payment of DKK 312 million for Vivotif and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.8812em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">DKK 137 million for Vaxchora. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.5481em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">The Purchase and Sale Agreement also includes \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.3812em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">an earnout payment starting at USD 30 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.2143em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">The earnout payment relates to sale of Vivotif and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.0475em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">Vaxchora. As per December 31, 2023 Management does \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.8806em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">not judge the sales milestone to be probable and there- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.7137em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">fore the earnout payment has not been recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.5468em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">either part of the project rights nor the deferred consid- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.38em;\"><span class=\"stl_532 stl_08 stl_213\">eration. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:10.2087em;\"><span class=\"stl_585 stl_15 stl_334\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.0474em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.8806em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Emergent BioSolutions included acquisition of a late- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.7137em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">stage vaccine candidate for chikungunya virus. The \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:13.5468em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">initial acquisition price amounted to DKK 788 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:14.3799em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">The Company will complete the Phase 3 study and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:15.2131em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">submit for approval. No further cost will be capitalized. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:16.8799em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">The agreement with Emergent BioSolutions also \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.7131em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">included milestone payments totaling USD 80 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:18.5462em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">related to submission and approval of Biologics License \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:19.3793em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">Application (BLA) to FDA and Marketing Authorization \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:20.2124em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">Application to EMA for the chikungunya development \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:21.0456em;\"><span class=\"stl_532 stl_08 stl_58\">asset. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:22.7124em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">At initial recognition the net present value of probable \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:23.5456em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">future development milestone payments to Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:24.3787em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">BioSolutions amounted to DKK 499 million and was \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:25.2118em;\"><span class=\"stl_532 stl_08 stl_84\" style=\"word-spacing:-0.0221em;\">recognized as deferred consideration (note 24). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:26.8731em;\"><span class=\"stl_585 stl_15 stl_159\" style=\"word-spacing:-0.0345em;\">Write-down of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.7118em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">See note 32 for a summarized income statement and a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:28.5449em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">summarized financial position showing how the write- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:29.3781em;\"><span class=\"stl_532 stl_08 stl_142\" style=\"word-spacing:-0.0365em;\">down has impacted the Annual Report. \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3245em;top:10.3531em;\"><span class=\"stl_517 stl_15 stl_195\" style=\"word-spacing:-0.0285em;\">Significant accounting estimates \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:11.3999em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">Production overheads are measured on the basis of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:12.2331em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">actual costs. The basis of the actual costs is reassessed \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:13.0662em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">regularly to ensure that they are adjusted for changes \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:13.8993em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">in the utilization of production capacity, production \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:14.7324em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">changes and other relevant factors. Biological living \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:15.5656em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">material is used, and the measurements and assump- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:16.3987em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">tions for the estimates made may be incomplete or \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:17.2318em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">inaccurate, and unexpected events or circumstances \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:18.0649em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">may occur, which may cause the actual outcomes to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:18.8981em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">later deviate from these estimates. It may be necessary \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:19.7312em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0283em;\">to change previous estimates as a result of changes in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:20.5643em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">the assumptions on which the estimates were based \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:21.3974em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">or due to new information or subsequent events, for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:22.2306em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">which certainty could not be achieved in the earlier \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:23.0637em;\"><span class=\"stl_532 stl_08 stl_175\">estimates. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:24.7306em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">Estimates that are material to the financial reporting \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:25.5637em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">are made in the determination of any impairment of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:26.3968em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">inventories as a result of 'out-of-specification' products, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:27.2299em;\"><span class=\"stl_532 stl_08 stl_340\" style=\"word-spacing:-0.0397em;\">expiry of products and sales risk. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2118": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 3 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_167\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0735em;top:10.2008em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.0753em;\"><span class=\"stl_585 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">Sale of goods \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.914em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Revenue from sale of goods is recognized when \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.7472em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">Bavarian Nordic has transferred control of products sold \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5803em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">to the buyer and it is probable that Bavarian Nordic \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.4134em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">will collect the consideration to which it is entitled \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.2465em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0355em;\">for transferring the products. Control of the products \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0797em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">is transferred at a point in time, typically on delivery. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.9128em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">The amount of sales to be recognized is based on the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.7459em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">consideration Bavarian Nordic expects to receive in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.579em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">exchange for its goods. When sales are recognized, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.4122em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">Bavarian Nordic also records estimates for a variety of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.2453em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">sales deductions, including product returns as well as \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.0784em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">rebates and discounts to government agencies, whole- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.9115em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">salers, health insurance companies, managed health- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.7447em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">care organisations and retail customers. Revenue is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.5778em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">measured net of value added tax, duties, etc. collected \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.4109em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">on behalf of a third party. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.0778em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Where contracts contain customer acceptance criteria, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.9109em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">Bavarian Nordic recognizes sales when the acceptance \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.744em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">criteria are satisfied. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.4109em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">Where absolute amounts are known, the rebates are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:30.244em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">recognized as other liabilities. Wholesaler charge-backs \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.0772em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">are netted against trade receivable balances. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:32.744em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">The pricing mechanisms in the US market and the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.5772em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">different kind of rebates are described below. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:35.2372em;\"><span class=\"stl_600 stl_496 stl_278\" style=\"word-spacing:-0.0362em;\">Pricing mechanisms in the US market \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.0772em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">In the US, sales rebates are paid in connection with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.9103em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">government and commercial programmes. Key \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.0772em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">customers in the US include private payers, Group \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.9103em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">Purchasing Organizations (GPOs) and government \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.7434em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">payers. GPOs play a role in negotiating price conces- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.5765em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">sions with drug manufacturers for the commercial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.4097em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">channels, and determine which drugs are offered as \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.2428em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">preferred options on their drug lists. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.9009em;\"><span class=\"stl_600 stl_496 stl_440\" style=\"word-spacing:-0.0387em;\">Wholesaler charge-backs \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.7409em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">Wholesaler charge-backs relate to contractual arrange- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:28.574em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0347em;\">ments between Bavarian Nordic and indirect customers \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:29.4072em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">whereby products are sold at contract prices lower \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:30.2403em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">than the list price originally charged to wholesalers. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.0734em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">A wholesaler charge-back represents the difference \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.9065em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">between the invoice price to the wholesaler and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.7397em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">indirect customer\u2019s contract price. Accruals are calcu- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:33.5728em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">lated for estimated charge-backs using a combination \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:34.4059em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">of factors such as historical experience, current whole- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:35.239em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">saler inventory levels, contract terms and the value of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.0722em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0253em;\">claims received but not yet processed. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.9028em;\"><span class=\"stl_600 stl_496 stl_174\" style=\"word-spacing:-0.0324em;\">US Medicaid &amp; Medicare rebates \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.7428em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">Medicaid &amp; Medicare are government insurance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.5759em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">programmes. Medicaid and Medicare rebates have \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.409em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">been estimated using a combination of historical expe- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.2422em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">rience, product and population growth, price increases, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.0753em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0347em;\">and the impact of contracting strategies. The calcula- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.9084em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0261em;\">tion also involves interpretation of relevant regulations \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.7415em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">that are subject to changes in interpretative guidance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.5747em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">from government authorities. Bavarian Nordic adjusts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.4078em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">the provision periodically to reflect actual sales perfor- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.2409em;\"><span class=\"stl_532 stl_08 stl_39\">mance. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.579em;\"><span class=\"stl_600 stl_496 stl_193\" style=\"word-spacing:-0.0351em;\">Other discounts and sales returns \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.419em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">Other discounts are provided to wholesalers, hospi- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.2521em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">tals, pharmacies, etc. They are usually linked to sales \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.0852em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">volume or provided as cash discounts. Accruals are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.9183em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">calculated based on historical data and recorded as a \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.7515em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">reduction in gross sales at the time the related sales \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.5846em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">are recorded. Sales returns are related to damaged or \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.4177em;\"><span class=\"stl_532 stl_08 stl_204\" style=\"word-spacing:-0.037em;\">expired products. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.079em;\"><span class=\"stl_585 stl_15 stl_93\" style=\"word-spacing:-0.0356em;\">Sale of services and licenses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.9177em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Furthermore, revenue comprises the fair value of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.7508em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">consideration received or receivable for income derived \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.584em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">from development services where revenue is measured \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.4171em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">at the expected net sales price. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.084em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">Sales of licences that transfer the rights associated with \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.9171em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">ownership of intellectual property are recognized at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.7502em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0283em;\">a point in time when control is transferred. Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.5833em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">from development services and licences that do not \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.4165em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">transfer the right of ownership to intellectual property \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.2496em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">are recognized over time in line with the execution and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.0827em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.035em;\">delivery of the work. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.5827em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0327em;\">Agreements with commercial partners generally \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.4158em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">include non-refundable upfront license and collabora- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.249em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">tion fees, milestone payments, the receipt of which is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.0821em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">dependent upon the achievement of certain clinical, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.9152em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">regulatory or commercial milestones, as well as royal- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.7483em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">ties on product sales of licensed products, if and when \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.5815em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">such product sales occur, and revenue from the supply \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.4146em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">of products. For these agreements that include multiple \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.2477em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">elements, total contract consideration is attributed to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.0808em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">separately identifiable components on a reliable basis \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.914em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">that reasonably reflects the selling prices that might be \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.7471em;\"><span class=\"stl_532 stl_08 stl_89\" style=\"word-spacing:-0.0358em;\">expected to be achieved in stand-alone transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.5802em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">provided that each component has value to the partner \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.4133em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">on a stand-alone basis. The allocated consideration is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.2465em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">recognized as revenue in accordance with the principles \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.0796em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">described above. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.3324em;top:10.5216em;\"><span class=\"stl_517 stl_15 stl_217\" style=\"word-spacing:-0.0239em;\">Key accounting estimates \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.5628em;\"><span class=\"stl_585 stl_15 stl_278\" style=\"word-spacing:-0.0359em;\">Provisions for sales deductions \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.4016em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Sales discounts and rebates are predominantly issued \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.2347em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">in the US in connection with the US Federal and State \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.0678em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">Government Healthcare programs, namely Medicare \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.9009em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">and Medicaid, and commercial rebates. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.5678em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">The estimate of sales discounts and rebates is based on \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.4009em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">a calculation which includes a combination of historical \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.2341em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">utilization data, combined with expectations in relation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.0672em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">to the development in sales and utilization. Further- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.9003em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">more, specific circumstances regarding the different \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.7334em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">programs are considered. The obligations concerning \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.5666em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">sales discounts and rebates are incurred at the time the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.3997em;\"><span class=\"stl_532 stl_08 stl_87\" style=\"word-spacing:-0.0249em;\">sale is recorded. However, the actual discount or rebate \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.2328em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0223em;\">related to a specific sale may be invoiced later. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.8997em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">Bavarian Nordic considers the provisions established \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.7328em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">for sales discounts and rebates to be reasonable and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.5659em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">appropriate based on currently available information. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.3991em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">However, the actual amount of discounts and rebates \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.2322em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">may differ from the amounts estimated as more \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.0653em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">detailed information becomes available. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.5597em;\"><span class=\"stl_585 stl_15 stl_23\" style=\"word-spacing:-0.0409em;\">Partner contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.3984em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Whether a component of a multiple element contract \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.2316em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">has value to the partner on a stand-alone basis is based \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.0647em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">on an assessment of specific facts and circumstances \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.8978em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">and is associated with judgement. This applies also to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.7309em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">the assessment of whether a license transfers rights \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.5641em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">associated with ownership of an intangible asset. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.3972em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Furthermore, allocation of the total consideration of a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.2303em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">contract to separately identifiable components requires \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.0634em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">considerable estimates and judgement to be made by \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.8966em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">Management. At inception and throughout the life of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.7297em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">a contract Management is performing an analysis of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.5628em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">the agreement with its partners based on available \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.3959em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">facts and circumstances at each assessment date \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.2291em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">such as historical experience and knowledge from the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.0622em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">market to the extent obtainable. This includes also an \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.8953em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0349em;\">understanding of the purpose of the deliverables under \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.7284em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">the contract and the negotiation taken place prior to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.5616em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">concluding the contract. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.9583em;\"><span class=\"stl_191 stl_15 stl_39\" style=\"word-spacing:-0.0232em;\">Travel health \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_377\">Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:30.165em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_605\">1,161,162 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.27em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_134\">879,341 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_34\">Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:30.495em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_167\">416,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2157em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_333\">298,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_35\">Vivotif \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4763em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_161\">118,885 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1625em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_58\">Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7782em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_482\">23,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1625em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_440\" style=\"word-spacing:-0.0388em;\">Other product sale \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4694em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_387\">156,533 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.595em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_123\">78,414 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7782em;top:18.0895em;\"><span class=\"stl_191 stl_15 stl_128\" style=\"word-spacing:1.2279em;\">1,877,072 1,256,491 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.7083em;\"><span class=\"stl_191 stl_15 stl_193\" style=\"word-spacing:-0.035em;\">Public preparedness \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.7358em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">Mpox/smallpox vaccine sale \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0375em;top:20.7358em;\"><span class=\"stl_277 stl_08 stl_502\">5,027,001 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7538em;top:20.7358em;\"><span class=\"stl_277 stl_08 stl_188\">1,730,472 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.752em;\"><span class=\"stl_191 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">Sale of goods \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7257em;top:21.752em;\"><span class=\"stl_191 stl_15 stl_260\" style=\"word-spacing:1.1941em;\">6,904,073 2,986,963 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.3764em;\"><span class=\"stl_277 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">Milestone payments \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:23.3764em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.55em;top:23.3764em;\"><span class=\"stl_277 stl_08 stl_320\">83,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.3983em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">Contract work \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4644em;top:24.3983em;\"><span class=\"stl_277 stl_08 stl_244\">158,267 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5782em;top:24.3983em;\"><span class=\"stl_277 stl_08 stl_224\">80,782 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.4145em;\"><span class=\"stl_191 stl_15 stl_468\" style=\"word-spacing:-0.0389em;\">Sale of services \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3038em;top:25.4145em;\"><span class=\"stl_191 stl_15 stl_432\">158,267 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0819em;top:25.4145em;\"><span class=\"stl_191 stl_15 stl_399\">163,830 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.0333em;\"><span class=\"stl_191 stl_15 stl_35\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7688em;top:27.0333em;\"><span class=\"stl_191 stl_15 stl_132\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.6225em;top:27.0333em;\"><span class=\"stl_191 stl_15 stl_607\">3,150,793 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.652em;\"><span class=\"stl_191 stl_15 stl_42\" style=\"word-spacing:-0.0278em;\">Total revenue includes: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.6795em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">Fair value adjustment concerning financial instruments entered into to hedge revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1538em;top:29.6795em;\"><span class=\"stl_277 stl_08 stl_323\">5,016 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1632em;top:29.6795em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.9977em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Other product sale consists of the following: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.8308em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:32.8308em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Sale of Dukoral and Ixiaro licensed from Valneva \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.6639em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:33.6639em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">Sale of Heplisav licensed from Dynavax \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9583em;\"><span class=\"stl_191 stl_15 stl_200\" style=\"word-spacing:-0.034em;\">Geographic split of revenue: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_63\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:64.007em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_161\">2,577,081 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2664em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_224\">841,527 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_393\">Canada \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0039em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_291\">1,556,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3095em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_245\">197,283 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_55\">France \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4883em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_102\">740,256 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2958em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_302\">268,186 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_374\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5583em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_554\">714,136 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2377em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_254\">650,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_174\">Spain \u00a0</span></div><div class=\"stl_01\" style=\"left:64.477em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_399\">429,664 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6208em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_392\">11,972 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:18.0952em;\"><span class=\"stl_277 stl_08 stl_177\">Australia \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4989em;top:18.0952em;\"><span class=\"stl_277 stl_08 stl_152\">338,076 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6364em;top:18.0952em;\"><span class=\"stl_277 stl_08 stl_574\">97,655 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:19.117em;\"><span class=\"stl_277 stl_08 stl_43\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5314em;top:19.117em;\"><span class=\"stl_277 stl_08 stl_391\">107,738 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5864em;top:19.117em;\"><span class=\"stl_277 stl_08 stl_171\">70,986 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.1389em;\"><span class=\"stl_277 stl_08 stl_64\">Sweden \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8089em;top:20.1389em;\"><span class=\"stl_277 stl_08 stl_127\">71,966 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8795em;top:20.1389em;\"><span class=\"stl_277 stl_08 stl_87\">2,860 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:21.1608em;\"><span class=\"stl_277 stl_08 stl_393\">Chile \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8639em;top:21.1608em;\"><span class=\"stl_277 stl_08 stl_606\">65,188 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:21.1608em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:22.1827em;\"><span class=\"stl_277 stl_08 stl_384\">Taiwan \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8108em;top:22.1827em;\"><span class=\"stl_277 stl_08 stl_130\">53,796 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:22.1827em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:23.2045em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">United Kingdom \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7927em;top:23.2045em;\"><span class=\"stl_277 stl_08 stl_395\">44,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3152em;top:23.2045em;\"><span class=\"stl_277 stl_08 stl_538\">169,203 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:24.2264em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">Hong Kong \u00a0</span></div><div class=\"stl_01\" style=\"left:64.837em;top:24.2264em;\"><span class=\"stl_277 stl_08 stl_339\">13,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2945em;top:24.2264em;\"><span class=\"stl_277 stl_08 stl_306\">115,599 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.2483em;\"><span class=\"stl_277 stl_08 stl_440\" style=\"word-spacing:-0.0389em;\">Saudi Arabia \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1239em;top:25.2483em;\"><span class=\"stl_277 stl_08 stl_254\">4,839 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2452em;top:25.2483em;\"><span class=\"stl_277 stl_08 stl_326\">100,442 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2702em;\"><span class=\"stl_277 stl_08 stl_204\">Belgium \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3989em;top:26.2702em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.2533em;top:26.2702em;\"><span class=\"stl_277 stl_08 stl_388\">335,399 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.292em;\"><span class=\"stl_277 stl_08 stl_89\" style=\"word-spacing:-0.0359em;\">Other geographic markets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4377em;top:27.292em;\"><span class=\"stl_277 stl_08 stl_214\">344,897 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2714em;top:27.292em;\"><span class=\"stl_277 stl_08 stl_337\">289,473 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.9052em;\"><span class=\"stl_191 stl_15 stl_35\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7852em;top:28.9052em;\"><span class=\"stl_191 stl_15 stl_132\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6389em;top:28.9052em;\"><span class=\"stl_191 stl_15 stl_607\">3,150,793 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:31.2289em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0249em;\">In 2023 revenue achieved on the Danish market amounted to DKK 18.9 million (DKK 19.3 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:32.8958em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">In 2023 the following customers represented more than 10% of total revenue: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:33.7289em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:39.4495em;top:33.7289em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Biomedical Advanced Research and Development Authority (BARDA), USA, DKK 1,708.3 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:34.562em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:39.4495em;top:34.562em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">Health Canada/PHAC, Department of Health, Canada, DKK 1,534.8 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:35.3952em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:39.4495em;top:35.3952em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">Agence nationale de sant\u00e9 publique FR, France, DKK 729.9 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:37.062em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0257em;\">In 2022 no customer represented more than 10% of total revenue. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2133em;\"><span class=\"stl_585 stl_15 stl_159\" style=\"word-spacing:-0.0343em;\">Accounting for contract with Biomedical Advanced \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.0464em;\"><span class=\"stl_585 stl_15 stl_192\" style=\"word-spacing:-0.0327em;\">Research and Development Authority (BARDA) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">When drug substance batches are invoiced to BARDA \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">the batches remain in the Company's physical posses- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5514em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">sion until filling as final product. The filling takes place \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3845em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">either at the Company's facility in Kvistgaard or at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.2177em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0262em;\">CMO's (a bill-and-hold arrangement). Revenue is recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0508em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0273em;\">nized once the BDS are releasable according to contract \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8839em;\"><span class=\"stl_532 stl_08 stl_441\" style=\"word-spacing:-0.0377em;\">with BARDA. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5508em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">Payment is due within 30 days after invoicing. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2119": {
   "value": "<div class=\"stl_01\" style=\"left:40.0735em;top:10.2008em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.0753em;\"><span class=\"stl_585 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">Sale of goods \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.914em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Revenue from sale of goods is recognized when \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.7472em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">Bavarian Nordic has transferred control of products sold \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5803em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">to the buyer and it is probable that Bavarian Nordic \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.4134em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">will collect the consideration to which it is entitled \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.2465em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0355em;\">for transferring the products. Control of the products \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0797em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">is transferred at a point in time, typically on delivery. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.9128em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">The amount of sales to be recognized is based on the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.7459em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">consideration Bavarian Nordic expects to receive in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.579em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">exchange for its goods. When sales are recognized, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.4122em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">Bavarian Nordic also records estimates for a variety of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.2453em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">sales deductions, including product returns as well as \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.0784em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">rebates and discounts to government agencies, whole- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.9115em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">salers, health insurance companies, managed health- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.7447em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">care organisations and retail customers. Revenue is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.5778em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">measured net of value added tax, duties, etc. collected \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.4109em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">on behalf of a third party. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.0778em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Where contracts contain customer acceptance criteria, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.9109em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">Bavarian Nordic recognizes sales when the acceptance \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.744em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">criteria are satisfied. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.4109em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">Where absolute amounts are known, the rebates are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:30.244em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">recognized as other liabilities. Wholesaler charge-backs \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.0772em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">are netted against trade receivable balances. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:32.744em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">The pricing mechanisms in the US market and the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.5772em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">different kind of rebates are described below. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:35.2372em;\"><span class=\"stl_600 stl_496 stl_278\" style=\"word-spacing:-0.0362em;\">Pricing mechanisms in the US market \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.0772em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">In the US, sales rebates are paid in connection with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.9103em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">government and commercial programmes. Key \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.0772em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">customers in the US include private payers, Group \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.9103em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">Purchasing Organizations (GPOs) and government \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.7434em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">payers. GPOs play a role in negotiating price conces- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.5765em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">sions with drug manufacturers for the commercial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.4097em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">channels, and determine which drugs are offered as \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.2428em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">preferred options on their drug lists. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.9009em;\"><span class=\"stl_600 stl_496 stl_440\" style=\"word-spacing:-0.0387em;\">Wholesaler charge-backs \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.7409em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">Wholesaler charge-backs relate to contractual arrange- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:28.574em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0347em;\">ments between Bavarian Nordic and indirect customers \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:29.4072em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">whereby products are sold at contract prices lower \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:30.2403em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">than the list price originally charged to wholesalers. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.0734em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">A wholesaler charge-back represents the difference \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.9065em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">between the invoice price to the wholesaler and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.7397em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">indirect customer\u2019s contract price. Accruals are calcu- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:33.5728em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">lated for estimated charge-backs using a combination \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:34.4059em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">of factors such as historical experience, current whole- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:35.239em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">saler inventory levels, contract terms and the value of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.0722em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0253em;\">claims received but not yet processed. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.9028em;\"><span class=\"stl_600 stl_496 stl_174\" style=\"word-spacing:-0.0324em;\">US Medicaid &amp; Medicare rebates \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.7428em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">Medicaid &amp; Medicare are government insurance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.5759em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">programmes. Medicaid and Medicare rebates have \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.409em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">been estimated using a combination of historical expe- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.2422em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">rience, product and population growth, price increases, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.0753em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0347em;\">and the impact of contracting strategies. The calcula- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.9084em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0261em;\">tion also involves interpretation of relevant regulations \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.7415em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">that are subject to changes in interpretative guidance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.5747em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">from government authorities. Bavarian Nordic adjusts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.4078em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">the provision periodically to reflect actual sales perfor- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.2409em;\"><span class=\"stl_532 stl_08 stl_39\">mance. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.579em;\"><span class=\"stl_600 stl_496 stl_193\" style=\"word-spacing:-0.0351em;\">Other discounts and sales returns \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.419em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">Other discounts are provided to wholesalers, hospi- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.2521em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">tals, pharmacies, etc. They are usually linked to sales \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.0852em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">volume or provided as cash discounts. Accruals are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.9183em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">calculated based on historical data and recorded as a \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.7515em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">reduction in gross sales at the time the related sales \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.5846em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">are recorded. Sales returns are related to damaged or \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.4177em;\"><span class=\"stl_532 stl_08 stl_204\" style=\"word-spacing:-0.037em;\">expired products. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.079em;\"><span class=\"stl_585 stl_15 stl_93\" style=\"word-spacing:-0.0356em;\">Sale of services and licenses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.9177em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Furthermore, revenue comprises the fair value of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.7508em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">consideration received or receivable for income derived \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.584em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">from development services where revenue is measured \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.4171em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">at the expected net sales price. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.084em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">Sales of licences that transfer the rights associated with \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.9171em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">ownership of intellectual property are recognized at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.7502em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0283em;\">a point in time when control is transferred. Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.5833em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">from development services and licences that do not \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.4165em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">transfer the right of ownership to intellectual property \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.2496em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">are recognized over time in line with the execution and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.0827em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.035em;\">delivery of the work. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.5827em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0327em;\">Agreements with commercial partners generally \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.4158em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">include non-refundable upfront license and collabora- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.249em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">tion fees, milestone payments, the receipt of which is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.0821em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">dependent upon the achievement of certain clinical, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.9152em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">regulatory or commercial milestones, as well as royal- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.7483em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">ties on product sales of licensed products, if and when \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.5815em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">such product sales occur, and revenue from the supply \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.4146em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">of products. For these agreements that include multiple \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.2477em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">elements, total contract consideration is attributed to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.0808em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">separately identifiable components on a reliable basis \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.914em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">that reasonably reflects the selling prices that might be \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.7471em;\"><span class=\"stl_532 stl_08 stl_89\" style=\"word-spacing:-0.0358em;\">expected to be achieved in stand-alone transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.5802em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">provided that each component has value to the partner \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.4133em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">on a stand-alone basis. The allocated consideration is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.2465em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">recognized as revenue in accordance with the principles \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.0796em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">described above. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2134": {
   "value": "<div class=\"stl_01\" style=\"left:55.7483em;top:16.9028em;\"><span class=\"stl_600 stl_496 stl_174\" style=\"word-spacing:-0.0324em;\">US Medicaid &amp; Medicare rebates \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.7428em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">Medicaid &amp; Medicare are government insurance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.5759em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">programmes. Medicaid and Medicare rebates have \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.409em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">been estimated using a combination of historical expe- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.2422em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">rience, product and population growth, price increases, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.0753em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0347em;\">and the impact of contracting strategies. The calcula- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.9084em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0261em;\">tion also involves interpretation of relevant regulations \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.7415em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">that are subject to changes in interpretative guidance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.5747em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">from government authorities. Bavarian Nordic adjusts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.4078em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">the provision periodically to reflect actual sales perfor- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.2409em;\"><span class=\"stl_532 stl_08 stl_39\">mance. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.579em;\"><span class=\"stl_600 stl_496 stl_193\" style=\"word-spacing:-0.0351em;\">Other discounts and sales returns \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.419em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">Other discounts are provided to wholesalers, hospi- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.2521em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">tals, pharmacies, etc. They are usually linked to sales \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.0852em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">volume or provided as cash discounts. Accruals are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.9183em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">calculated based on historical data and recorded as a \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.7515em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">reduction in gross sales at the time the related sales \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.5846em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">are recorded. Sales returns are related to damaged or \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.4177em;\"><span class=\"stl_532 stl_08 stl_204\" style=\"word-spacing:-0.037em;\">expired products. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscountsAndRebatesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2131": {
   "value": "<div class=\"stl_01\" style=\"left:55.7483em;top:26.9009em;\"><span class=\"stl_600 stl_496 stl_440\" style=\"word-spacing:-0.0387em;\">Wholesaler charge-backs \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.7409em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">Wholesaler charge-backs relate to contractual arrange- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:28.574em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0347em;\">ments between Bavarian Nordic and indirect customers \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:29.4072em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">whereby products are sold at contract prices lower \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:30.2403em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">than the list price originally charged to wholesalers. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.0734em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">A wholesaler charge-back represents the difference \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.9065em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">between the invoice price to the wholesaler and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.7397em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">indirect customer\u2019s contract price. Accruals are calcu- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:33.5728em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">lated for estimated charge-backs using a combination \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:34.4059em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">of factors such as historical experience, current whole- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:35.239em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">saler inventory levels, contract terms and the value of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.0722em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0253em;\">claims received but not yet processed. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2133em;\"><span class=\"stl_585 stl_15 stl_159\" style=\"word-spacing:-0.0343em;\">Accounting for contract with Biomedical Advanced \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.0464em;\"><span class=\"stl_585 stl_15 stl_192\" style=\"word-spacing:-0.0327em;\">Research and Development Authority (BARDA) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">When drug substance batches are invoiced to BARDA \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">the batches remain in the Company's physical posses- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5514em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">sion until filling as final product. The filling takes place \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3845em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">either at the Company's facility in Kvistgaard or at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.2177em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0262em;\">CMO's (a bill-and-hold arrangement). Revenue is recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0508em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0273em;\">nized once the BDS are releasable according to contract \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8839em;\"><span class=\"stl_532 stl_08 stl_441\" style=\"word-spacing:-0.0377em;\">with BARDA. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5508em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">Payment is due within 30 days after invoicing. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_24\" style=\"word-spacing:0em;\">Note 29 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_101\" style=\"word-spacing:0.0129em;\">Prepayment from customers \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">Prepayments are recognized under liabilities and will \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">be recognized in the income statement as the delivery \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">of paid products takes place. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1411em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:15.1354em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:15.1354em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8254em;\"><span class=\"stl_277 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">Prepayment from customers as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:16.8254em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.57em;top:16.8254em;\"><span class=\"stl_277 stl_08 stl_171\">16,904 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8473em;\"><span class=\"stl_277 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">Recognized as revenue during the year \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:17.8473em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.3857em;top:17.8473em;\"><span class=\"stl_277 stl_08 stl_09\">(16,904) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.8636em;\"><span class=\"stl_191 stl_15 stl_61\" style=\"word-spacing:-0.0308em;\">Prepayment from customers as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3757em;top:18.8636em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.155em;top:18.8636em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:21.6598em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">The recognition of revenue is described in note 3. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2146": {
   "value": "<div class=\"stl_01\" style=\"left:40.3324em;top:10.5216em;\"><span class=\"stl_517 stl_15 stl_217\" style=\"word-spacing:-0.0239em;\">Key accounting estimates \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.5628em;\"><span class=\"stl_585 stl_15 stl_278\" style=\"word-spacing:-0.0359em;\">Provisions for sales deductions \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.4016em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Sales discounts and rebates are predominantly issued \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.2347em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">in the US in connection with the US Federal and State \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.0678em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">Government Healthcare programs, namely Medicare \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.9009em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">and Medicaid, and commercial rebates. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.5678em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">The estimate of sales discounts and rebates is based on \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.4009em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">a calculation which includes a combination of historical \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.2341em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">utilization data, combined with expectations in relation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.0672em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">to the development in sales and utilization. Further- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.9003em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">more, specific circumstances regarding the different \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.7334em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">programs are considered. The obligations concerning \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.5666em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">sales discounts and rebates are incurred at the time the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.3997em;\"><span class=\"stl_532 stl_08 stl_87\" style=\"word-spacing:-0.0249em;\">sale is recorded. However, the actual discount or rebate \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.2328em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0223em;\">related to a specific sale may be invoiced later. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.8997em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">Bavarian Nordic considers the provisions established \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.7328em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">for sales discounts and rebates to be reasonable and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.5659em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">appropriate based on currently available information. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.3991em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">However, the actual amount of discounts and rebates \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.2322em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">may differ from the amounts estimated as more \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.0653em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">detailed information becomes available. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2152": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.9583em;\"><span class=\"stl_191 stl_15 stl_39\" style=\"word-spacing:-0.0232em;\">Travel health \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_377\">Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:30.165em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_605\">1,161,162 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.27em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_134\">879,341 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_34\">Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:30.495em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_167\">416,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2157em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_333\">298,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_35\">Vivotif \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4763em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_161\">118,885 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1625em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_58\">Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7782em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_482\">23,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1625em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_440\" style=\"word-spacing:-0.0388em;\">Other product sale \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4694em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_387\">156,533 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.595em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_123\">78,414 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7782em;top:18.0895em;\"><span class=\"stl_191 stl_15 stl_128\" style=\"word-spacing:1.2279em;\">1,877,072 1,256,491 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.7083em;\"><span class=\"stl_191 stl_15 stl_193\" style=\"word-spacing:-0.035em;\">Public preparedness \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.7358em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">Mpox/smallpox vaccine sale \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0375em;top:20.7358em;\"><span class=\"stl_277 stl_08 stl_502\">5,027,001 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7538em;top:20.7358em;\"><span class=\"stl_277 stl_08 stl_188\">1,730,472 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.752em;\"><span class=\"stl_191 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">Sale of goods \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7257em;top:21.752em;\"><span class=\"stl_191 stl_15 stl_260\" style=\"word-spacing:1.1941em;\">6,904,073 2,986,963 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.3764em;\"><span class=\"stl_277 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">Milestone payments \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:23.3764em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.55em;top:23.3764em;\"><span class=\"stl_277 stl_08 stl_320\">83,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.3983em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">Contract work \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4644em;top:24.3983em;\"><span class=\"stl_277 stl_08 stl_244\">158,267 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5782em;top:24.3983em;\"><span class=\"stl_277 stl_08 stl_224\">80,782 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.4145em;\"><span class=\"stl_191 stl_15 stl_468\" style=\"word-spacing:-0.0389em;\">Sale of services \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3038em;top:25.4145em;\"><span class=\"stl_191 stl_15 stl_432\">158,267 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0819em;top:25.4145em;\"><span class=\"stl_191 stl_15 stl_399\">163,830 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.0333em;\"><span class=\"stl_191 stl_15 stl_35\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7688em;top:27.0333em;\"><span class=\"stl_191 stl_15 stl_132\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.6225em;top:27.0333em;\"><span class=\"stl_191 stl_15 stl_607\">3,150,793 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.652em;\"><span class=\"stl_191 stl_15 stl_42\" style=\"word-spacing:-0.0278em;\">Total revenue includes: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.6795em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">Fair value adjustment concerning financial instruments entered into to hedge revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1538em;top:29.6795em;\"><span class=\"stl_277 stl_08 stl_323\">5,016 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1632em;top:29.6795em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.9977em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Other product sale consists of the following: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.8308em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:32.8308em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Sale of Dukoral and Ixiaro licensed from Valneva \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.6639em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:33.6639em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">Sale of Heplisav licensed from Dynavax \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9583em;\"><span class=\"stl_191 stl_15 stl_200\" style=\"word-spacing:-0.034em;\">Geographic split of revenue: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_63\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:64.007em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_161\">2,577,081 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2664em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_224\">841,527 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_393\">Canada \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0039em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_291\">1,556,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3095em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_245\">197,283 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_55\">France \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4883em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_102\">740,256 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2958em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_302\">268,186 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_374\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5583em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_554\">714,136 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2377em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_254\">650,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_174\">Spain \u00a0</span></div><div class=\"stl_01\" style=\"left:64.477em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_399\">429,664 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6208em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_392\">11,972 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:18.0952em;\"><span class=\"stl_277 stl_08 stl_177\">Australia \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4989em;top:18.0952em;\"><span class=\"stl_277 stl_08 stl_152\">338,076 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6364em;top:18.0952em;\"><span class=\"stl_277 stl_08 stl_574\">97,655 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:19.117em;\"><span class=\"stl_277 stl_08 stl_43\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5314em;top:19.117em;\"><span class=\"stl_277 stl_08 stl_391\">107,738 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5864em;top:19.117em;\"><span class=\"stl_277 stl_08 stl_171\">70,986 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.1389em;\"><span class=\"stl_277 stl_08 stl_64\">Sweden \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8089em;top:20.1389em;\"><span class=\"stl_277 stl_08 stl_127\">71,966 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8795em;top:20.1389em;\"><span class=\"stl_277 stl_08 stl_87\">2,860 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:21.1608em;\"><span class=\"stl_277 stl_08 stl_393\">Chile \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8639em;top:21.1608em;\"><span class=\"stl_277 stl_08 stl_606\">65,188 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:21.1608em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:22.1827em;\"><span class=\"stl_277 stl_08 stl_384\">Taiwan \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8108em;top:22.1827em;\"><span class=\"stl_277 stl_08 stl_130\">53,796 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:22.1827em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:23.2045em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">United Kingdom \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7927em;top:23.2045em;\"><span class=\"stl_277 stl_08 stl_395\">44,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3152em;top:23.2045em;\"><span class=\"stl_277 stl_08 stl_538\">169,203 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:24.2264em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">Hong Kong \u00a0</span></div><div class=\"stl_01\" style=\"left:64.837em;top:24.2264em;\"><span class=\"stl_277 stl_08 stl_339\">13,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2945em;top:24.2264em;\"><span class=\"stl_277 stl_08 stl_306\">115,599 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.2483em;\"><span class=\"stl_277 stl_08 stl_440\" style=\"word-spacing:-0.0389em;\">Saudi Arabia \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1239em;top:25.2483em;\"><span class=\"stl_277 stl_08 stl_254\">4,839 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2452em;top:25.2483em;\"><span class=\"stl_277 stl_08 stl_326\">100,442 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2702em;\"><span class=\"stl_277 stl_08 stl_204\">Belgium \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3989em;top:26.2702em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.2533em;top:26.2702em;\"><span class=\"stl_277 stl_08 stl_388\">335,399 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.292em;\"><span class=\"stl_277 stl_08 stl_89\" style=\"word-spacing:-0.0359em;\">Other geographic markets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4377em;top:27.292em;\"><span class=\"stl_277 stl_08 stl_214\">344,897 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2714em;top:27.292em;\"><span class=\"stl_277 stl_08 stl_337\">289,473 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.9052em;\"><span class=\"stl_191 stl_15 stl_35\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7852em;top:28.9052em;\"><span class=\"stl_191 stl_15 stl_132\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6389em;top:28.9052em;\"><span class=\"stl_191 stl_15 stl_607\">3,150,793 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2160": {
   "value": "<div class=\"stl_01\" style=\"left:38.7506em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 4 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7506em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_608\" style=\"word-spacing:0.0068em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Production costs consist of costs incurred in gener- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_217\" style=\"word-spacing:-0.0238em;\">ating the revenue for the year. Costs for raw materials, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_142\" style=\"word-spacing:-0.0363em;\">consumables, production staff and a proportion of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">production overheads, including maintenance, amorti- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">zation, depreciation and impairment of intangible and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">tangible assets used in production as well as operation, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2043em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0347em;\">administration and management of the production \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0374em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0347em;\">facility are recognized as production costs. Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8706em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">of acquired product rights are recognized as production \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7037em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">costs. In addition, the costs related to idle capacity and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5368em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">write-down to net realisable value of goods on stock \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3699em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">are recognized. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.6411em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:17.6354em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:17.6354em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.3254em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">Cost of goods sold \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9714em;top:19.3254em;\"><span class=\"stl_277 stl_08 stl_527\">1,608,263 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2077em;top:19.3254em;\"><span class=\"stl_277 stl_08 stl_160\">644,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3473em;\"><span class=\"stl_277 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">Contract costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4714em;top:20.3473em;\"><span class=\"stl_277 stl_08 stl_336\">126,877 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.612em;top:20.3473em;\"><span class=\"stl_277 stl_08 stl_106\">19,889 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:21.3692em;\"><span class=\"stl_277 stl_08 stl_142\" style=\"word-spacing:-0.0365em;\">Other production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5383em;top:21.3692em;\"><span class=\"stl_277 stl_08 stl_597\">426,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3014em;top:21.3692em;\"><span class=\"stl_277 stl_08 stl_279\">512,024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:22.3911em;\"><span class=\"stl_277 stl_08 stl_485\" style=\"word-spacing:-0.0383em;\">Amortization of product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4695em;top:22.3911em;\"><span class=\"stl_277 stl_08 stl_227\">298,029 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2589em;top:22.3911em;\"><span class=\"stl_277 stl_08 stl_187\">272,935 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:23.4073em;\"><span class=\"stl_191 stl_15 stl_248\" style=\"word-spacing:-0.0354em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7852em;top:23.4073em;\"><span class=\"stl_191 stl_15 stl_171\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5895em;top:23.4073em;\"><span class=\"stl_191 stl_15 stl_101\">1,449,531 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:25.7311em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">Other production costs amounted to DKK 426.1 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:26.5642em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">(DKK 512.0 million), of which net write-downs of inven- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:27.3973em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">tory amounted to DKK 40.3 million compared to DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:28.2304em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">35.5 million in 2022. The write-down mainly relates to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.0636em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">Process Performance Qualification (PPQ) batches for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.8967em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">chikungunya. The PPQ batches can be used for future \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:30.7298em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">commercial sale and the write-down will be reversed \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:31.5629em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">at the time of expected approval of the chikungunya \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:32.3961em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0252em;\">vaccine. Write-down of RSV materials (DKK 35.0 million) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:33.2292em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">following the discontinuation of the Phase 3 study is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:34.0623em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">recognized as research and development costs. Devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:34.8954em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">opment in write-downs is further described in note 18. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:36.5623em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">Other production costs for 2023 includes idle capacity at \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:37.3954em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">the production site in Bern, approx. DKK 125 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:25.7286em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">The bulk manufacturing facility was shutdown for a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:26.5617em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">year during 2021/2022 due to the expansion of the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:27.3948em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">facility for future production of Rabipur/RabAvert and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:28.2279em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0267em;\">Encepur. The shutdown resulted in a limited absorption \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:29.0611em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0341em;\">of indirect production costs for the first 3 quarters of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:29.8942em;\"><span class=\"stl_532 stl_08 stl_175\">2022. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:31.5611em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">The product rights to Rabipur/RabAvert and Encepur are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:32.3942em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">amortized over 20 years with an annual amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:33.2273em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0345em;\">of DKK 272.9 million. The product rights for Vivotif and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:34.0604em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.028em;\">Vaxchora are amortized over 10-20 years, starting from \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:34.8936em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">the acquisition date May 15, 2023. The amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:35.7267em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">amounted to DKK 25.1 million in 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 5 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_553\" style=\"word-spacing:0.0071em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">Sales and distribution costs comprise costs incurred for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_46\" style=\"word-spacing:-0.0366em;\">the sale and distribution of products sold during the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">year. This includes costs incurred for sales campaigns, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">training and administration of the sales force and for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">direct distribution, marketing and promotion. Also \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">included are salaries and other costs for the sales, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">distribution and marketing functions, loss allowance for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">expected credit losses, amortization, depreciation and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">other indirect costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 6 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_139\" style=\"word-spacing:0.0134em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0326em;\">Research and development costs include salaries and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">costs directly attributable to the Group\u2019s research and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">development projects, less government grants. Further- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">more, salaries and costs supporting direct research and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">development, including costs of patents, rent, leasing \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">and depreciation attributable to laboratories, and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">external scientific consultancy services, are recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">under research and development costs. No indirect or \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">general overhead costs that are not directly attributable \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">to research and development activities are included in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.5368em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">the disclosure of research and development expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3699em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">recognized in the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0259em;\">Research costs are expensed in the year they occur. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.7037em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Development costs are generally expensed in the year \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.5368em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">they occur. In line with industry custom, capitaliza- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.3699em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">tion of development costs does not begin until it is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2031em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">deemed realistic that the product can be completed \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2031em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">and marketed and it is highly likely that a marketing \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0362em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">authorization will be received. In addition, there must \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8693em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">be sufficient certainty that the future earnings to the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7024em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">Group will cover not only production costs, direct distri- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5356em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">bution and administrative costs, but also the develop- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3687em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">ment costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Contract research and development costs incurred to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.8687em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">achieve revenue are included in \"Research and devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.7018em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">opment costs incurred this year\" in the table and then \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.5349em;z-index:1970;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">transferred under \"Contract costs recognized as produ</span><span class=\"stl_532 stl_08 stl_609\">c</span><span class=\"stl_532 stl_08 stl_609\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3681em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">tion costs\" to be recognized as production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">Grants that compensate the Group for research and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">development expenses incurred, which are recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.7012em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">directly in the income statement, are set off against the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5343em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">costs of research and development at the time when a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3674em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">final and binding right to the grant has been obtained. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:10.2738em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:10.2738em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.9638em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0296em;\">Research and development costs incurred this year \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0775em;top:11.9638em;\"><span class=\"stl_277 stl_08 stl_560\">1,797,274 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7657em;top:11.9638em;\"><span class=\"stl_277 stl_08 stl_98\">1,202,981 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5826em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">Of which: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.6045em;\"><span class=\"stl_277 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">Contract costs recognized as production costs (note 4) \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2507em;top:14.6045em;\"><span class=\"stl_277 stl_08 stl_432\">(126,877) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4163em;top:14.6045em;\"><span class=\"stl_277 stl_08 stl_555\">(19,889) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.6263em;\"><span class=\"stl_277 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:30.495em;top:15.6263em;\"><span class=\"stl_277 stl_08 stl_343\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1625em;top:15.6263em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:17.2395em;\"><span class=\"stl_191 stl_15 stl_374\" style=\"word-spacing:-0.0313em;\">Research and development costs recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7175em;top:17.2395em;\"><span class=\"stl_191 stl_15 stl_81\">2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.6069em;top:17.2395em;\"><span class=\"stl_191 stl_15 stl_535\">1,183,092 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:19.2838em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0349em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:20.3113em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:29.9663em;top:20.3113em;\"><span class=\"stl_277 stl_08 stl_611\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1619em;top:20.3113em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:21.3332em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Intangible assets in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7857em;top:21.3332em;\"><span class=\"stl_277 stl_08 stl_24\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1613em;top:21.3332em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:22.3551em;\"><span class=\"stl_277 stl_08 stl_82\">Prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4638em;top:22.3551em;\"><span class=\"stl_277 stl_08 stl_390\">456,551 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1607em;top:22.3551em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:23.377em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2482em;top:23.377em;\"><span class=\"stl_277 stl_08 stl_432\">(806,420) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1607em;top:23.377em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:24.3988em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2944em;top:24.3988em;\"><span class=\"stl_277 stl_08 stl_612\">(521,936) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1607em;top:24.3988em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:25.4151em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0348em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3294em;top:25.4151em;\"><span class=\"stl_191 stl_15 stl_106\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1532em;top:25.4151em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:27.4651em;\"><span class=\"stl_277 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">Fair value adjustment concerning financial instruments entered into \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:28.2982em;\"><span class=\"stl_277 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">to hedge research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3807em;top:28.2982em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.5657em;top:28.2982em;\"><span class=\"stl_277 stl_08 stl_129\">30,201 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:30.5345em;\"><span class=\"stl_585 stl_15 stl_344\" style=\"word-spacing:-0.0347em;\">ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:31.3732em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">Under the Group\u2019s accounting policies development \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:32.2063em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">costs are generally expensed in the year they occur. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:33.0395em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">During the development of ABNCoV2, the Group, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:33.8726em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">however, started capitalizing directly related devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:34.7057em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">opment cost as \u2013 unlike most other development \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:35.5388em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">candidates \u2013 the feasibility of developing a final \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:36.372em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">vaccine and obtain regulatory approval was considered \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:31.372em;\"><span class=\"stl_532 stl_08 stl_252\" style=\"word-spacing:-0.0229em;\">likely, because the development of other COVID-19 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:32.2051em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">vaccine candidates based on the same antigen had \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:33.0382em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">been successful. Furthermore, the Group had ensured \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:33.8713em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">significant finance of the development through the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:34.7045em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0337em;\">funding obtained from Danish Ministry of Health and a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:35.5376em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">minimum demand agreed in the agreement with the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:36.3707em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Danish Ministry of Health. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:10.1631em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">Following the Phase 3 results announced in August \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:10.9962em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">2023, where ABNCoV2 demonstrated a reduced level of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:11.8293em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">neutralizing antibodies against a circulating variant, the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:12.6624em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">asset no longer represented a commercial opportunity \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:13.4956em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">for Bavarian Nordic as the regulators, EMA and FDA, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:14.3287em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0234em;\">could not accept a submission for licensure. Therefore, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:15.1618em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">Management decided to fully write-down all assets \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:15.9949em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">and liabilities related to the development program. The \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:16.8281em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">net write-down amounted to DKK 558 million and was \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:17.6612em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">recognized as an impairment loss and included as part \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:18.4943em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">of the research and development costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:20.1612em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">See note 32 for a summarized income statement and a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:20.9943em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">summarized financial position showing how the write- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:21.8274em;\"><span class=\"stl_532 stl_08 stl_142\" style=\"word-spacing:-0.0365em;\">down has impacted the Annual Report. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:23.4943em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.032em;\">Research and development costs include expenses for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:24.3274em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">external clinical research organizations, or CRO's, of DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:25.1606em;\"><span class=\"stl_532 stl_08 stl_36\" style=\"word-spacing:-0.0226em;\">831.3 million (DKK 874.9 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:26.8274em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">See further description in note 15. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 7 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_137\" style=\"word-spacing:0.0127em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0198em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Administrative costs include costs of Group Manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">ment, staff functions, administrative personnel, office \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">costs, rent, short-term lease payments and depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">not relating specifically to production, research and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">development or sales and distribution. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 8 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_105\" style=\"word-spacing:0.0112em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">Wages and salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:29.9719em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_172\">1,026,464 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.22em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_414\">664,791 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:30.785em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_298\">68,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5669em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_24\">52,635 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_176\" style=\"word-spacing:-0.0376em;\">Social security expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7594em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_270\">52,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5832em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_346\">24,861 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_442\" style=\"word-spacing:-0.0375em;\">Other staff expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7719em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_341\">68,262 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.54em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_270\">48,373 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">Share-based payment, see specification in note 30 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7894em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_128\">55,477 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5857em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_293\">49,284 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7675em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_303\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1019em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_139\">839,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:18.6382em;\"><span class=\"stl_191 stl_15 stl_179\" style=\"word-spacing:-0.0345em;\">Staff expenses are distributed as follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.445em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_389\">545,968 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.245em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_390\">333,547 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_93\" style=\"word-spacing:-0.0355em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4882em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_140\">148,016 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5725em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_127\">89,304 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4469em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_335\">333,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2294em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_326\">198,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:22.7313em;\"><span class=\"stl_277 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4538em;top:22.7313em;\"><span class=\"stl_277 stl_08 stl_365\">209,564 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.23em;top:22.7313em;\"><span class=\"stl_277 stl_08 stl_325\">168,259 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:23.7532em;\"><span class=\"stl_277 stl_08 stl_344\" style=\"word-spacing:-0.0347em;\">Capitalized salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8019em;top:23.7532em;\"><span class=\"stl_277 stl_08 stl_337\">33,798 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5907em;top:23.7532em;\"><span class=\"stl_277 stl_08 stl_155\">49,996 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:24.7694em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7663em;top:24.7694em;\"><span class=\"stl_191 stl_15 stl_303\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1007em;top:24.7694em;\"><span class=\"stl_191 stl_15 stl_139\">839,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:26.4007em;\"><span class=\"stl_277 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Average number of employees converted to full-time \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1257em;top:26.4007em;\"><span class=\"stl_277 stl_08 stl_308\">1,255 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4225em;top:26.4007em;\"><span class=\"stl_277 stl_08 stl_282\">874 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:27.4225em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Number of employees as of December 31 converted to full-time \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1319em;top:27.4225em;\"><span class=\"stl_277 stl_08 stl_101\">1,379 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3888em;top:27.4225em;\"><span class=\"stl_277 stl_08 stl_169\">975 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:29.0319em;\"><span class=\"stl_532 stl_08 stl_36\" style=\"word-spacing:-0.0327em;\">The Group has mainly defined contribution plans and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:29.865em;\"><span class=\"stl_532 stl_08 stl_190\" style=\"word-spacing:-0.0315em;\">pays regular fixed contributions to independent pension \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:30.6982em;\"><span class=\"stl_532 stl_08 stl_217\" style=\"word-spacing:-0.0337em;\">funds and insurance companies. Employees in Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:31.5313em;\"><span class=\"stl_532 stl_08 stl_402\" style=\"word-spacing:-0.0292em;\">Nordic Berna GmbH is covered by a defined benefit plan, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:32.3644em;z-index:963;\"><span class=\"stl_532 stl_08 stl_269\" style=\"word-spacing:-0.0242em;\">see further note 27. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">Staff costs include the following costs: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5288em;\"><span class=\"stl_191 stl_15 stl_221\" style=\"word-spacing:-0.0311em;\">Board of Directors: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5563em;\"><span class=\"stl_277 stl_08 stl_249\">Remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1233em;top:14.5563em;\"><span class=\"stl_277 stl_08 stl_254\">6,345 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.927em;top:14.5563em;\"><span class=\"stl_277 stl_08 stl_150\">5,475 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:15.5782em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1439em;top:15.5782em;\"><span class=\"stl_277 stl_08 stl_337\">2,070 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.937em;top:15.5782em;\"><span class=\"stl_277 stl_08 stl_343\">1,750 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:16.5944em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0343em;\">Remuneration to Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:65.0339em;top:16.5944em;\"><span class=\"stl_191 stl_15 stl_293\">8,415 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8252em;top:16.5944em;\"><span class=\"stl_191 stl_15 stl_451\">7,225 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:18.2201em;\"><span class=\"stl_191 stl_15 stl_179\" style=\"word-spacing:-0.0347em;\">Executive Management: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:19.2476em;\"><span class=\"stl_277 stl_08 stl_471\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.842em;top:19.2476em;\"><span class=\"stl_277 stl_08 stl_284\">11,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9295em;top:19.2476em;\"><span class=\"stl_277 stl_08 stl_116\">9,873 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.2694em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1002em;top:20.2694em;\"><span class=\"stl_277 stl_08 stl_41\">2,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8883em;top:20.2694em;\"><span class=\"stl_277 stl_08 stl_235\">2,068 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6283em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_48\">705 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.4164em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_451\">692 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.3132em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1827em;top:22.3132em;\"><span class=\"stl_277 stl_08 stl_264\">1,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9183em;top:22.3132em;\"><span class=\"stl_277 stl_08 stl_187\">1,367 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.335em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8146em;top:23.335em;\"><span class=\"stl_277 stl_08 stl_224\">13,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5883em;top:23.335em;\"><span class=\"stl_277 stl_08 stl_169\">13,485 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:24.3513em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0348em;\">Corporate Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6839em;top:24.3513em;\"><span class=\"stl_191 stl_15 stl_105\">29,536 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4664em;top:24.3513em;\"><span class=\"stl_191 stl_15 stl_147\">27,485 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:25.9826em;\"><span class=\"stl_277 stl_08 stl_471\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8052em;top:25.9826em;\"><span class=\"stl_277 stl_08 stl_131\">12,622 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6239em;top:25.9826em;\"><span class=\"stl_277 stl_08 stl_593\">11,527 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:27.0044em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1277em;top:27.0044em;\"><span class=\"stl_277 stl_08 stl_324\">2,639 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9202em;top:27.0044em;\"><span class=\"stl_277 stl_08 stl_48\">2,947 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:28.0263em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1558em;top:28.0263em;\"><span class=\"stl_277 stl_08 stl_613\">1,471 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9177em;top:28.0263em;\"><span class=\"stl_277 stl_08 stl_169\">1,362 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:29.0482em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1102em;top:29.0482em;\"><span class=\"stl_277 stl_08 stl_181\">2,228 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9183em;top:29.0482em;\"><span class=\"stl_277 stl_08 stl_228\">1,472 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:30.0701em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8283em;top:30.0701em;\"><span class=\"stl_277 stl_08 stl_121\">11,999 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9139em;top:30.0701em;\"><span class=\"stl_277 stl_08 stl_399\">8,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:31.0919em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">Salary and benefits in notice period \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3977em;top:31.0919em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.9652em;top:31.0919em;\"><span class=\"stl_277 stl_08 stl_614\">7,851 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:32.1082em;\"><span class=\"stl_191 stl_15 stl_442\" style=\"word-spacing:-0.0374em;\">Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6789em;top:32.1082em;\"><span class=\"stl_191 stl_15 stl_224\">30,959 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4833em;top:32.1082em;\"><span class=\"stl_191 stl_15 stl_250\">33,915 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:33.7338em;\"><span class=\"stl_191 stl_15 stl_89\" style=\"word-spacing:-0.0358em;\">Remuneration to Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6539em;top:33.7338em;\"><span class=\"stl_191 stl_15 stl_318\">60,495 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4408em;top:33.7338em;\"><span class=\"stl_191 stl_15 stl_615\">61,400 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:35.3594em;\"><span class=\"stl_191 stl_15 stl_360\" style=\"word-spacing:-0.0329em;\">Total management remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6714em;top:35.3594em;\"><span class=\"stl_191 stl_15 stl_187\">68,910 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4264em;top:35.3594em;\"><span class=\"stl_191 stl_15 stl_272\">68,625 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.1638em;\"><span class=\"stl_532 stl_08 stl_255\" style=\"word-spacing:-0.0313em;\">CEO and President of the Company Paul Chaplin and CFO \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.9969em;\"><span class=\"stl_532 stl_08 stl_36\" style=\"word-spacing:-0.0326em;\">Henrik Juuel constitute the Corporate Management in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8301em;\"><span class=\"stl_532 stl_08 stl_412\" style=\"word-spacing:-0.0229em;\">the Parent Company. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.4969em;\"><span class=\"stl_532 stl_08 stl_212\" style=\"word-spacing:-0.0294em;\">COO Russell Thirsk, CPO Anu Kerns, CCO JC May and CMO \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3301em;\"><span class=\"stl_532 stl_08 stl_235\" style=\"word-spacing:-0.029em;\">Laurence De Moerlooze constitute the Other Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1632em;\"><span class=\"stl_532 stl_08 stl_87\">Management. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8244em;\"><span class=\"stl_585 stl_15 stl_89\" style=\"word-spacing:-0.0359em;\">Restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6632em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">In March 2023 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.4963em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0224em;\">10,927 restricted stock units (excl. matching shares) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3294em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">(12,682 restricted stock units) at a value of DKK 2.5 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.1626em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">million (DKK 2.1 million) at grant. Other Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.9957em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Management was granted 11,502 restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8288em;\"><span class=\"stl_532 stl_08 stl_66\" style=\"word-spacing:-0.018em;\">(excl. matching shares) (9,896 restricted stock units) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.6619em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">corresponding to a value of DKK 2.6 million (DKK 1.6 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.4951em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0265em;\">million) at grant. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.1619em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">In December 2023 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.9951em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">32,028 performance restricted stock units at a value of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8282em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">DKK 5.3 million at grant. Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.6613em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">was granted 29,574 performance restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.4944em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">at a value of DKK 4.9 million at grant. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.1613em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">In March 2023, the members of the Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.9944em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">were granted in total 10,644 restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8276em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">(11,467 restricted stock units) corresponding to 50% of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.6607em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">their fixed fee amounting to DKK 2.1 million (DKK 1.8 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.4938em;\"><span class=\"stl_532 stl_08 stl_257\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.1607em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">For further description of restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.9938em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0234em;\">see note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.1551em;\"><span class=\"stl_585 stl_15 stl_248\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.9938em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">In December 2023 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8269em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">83,921 warrants (126,487 warrants) with a fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.6601em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">of DKK 5.3 million (DKK 9.2 million). Other Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.4932em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">Management was granted 77,491 warrants (122,300 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3263em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">warrants) with a fair value of DKK 4.9 million (DKK 8.9 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.1594em;\"><span class=\"stl_532 stl_08 stl_257\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8263em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">Fair value calculated based on Black-Scholes, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.6594em;\"><span class=\"stl_532 stl_08 stl_72\" style=\"word-spacing:-0.0206em;\">cf. note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3263em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">Incentive programs for the Executive Management and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.1594em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">other employees are disclosed in note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8263em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">Members of the Executive Management have contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.6594em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">of employment containing standard terms for members \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.4926em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">of the Executive Management of Danish listed compa- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.3257em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">nies, including the periods of notice that both parties \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.1588em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">are required to give and competition clauses. If a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.9919em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">contract of employment of a member of the Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.825em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">Management is terminated by the Company without \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.6582em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">misconduct on the part of such member, the member \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.4913em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">of the Executive Management is entitled to compen- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.3244em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">sation, which, depending on the circumstances, may \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.1576em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0263em;\">amount to a maximum of 8-18 months' remuneration. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.9907em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">In the event of a change of control the compensation \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.8238em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">may amount to 24 months' remuneration. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 9 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_308\" style=\"word-spacing:0.008em;\">Depreciation, amortization and impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9032em;\"><span class=\"stl_191 stl_15 stl_485\" style=\"word-spacing:-0.0382em;\">Depreciation and amortization included in: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4883em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_102\">477,544 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2464em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_325\">352,554 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_248\" style=\"word-spacing:-0.0354em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6427em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_354\">181 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.722em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_393\">73 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8664em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_595\">19,631 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9052em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_482\">6,403 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7789em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_259\">56,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6014em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_147\">40,217 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_423\" style=\"word-spacing:-0.0368em;\">Depreciation and amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3339em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_62\">553,821 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1108em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_286\">399,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:18.6438em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0311em;\">Hereof loss from disposed fixed assets \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6195em;top:18.6438em;\"><span class=\"stl_277 stl_08 stl_378\">704 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0058em;top:18.6438em;\"><span class=\"stl_277 stl_08 stl_454\">1,175 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:20.2638em;\"><span class=\"stl_191 stl_15 stl_204\" style=\"word-spacing:-0.038em;\">Impairment losses included in: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5102em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_343\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1777em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:22.3076em;\"><span class=\"stl_191 stl_15 stl_423\" style=\"word-spacing:-0.0367em;\">Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3464em;top:22.3076em;\"><span class=\"stl_191 stl_15 stl_106\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1702em;top:22.3076em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:23.9226em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">The product rights to Rabipur/RabAvert and Encepur are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:24.7557em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">amortized over 20 years with an annual amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:25.5888em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">of DKK 272.9 million. The product rights were acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:26.4219em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0233em;\">from GSK as per December 31, 2019. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:28.0888em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">The product rights for Vivotif and Vaxchora are amor- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:28.9219em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0255em;\">tized over 10-20 years, starting from the acquisition \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:29.755em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">date May 15, 2023. The amortization amounted to DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:55.747em;top:23.9219em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">25.1 million in 2023. The product rights were acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:55.747em;top:24.755em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">from Emergent BioSolution May 15, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.747em;top:26.4219em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0355em;\">Amortization of product rights is recognized as part of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.747em;top:27.255em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">cost of goods sold under production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.747em;top:28.9219em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">See further description in note 15. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_187\" style=\"word-spacing:0.0035em;\">Note 10 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_291\" style=\"word-spacing:0.009em;\">Fees to auditor appointed at the annual general meeting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">Audit of financial statements</span><sup style=\"top: -0.2079em;\"><span class=\"stl_367 stl_08 stl_616\" style=\"word-spacing:-0.0496em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:31.1251em;top:11.909em;\"><span class=\"stl_277 stl_08 stl_99\">3,903 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8782em;top:11.909em;\"><span class=\"stl_277 stl_08 stl_348\">2,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.9309em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">Other assurance services \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5994em;top:12.9309em;\"><span class=\"stl_277 stl_08 stl_384\">268 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4326em;top:12.9309em;\"><span class=\"stl_277 stl_08 stl_285\">176 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.9528em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">Tax advisory \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5838em;top:13.9528em;\"><span class=\"stl_277 stl_08 stl_204\">486 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3869em;top:13.9528em;\"><span class=\"stl_277 stl_08 stl_365\">501 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.9747em;\"><span class=\"stl_277 stl_08 stl_248\" style=\"word-spacing:-0.0355em;\">Other services \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6088em;top:14.9747em;\"><span class=\"stl_277 stl_08 stl_24\">653 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4101em;top:14.9747em;\"><span class=\"stl_277 stl_08 stl_355\">143 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7251em;top:15.9909em;\"><span class=\"stl_191 stl_15 stl_63\">Fees \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0219em;top:15.9909em;\"><span class=\"stl_191 stl_15 stl_101\">5,310 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7969em;top:15.9909em;\"><span class=\"stl_191 stl_15 stl_156\">3,028 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.5169em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:17.4793em;\"><span class=\"stl_74 stl_08 stl_514\" style=\"word-spacing:-0.0457em;\">2023 audit of financial statements includes DKK 0.4 million of additional fee related to 2022 primarily due to expansion of sales activities \u00a0</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:18.0628em;\"><span class=\"stl_74 stl_08 stl_372\" style=\"word-spacing:-0.0459em;\">following the mpox outbreak. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.6069em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">The fee for non-audit services provided to the Group \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.4401em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">by Deloitte Statsautoriseret Revisionspartnerselskab, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2732em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">Denmark, amounted to DKK 0.9 million (DKK 0.3 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.1063em;\"><span class=\"stl_532 stl_08 stl_59\" style=\"word-spacing:-0.0241em;\">million) and consisted of assurance work related to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.9394em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">the assistance with compliance reviews, and other \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7726em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0345em;\">accounting and tax advisory services. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_303\" style=\"word-spacing:0.002em;\">Note 12 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_358\" style=\"word-spacing:0.0075em;\">Financial expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6411em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:17.6354em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:17.6354em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3254em;\"><span class=\"stl_277 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Interest expenses on debt</span><sup style=\"top: -0.2079em;\"><span class=\"stl_367 stl_08 stl_620\" style=\"word-spacing:-0.0504em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:31.1168em;top:19.3257em;\"><span class=\"stl_277 stl_08 stl_24\">3,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5624em;top:19.3257em;\"><span class=\"stl_277 stl_08 stl_342\">16,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:20.3476em;\"><span class=\"stl_277 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">Fair value adjustments on securities \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3831em;top:20.3476em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2449em;top:20.3476em;\"><span class=\"stl_277 stl_08 stl_452\">190,301 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:21.9663em;\"><span class=\"stl_277 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">Unwinding of the discount related to deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5124em;top:21.9663em;\"><span class=\"stl_277 stl_08 stl_590\">101,961 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2593em;top:21.9663em;\"><span class=\"stl_277 stl_08 stl_148\">103,049 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:22.9882em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Currency adjustment deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3824em;top:22.9882em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6099em;top:22.9882em;\"><span class=\"stl_277 stl_08 stl_31\">11,597 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:24.0101em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">Net loss on derivative financial instruments at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3824em;top:24.0101em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6562em;top:24.0101em;\"><span class=\"stl_277 stl_08 stl_12\">17,776 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:25.0319em;\"><span class=\"stl_277 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">Financial expenses, other \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8262em;top:25.0319em;\"><span class=\"stl_277 stl_08 stl_284\">11,469 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1618em;top:25.0319em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:26.6507em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Net foreign exchange losses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8118em;top:26.6507em;\"><span class=\"stl_277 stl_08 stl_123\">15,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1618em;top:26.6507em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:27.6669em;\"><span class=\"stl_191 stl_15 stl_441\" style=\"word-spacing:-0.0379em;\">Financial expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2943em;top:27.6669em;\"><span class=\"stl_191 stl_15 stl_422\">132,380 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0981em;top:27.6669em;\"><span class=\"stl_191 stl_15 stl_100\">339,363 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.1937em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:29.1561em;\"><span class=\"stl_74 stl_08 stl_372\" style=\"word-spacing:-0.0461em;\">Interest expenses on financial liabilities measured at amortized cost \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2161": {
   "value": "<div class=\"stl_01\" style=\"left:38.7506em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 4 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7506em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_608\" style=\"word-spacing:0.0068em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Production costs consist of costs incurred in gener- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_217\" style=\"word-spacing:-0.0238em;\">ating the revenue for the year. Costs for raw materials, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_142\" style=\"word-spacing:-0.0363em;\">consumables, production staff and a proportion of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">production overheads, including maintenance, amorti- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">zation, depreciation and impairment of intangible and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">tangible assets used in production as well as operation, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2043em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0347em;\">administration and management of the production \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0374em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0347em;\">facility are recognized as production costs. Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8706em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">of acquired product rights are recognized as production \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7037em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">costs. In addition, the costs related to idle capacity and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5368em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">write-down to net realisable value of goods on stock \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3699em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">are recognized. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.6411em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:17.6354em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:17.6354em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.3254em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">Cost of goods sold \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9714em;top:19.3254em;\"><span class=\"stl_277 stl_08 stl_527\">1,608,263 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2077em;top:19.3254em;\"><span class=\"stl_277 stl_08 stl_160\">644,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3473em;\"><span class=\"stl_277 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">Contract costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4714em;top:20.3473em;\"><span class=\"stl_277 stl_08 stl_336\">126,877 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.612em;top:20.3473em;\"><span class=\"stl_277 stl_08 stl_106\">19,889 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:21.3692em;\"><span class=\"stl_277 stl_08 stl_142\" style=\"word-spacing:-0.0365em;\">Other production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5383em;top:21.3692em;\"><span class=\"stl_277 stl_08 stl_597\">426,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3014em;top:21.3692em;\"><span class=\"stl_277 stl_08 stl_279\">512,024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:22.3911em;\"><span class=\"stl_277 stl_08 stl_485\" style=\"word-spacing:-0.0383em;\">Amortization of product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4695em;top:22.3911em;\"><span class=\"stl_277 stl_08 stl_227\">298,029 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2589em;top:22.3911em;\"><span class=\"stl_277 stl_08 stl_187\">272,935 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:23.4073em;\"><span class=\"stl_191 stl_15 stl_248\" style=\"word-spacing:-0.0354em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7852em;top:23.4073em;\"><span class=\"stl_191 stl_15 stl_171\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5895em;top:23.4073em;\"><span class=\"stl_191 stl_15 stl_101\">1,449,531 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:25.7311em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">Other production costs amounted to DKK 426.1 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:26.5642em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">(DKK 512.0 million), of which net write-downs of inven- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:27.3973em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">tory amounted to DKK 40.3 million compared to DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:28.2304em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">35.5 million in 2022. The write-down mainly relates to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.0636em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">Process Performance Qualification (PPQ) batches for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.8967em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">chikungunya. The PPQ batches can be used for future \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:30.7298em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">commercial sale and the write-down will be reversed \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:31.5629em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">at the time of expected approval of the chikungunya \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:32.3961em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0252em;\">vaccine. Write-down of RSV materials (DKK 35.0 million) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:33.2292em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">following the discontinuation of the Phase 3 study is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:34.0623em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">recognized as research and development costs. Devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:34.8954em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">opment in write-downs is further described in note 18. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:36.5623em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">Other production costs for 2023 includes idle capacity at \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:37.3954em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">the production site in Bern, approx. DKK 125 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:25.7286em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">The bulk manufacturing facility was shutdown for a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:26.5617em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">year during 2021/2022 due to the expansion of the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:27.3948em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">facility for future production of Rabipur/RabAvert and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:28.2279em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0267em;\">Encepur. The shutdown resulted in a limited absorption \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:29.0611em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0341em;\">of indirect production costs for the first 3 quarters of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:29.8942em;\"><span class=\"stl_532 stl_08 stl_175\">2022. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:31.5611em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">The product rights to Rabipur/RabAvert and Encepur are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:32.3942em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">amortized over 20 years with an annual amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:33.2273em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0345em;\">of DKK 272.9 million. The product rights for Vivotif and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:34.0604em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.028em;\">Vaxchora are amortized over 10-20 years, starting from \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:34.8936em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">the acquisition date May 15, 2023. The amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:35.7267em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">amounted to DKK 25.1 million in 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3311em;top:14.9821em;\"><span class=\"stl_191 stl_15 stl_344\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2523em;top:14.9821em;\"><span class=\"stl_191 stl_15 stl_344\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:23.4661em;top:15.7321em;\"><span class=\"stl_191 stl_15 stl_334\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3873em;top:15.7321em;\"><span class=\"stl_191 stl_15 stl_334\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7611em;top:16.4821em;\"><span class=\"stl_191 stl_15 stl_385\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8073em;top:16.4821em;\"><span class=\"stl_191 stl_15 stl_192\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5523em;top:16.4821em;\"><span class=\"stl_191 stl_15 stl_423\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:17.2377em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:23.063em;top:17.2321em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0236em;top:17.2321em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9836em;top:17.2321em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_36\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8367em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_358\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1961em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.758em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_358\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8461em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_112\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1961em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.7673em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_112\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_41\" style=\"word-spacing:-0.0253em;\">Gross Profit \u00a0</span></div><div class=\"stl_01\" style=\"left:23.5823em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_403\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1886em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.5036em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_403\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_248\" style=\"word-spacing:-0.0354em;\">- Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3367em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_125\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1967em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.258em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_125\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">- Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7805em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_364\">2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.308em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_343\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7667em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_346\">1,670,397 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.718em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">- Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.2667em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_261\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1961em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.188em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_261\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.718em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_82\" style=\"word-spacing:-0.0297em;\">Total operating costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6523em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_97\">3,100,507 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.1442em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_106\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4948em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_411\">2,542,824 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.718em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_221\" style=\"word-spacing:-0.0312em;\">Income before interest and tax (EBIT) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6123em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_298\">1,502,539 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9386em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_714\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4911em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_81\">2,060,222 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_189\">EBITDA \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6067em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_672\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1892em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.528em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_672\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_61\" style=\"word-spacing:-0.0307em;\">Net result for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6836em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_549\">1,475,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9386em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_714\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5136em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_528\">2,032,872 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2162": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Production costs consist of costs incurred in gener- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_217\" style=\"word-spacing:-0.0238em;\">ating the revenue for the year. Costs for raw materials, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_142\" style=\"word-spacing:-0.0363em;\">consumables, production staff and a proportion of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">production overheads, including maintenance, amorti- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">zation, depreciation and impairment of intangible and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">tangible assets used in production as well as operation, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2043em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0347em;\">administration and management of the production \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0374em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0347em;\">facility are recognized as production costs. Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8706em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">of acquired product rights are recognized as production \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7037em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">costs. In addition, the costs related to idle capacity and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5368em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">write-down to net realisable value of goods on stock \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3699em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">are recognized. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">Sales and distribution costs comprise costs incurred for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_46\" style=\"word-spacing:-0.0366em;\">the sale and distribution of products sold during the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">year. This includes costs incurred for sales campaigns, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">training and administration of the sales force and for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">direct distribution, marketing and promotion. Also \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">included are salaries and other costs for the sales, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">distribution and marketing functions, loss allowance for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">expected credit losses, amortization, depreciation and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">other indirect costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0326em;\">Research and development costs include salaries and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">costs directly attributable to the Group\u2019s research and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">development projects, less government grants. Further- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">more, salaries and costs supporting direct research and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">development, including costs of patents, rent, leasing \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">and depreciation attributable to laboratories, and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">external scientific consultancy services, are recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">under research and development costs. No indirect or \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">general overhead costs that are not directly attributable \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">to research and development activities are included in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.5368em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">the disclosure of research and development expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3699em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">recognized in the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0259em;\">Research costs are expensed in the year they occur. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.7037em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Development costs are generally expensed in the year \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.5368em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">they occur. In line with industry custom, capitaliza- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.3699em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">tion of development costs does not begin until it is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2031em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">deemed realistic that the product can be completed \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2031em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">and marketed and it is highly likely that a marketing \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0362em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">authorization will be received. In addition, there must \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8693em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">be sufficient certainty that the future earnings to the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7024em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">Group will cover not only production costs, direct distri- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5356em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">bution and administrative costs, but also the develop- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3687em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">ment costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Contract research and development costs incurred to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.8687em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">achieve revenue are included in \"Research and devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.7018em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">opment costs incurred this year\" in the table and then \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.5349em;z-index:1970;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">transferred under \"Contract costs recognized as produ</span><span class=\"stl_532 stl_08 stl_609\">c</span><span class=\"stl_532 stl_08 stl_609\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3681em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">tion costs\" to be recognized as production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">Grants that compensate the Group for research and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">development expenses incurred, which are recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.7012em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">directly in the income statement, are set off against the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5343em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">costs of research and development at the time when a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3674em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">final and binding right to the grant has been obtained. \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0198em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Administrative costs include costs of Group Manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">ment, staff functions, administrative personnel, office \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">costs, rent, short-term lease payments and depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">not relating specifically to production, research and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">development or sales and distribution. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2181": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 6 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_139\" style=\"word-spacing:0.0134em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0326em;\">Research and development costs include salaries and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">costs directly attributable to the Group\u2019s research and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">development projects, less government grants. Further- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">more, salaries and costs supporting direct research and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">development, including costs of patents, rent, leasing \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">and depreciation attributable to laboratories, and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">external scientific consultancy services, are recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">under research and development costs. No indirect or \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">general overhead costs that are not directly attributable \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">to research and development activities are included in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.5368em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">the disclosure of research and development expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3699em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">recognized in the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0259em;\">Research costs are expensed in the year they occur. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.7037em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Development costs are generally expensed in the year \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.5368em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">they occur. In line with industry custom, capitaliza- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.3699em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">tion of development costs does not begin until it is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2031em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">deemed realistic that the product can be completed \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2031em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">and marketed and it is highly likely that a marketing \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0362em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">authorization will be received. In addition, there must \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8693em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">be sufficient certainty that the future earnings to the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7024em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">Group will cover not only production costs, direct distri- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5356em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">bution and administrative costs, but also the develop- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3687em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">ment costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Contract research and development costs incurred to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.8687em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">achieve revenue are included in \"Research and devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.7018em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">opment costs incurred this year\" in the table and then \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.5349em;z-index:1970;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">transferred under \"Contract costs recognized as produ</span><span class=\"stl_532 stl_08 stl_609\">c</span><span class=\"stl_532 stl_08 stl_609\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3681em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">tion costs\" to be recognized as production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">Grants that compensate the Group for research and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">development expenses incurred, which are recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.7012em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">directly in the income statement, are set off against the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5343em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">costs of research and development at the time when a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3674em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">final and binding right to the grant has been obtained. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:10.2738em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:10.2738em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.9638em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0296em;\">Research and development costs incurred this year \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0775em;top:11.9638em;\"><span class=\"stl_277 stl_08 stl_560\">1,797,274 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7657em;top:11.9638em;\"><span class=\"stl_277 stl_08 stl_98\">1,202,981 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5826em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">Of which: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.6045em;\"><span class=\"stl_277 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">Contract costs recognized as production costs (note 4) \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2507em;top:14.6045em;\"><span class=\"stl_277 stl_08 stl_432\">(126,877) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4163em;top:14.6045em;\"><span class=\"stl_277 stl_08 stl_555\">(19,889) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.6263em;\"><span class=\"stl_277 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:30.495em;top:15.6263em;\"><span class=\"stl_277 stl_08 stl_343\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1625em;top:15.6263em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:17.2395em;\"><span class=\"stl_191 stl_15 stl_374\" style=\"word-spacing:-0.0313em;\">Research and development costs recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7175em;top:17.2395em;\"><span class=\"stl_191 stl_15 stl_81\">2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.6069em;top:17.2395em;\"><span class=\"stl_191 stl_15 stl_535\">1,183,092 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:19.2838em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0349em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:20.3113em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:29.9663em;top:20.3113em;\"><span class=\"stl_277 stl_08 stl_611\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1619em;top:20.3113em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:21.3332em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Intangible assets in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7857em;top:21.3332em;\"><span class=\"stl_277 stl_08 stl_24\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1613em;top:21.3332em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:22.3551em;\"><span class=\"stl_277 stl_08 stl_82\">Prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4638em;top:22.3551em;\"><span class=\"stl_277 stl_08 stl_390\">456,551 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1607em;top:22.3551em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:23.377em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2482em;top:23.377em;\"><span class=\"stl_277 stl_08 stl_432\">(806,420) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1607em;top:23.377em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:24.3988em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2944em;top:24.3988em;\"><span class=\"stl_277 stl_08 stl_612\">(521,936) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1607em;top:24.3988em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:25.4151em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0348em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3294em;top:25.4151em;\"><span class=\"stl_191 stl_15 stl_106\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1532em;top:25.4151em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:27.4651em;\"><span class=\"stl_277 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">Fair value adjustment concerning financial instruments entered into \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:28.2982em;\"><span class=\"stl_277 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">to hedge research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3807em;top:28.2982em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.5657em;top:28.2982em;\"><span class=\"stl_277 stl_08 stl_129\">30,201 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:30.5345em;\"><span class=\"stl_585 stl_15 stl_344\" style=\"word-spacing:-0.0347em;\">ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:31.3732em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">Under the Group\u2019s accounting policies development \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:32.2063em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">costs are generally expensed in the year they occur. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:33.0395em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">During the development of ABNCoV2, the Group, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:33.8726em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">however, started capitalizing directly related devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:34.7057em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">opment cost as \u2013 unlike most other development \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:35.5388em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">candidates \u2013 the feasibility of developing a final \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7213em;top:36.372em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">vaccine and obtain regulatory approval was considered \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:31.372em;\"><span class=\"stl_532 stl_08 stl_252\" style=\"word-spacing:-0.0229em;\">likely, because the development of other COVID-19 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:32.2051em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">vaccine candidates based on the same antigen had \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:33.0382em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">been successful. Furthermore, the Group had ensured \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:33.8713em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">significant finance of the development through the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:34.7045em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0337em;\">funding obtained from Danish Ministry of Health and a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:35.5376em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">minimum demand agreed in the agreement with the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7294em;top:36.3707em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Danish Ministry of Health. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:10.1631em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">Following the Phase 3 results announced in August \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:10.9962em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">2023, where ABNCoV2 demonstrated a reduced level of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:11.8293em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">neutralizing antibodies against a circulating variant, the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:12.6624em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">asset no longer represented a commercial opportunity \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:13.4956em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">for Bavarian Nordic as the regulators, EMA and FDA, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:14.3287em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0234em;\">could not accept a submission for licensure. Therefore, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:15.1618em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">Management decided to fully write-down all assets \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:15.9949em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">and liabilities related to the development program. The \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:16.8281em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">net write-down amounted to DKK 558 million and was \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:17.6612em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">recognized as an impairment loss and included as part \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:18.4943em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">of the research and development costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:20.1612em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">See note 32 for a summarized income statement and a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:20.9943em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">summarized financial position showing how the write- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:21.8274em;\"><span class=\"stl_532 stl_08 stl_142\" style=\"word-spacing:-0.0365em;\">down has impacted the Annual Report. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:23.4943em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.032em;\">Research and development costs include expenses for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:24.3274em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">external clinical research organizations, or CRO's, of DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:25.1606em;\"><span class=\"stl_532 stl_08 stl_36\" style=\"word-spacing:-0.0226em;\">831.3 million (DKK 874.9 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:26.8274em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">See further description in note 15. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.7274em;\"><span class=\"stl_585 stl_15 stl_334\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.5662em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0247em;\">Under the Group\u2019s accounting policies and in accordance \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.3993em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">with common industry practice, development costs are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.2324em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">generally expensed in the year they occur. During the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.0656em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">development of ABNCoV2, the Group has, however, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.8987em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">started capitalization of directly related development \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.7318em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">cost at commencement of the phase 2 and 3 studies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.5649em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">as \u2013 unlike most other development candidates - the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.3981em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">feasibility of developing a final vaccine and obtain \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.2312em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0273em;\">regulatory approval is considered highly likely. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.3981em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">Following the Phase 3 results announced in August, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.2312em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">where ABNCoV2 demonstrated a reduced level of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.0643em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">neutralizing antibodies against a circulating variant, the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.8974em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">asset no longer represented a commercial opportunity \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.7306em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">for Bavarian Nordic as the regulators, EMA and FDA, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.5637em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0234em;\">could not accept a submission for licensure. Therefore, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.3968em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">Management decided to fully write-down all assets \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.2299em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">and liabilities related to the development program. The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.0631em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">impact on the financials for 2023 is shown in note 32. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:10.2087em;\"><span class=\"stl_585 stl_15 stl_334\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.0474em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.8806em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Emergent BioSolutions included acquisition of a late- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.7137em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">stage vaccine candidate for chikungunya virus. The \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:13.5468em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">initial acquisition price amounted to DKK 788 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:14.3799em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">The Company will complete the Phase 3 study and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:15.2131em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">submit for approval. No further cost will be capitalized. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:16.8799em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">The agreement with Emergent BioSolutions also \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.7131em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">included milestone payments totaling USD 80 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:18.5462em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">related to submission and approval of Biologics License \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:19.3793em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">Application (BLA) to FDA and Marketing Authorization \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:20.2124em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">Application to EMA for the chikungunya development \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:21.0456em;\"><span class=\"stl_532 stl_08 stl_58\">asset. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:22.7124em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">At initial recognition the net present value of probable \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:23.5456em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">future development milestone payments to Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:24.3787em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">BioSolutions amounted to DKK 499 million and was \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:25.2118em;\"><span class=\"stl_532 stl_08 stl_84\" style=\"word-spacing:-0.0221em;\">recognized as deferred consideration (note 24). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:26.8731em;\"><span class=\"stl_585 stl_15 stl_159\" style=\"word-spacing:-0.0345em;\">Write-down of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.7118em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">See note 32 for a summarized income statement and a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:28.5449em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">summarized financial position showing how the write- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:29.3781em;\"><span class=\"stl_532 stl_08 stl_142\" style=\"word-spacing:-0.0365em;\">down has impacted the Annual Report. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_224\" style=\"word-spacing:0.0075em;\">Note 32 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_102\" style=\"word-spacing:0.0086em;\">Impact from write-down of ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:10.2189em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">Following the Phase 3 results announced in August, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">where ABNCoV2 demonstrated a reduced level of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">neutralizing antibodies against a circulating variant, the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">asset no longer represented a commercial opportunity \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:10.2183em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">for Bavarian Nordic and therefore Management decided \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:11.0514em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0283em;\">to fully write-down all assets and liabilities related to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:11.8845em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">the development program. \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3311em;top:14.9821em;\"><span class=\"stl_191 stl_15 stl_344\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2523em;top:14.9821em;\"><span class=\"stl_191 stl_15 stl_344\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:23.4661em;top:15.7321em;\"><span class=\"stl_191 stl_15 stl_334\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3873em;top:15.7321em;\"><span class=\"stl_191 stl_15 stl_334\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7611em;top:16.4821em;\"><span class=\"stl_191 stl_15 stl_385\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8073em;top:16.4821em;\"><span class=\"stl_191 stl_15 stl_192\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5523em;top:16.4821em;\"><span class=\"stl_191 stl_15 stl_423\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:17.2377em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:23.063em;top:17.2321em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0236em;top:17.2321em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9836em;top:17.2321em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_36\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8367em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_358\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1961em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.758em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_358\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8461em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_112\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1961em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.7673em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_112\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_41\" style=\"word-spacing:-0.0253em;\">Gross Profit \u00a0</span></div><div class=\"stl_01\" style=\"left:23.5823em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_403\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1886em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.5036em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_403\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_248\" style=\"word-spacing:-0.0354em;\">- Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3367em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_125\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1967em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.258em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_125\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">- Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7805em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_364\">2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.308em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_343\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7667em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_346\">1,670,397 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.718em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">- Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.2667em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_261\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1961em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.188em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_261\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.718em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_82\" style=\"word-spacing:-0.0297em;\">Total operating costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6523em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_97\">3,100,507 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.1442em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_106\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4948em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_411\">2,542,824 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.718em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_221\" style=\"word-spacing:-0.0312em;\">Income before interest and tax (EBIT) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6123em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_298\">1,502,539 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9386em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_714\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4911em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_81\">2,060,222 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_189\">EBITDA \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6067em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_672\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1892em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.528em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_672\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_61\" style=\"word-spacing:-0.0307em;\">Net result for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6836em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_549\">1,475,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9386em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_714\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5136em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_528\">2,032,872 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.9014em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_423\">Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8227em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_423\">Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:58.1127em;top:11.0239em;\"><span class=\"stl_191 stl_15 stl_248\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0339em;top:11.0239em;\"><span class=\"stl_191 stl_15 stl_248\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7814em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_385\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:62.8277em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_192\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5733em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_423\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.5295em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0833em;top:12.5239em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:62.0439em;top:12.5239em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:67.0045em;top:12.5239em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:14.2139em;\"><span class=\"stl_277 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">Intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8364em;top:14.2139em;\"><span class=\"stl_277 stl_08 stl_430\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.8177em;top:14.2139em;\"><span class=\"stl_277 stl_08 stl_608\">1,429,488 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8614em;top:14.2139em;\"><span class=\"stl_277 stl_08 stl_552\">7,911,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:15.2358em;\"><span class=\"stl_277 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">Property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:57.9202em;top:15.2358em;\"><span class=\"stl_277 stl_08 stl_631\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2171em;top:15.2358em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.8414em;top:15.2358em;\"><span class=\"stl_277 stl_08 stl_631\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:16.2577em;\"><span class=\"stl_277 stl_08 stl_178\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:58.4264em;top:16.2577em;\"><span class=\"stl_277 stl_08 stl_317\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2171em;top:16.2577em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.3477em;top:16.2577em;\"><span class=\"stl_277 stl_08 stl_317\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:17.2795em;\"><span class=\"stl_277 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">Financial assets \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7483em;top:17.2795em;\"><span class=\"stl_277 stl_08 stl_671\">15,741 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3395em;top:17.2795em;\"><span class=\"stl_277 stl_08 stl_297\">235,711 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2739em;top:17.2795em;\"><span class=\"stl_277 stl_08 stl_148\">251,452 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:18.2958em;\"><span class=\"stl_191 stl_15 stl_213\" style=\"word-spacing:-0.0328em;\">Total non-current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7033em;top:18.2958em;\"><span class=\"stl_191 stl_15 stl_535\">8,950,162 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6452em;top:18.2958em;\"><span class=\"stl_191 stl_15 stl_292\">1,665,199 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2452em;top:18.2958em;\"><span class=\"stl_191 stl_15 stl_152\">10,615,361 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:19.9202em;\"><span class=\"stl_277 stl_08 stl_41\">Inventories \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8439em;top:19.9202em;\"><span class=\"stl_277 stl_08 stl_446\">1,643,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2171em;top:19.9202em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.7652em;top:19.9202em;\"><span class=\"stl_277 stl_08 stl_599\">1,643,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:20.942em;\"><span class=\"stl_277 stl_08 stl_34\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8446em;top:20.942em;\"><span class=\"stl_277 stl_08 stl_303\">1,891,834 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.2596em;top:20.942em;\"><span class=\"stl_277 stl_08 stl_307\">220,840 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8896em;top:20.942em;\"><span class=\"stl_277 stl_08 stl_634\">2,112,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:21.9639em;\"><span class=\"stl_277 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">Securities, cash and cash equivalents \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8789em;top:21.9639em;\"><span class=\"stl_277 stl_08 stl_589\">1,867,481 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2171em;top:21.9639em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.8002em;top:21.9639em;\"><span class=\"stl_277 stl_08 stl_589\">1,867,481 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:22.9802em;\"><span class=\"stl_191 stl_15 stl_52\" style=\"word-spacing:-0.0264em;\">Total current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6383em;top:22.9802em;\"><span class=\"stl_191 stl_15 stl_117\">5,403,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.1014em;top:22.9802em;\"><span class=\"stl_191 stl_15 stl_268\">220,840 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5496em;top:22.9802em;\"><span class=\"stl_191 stl_15 stl_672\">5,623,891 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:24.5989em;\"><span class=\"stl_191 stl_15 stl_38\" style=\"word-spacing:-0.0244em;\">Total assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.3183em;top:24.5989em;\"><span class=\"stl_191 stl_15 stl_147\">14,353,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5814em;top:24.5989em;\"><span class=\"stl_191 stl_15 stl_366\">1,886,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2308em;top:24.5989em;\"><span class=\"stl_191 stl_15 stl_95\">16,239,252 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:26.2233em;\"><span class=\"stl_277 stl_08 stl_340\">Equity \u00a0</span></div><div class=\"stl_01\" style=\"left:57.5908em;top:26.2233em;\"><span class=\"stl_277 stl_08 stl_558\">10,339,932 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3289em;top:26.2233em;\"><span class=\"stl_277 stl_08 stl_343\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5296em;top:26.2233em;\"><span class=\"stl_277 stl_08 stl_413\">10,897,615 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:27.2452em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8533em;top:27.2452em;\"><span class=\"stl_277 stl_08 stl_373\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3208em;top:27.2452em;\"><span class=\"stl_277 stl_08 stl_155\">521,936 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7389em;top:27.2452em;\"><span class=\"stl_277 stl_08 stl_414\">2,898,925 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:28.267em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">Other non-current liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:58.3095em;top:28.267em;\"><span class=\"stl_277 stl_08 stl_320\">208,556 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.2664em;top:28.267em;\"><span class=\"stl_277 stl_08 stl_572\">806,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8345em;top:28.267em;\"><span class=\"stl_277 stl_08 stl_669\">1,014,976 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:29.2889em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">Other current liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8983em;top:29.2889em;\"><span class=\"stl_277 stl_08 stl_302\">1,427,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2164em;top:29.2889em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.8195em;top:29.2889em;\"><span class=\"stl_277 stl_08 stl_652\">1,427,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:30.3052em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0348em;\">Total equity and liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:57.3177em;top:30.3052em;\"><span class=\"stl_191 stl_15 stl_147\">14,353,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5808em;top:30.3052em;\"><span class=\"stl_191 stl_15 stl_366\">1,886,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2302em;top:30.3052em;\"><span class=\"stl_191 stl_15 stl_95\">16,239,252 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2133em;\"><span class=\"stl_585 stl_15 stl_179\" style=\"word-spacing:-0.0345em;\">Write-down of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">The net write-down of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">amounted to DKK 558 million and consisted of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">following components: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3852em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:14.3783em;\"><span class=\"stl_600 stl_496 stl_46\" style=\"word-spacing:-0.0351em;\">Intangible assets DKK 1,429 million: </span><span class=\"stl_532 stl_08 stl_441\" style=\"word-spacing:-0.0378em;\">Included the \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:15.2183em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">upfront payment to AdaptVac of DKK 33 million, the \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:16.0514em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">net present value of probable future sales/devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:16.8845em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">opment milestones DKK 596 million, capitalized \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:17.7177em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">development costs for running Phase 2 study and \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:18.5508em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">Phase 3 study DKK 774 million and DKK 26 million in \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:19.3839em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">capitalized scale-up activities in Kvistgaard. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0508em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:21.0439em;\"><span class=\"stl_600 stl_496 stl_278\" style=\"word-spacing:-0.0346em;\">Financial assets DKK 236 million: </span><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Incurred cost for \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:21.8839em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">scale-up activities at the CMO for preparation for \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:22.717em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">commercial launch. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.217em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:10.2102em;\"><span class=\"stl_600 stl_496 stl_393\" style=\"word-spacing:-0.0339em;\">Receivables DKK 221 million: </span><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0273em;\">Commercial batches \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:11.0502em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">produced at CMO as part of the process qualification \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:11.8833em;\"><span class=\"stl_532 stl_08 stl_178\">process. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5502em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:13.5433em;\"><span class=\"stl_600 stl_496 stl_344\" style=\"word-spacing:-0.0331em;\">Deferred consideration DKK 522 million: </span><span class=\"stl_532 stl_08 stl_716\" style=\"word-spacing:-0.059em;\">As part \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:14.3833em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">of the ABNCoV2 write-down the previous recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:15.2164em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">nized deferred consideration of DKK 596 million was \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:16.0495em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">reduced to DKK 74 million, reflecting the most likely \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:16.8827em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">milestone scenario. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.5495em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:18.5427em;\"><span class=\"stl_600 stl_496 stl_440\" style=\"word-spacing:-0.0374em;\">Other non-current liabilities DKK 806 million: </span><span class=\"stl_532 stl_08 stl_385\">The \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:19.3827em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">obtained funding from Danish Ministry of Health was \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:20.2158em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">reclassified from an obligation to a grant received. \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:21.0489em;\"><span class=\"stl_532 stl_08 stl_441\" style=\"word-spacing:-0.0379em;\">The amount included DKK 6 million in amortized \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:21.882em;\"><span class=\"stl_532 stl_08 stl_185\">cost. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2178": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">Sales and distribution costs comprise costs incurred for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_46\" style=\"word-spacing:-0.0366em;\">the sale and distribution of products sold during the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">year. This includes costs incurred for sales campaigns, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">training and administration of the sales force and for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">direct distribution, marketing and promotion. Also \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">included are salaries and other costs for the sales, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">distribution and marketing functions, loss allowance for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">expected credit losses, amortization, depreciation and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">other indirect costs. \u00a0</span></div>",
   "dimensions": {
    "concept": "bava:DescriptionOfAccountingPolicyForSalesAndDistributionCosts",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2183": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0326em;\">Research and development costs include salaries and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">costs directly attributable to the Group\u2019s research and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">development projects, less government grants. Further- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">more, salaries and costs supporting direct research and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">development, including costs of patents, rent, leasing \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">and depreciation attributable to laboratories, and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">external scientific consultancy services, are recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">under research and development costs. No indirect or \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">general overhead costs that are not directly attributable \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">to research and development activities are included in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.5368em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">the disclosure of research and development expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3699em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">recognized in the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0259em;\">Research costs are expensed in the year they occur. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.7037em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Development costs are generally expensed in the year \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.5368em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">they occur. In line with industry custom, capitaliza- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.3699em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">tion of development costs does not begin until it is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2031em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">deemed realistic that the product can be completed \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2031em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">and marketed and it is highly likely that a marketing \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0362em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">authorization will be received. In addition, there must \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8693em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">be sufficient certainty that the future earnings to the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7024em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">Group will cover not only production costs, direct distri- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5356em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">bution and administrative costs, but also the develop- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3687em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">ment costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Contract research and development costs incurred to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.8687em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">achieve revenue are included in \"Research and devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.7018em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">opment costs incurred this year\" in the table and then \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.5349em;z-index:1970;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">transferred under \"Contract costs recognized as produ</span><span class=\"stl_532 stl_08 stl_609\">c</span><span class=\"stl_532 stl_08 stl_609\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3681em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">tion costs\" to be recognized as production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">Grants that compensate the Group for research and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">development expenses incurred, which are recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.7012em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">directly in the income statement, are set off against the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5343em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">costs of research and development at the time when a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3674em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">final and binding right to the grant has been obtained. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2208": {
   "value": "<div class=\"stl_01\" style=\"left:55.748em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 7 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_137\" style=\"word-spacing:0.0127em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0198em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Administrative costs include costs of Group Manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">ment, staff functions, administrative personnel, office \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">costs, rent, short-term lease payments and depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">not relating specifically to production, research and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">development or sales and distribution. \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3311em;top:14.9821em;\"><span class=\"stl_191 stl_15 stl_344\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2523em;top:14.9821em;\"><span class=\"stl_191 stl_15 stl_344\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:23.4661em;top:15.7321em;\"><span class=\"stl_191 stl_15 stl_334\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3873em;top:15.7321em;\"><span class=\"stl_191 stl_15 stl_334\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7611em;top:16.4821em;\"><span class=\"stl_191 stl_15 stl_385\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8073em;top:16.4821em;\"><span class=\"stl_191 stl_15 stl_192\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5523em;top:16.4821em;\"><span class=\"stl_191 stl_15 stl_423\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:17.2377em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:23.063em;top:17.2321em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0236em;top:17.2321em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9836em;top:17.2321em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_36\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8367em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_358\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1961em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.758em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_358\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8461em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_112\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1961em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.7673em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_112\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_41\" style=\"word-spacing:-0.0253em;\">Gross Profit \u00a0</span></div><div class=\"stl_01\" style=\"left:23.5823em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_403\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1886em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.5036em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_403\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_248\" style=\"word-spacing:-0.0354em;\">- Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3367em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_125\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1967em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.258em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_125\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">- Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7805em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_364\">2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.308em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_343\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7667em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_346\">1,670,397 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.718em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">- Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.2667em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_261\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1961em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.188em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_261\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.718em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_82\" style=\"word-spacing:-0.0297em;\">Total operating costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6523em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_97\">3,100,507 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.1442em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_106\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4948em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_411\">2,542,824 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.718em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_221\" style=\"word-spacing:-0.0312em;\">Income before interest and tax (EBIT) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6123em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_298\">1,502,539 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9386em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_714\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4911em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_81\">2,060,222 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_189\">EBITDA \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6067em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_672\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1892em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.528em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_672\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_61\" style=\"word-spacing:-0.0307em;\">Net result for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6836em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_549\">1,475,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9386em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_714\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5136em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_528\">2,032,872 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2195": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:10.2738em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:10.2738em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.9638em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0296em;\">Research and development costs incurred this year \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0775em;top:11.9638em;\"><span class=\"stl_277 stl_08 stl_560\">1,797,274 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7657em;top:11.9638em;\"><span class=\"stl_277 stl_08 stl_98\">1,202,981 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5826em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">Of which: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.6045em;\"><span class=\"stl_277 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">Contract costs recognized as production costs (note 4) \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2507em;top:14.6045em;\"><span class=\"stl_277 stl_08 stl_432\">(126,877) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4163em;top:14.6045em;\"><span class=\"stl_277 stl_08 stl_555\">(19,889) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.6263em;\"><span class=\"stl_277 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:30.495em;top:15.6263em;\"><span class=\"stl_277 stl_08 stl_343\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1625em;top:15.6263em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:17.2395em;\"><span class=\"stl_191 stl_15 stl_374\" style=\"word-spacing:-0.0313em;\">Research and development costs recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7175em;top:17.2395em;\"><span class=\"stl_191 stl_15 stl_81\">2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.6069em;top:17.2395em;\"><span class=\"stl_191 stl_15 stl_535\">1,183,092 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:19.2838em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0349em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:20.3113em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:29.9663em;top:20.3113em;\"><span class=\"stl_277 stl_08 stl_611\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1619em;top:20.3113em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:21.3332em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Intangible assets in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7857em;top:21.3332em;\"><span class=\"stl_277 stl_08 stl_24\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1613em;top:21.3332em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:22.3551em;\"><span class=\"stl_277 stl_08 stl_82\">Prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4638em;top:22.3551em;\"><span class=\"stl_277 stl_08 stl_390\">456,551 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1607em;top:22.3551em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:23.377em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2482em;top:23.377em;\"><span class=\"stl_277 stl_08 stl_432\">(806,420) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1607em;top:23.377em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:24.3988em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2944em;top:24.3988em;\"><span class=\"stl_277 stl_08 stl_612\">(521,936) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1607em;top:24.3988em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:25.4151em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0348em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3294em;top:25.4151em;\"><span class=\"stl_191 stl_15 stl_106\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1532em;top:25.4151em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfImpairmentLossAndReversalOfImpairmentLossExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2213": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 8 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_105\" style=\"word-spacing:0.0112em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">Wages and salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:29.9719em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_172\">1,026,464 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.22em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_414\">664,791 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:30.785em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_298\">68,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5669em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_24\">52,635 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_176\" style=\"word-spacing:-0.0376em;\">Social security expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7594em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_270\">52,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5832em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_346\">24,861 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_442\" style=\"word-spacing:-0.0375em;\">Other staff expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7719em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_341\">68,262 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.54em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_270\">48,373 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">Share-based payment, see specification in note 30 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7894em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_128\">55,477 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5857em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_293\">49,284 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7675em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_303\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1019em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_139\">839,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:18.6382em;\"><span class=\"stl_191 stl_15 stl_179\" style=\"word-spacing:-0.0345em;\">Staff expenses are distributed as follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.445em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_389\">545,968 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.245em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_390\">333,547 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_93\" style=\"word-spacing:-0.0355em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4882em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_140\">148,016 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5725em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_127\">89,304 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4469em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_335\">333,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2294em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_326\">198,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:22.7313em;\"><span class=\"stl_277 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4538em;top:22.7313em;\"><span class=\"stl_277 stl_08 stl_365\">209,564 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.23em;top:22.7313em;\"><span class=\"stl_277 stl_08 stl_325\">168,259 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:23.7532em;\"><span class=\"stl_277 stl_08 stl_344\" style=\"word-spacing:-0.0347em;\">Capitalized salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8019em;top:23.7532em;\"><span class=\"stl_277 stl_08 stl_337\">33,798 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5907em;top:23.7532em;\"><span class=\"stl_277 stl_08 stl_155\">49,996 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:24.7694em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7663em;top:24.7694em;\"><span class=\"stl_191 stl_15 stl_303\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1007em;top:24.7694em;\"><span class=\"stl_191 stl_15 stl_139\">839,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:26.4007em;\"><span class=\"stl_277 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Average number of employees converted to full-time \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1257em;top:26.4007em;\"><span class=\"stl_277 stl_08 stl_308\">1,255 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4225em;top:26.4007em;\"><span class=\"stl_277 stl_08 stl_282\">874 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:27.4225em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Number of employees as of December 31 converted to full-time \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1319em;top:27.4225em;\"><span class=\"stl_277 stl_08 stl_101\">1,379 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3888em;top:27.4225em;\"><span class=\"stl_277 stl_08 stl_169\">975 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:29.0319em;\"><span class=\"stl_532 stl_08 stl_36\" style=\"word-spacing:-0.0327em;\">The Group has mainly defined contribution plans and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:29.865em;\"><span class=\"stl_532 stl_08 stl_190\" style=\"word-spacing:-0.0315em;\">pays regular fixed contributions to independent pension \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:30.6982em;\"><span class=\"stl_532 stl_08 stl_217\" style=\"word-spacing:-0.0337em;\">funds and insurance companies. Employees in Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:31.5313em;\"><span class=\"stl_532 stl_08 stl_402\" style=\"word-spacing:-0.0292em;\">Nordic Berna GmbH is covered by a defined benefit plan, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:32.3644em;z-index:963;\"><span class=\"stl_532 stl_08 stl_269\" style=\"word-spacing:-0.0242em;\">see further note 27. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">Staff costs include the following costs: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5288em;\"><span class=\"stl_191 stl_15 stl_221\" style=\"word-spacing:-0.0311em;\">Board of Directors: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5563em;\"><span class=\"stl_277 stl_08 stl_249\">Remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1233em;top:14.5563em;\"><span class=\"stl_277 stl_08 stl_254\">6,345 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.927em;top:14.5563em;\"><span class=\"stl_277 stl_08 stl_150\">5,475 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:15.5782em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1439em;top:15.5782em;\"><span class=\"stl_277 stl_08 stl_337\">2,070 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.937em;top:15.5782em;\"><span class=\"stl_277 stl_08 stl_343\">1,750 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:16.5944em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0343em;\">Remuneration to Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:65.0339em;top:16.5944em;\"><span class=\"stl_191 stl_15 stl_293\">8,415 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8252em;top:16.5944em;\"><span class=\"stl_191 stl_15 stl_451\">7,225 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:18.2201em;\"><span class=\"stl_191 stl_15 stl_179\" style=\"word-spacing:-0.0347em;\">Executive Management: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:19.2476em;\"><span class=\"stl_277 stl_08 stl_471\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.842em;top:19.2476em;\"><span class=\"stl_277 stl_08 stl_284\">11,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9295em;top:19.2476em;\"><span class=\"stl_277 stl_08 stl_116\">9,873 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.2694em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1002em;top:20.2694em;\"><span class=\"stl_277 stl_08 stl_41\">2,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8883em;top:20.2694em;\"><span class=\"stl_277 stl_08 stl_235\">2,068 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6283em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_48\">705 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.4164em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_451\">692 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.3132em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1827em;top:22.3132em;\"><span class=\"stl_277 stl_08 stl_264\">1,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9183em;top:22.3132em;\"><span class=\"stl_277 stl_08 stl_187\">1,367 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.335em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8146em;top:23.335em;\"><span class=\"stl_277 stl_08 stl_224\">13,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5883em;top:23.335em;\"><span class=\"stl_277 stl_08 stl_169\">13,485 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:24.3513em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0348em;\">Corporate Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6839em;top:24.3513em;\"><span class=\"stl_191 stl_15 stl_105\">29,536 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4664em;top:24.3513em;\"><span class=\"stl_191 stl_15 stl_147\">27,485 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:25.9826em;\"><span class=\"stl_277 stl_08 stl_471\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8052em;top:25.9826em;\"><span class=\"stl_277 stl_08 stl_131\">12,622 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6239em;top:25.9826em;\"><span class=\"stl_277 stl_08 stl_593\">11,527 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:27.0044em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1277em;top:27.0044em;\"><span class=\"stl_277 stl_08 stl_324\">2,639 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9202em;top:27.0044em;\"><span class=\"stl_277 stl_08 stl_48\">2,947 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:28.0263em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1558em;top:28.0263em;\"><span class=\"stl_277 stl_08 stl_613\">1,471 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9177em;top:28.0263em;\"><span class=\"stl_277 stl_08 stl_169\">1,362 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:29.0482em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1102em;top:29.0482em;\"><span class=\"stl_277 stl_08 stl_181\">2,228 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9183em;top:29.0482em;\"><span class=\"stl_277 stl_08 stl_228\">1,472 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:30.0701em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8283em;top:30.0701em;\"><span class=\"stl_277 stl_08 stl_121\">11,999 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9139em;top:30.0701em;\"><span class=\"stl_277 stl_08 stl_399\">8,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:31.0919em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">Salary and benefits in notice period \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3977em;top:31.0919em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.9652em;top:31.0919em;\"><span class=\"stl_277 stl_08 stl_614\">7,851 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:32.1082em;\"><span class=\"stl_191 stl_15 stl_442\" style=\"word-spacing:-0.0374em;\">Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6789em;top:32.1082em;\"><span class=\"stl_191 stl_15 stl_224\">30,959 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4833em;top:32.1082em;\"><span class=\"stl_191 stl_15 stl_250\">33,915 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:33.7338em;\"><span class=\"stl_191 stl_15 stl_89\" style=\"word-spacing:-0.0358em;\">Remuneration to Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6539em;top:33.7338em;\"><span class=\"stl_191 stl_15 stl_318\">60,495 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4408em;top:33.7338em;\"><span class=\"stl_191 stl_15 stl_615\">61,400 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:35.3594em;\"><span class=\"stl_191 stl_15 stl_360\" style=\"word-spacing:-0.0329em;\">Total management remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6714em;top:35.3594em;\"><span class=\"stl_191 stl_15 stl_187\">68,910 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4264em;top:35.3594em;\"><span class=\"stl_191 stl_15 stl_272\">68,625 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.1638em;\"><span class=\"stl_532 stl_08 stl_255\" style=\"word-spacing:-0.0313em;\">CEO and President of the Company Paul Chaplin and CFO \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.9969em;\"><span class=\"stl_532 stl_08 stl_36\" style=\"word-spacing:-0.0326em;\">Henrik Juuel constitute the Corporate Management in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8301em;\"><span class=\"stl_532 stl_08 stl_412\" style=\"word-spacing:-0.0229em;\">the Parent Company. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.4969em;\"><span class=\"stl_532 stl_08 stl_212\" style=\"word-spacing:-0.0294em;\">COO Russell Thirsk, CPO Anu Kerns, CCO JC May and CMO \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3301em;\"><span class=\"stl_532 stl_08 stl_235\" style=\"word-spacing:-0.029em;\">Laurence De Moerlooze constitute the Other Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1632em;\"><span class=\"stl_532 stl_08 stl_87\">Management. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8244em;\"><span class=\"stl_585 stl_15 stl_89\" style=\"word-spacing:-0.0359em;\">Restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6632em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">In March 2023 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.4963em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0224em;\">10,927 restricted stock units (excl. matching shares) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3294em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">(12,682 restricted stock units) at a value of DKK 2.5 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.1626em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">million (DKK 2.1 million) at grant. Other Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.9957em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Management was granted 11,502 restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8288em;\"><span class=\"stl_532 stl_08 stl_66\" style=\"word-spacing:-0.018em;\">(excl. matching shares) (9,896 restricted stock units) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.6619em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">corresponding to a value of DKK 2.6 million (DKK 1.6 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.4951em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0265em;\">million) at grant. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.1619em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">In December 2023 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.9951em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">32,028 performance restricted stock units at a value of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8282em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">DKK 5.3 million at grant. Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.6613em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">was granted 29,574 performance restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.4944em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">at a value of DKK 4.9 million at grant. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.1613em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">In March 2023, the members of the Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.9944em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">were granted in total 10,644 restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8276em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">(11,467 restricted stock units) corresponding to 50% of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.6607em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">their fixed fee amounting to DKK 2.1 million (DKK 1.8 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.4938em;\"><span class=\"stl_532 stl_08 stl_257\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.1607em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">For further description of restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.9938em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0234em;\">see note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.1551em;\"><span class=\"stl_585 stl_15 stl_248\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.9938em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">In December 2023 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8269em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">83,921 warrants (126,487 warrants) with a fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.6601em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">of DKK 5.3 million (DKK 9.2 million). Other Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.4932em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">Management was granted 77,491 warrants (122,300 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3263em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">warrants) with a fair value of DKK 4.9 million (DKK 8.9 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.1594em;\"><span class=\"stl_532 stl_08 stl_257\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8263em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">Fair value calculated based on Black-Scholes, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.6594em;\"><span class=\"stl_532 stl_08 stl_72\" style=\"word-spacing:-0.0206em;\">cf. note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3263em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">Incentive programs for the Executive Management and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.1594em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">other employees are disclosed in note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8263em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">Members of the Executive Management have contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.6594em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">of employment containing standard terms for members \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.4926em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">of the Executive Management of Danish listed compa- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.3257em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">nies, including the periods of notice that both parties \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.1588em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">are required to give and competition clauses. If a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.9919em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">contract of employment of a member of the Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.825em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">Management is terminated by the Company without \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.6582em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">misconduct on the part of such member, the member \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.4913em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">of the Executive Management is entitled to compen- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.3244em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">sation, which, depending on the circumstances, may \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.1576em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0263em;\">amount to a maximum of 8-18 months' remuneration. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.9907em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">In the event of a change of control the compensation \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.8238em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">may amount to 24 months' remuneration. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2216": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">Wages and salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:29.9719em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_172\">1,026,464 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.22em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_414\">664,791 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:30.785em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_298\">68,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5669em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_24\">52,635 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_176\" style=\"word-spacing:-0.0376em;\">Social security expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7594em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_270\">52,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5832em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_346\">24,861 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_442\" style=\"word-spacing:-0.0375em;\">Other staff expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7719em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_341\">68,262 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.54em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_270\">48,373 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">Share-based payment, see specification in note 30 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7894em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_128\">55,477 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5857em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_293\">49,284 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7675em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_303\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1019em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_139\">839,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:18.6382em;\"><span class=\"stl_191 stl_15 stl_179\" style=\"word-spacing:-0.0345em;\">Staff expenses are distributed as follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.445em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_389\">545,968 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.245em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_390\">333,547 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_93\" style=\"word-spacing:-0.0355em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4882em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_140\">148,016 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5725em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_127\">89,304 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4469em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_335\">333,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2294em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_326\">198,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:22.7313em;\"><span class=\"stl_277 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4538em;top:22.7313em;\"><span class=\"stl_277 stl_08 stl_365\">209,564 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.23em;top:22.7313em;\"><span class=\"stl_277 stl_08 stl_325\">168,259 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:23.7532em;\"><span class=\"stl_277 stl_08 stl_344\" style=\"word-spacing:-0.0347em;\">Capitalized salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8019em;top:23.7532em;\"><span class=\"stl_277 stl_08 stl_337\">33,798 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5907em;top:23.7532em;\"><span class=\"stl_277 stl_08 stl_155\">49,996 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:24.7694em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7663em;top:24.7694em;\"><span class=\"stl_191 stl_15 stl_303\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1007em;top:24.7694em;\"><span class=\"stl_191 stl_15 stl_139\">839,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:26.4007em;\"><span class=\"stl_277 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Average number of employees converted to full-time \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1257em;top:26.4007em;\"><span class=\"stl_277 stl_08 stl_308\">1,255 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4225em;top:26.4007em;\"><span class=\"stl_277 stl_08 stl_282\">874 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:27.4225em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Number of employees as of December 31 converted to full-time \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1319em;top:27.4225em;\"><span class=\"stl_277 stl_08 stl_101\">1,379 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3888em;top:27.4225em;\"><span class=\"stl_277 stl_08 stl_169\">975 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:29.0319em;\"><span class=\"stl_532 stl_08 stl_36\" style=\"word-spacing:-0.0327em;\">The Group has mainly defined contribution plans and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:29.865em;\"><span class=\"stl_532 stl_08 stl_190\" style=\"word-spacing:-0.0315em;\">pays regular fixed contributions to independent pension \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:30.6982em;\"><span class=\"stl_532 stl_08 stl_217\" style=\"word-spacing:-0.0337em;\">funds and insurance companies. Employees in Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:31.5313em;\"><span class=\"stl_532 stl_08 stl_402\" style=\"word-spacing:-0.0292em;\">Nordic Berna GmbH is covered by a defined benefit plan, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:32.3644em;z-index:963;\"><span class=\"stl_532 stl_08 stl_269\" style=\"word-spacing:-0.0242em;\">see further note 27. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">Staff costs include the following costs: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5288em;\"><span class=\"stl_191 stl_15 stl_221\" style=\"word-spacing:-0.0311em;\">Board of Directors: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5563em;\"><span class=\"stl_277 stl_08 stl_249\">Remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1233em;top:14.5563em;\"><span class=\"stl_277 stl_08 stl_254\">6,345 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.927em;top:14.5563em;\"><span class=\"stl_277 stl_08 stl_150\">5,475 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:15.5782em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1439em;top:15.5782em;\"><span class=\"stl_277 stl_08 stl_337\">2,070 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.937em;top:15.5782em;\"><span class=\"stl_277 stl_08 stl_343\">1,750 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:16.5944em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0343em;\">Remuneration to Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:65.0339em;top:16.5944em;\"><span class=\"stl_191 stl_15 stl_293\">8,415 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8252em;top:16.5944em;\"><span class=\"stl_191 stl_15 stl_451\">7,225 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:18.2201em;\"><span class=\"stl_191 stl_15 stl_179\" style=\"word-spacing:-0.0347em;\">Executive Management: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:19.2476em;\"><span class=\"stl_277 stl_08 stl_471\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.842em;top:19.2476em;\"><span class=\"stl_277 stl_08 stl_284\">11,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9295em;top:19.2476em;\"><span class=\"stl_277 stl_08 stl_116\">9,873 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.2694em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1002em;top:20.2694em;\"><span class=\"stl_277 stl_08 stl_41\">2,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8883em;top:20.2694em;\"><span class=\"stl_277 stl_08 stl_235\">2,068 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6283em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_48\">705 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.4164em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_451\">692 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.3132em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1827em;top:22.3132em;\"><span class=\"stl_277 stl_08 stl_264\">1,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9183em;top:22.3132em;\"><span class=\"stl_277 stl_08 stl_187\">1,367 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.335em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8146em;top:23.335em;\"><span class=\"stl_277 stl_08 stl_224\">13,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5883em;top:23.335em;\"><span class=\"stl_277 stl_08 stl_169\">13,485 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:24.3513em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0348em;\">Corporate Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6839em;top:24.3513em;\"><span class=\"stl_191 stl_15 stl_105\">29,536 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4664em;top:24.3513em;\"><span class=\"stl_191 stl_15 stl_147\">27,485 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:25.9826em;\"><span class=\"stl_277 stl_08 stl_471\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8052em;top:25.9826em;\"><span class=\"stl_277 stl_08 stl_131\">12,622 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6239em;top:25.9826em;\"><span class=\"stl_277 stl_08 stl_593\">11,527 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:27.0044em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1277em;top:27.0044em;\"><span class=\"stl_277 stl_08 stl_324\">2,639 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9202em;top:27.0044em;\"><span class=\"stl_277 stl_08 stl_48\">2,947 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:28.0263em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1558em;top:28.0263em;\"><span class=\"stl_277 stl_08 stl_613\">1,471 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9177em;top:28.0263em;\"><span class=\"stl_277 stl_08 stl_169\">1,362 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:29.0482em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1102em;top:29.0482em;\"><span class=\"stl_277 stl_08 stl_181\">2,228 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9183em;top:29.0482em;\"><span class=\"stl_277 stl_08 stl_228\">1,472 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:30.0701em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8283em;top:30.0701em;\"><span class=\"stl_277 stl_08 stl_121\">11,999 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9139em;top:30.0701em;\"><span class=\"stl_277 stl_08 stl_399\">8,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:31.0919em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">Salary and benefits in notice period \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3977em;top:31.0919em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.9652em;top:31.0919em;\"><span class=\"stl_277 stl_08 stl_614\">7,851 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:32.1082em;\"><span class=\"stl_191 stl_15 stl_442\" style=\"word-spacing:-0.0374em;\">Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6789em;top:32.1082em;\"><span class=\"stl_191 stl_15 stl_224\">30,959 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4833em;top:32.1082em;\"><span class=\"stl_191 stl_15 stl_250\">33,915 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:33.7338em;\"><span class=\"stl_191 stl_15 stl_89\" style=\"word-spacing:-0.0358em;\">Remuneration to Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6539em;top:33.7338em;\"><span class=\"stl_191 stl_15 stl_318\">60,495 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4408em;top:33.7338em;\"><span class=\"stl_191 stl_15 stl_615\">61,400 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:35.3594em;\"><span class=\"stl_191 stl_15 stl_360\" style=\"word-spacing:-0.0329em;\">Total management remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6714em;top:35.3594em;\"><span class=\"stl_191 stl_15 stl_187\">68,910 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4264em;top:35.3594em;\"><span class=\"stl_191 stl_15 stl_272\">68,625 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2217": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">Wages and salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:29.9719em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_172\">1,026,464 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.22em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_414\">664,791 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:30.785em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_298\">68,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5669em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_24\">52,635 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_176\" style=\"word-spacing:-0.0376em;\">Social security expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7594em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_270\">52,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5832em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_346\">24,861 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_442\" style=\"word-spacing:-0.0375em;\">Other staff expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7719em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_341\">68,262 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.54em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_270\">48,373 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">Share-based payment, see specification in note 30 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7894em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_128\">55,477 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5857em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_293\">49,284 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7675em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_303\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1019em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_139\">839,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:18.6382em;\"><span class=\"stl_191 stl_15 stl_179\" style=\"word-spacing:-0.0345em;\">Staff expenses are distributed as follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.445em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_389\">545,968 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.245em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_390\">333,547 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_93\" style=\"word-spacing:-0.0355em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4882em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_140\">148,016 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5725em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_127\">89,304 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4469em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_335\">333,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2294em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_326\">198,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:22.7313em;\"><span class=\"stl_277 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4538em;top:22.7313em;\"><span class=\"stl_277 stl_08 stl_365\">209,564 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.23em;top:22.7313em;\"><span class=\"stl_277 stl_08 stl_325\">168,259 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:23.7532em;\"><span class=\"stl_277 stl_08 stl_344\" style=\"word-spacing:-0.0347em;\">Capitalized salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8019em;top:23.7532em;\"><span class=\"stl_277 stl_08 stl_337\">33,798 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5907em;top:23.7532em;\"><span class=\"stl_277 stl_08 stl_155\">49,996 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:24.7694em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7663em;top:24.7694em;\"><span class=\"stl_191 stl_15 stl_303\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1007em;top:24.7694em;\"><span class=\"stl_191 stl_15 stl_139\">839,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:26.4007em;\"><span class=\"stl_277 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Average number of employees converted to full-time \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1257em;top:26.4007em;\"><span class=\"stl_277 stl_08 stl_308\">1,255 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4225em;top:26.4007em;\"><span class=\"stl_277 stl_08 stl_282\">874 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:27.4225em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Number of employees as of December 31 converted to full-time \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1319em;top:27.4225em;\"><span class=\"stl_277 stl_08 stl_101\">1,379 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3888em;top:27.4225em;\"><span class=\"stl_277 stl_08 stl_169\">975 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:29.0319em;\"><span class=\"stl_532 stl_08 stl_36\" style=\"word-spacing:-0.0327em;\">The Group has mainly defined contribution plans and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:29.865em;\"><span class=\"stl_532 stl_08 stl_190\" style=\"word-spacing:-0.0315em;\">pays regular fixed contributions to independent pension \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:30.6982em;\"><span class=\"stl_532 stl_08 stl_217\" style=\"word-spacing:-0.0337em;\">funds and insurance companies. Employees in Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:31.5313em;\"><span class=\"stl_532 stl_08 stl_402\" style=\"word-spacing:-0.0292em;\">Nordic Berna GmbH is covered by a defined benefit plan, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:32.3644em;z-index:963;\"><span class=\"stl_532 stl_08 stl_269\" style=\"word-spacing:-0.0242em;\">see further note 27. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_324\" style=\"word-spacing:-0.003em;\">Note 27 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_122\" style=\"word-spacing:0.0138em;\">Retirement benefit obligations \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">In defined contribution plans, the Group makes regular \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">payments of fixed contributions to independent \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">pension funds and insurance companies. The Group \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">is under no obligation to pay additional contributions. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Costs for defined contribution plans are recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">the income statement as the Group assumes an obliga- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">tion to make the payment. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">In defined benefit plans, the Group is under an obliga- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">tion to pay a defined benefit on retirement. The actuar- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">ially calculated present value less the fair value of any \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">plan assets is recognised in the balance sheet under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2037em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">retirement benefit obligations. The total service costs \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">of the year plus calculated interest based on actuarial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8699em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">estimates and financial assumptions at the beginning \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7031em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">of the year are recognized in the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5362em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">The difference between the forecast development in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3693em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">plan assets and liabilities and the realized values at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2024em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">the end of the year is called actuarial gains or losses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0356em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">and is recognized in other comprehensive income. In \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8687em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">connection with a change in benefits regarding the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7018em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">employees\u2019 employment with the Group to date, there \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5349em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">will be a change in the actuarial calculation of the net \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3681em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">present value, which is taken directly to the income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2012em;\"><span class=\"stl_532 stl_08 stl_185\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.1956em;\"><span class=\"stl_585 stl_15 stl_142\" style=\"word-spacing:-0.0365em;\">Defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0343em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">The Group offers pension plans to all employees in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8674em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">Denmark and abroad. Most of the pension plans are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7006em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">defined contribution plans, expect for the pension plan \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5337em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">in Bavarian Nordic Berna GmbH, see below. The Group \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3668em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">funds the plans through regular payments of premiums \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.1999em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">to independent insurance companies responsible for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0331em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">the pension obligations towards the beneficiaries. Once \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8662em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">the pension contributions for defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.6993em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">have been made, the Group has no further obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.5324em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">towards current or former employees. Contributions to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3656em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">defined contribution plans are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1987em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">statement when paid. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8599em;\"><span class=\"stl_585 stl_15 stl_142\" style=\"word-spacing:-0.0364em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.6987em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">With the acquisition of the Swiss subsidiary Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5318em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Nordic Berna GmbH, the Group has recognized a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3649em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">defined benefit plan obligation of DKK 81 million. The \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.1981em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">pension plan is part of a collective foundation in which \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.0312em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">other plans of non-related employers also participate, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8643em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">and the different plans all participate in the various \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.6974em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">risks relating to the foundation. The pension scheme in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.5306em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">Bavarian Nordic Switzerland AG is a fully insured plan \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3637em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">and therefore not assessed to be a defined benefit \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.1968em;\"><span class=\"stl_532 stl_08 stl_159\">plan. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.8637em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">Defined benefit liabilities are recognized in the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.6968em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">sheet and in the income statement as indicated below. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2202em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9977em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8202em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_127\">66,935 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1889em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2595em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_330\">1,116 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1895em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.002em;\"><span class=\"stl_191 stl_15 stl_213\" style=\"word-spacing:-0.0328em;\">Cost of pension plans recognized in income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6702em;top:14.002em;\"><span class=\"stl_191 stl_15 stl_366\">68,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1827em;top:14.002em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:15.6264em;\"><span class=\"stl_277 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">Current service cost \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8789em;top:15.6264em;\"><span class=\"stl_277 stl_08 stl_629\">11,817 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1902em;top:15.6264em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:16.6483em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">Past service cost \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6595em;top:16.6483em;\"><span class=\"stl_277 stl_08 stl_276\">(12,023) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1908em;top:16.6483em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.742em;top:17.6702em;\"><span class=\"stl_277 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">Administration expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:65.627em;top:17.6702em;\"><span class=\"stl_277 stl_08 stl_419\">298 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1914em;top:17.6702em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:18.692em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">Net interest expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1877em;top:18.692em;\"><span class=\"stl_277 stl_08 stl_631\">1,024 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1914em;top:18.692em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:19.7083em;\"><span class=\"stl_191 stl_15 stl_213\" style=\"word-spacing:-0.0326em;\">Cost of defined benefit plans recognized in income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1327em;top:19.7083em;\"><span class=\"stl_191 stl_15 stl_686\">1,116 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1839em;top:19.7083em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:21.3327em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Actuarial gains/losses on pension obligations \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6227em;top:21.3327em;\"><span class=\"stl_277 stl_08 stl_286\">(34,324) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1921em;top:21.3327em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:22.3545em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Actuarial gains/losses on plan assets \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2064em;top:22.3545em;\"><span class=\"stl_277 stl_08 stl_379\">1,769 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1921em;top:22.3545em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:23.3708em;\"><span class=\"stl_191 stl_15 stl_193\" style=\"word-spacing:-0.035em;\">Actuarial gains/losses on defined benefit plans recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:24.2039em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0345em;\">other comprehensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4595em;top:24.2039em;\"><span class=\"stl_191 stl_15 stl_373\">(32,555) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1846em;top:24.2039em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:25.8283em;\"><span class=\"stl_277 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">Plan assets as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4127em;top:25.8283em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.1921em;top:25.8283em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:26.8502em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4821em;top:26.8502em;\"><span class=\"stl_277 stl_08 stl_376\">206,938 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1927em;top:26.8502em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7439em;top:27.872em;\"><span class=\"stl_277 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Exchange adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8121em;top:27.872em;\"><span class=\"stl_277 stl_08 stl_342\">10,648 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1927em;top:27.872em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7439em;top:28.8939em;\"><span class=\"stl_277 stl_08 stl_40\" style=\"word-spacing:-0.0249em;\">Actual rate of interest \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1327em;top:28.8939em;\"><span class=\"stl_277 stl_08 stl_333\">4,542 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1927em;top:28.8939em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7439em;top:29.9158em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Actuarial gains/losses on plan assets \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2071em;top:29.9158em;\"><span class=\"stl_277 stl_08 stl_379\">1,769 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1927em;top:29.9158em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7439em;top:30.9377em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">Administration expenses paid \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4296em;top:30.9377em;\"><span class=\"stl_277 stl_08 stl_390\">(298) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1933em;top:30.9377em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7446em;top:31.9595em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Employer contributions \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8402em;top:31.9595em;\"><span class=\"stl_277 stl_08 stl_137\">11,808 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1939em;top:31.9595em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7452em;top:32.9814em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">Employee contributions \u00a0</span></div><div class=\"stl_01\" style=\"left:65.3008em;top:32.9814em;\"><span class=\"stl_277 stl_08 stl_687\">7,117 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1939em;top:32.9814em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7452em;top:34.0033em;\"><span class=\"stl_277 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">Benefit paid out \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6202em;top:34.0033em;\"><span class=\"stl_277 stl_08 stl_308\">(21,500) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1946em;top:34.0033em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7458em;top:35.0195em;\"><span class=\"stl_191 stl_15 stl_182\" style=\"word-spacing:-0.0293em;\">Plan assets as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3514em;top:35.0195em;\"><span class=\"stl_191 stl_15 stl_100\">221,024 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1871em;top:35.0195em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2044em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9819em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.9583em;\"><span class=\"stl_191 stl_15 stl_280\" style=\"word-spacing:-0.0343em;\">Specification of present value of defined benefit obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Present value of defined benefit liability as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3938em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1732em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4744em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_127\">262,925 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1732em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Exchange adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8125em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_156\">13,529 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1732em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Current service costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8619em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_629\">11,817 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1732em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Past service costs</span><sup style=\"top: -0.2067em;\"><span class=\"stl_367 stl_08 stl_487\" style=\"word-spacing:-0.0529em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:30.6423em;top:17.0747em;\"><span class=\"stl_277 stl_08 stl_276\">(12,023) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1736em;top:17.0747em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7248em;top:18.0966em;\"><span class=\"stl_277 stl_08 stl_63\" style=\"word-spacing:-0.0297em;\">Calculated interest on liability \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1098em;top:18.0966em;\"><span class=\"stl_277 stl_08 stl_259\">5,566 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1742em;top:18.0966em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7254em;top:19.1185em;\"><span class=\"stl_277 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Actuarial gains/losses, financial assumptions \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8467em;top:19.1185em;\"><span class=\"stl_277 stl_08 stl_624\">34,186 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1748em;top:19.1185em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7261em;top:20.1403em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">Actuarial gains/losses, demographic assumptions \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4542em;top:20.1403em;\"><span class=\"stl_277 stl_08 stl_570\">(213) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1748em;top:20.1403em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7261em;top:21.1622em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">Actuarial gains/losses, experience \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6261em;top:21.1622em;\"><span class=\"stl_277 stl_08 stl_291\">352 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1754em;top:21.1622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7267em;top:22.1841em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">Employee contributions \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2823em;top:22.1841em;\"><span class=\"stl_277 stl_08 stl_687\">7,117 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1754em;top:22.1841em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7267em;top:23.206em;\"><span class=\"stl_277 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">Benefit paid out \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6017em;top:23.206em;\"><span class=\"stl_277 stl_08 stl_308\">(21,500) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1761em;top:23.206em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7273em;top:24.2222em;\"><span class=\"stl_191 stl_15 stl_386\" style=\"word-spacing:-0.0333em;\">Present value of defined benefit liability as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3348em;top:24.2222em;\"><span class=\"stl_191 stl_15 stl_100\">301,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1686em;top:24.2222em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7273em;top:25.2497em;\"><span class=\"stl_277 stl_08 stl_144\" style=\"word-spacing:-0.0261em;\">Fair value of plan assets as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3054em;top:25.2497em;\"><span class=\"stl_277 stl_08 stl_670\">(221,024) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1761em;top:25.2497em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7273em;top:26.266em;\"><span class=\"stl_191 stl_15 stl_280\" style=\"word-spacing:-0.0342em;\">Net liability of defined benefit plans as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6704em;top:26.266em;\"><span class=\"stl_191 stl_15 stl_169\">80,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1686em;top:26.266em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7273em;top:27.8903em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">Net liability of defined benefit plans as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3967em;top:27.8903em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1761em;top:27.8903em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7273em;top:28.9122em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8142em;top:28.9122em;\"><span class=\"stl_277 stl_08 stl_65\">55,987 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1767em;top:28.9122em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7279em;top:29.9341em;\"><span class=\"stl_277 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">Expenditure for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2473em;top:29.9341em;\"><span class=\"stl_277 stl_08 stl_330\">1,116 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1773em;top:29.9341em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7286em;top:30.956em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Actuarial gains/losses on pension obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7923em;top:30.956em;\"><span class=\"stl_277 stl_08 stl_70\">34,325 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1779em;top:30.956em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7292em;top:31.9778em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">Exchange adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1129em;top:31.9778em;\"><span class=\"stl_277 stl_08 stl_329\">2,881 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1779em;top:31.9778em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7292em;top:32.9997em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Actuarial gains/losses on plan assets \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0129em;top:32.9997em;\"><span class=\"stl_277 stl_08 stl_654\">(1,769) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1786em;top:32.9997em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7298em;top:34.0216em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">Payments received \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6448em;top:34.0216em;\"><span class=\"stl_277 stl_08 stl_652\">(11,808) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1786em;top:34.0216em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7298em;top:35.0378em;\"><span class=\"stl_191 stl_15 stl_280\" style=\"word-spacing:-0.0342em;\">Net liability of defined benefit plans as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6729em;top:35.0378em;\"><span class=\"stl_191 stl_15 stl_169\">80,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1711em;top:35.0378em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.5293em;\"><sup style=\"top: -0.1665em;\"><span class=\"stl_73 stl_08 stl_24\" style=\"word-spacing:0.1974em;\">1 </span></sup><span class=\"stl_74 stl_08 stl_327\" style=\"word-spacing:-0.0416em;\">A reduction in the conversion factors (rate at which the accumulated account balance is converted to an annual pension at retirement) was \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7242em;top:37.1128em;\"><span class=\"stl_74 stl_08 stl_689\" style=\"word-spacing:-0.0462em;\">announced by the Swiss pension provider Servisa in 2023. The impact of this change was calculated as if the change happened as of December 31, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7242em;top:37.6963em;\"><span class=\"stl_74 stl_08 stl_409\" style=\"word-spacing:-0.0458em;\">2023, and led to a reduction of CHF 1.5 million in the defined benefit liability. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9889em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9583em;\"><span class=\"stl_191 stl_15 stl_61\" style=\"word-spacing:-0.0309em;\">Percentage of plan assets invested in asset category \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_340\">Equity \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7433em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_312\">31.0% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_204\">Bonds \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7183em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_303\">28.4% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_80\">Property \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7314em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_101\">16.0% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_193\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7377em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_154\">24.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.6645em;\"><span class=\"stl_191 stl_15 stl_21\" style=\"word-spacing:-0.0322em;\">Actuarial assumptions applied at the balance sheet date (expressed as an average) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.692em;\"><span class=\"stl_277 stl_08 stl_56\" style=\"word-spacing:-0.0262em;\">Discount rate \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7352em;top:18.692em;\"><span class=\"stl_277 stl_08 stl_138\">1.35% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.7139em;\"><span class=\"stl_277 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Future rate of salary increases \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7527em;top:19.7139em;\"><span class=\"stl_277 stl_08 stl_581\">1.75% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.7358em;\"><span class=\"stl_277 stl_08 stl_182\">Inflation \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7227em;top:20.7358em;\"><span class=\"stl_277 stl_08 stl_228\">1.25% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.0539em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">The contributions to the plan for 2024 are expected in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.887em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">the same level as in 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.5539em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">The sensitivity analysis below shows the change in one \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.387em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">of the actuarial assumptions, while other assumptions \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.0539em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0269em;\">are kept constant. In practice, this is unlikely to occur as \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.887em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">changes in some of the assumptions may be correlated. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.5539em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">Percentage increase/decrease in the gross liability \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.387em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">resulting from a change in a single actuarial assumption \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.6582em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3945em;top:28.6526em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.4195em;top:30.3426em;\"><span class=\"stl_277 stl_08 stl_48\" style=\"word-spacing:0.8139em;\">+0.5%-point -0.5%-point \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.3644em;\"><span class=\"stl_277 stl_08 stl_56\" style=\"word-spacing:-0.0262em;\">Discount rate \u00a0</span></div><div class=\"stl_01\" style=\"left:65.0483em;top:31.3644em;\"><span class=\"stl_277 stl_08 stl_333\">-8.2% \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0739em;top:31.3644em;\"><span class=\"stl_277 stl_08 stl_126\">9.2% \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2220": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">Staff costs include the following costs: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5288em;\"><span class=\"stl_191 stl_15 stl_221\" style=\"word-spacing:-0.0311em;\">Board of Directors: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5563em;\"><span class=\"stl_277 stl_08 stl_249\">Remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1233em;top:14.5563em;\"><span class=\"stl_277 stl_08 stl_254\">6,345 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.927em;top:14.5563em;\"><span class=\"stl_277 stl_08 stl_150\">5,475 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:15.5782em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1439em;top:15.5782em;\"><span class=\"stl_277 stl_08 stl_337\">2,070 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.937em;top:15.5782em;\"><span class=\"stl_277 stl_08 stl_343\">1,750 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:16.5944em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0343em;\">Remuneration to Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:65.0339em;top:16.5944em;\"><span class=\"stl_191 stl_15 stl_293\">8,415 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8252em;top:16.5944em;\"><span class=\"stl_191 stl_15 stl_451\">7,225 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:18.2201em;\"><span class=\"stl_191 stl_15 stl_179\" style=\"word-spacing:-0.0347em;\">Executive Management: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:19.2476em;\"><span class=\"stl_277 stl_08 stl_471\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.842em;top:19.2476em;\"><span class=\"stl_277 stl_08 stl_284\">11,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9295em;top:19.2476em;\"><span class=\"stl_277 stl_08 stl_116\">9,873 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.2694em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1002em;top:20.2694em;\"><span class=\"stl_277 stl_08 stl_41\">2,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8883em;top:20.2694em;\"><span class=\"stl_277 stl_08 stl_235\">2,068 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6283em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_48\">705 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.4164em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_451\">692 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.3132em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1827em;top:22.3132em;\"><span class=\"stl_277 stl_08 stl_264\">1,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9183em;top:22.3132em;\"><span class=\"stl_277 stl_08 stl_187\">1,367 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.335em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8146em;top:23.335em;\"><span class=\"stl_277 stl_08 stl_224\">13,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5883em;top:23.335em;\"><span class=\"stl_277 stl_08 stl_169\">13,485 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:24.3513em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0348em;\">Corporate Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6839em;top:24.3513em;\"><span class=\"stl_191 stl_15 stl_105\">29,536 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4664em;top:24.3513em;\"><span class=\"stl_191 stl_15 stl_147\">27,485 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:25.9826em;\"><span class=\"stl_277 stl_08 stl_471\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8052em;top:25.9826em;\"><span class=\"stl_277 stl_08 stl_131\">12,622 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6239em;top:25.9826em;\"><span class=\"stl_277 stl_08 stl_593\">11,527 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:27.0044em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1277em;top:27.0044em;\"><span class=\"stl_277 stl_08 stl_324\">2,639 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9202em;top:27.0044em;\"><span class=\"stl_277 stl_08 stl_48\">2,947 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:28.0263em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1558em;top:28.0263em;\"><span class=\"stl_277 stl_08 stl_613\">1,471 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9177em;top:28.0263em;\"><span class=\"stl_277 stl_08 stl_169\">1,362 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:29.0482em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1102em;top:29.0482em;\"><span class=\"stl_277 stl_08 stl_181\">2,228 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9183em;top:29.0482em;\"><span class=\"stl_277 stl_08 stl_228\">1,472 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:30.0701em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8283em;top:30.0701em;\"><span class=\"stl_277 stl_08 stl_121\">11,999 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9139em;top:30.0701em;\"><span class=\"stl_277 stl_08 stl_399\">8,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:31.0919em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">Salary and benefits in notice period \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3977em;top:31.0919em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.9652em;top:31.0919em;\"><span class=\"stl_277 stl_08 stl_614\">7,851 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:32.1082em;\"><span class=\"stl_191 stl_15 stl_442\" style=\"word-spacing:-0.0374em;\">Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6789em;top:32.1082em;\"><span class=\"stl_191 stl_15 stl_224\">30,959 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4833em;top:32.1082em;\"><span class=\"stl_191 stl_15 stl_250\">33,915 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:33.7338em;\"><span class=\"stl_191 stl_15 stl_89\" style=\"word-spacing:-0.0358em;\">Remuneration to Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6539em;top:33.7338em;\"><span class=\"stl_191 stl_15 stl_318\">60,495 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4408em;top:33.7338em;\"><span class=\"stl_191 stl_15 stl_615\">61,400 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:35.3594em;\"><span class=\"stl_191 stl_15 stl_360\" style=\"word-spacing:-0.0329em;\">Total management remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6714em;top:35.3594em;\"><span class=\"stl_191 stl_15 stl_187\">68,910 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4264em;top:35.3594em;\"><span class=\"stl_191 stl_15 stl_272\">68,625 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.1638em;\"><span class=\"stl_532 stl_08 stl_255\" style=\"word-spacing:-0.0313em;\">CEO and President of the Company Paul Chaplin and CFO \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.9969em;\"><span class=\"stl_532 stl_08 stl_36\" style=\"word-spacing:-0.0326em;\">Henrik Juuel constitute the Corporate Management in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8301em;\"><span class=\"stl_532 stl_08 stl_412\" style=\"word-spacing:-0.0229em;\">the Parent Company. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.4969em;\"><span class=\"stl_532 stl_08 stl_212\" style=\"word-spacing:-0.0294em;\">COO Russell Thirsk, CPO Anu Kerns, CCO JC May and CMO \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3301em;\"><span class=\"stl_532 stl_08 stl_235\" style=\"word-spacing:-0.029em;\">Laurence De Moerlooze constitute the Other Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1632em;\"><span class=\"stl_532 stl_08 stl_87\">Management. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8244em;\"><span class=\"stl_585 stl_15 stl_89\" style=\"word-spacing:-0.0359em;\">Restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6632em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">In March 2023 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.4963em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0224em;\">10,927 restricted stock units (excl. matching shares) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3294em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">(12,682 restricted stock units) at a value of DKK 2.5 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.1626em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">million (DKK 2.1 million) at grant. Other Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.9957em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Management was granted 11,502 restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8288em;\"><span class=\"stl_532 stl_08 stl_66\" style=\"word-spacing:-0.018em;\">(excl. matching shares) (9,896 restricted stock units) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.6619em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">corresponding to a value of DKK 2.6 million (DKK 1.6 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.4951em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0265em;\">million) at grant. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.1619em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">In December 2023 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.9951em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">32,028 performance restricted stock units at a value of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8282em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">DKK 5.3 million at grant. Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.6613em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">was granted 29,574 performance restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.4944em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">at a value of DKK 4.9 million at grant. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.1613em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">In March 2023, the members of the Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.9944em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">were granted in total 10,644 restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8276em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">(11,467 restricted stock units) corresponding to 50% of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.6607em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">their fixed fee amounting to DKK 2.1 million (DKK 1.8 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.4938em;\"><span class=\"stl_532 stl_08 stl_257\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.1607em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">For further description of restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.9938em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0234em;\">see note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.1551em;\"><span class=\"stl_585 stl_15 stl_248\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.9938em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">In December 2023 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8269em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">83,921 warrants (126,487 warrants) with a fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.6601em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">of DKK 5.3 million (DKK 9.2 million). Other Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.4932em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">Management was granted 77,491 warrants (122,300 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3263em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">warrants) with a fair value of DKK 4.9 million (DKK 8.9 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.1594em;\"><span class=\"stl_532 stl_08 stl_257\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8263em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">Fair value calculated based on Black-Scholes, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.6594em;\"><span class=\"stl_532 stl_08 stl_72\" style=\"word-spacing:-0.0206em;\">cf. note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3263em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">Incentive programs for the Executive Management and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.1594em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">other employees are disclosed in note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8263em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">Members of the Executive Management have contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.6594em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">of employment containing standard terms for members \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.4926em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">of the Executive Management of Danish listed compa- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.3257em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">nies, including the periods of notice that both parties \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.1588em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">are required to give and competition clauses. If a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.9919em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">contract of employment of a member of the Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.825em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">Management is terminated by the Company without \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.6582em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">misconduct on the part of such member, the member \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.4913em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">of the Executive Management is entitled to compen- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.3244em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">sation, which, depending on the circumstances, may \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.1576em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0263em;\">amount to a maximum of 8-18 months' remuneration. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.9907em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">In the event of a change of control the compensation \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.8238em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">may amount to 24 months' remuneration. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2230": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Note 9 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_308\" style=\"word-spacing:0.008em;\">Depreciation, amortization and impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9032em;\"><span class=\"stl_191 stl_15 stl_485\" style=\"word-spacing:-0.0382em;\">Depreciation and amortization included in: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4883em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_102\">477,544 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2464em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_325\">352,554 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_248\" style=\"word-spacing:-0.0354em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6427em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_354\">181 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.722em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_393\">73 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8664em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_595\">19,631 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9052em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_482\">6,403 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7789em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_259\">56,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6014em;top:15.9963em;\"><span class=\"stl_277 stl_08 stl_147\">40,217 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_423\" style=\"word-spacing:-0.0368em;\">Depreciation and amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3339em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_62\">553,821 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1108em;top:17.0125em;\"><span class=\"stl_191 stl_15 stl_286\">399,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:18.6438em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0311em;\">Hereof loss from disposed fixed assets \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6195em;top:18.6438em;\"><span class=\"stl_277 stl_08 stl_378\">704 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0058em;top:18.6438em;\"><span class=\"stl_277 stl_08 stl_454\">1,175 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:20.2638em;\"><span class=\"stl_191 stl_15 stl_204\" style=\"word-spacing:-0.038em;\">Impairment losses included in: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5102em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_343\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1777em;top:21.2913em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:22.3076em;\"><span class=\"stl_191 stl_15 stl_423\" style=\"word-spacing:-0.0367em;\">Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3464em;top:22.3076em;\"><span class=\"stl_191 stl_15 stl_106\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1702em;top:22.3076em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:23.9226em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">The product rights to Rabipur/RabAvert and Encepur are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:24.7557em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">amortized over 20 years with an annual amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:25.5888em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">of DKK 272.9 million. The product rights were acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:26.4219em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0233em;\">from GSK as per December 31, 2019. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:28.0888em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">The product rights for Vivotif and Vaxchora are amor- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:28.9219em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0255em;\">tized over 10-20 years, starting from the acquisition \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:29.755em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">date May 15, 2023. The amortization amounted to DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:55.747em;top:23.9219em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">25.1 million in 2023. The product rights were acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:55.747em;top:24.755em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">from Emergent BioSolution May 15, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.747em;top:26.4219em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0355em;\">Amortization of product rights is recognized as part of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.747em;top:27.255em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">cost of goods sold under production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.747em;top:28.9219em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">See further description in note 15. \u00a0</span></div><div class=\"stl_01\" style=\"left:41.345em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.6694em;top:11.4182em;\"><span class=\"stl_191 stl_15 stl_18\">Acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:47.0531em;top:11.4182em;\"><span class=\"stl_191 stl_15 stl_19\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:36.2744em;top:12.1682em;\"><span class=\"stl_191 stl_15 stl_385\" style=\"word-spacing:-0.04em;\">rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6713em;top:12.1682em;\"><span class=\"stl_191 stl_15 stl_443\">intangible \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2694em;top:12.9182em;\"><span class=\"stl_191 stl_15 stl_280\" style=\"word-spacing:1.0869em;\">Product development \u00a0</span></div><div class=\"stl_01\" style=\"left:46.1388em;top:12.9182em;\"><span class=\"stl_191 stl_15 stl_200\" style=\"word-spacing:-0.034em;\">assets in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.6738em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:32.8013em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_340\">rights \u00a0</span></div><div class=\"stl_01\" style=\"left:36.0106em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_34\" style=\"word-spacing:-0.029em;\">in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:41.32em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_441\">Software \u00a0</span></div><div class=\"stl_01\" style=\"left:46.1775em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_55\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9781em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_59\" style=\"word-spacing:-0.024em;\">Costs as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8569em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_611\">5,458,700 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.6025em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_95\">1,013,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.79em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_324\">106,094 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5488em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_138\">274,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.76em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_303\">6,852,768 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_221\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2719em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:37.1175em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_315\">389,751 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4644em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_224\">3,034 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5556em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_151\">143,978 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2444em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_511\">536,758 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_72\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2719em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9963em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.4519em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_422\">2,353 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.985em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_100\">(2,353) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1694em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3519em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_187\">449,577 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.575em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_430\">1,286,778 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4513em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_227\">4,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2125em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_628\">1,212 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8425em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_641\">1,741,779 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2719em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9963em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.2531em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_224\">(1,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.445em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.7019em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_224\">(1,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:20.4675em;\"><span class=\"stl_277 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2719em;top:20.4675em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9963em;top:20.4675em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.9475em;top:20.4675em;\"><span class=\"stl_277 stl_08 stl_169\">497 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.1606em;top:20.4675em;\"><span class=\"stl_277 stl_08 stl_642\">(1) \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3888em;top:20.4675em;\"><span class=\"stl_277 stl_08 stl_429\">496 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:21.4838em;\"><span class=\"stl_191 stl_15 stl_268\" style=\"word-spacing:-0.016em;\">Cost as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6163em;top:21.4838em;\"><span class=\"stl_191 stl_15 stl_403\">5,908,277 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3863em;top:21.4838em;\"><span class=\"stl_191 stl_15 stl_390\">2,690,013 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.675em;top:21.4838em;\"><span class=\"stl_191 stl_15 stl_275\">114,958 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4413em;top:21.4838em;\"><span class=\"stl_191 stl_15 stl_643\">417,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6688em;top:21.4838em;\"><span class=\"stl_191 stl_15 stl_579\">9,130,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">Amortization and impairment losses as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3444em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_422\">818,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9969em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.1525em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_154\">91,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4456em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.3469em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_645\">910,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_340\">Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3388em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_342\">298,030 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9969em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.1488em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_138\">12,028 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4463em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2706em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_152\">310,058 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2731em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.5813em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_611\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.7219em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:46.85em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_24\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7706em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_608\">1,429,488 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.1807em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2725em;top:26.1807em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9969em;top:26.1807em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.4125em;top:26.1807em;\"><span class=\"stl_277 stl_08 stl_646\">(1,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4456em;top:26.1807em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.8613em;top:26.1807em;\"><span class=\"stl_277 stl_08 stl_646\">(1,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.2025em;\"><span class=\"stl_277 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2725em;top:27.2025em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9969em;top:27.2025em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.9363em;top:27.2025em;\"><span class=\"stl_277 stl_08 stl_268\">272 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4463em;top:27.2025em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.3856em;top:27.2025em;\"><span class=\"stl_277 stl_08 stl_268\">272 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.2188em;\"><span class=\"stl_191 stl_15 stl_63\" style=\"word-spacing:-0.0301em;\">Amortization and impairment losses as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.7425em;top:28.2188em;\"><span class=\"stl_191 stl_15 stl_647\">1,116,835 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3644em;top:28.2188em;\"><span class=\"stl_191 stl_15 stl_455\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.67em;top:28.2188em;\"><span class=\"stl_191 stl_15 stl_154\">102,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6963em;top:28.2188em;\"><span class=\"stl_191 stl_15 stl_233\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.4913em;top:28.2188em;\"><span class=\"stl_191 stl_15 stl_160\">2,648,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.8444em;\"><span class=\"stl_191 stl_15 stl_33\" style=\"word-spacing:-0.0274em;\">Carrying amount as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6475em;top:29.8444em;\"><span class=\"stl_191 stl_15 stl_422\">4,791,442 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.4119em;top:29.8444em;\"><span class=\"stl_191 stl_15 stl_152\">1,286,749 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9719em;top:29.8444em;\"><span class=\"stl_191 stl_15 stl_233\">12,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4463em;top:29.8444em;\"><span class=\"stl_191 stl_15 stl_294\">391,102 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5331em;top:29.8444em;\"><span class=\"stl_191 stl_15 stl_573\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.47em;\"><span class=\"stl_191 stl_15 stl_360\" style=\"word-spacing:-0.033em;\">Geographical split of intangible assets \u2013 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.4975em;\"><span class=\"stl_277 stl_08 stl_215\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8413em;top:32.4975em;\"><span class=\"stl_277 stl_08 stl_625\">6,475,179 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5194em;\"><span class=\"stl_277 stl_08 stl_374\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:52.4056em;top:33.5194em;\"><span class=\"stl_277 stl_08 stl_155\">270 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.5413em;\"><span class=\"stl_277 stl_08 stl_63\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:51.89em;top:34.5413em;\"><span class=\"stl_277 stl_08 stl_333\">2,005 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.5632em;\"><span class=\"stl_277 stl_08 stl_43\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8981em;top:35.5632em;\"><span class=\"stl_277 stl_08 stl_420\">4,282 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.5794em;\"><span class=\"stl_191 stl_15 stl_192\" style=\"word-spacing:-0.0327em;\">Total intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5331em;top:36.5794em;\"><span class=\"stl_191 stl_15 stl_573\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.344em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.6696em;top:11.4182em;\"><span class=\"stl_191 stl_15 stl_18\">Acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:47.054em;top:11.4182em;\"><span class=\"stl_191 stl_15 stl_19\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:36.2746em;top:12.1682em;\"><span class=\"stl_191 stl_15 stl_385\" style=\"word-spacing:-0.04em;\">rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6721em;top:12.1682em;\"><span class=\"stl_191 stl_15 stl_443\">intangible \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2696em;top:12.9182em;\"><span class=\"stl_191 stl_15 stl_280\" style=\"word-spacing:1.0869em;\">Product development \u00a0</span></div><div class=\"stl_01\" style=\"left:46.139em;top:12.9182em;\"><span class=\"stl_191 stl_15 stl_200\" style=\"word-spacing:-0.034em;\">assets in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:13.6738em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:32.8015em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_340\">rights \u00a0</span></div><div class=\"stl_01\" style=\"left:36.0115em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_34\" style=\"word-spacing:-0.029em;\">in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3209em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_441\">Software \u00a0</span></div><div class=\"stl_01\" style=\"left:46.1777em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_55\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9784em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_38\" style=\"word-spacing:-0.0245em;\">Costs as of January 1, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8571em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_611\">5,458,700 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.074em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_117\">733,770 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7877em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_420\">100,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.534em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_224\">134,371 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7921em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_97\">6,427,226 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_221\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:37.1427em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_648\">279,714 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4421em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_320\">3,006 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5459em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_116\">142,691 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2846em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_167\">425,411 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_72\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9971em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.4327em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_411\">2,572 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.9609em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_422\">(2,572) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1702em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.724em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9971em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:43.7215em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.4459em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:53.1702em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.724em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9971em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.9752em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_379\">131 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4459em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.424em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_379\">131 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7234em;top:20.4619em;\"><span class=\"stl_191 stl_15 stl_181\" style=\"word-spacing:-0.0164em;\">Cost as of December 31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6352em;top:20.4619em;\"><span class=\"stl_191 stl_15 stl_305\">5,458,700 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3821em;top:20.4619em;\"><span class=\"stl_191 stl_15 stl_446\">1,013,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6228em;top:20.4619em;\"><span class=\"stl_191 stl_15 stl_70\">106,094 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3715em;top:20.4619em;\"><span class=\"stl_191 stl_15 stl_228\">274,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5477em;top:20.4619em;\"><span class=\"stl_191 stl_15 stl_611\">6,852,768 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:22.0932em;\"><span class=\"stl_277 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">Amortization as of January 1, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3477em;top:22.0932em;\"><span class=\"stl_277 stl_08 stl_599\">545,870 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9959em;top:22.0932em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.1346em;top:22.0932em;z-index:655;\"><span class=\"stl_277 stl_08 stl_372\">7</span><span class=\"stl_277 stl_08 stl_331\">7</span><span class=\"stl_277 stl_08 stl_51\">,400 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4446em;top:22.0932em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2477em;top:22.0932em;\"><span class=\"stl_277 stl_08 stl_132\">623,270 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_340\">Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3509em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_187\">272,935 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9959em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.1352em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_608\">13,908 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4446em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.214em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_419\">286,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2715em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9959em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:43.7202em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.4446em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:53.169em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2715em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9959em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:43.2915em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_317\">18 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4446em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.7402em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_317\">18 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:26.175em;\"><span class=\"stl_191 stl_15 stl_52\" style=\"word-spacing:-0.0265em;\">Amortization as of December 31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.1815em;top:26.175em;\"><span class=\"stl_191 stl_15 stl_325\">818,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9884em;top:26.175em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.0084em;top:26.175em;\"><span class=\"stl_191 stl_15 stl_137\">91,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4371em;top:26.175em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.1771em;top:26.175em;\"><span class=\"stl_191 stl_15 stl_382\">910,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:27.8007em;\"><span class=\"stl_191 stl_15 stl_44\" style=\"word-spacing:-0.0276em;\">Carrying amount as of December 31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6552em;top:27.8007em;\"><span class=\"stl_191 stl_15 stl_172\">4,639,895 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3809em;top:27.8007em;\"><span class=\"stl_191 stl_15 stl_446\">1,013,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0177em;top:27.8007em;\"><span class=\"stl_191 stl_15 stl_133\">14,768 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3709em;top:27.8007em;\"><span class=\"stl_191 stl_15 stl_228\">274,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5465em;top:27.8007em;\"><span class=\"stl_191 stl_15 stl_173\">5,942,637 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:29.4263em;\"><span class=\"stl_191 stl_15 stl_386\" style=\"word-spacing:-0.0332em;\">Geographical split of intangible assets \u2013 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:30.4538em;\"><span class=\"stl_277 stl_08 stl_215\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7696em;top:30.4538em;\"><span class=\"stl_277 stl_08 stl_608\">5,941,664 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:31.4757em;\"><span class=\"stl_277 stl_08 stl_374\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1684em;top:31.4757em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:32.4976em;\"><span class=\"stl_277 stl_08 stl_63\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3809em;top:32.4976em;\"><span class=\"stl_277 stl_08 stl_64\">973 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:33.5138em;\"><span class=\"stl_191 stl_15 stl_192\" style=\"word-spacing:-0.0327em;\">Total intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5465em;top:33.5138em;\"><span class=\"stl_191 stl_15 stl_173\">5,942,637 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9828em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3303em;top:11.4182em;\"><span class=\"stl_191 stl_15 stl_19\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:40.4434em;top:12.1682em;\"><span class=\"stl_191 stl_15 stl_176\" style=\"word-spacing:-0.0376em;\">fixtures and \u00a0</span></div><div class=\"stl_01\" style=\"left:39.9059em;top:12.9182em;\"><span class=\"stl_191 stl_15 stl_442\" style=\"word-spacing:-0.0375em;\">fittings, other \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1428em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_79\" style=\"word-spacing:-0.0428em;\">Land and \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5703em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_386\">Leasehold \u00a0</span></div><div class=\"stl_01\" style=\"left:36.4584em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0343em;\">Plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1828em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0367em;\">plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:44.924em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_445\" style=\"word-spacing:-0.0413em;\">Assets under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:14.4238em;\"><span class=\"stl_277 stl_08 stl_340\" style=\"word-spacing:-0.0396em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0672em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:0.9976em;\">buildings improvement \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1403em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_472\">machinery \u00a0</span></div><div class=\"stl_01\" style=\"left:40.7615em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_16\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:45.0659em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_16\">construction \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9803em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_59\" style=\"word-spacing:-0.024em;\">Costs as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5984em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_361\">858,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6684em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_305\">40,237 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.1003em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_101\">514,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8084em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_228\">626,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5978em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_552\">196,130 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7759em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_490\">2,235,315 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_221\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:27.964em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_228\">13,387 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9884em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_268\">2,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.3872em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_320\">20,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.424em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_35\">8,864 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8278em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_329\">96,836 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2497em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_303\">142,525 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_72\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0203em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_649\">79,712 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9797em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_160\">2,688 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4103em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_169\">43,983 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1603em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_275\">21,797 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.404em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_570\">(148,180) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1728em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6953em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_353\">300,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0047em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_326\">1,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.384em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_492\">86,336 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7822em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_575\">234,826 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8559em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_171\">58,926 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2547em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_390\">681,453 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:28.6178em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_650\">(178) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2747em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:37.339em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_290\">(27,101) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9953em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_437\">(11,603) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4484em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.3553em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_484\">(38,882) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9603em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_169\">16,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8315em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_169\">39 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7247em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_389\">8,520 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4828em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_613\">9,295 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1703em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_341\">3,009 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6278em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_561\">37,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_424\" style=\"word-spacing:-0.0159em;\">Cost as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9172em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_506\">1,268,062 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5922em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_265\">47,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9034em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_482\">646,707 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6728em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_106\">889,215 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3547em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_335\">206,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6553em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_301\">3,057,741 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">Depreciation and impairment losses as of January 1,2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5928em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_307\">228,405 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6947em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_105\">15,472 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.1053em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_140\">192,624 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8384em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_362\">114,841 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2665em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_161\">551,342 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_82\">Depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9915em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_302\">51,424 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0109em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_303\">6,491 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4009em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_596\">62,552 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1672em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_297\">85,511 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.259em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_107\">205,978 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5503em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2747em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:37.1628em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_258\">(25,277) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3122em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_289\">(8,745) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.3759em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_608\">(34,022) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.2853em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_511\">1,220 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.834em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_125\">26 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7947em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_434\">4,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4484em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_389\">1,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4484em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.9165em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_308\">6,928 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_44\" style=\"word-spacing:-0.0277em;\">Depreciation and impairment losses as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4734em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_244\">281,049 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5615em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_49\">21,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9072em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_342\">234,033 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.734em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_347\">193,155 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4403em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.0678em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_320\">730,226 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_33\" style=\"word-spacing:-0.0274em;\">Carrying amount as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5228em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_651\">987,013 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5359em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_455\">25,047 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.969em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_558\">412,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6134em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_361\">696,060 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.354em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_335\">206,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6065em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_184\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9818em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3299em;top:11.4182em;\"><span class=\"stl_191 stl_15 stl_19\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:40.443em;top:12.1682em;\"><span class=\"stl_191 stl_15 stl_176\" style=\"word-spacing:-0.0376em;\">fixtures and \u00a0</span></div><div class=\"stl_01\" style=\"left:39.9055em;top:12.9182em;\"><span class=\"stl_191 stl_15 stl_442\" style=\"word-spacing:-0.0375em;\">fittings, other \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1424em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_79\" style=\"word-spacing:-0.0428em;\">Land and \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5699em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_386\">Leasehold \u00a0</span></div><div class=\"stl_01\" style=\"left:36.458em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0343em;\">Plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1824em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0367em;\">plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:44.9237em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_445\" style=\"word-spacing:-0.0413em;\">Assets under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:14.4238em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0668em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:0.9976em;\">buildings improvement \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1399em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_472\">machinery \u00a0</span></div><div class=\"stl_01\" style=\"left:40.7612em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_16\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:45.0656em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_16\">construction \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9799em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7255em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_38\" style=\"word-spacing:-0.0245em;\">Costs as of January 1, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.603em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_512\">546,771 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6437em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_190\">22,288 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0749em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_225\">424,291 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8924em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_382\">312,179 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5393em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_346\">578,707 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7187em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_269\">1,884,236 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7255em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_221\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9693em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_156\">73,768 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0849em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_350\">6,147 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4124em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_387\">26,023 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8081em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_228\">146,421 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4999em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_333\">108,885 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2706em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_125\">361,244 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7249em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_72\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5868em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_212\">238,004 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.7174em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_392\">11,802 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4262em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_85\">73,919 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9199em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_583\">167,745 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3774em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_31\">(491,470) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1718em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7256em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5499em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2743em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:37.5481em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_121\">(9,864) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.7706em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_245\">(428) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4474em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.4131em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_652\">(10,292) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7256em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5499em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2743em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9987em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.9962em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_381\">119 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.3331em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_24\">8</span></div><div class=\"stl_01\" style=\"left:52.4156em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_245\">127 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7262em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_364\" style=\"word-spacing:-0.0162em;\">Cost as of December 31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4318em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_235\">858,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5312em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_395\">40,237 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9287em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_224\">514,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6449em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_432\">626,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4256em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_349\">196,130 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5612em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_169\">2,235,315 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7262em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">Depreciation and impairment losses as of January 1, 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6331em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_169\">200,818 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6731em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_484\">12,277 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.1931em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_653\">169,761 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1418em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_65\">88,712 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4493em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2481em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_388\">471,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7268em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_82\">Depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9937em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_563\">27,587 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0781em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_230\">3,196 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4468em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_296\">31,061 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1087em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_638\">26,360 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4487em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.5437em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_255\">88,204 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7268em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5512em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2756em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:37.6124em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_654\">(8,198) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.7631em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_306\">(301) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4487em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.7087em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_65\">(8,499) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7262em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5506em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.9912em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_642\">(1) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9993em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:43.2856em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_312\">70 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4481em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.7368em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_245\">69 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7262em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_42\" style=\"word-spacing:-0.0278em;\">Depreciation and impairment losses as of December 31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4299em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_212\">228,405 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5468em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_131\">15,472 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9287em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_224\">192,624 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6712em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_134\">114,841 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4412em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.1012em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_48\">551,342 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2239": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_187\" style=\"word-spacing:0.0035em;\">Note 10 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_291\" style=\"word-spacing:0.009em;\">Fees to auditor appointed at the annual general meeting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">Audit of financial statements</span><sup style=\"top: -0.2079em;\"><span class=\"stl_367 stl_08 stl_616\" style=\"word-spacing:-0.0496em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:31.1251em;top:11.909em;\"><span class=\"stl_277 stl_08 stl_99\">3,903 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8782em;top:11.909em;\"><span class=\"stl_277 stl_08 stl_348\">2,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.9309em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">Other assurance services \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5994em;top:12.9309em;\"><span class=\"stl_277 stl_08 stl_384\">268 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4326em;top:12.9309em;\"><span class=\"stl_277 stl_08 stl_285\">176 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.9528em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">Tax advisory \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5838em;top:13.9528em;\"><span class=\"stl_277 stl_08 stl_204\">486 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3869em;top:13.9528em;\"><span class=\"stl_277 stl_08 stl_365\">501 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.9747em;\"><span class=\"stl_277 stl_08 stl_248\" style=\"word-spacing:-0.0355em;\">Other services \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6088em;top:14.9747em;\"><span class=\"stl_277 stl_08 stl_24\">653 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4101em;top:14.9747em;\"><span class=\"stl_277 stl_08 stl_355\">143 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7251em;top:15.9909em;\"><span class=\"stl_191 stl_15 stl_63\">Fees \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0219em;top:15.9909em;\"><span class=\"stl_191 stl_15 stl_101\">5,310 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7969em;top:15.9909em;\"><span class=\"stl_191 stl_15 stl_156\">3,028 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.5169em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:17.4793em;\"><span class=\"stl_74 stl_08 stl_514\" style=\"word-spacing:-0.0457em;\">2023 audit of financial statements includes DKK 0.4 million of additional fee related to 2022 primarily due to expansion of sales activities \u00a0</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:18.0628em;\"><span class=\"stl_74 stl_08 stl_372\" style=\"word-spacing:-0.0459em;\">following the mpox outbreak. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.6069em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">The fee for non-audit services provided to the Group \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.4401em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">by Deloitte Statsautoriseret Revisionspartnerselskab, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2732em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">Denmark, amounted to DKK 0.9 million (DKK 0.3 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.1063em;\"><span class=\"stl_532 stl_08 stl_59\" style=\"word-spacing:-0.0241em;\">million) and consisted of assurance work related to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.9394em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">the assistance with compliance reviews, and other \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7726em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0345em;\">accounting and tax advisory services. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2245": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">Interest income is recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">at the amounts relating to the financial year. Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">income also includes net positive value adjustments of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">financial instruments and securities, adjustment of the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">net present value of provisions and net currency gains. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2246": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">Interest income is recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">at the amounts relating to the financial year. Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">income also includes net positive value adjustments of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">financial instruments and securities, adjustment of the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">net present value of provisions and net currency gains. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_303\" style=\"word-spacing:0.002em;\">Note 11 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_337\" style=\"word-spacing:0.0097em;\">Financial income \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.8077em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:16.8021em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:16.8021em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.4921em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Financial income from bank and deposit contracts</span><sup style=\"top: -0.2079em;\"><span class=\"stl_367 stl_08 stl_604\" style=\"word-spacing:-0.056em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:64.8208em;top:18.4923em;\"><span class=\"stl_277 stl_08 stl_293\">40,214 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.7376em;top:18.4923em;\"><span class=\"stl_277 stl_08 stl_125\">26 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:19.5142em;\"><span class=\"stl_277 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">Financial income from securities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7976em;top:19.5142em;\"><span class=\"stl_277 stl_08 stl_484\">14,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6264em;top:19.5142em;\"><span class=\"stl_277 stl_08 stl_618\">19,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:20.5361em;\"><span class=\"stl_277 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">Fair value adjustments on securities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7864em;top:20.5361em;\"><span class=\"stl_277 stl_08 stl_617\">30,777 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1789em;top:20.5361em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:21.558em;\"><span class=\"stl_277 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Adjustment of deferred consideration due to change in estimated timing of payments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8464em;top:21.558em;\"><span class=\"stl_277 stl_08 stl_593\">13,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5564em;top:21.558em;\"><span class=\"stl_277 stl_08 stl_181\">54,390 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:22.5798em;\"><span class=\"stl_277 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">Currency adjustment deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1145em;top:22.5798em;\"><span class=\"stl_277 stl_08 stl_384\">2,563 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1789em;top:22.5798em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:23.6017em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">Net gains on derivative financial instruments at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:64.9295em;top:23.6017em;\"><span class=\"stl_277 stl_08 stl_619\">11,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1789em;top:23.6017em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:24.6236em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Net foreign exchange gains \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3989em;top:24.6236em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.9076em;top:24.6236em;\"><span class=\"stl_277 stl_08 stl_376\">4,578 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:25.6398em;\"><span class=\"stl_191 stl_15 stl_199\" style=\"word-spacing:-0.0369em;\">Financial income \u00a0</span></div><div class=\"stl_01\" style=\"left:64.347em;top:25.6398em;\"><span class=\"stl_191 stl_15 stl_154\">112,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4433em;top:25.6398em;\"><span class=\"stl_191 stl_15 stl_288\">78,537 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.1665em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:39.2126em;top:27.1289em;\"><span class=\"stl_74 stl_08 stl_77\" style=\"word-spacing:-0.0451em;\">Interest income from financial assets measured at amortized cost \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2247": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">Interest income is recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">at the amounts relating to the financial year. Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">income also includes net positive value adjustments of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">financial instruments and securities, adjustment of the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">net present value of provisions and net currency gains. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">Interest expenses are recognized in the income state- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">ment at the amounts relating to the financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Financial expenses also include adjustment of net \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">present value of the deferred consideration, cf. note 24, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">negative value adjustments of financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0349em;\">and securities and net currency losses. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2249": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">Interest income is recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">at the amounts relating to the financial year. Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">income also includes net positive value adjustments of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">financial instruments and securities, adjustment of the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">net present value of provisions and net currency gains. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_303\" style=\"word-spacing:0.002em;\">Note 11 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_337\" style=\"word-spacing:0.0097em;\">Financial income \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.8077em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:16.8021em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:16.8021em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.4921em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Financial income from bank and deposit contracts</span><sup style=\"top: -0.2079em;\"><span class=\"stl_367 stl_08 stl_604\" style=\"word-spacing:-0.056em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:64.8208em;top:18.4923em;\"><span class=\"stl_277 stl_08 stl_293\">40,214 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.7376em;top:18.4923em;\"><span class=\"stl_277 stl_08 stl_125\">26 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:19.5142em;\"><span class=\"stl_277 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">Financial income from securities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7976em;top:19.5142em;\"><span class=\"stl_277 stl_08 stl_484\">14,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6264em;top:19.5142em;\"><span class=\"stl_277 stl_08 stl_618\">19,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:20.5361em;\"><span class=\"stl_277 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">Fair value adjustments on securities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7864em;top:20.5361em;\"><span class=\"stl_277 stl_08 stl_617\">30,777 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1789em;top:20.5361em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:21.558em;\"><span class=\"stl_277 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Adjustment of deferred consideration due to change in estimated timing of payments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8464em;top:21.558em;\"><span class=\"stl_277 stl_08 stl_593\">13,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5564em;top:21.558em;\"><span class=\"stl_277 stl_08 stl_181\">54,390 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:22.5798em;\"><span class=\"stl_277 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">Currency adjustment deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1145em;top:22.5798em;\"><span class=\"stl_277 stl_08 stl_384\">2,563 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1789em;top:22.5798em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:23.6017em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">Net gains on derivative financial instruments at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:64.9295em;top:23.6017em;\"><span class=\"stl_277 stl_08 stl_619\">11,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1789em;top:23.6017em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:24.6236em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Net foreign exchange gains \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3989em;top:24.6236em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.9076em;top:24.6236em;\"><span class=\"stl_277 stl_08 stl_376\">4,578 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:25.6398em;\"><span class=\"stl_191 stl_15 stl_199\" style=\"word-spacing:-0.0369em;\">Financial income \u00a0</span></div><div class=\"stl_01\" style=\"left:64.347em;top:25.6398em;\"><span class=\"stl_191 stl_15 stl_154\">112,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4433em;top:25.6398em;\"><span class=\"stl_191 stl_15 stl_288\">78,537 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.1665em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:39.2126em;top:27.1289em;\"><span class=\"stl_74 stl_08 stl_77\" style=\"word-spacing:-0.0451em;\">Interest income from financial assets measured at amortized cost \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2255": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_303\" style=\"word-spacing:0.002em;\">Note 12 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_358\" style=\"word-spacing:0.0075em;\">Financial expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">Interest expenses are recognized in the income state- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">ment at the amounts relating to the financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Financial expenses also include adjustment of net \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">present value of the deferred consideration, cf. note 24, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">negative value adjustments of financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0349em;\">and securities and net currency losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6411em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:17.6354em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:17.6354em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3254em;\"><span class=\"stl_277 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Interest expenses on debt</span><sup style=\"top: -0.2079em;\"><span class=\"stl_367 stl_08 stl_620\" style=\"word-spacing:-0.0504em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:31.1168em;top:19.3257em;\"><span class=\"stl_277 stl_08 stl_24\">3,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5624em;top:19.3257em;\"><span class=\"stl_277 stl_08 stl_342\">16,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:20.3476em;\"><span class=\"stl_277 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">Fair value adjustments on securities \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3831em;top:20.3476em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2449em;top:20.3476em;\"><span class=\"stl_277 stl_08 stl_452\">190,301 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:21.9663em;\"><span class=\"stl_277 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">Unwinding of the discount related to deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5124em;top:21.9663em;\"><span class=\"stl_277 stl_08 stl_590\">101,961 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2593em;top:21.9663em;\"><span class=\"stl_277 stl_08 stl_148\">103,049 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:22.9882em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Currency adjustment deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3824em;top:22.9882em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6099em;top:22.9882em;\"><span class=\"stl_277 stl_08 stl_31\">11,597 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:24.0101em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">Net loss on derivative financial instruments at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3824em;top:24.0101em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6562em;top:24.0101em;\"><span class=\"stl_277 stl_08 stl_12\">17,776 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:25.0319em;\"><span class=\"stl_277 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">Financial expenses, other \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8262em;top:25.0319em;\"><span class=\"stl_277 stl_08 stl_284\">11,469 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1618em;top:25.0319em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:26.6507em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Net foreign exchange losses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8118em;top:26.6507em;\"><span class=\"stl_277 stl_08 stl_123\">15,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1618em;top:26.6507em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:27.6669em;\"><span class=\"stl_191 stl_15 stl_441\" style=\"word-spacing:-0.0379em;\">Financial expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2943em;top:27.6669em;\"><span class=\"stl_191 stl_15 stl_422\">132,380 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0981em;top:27.6669em;\"><span class=\"stl_191 stl_15 stl_100\">339,363 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.1937em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:29.1561em;\"><span class=\"stl_74 stl_08 stl_372\" style=\"word-spacing:-0.0461em;\">Interest expenses on financial liabilities measured at amortized cost \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2265": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_131\" style=\"word-spacing:0.0025em;\">Note 13 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_284\" style=\"word-spacing:0.026em;\">Tax for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">Income tax for the year comprises current tax and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0265em;\">deferred tax for the year. The part relating to the profit \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">for the year is recognized in the income statement, and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">the part attributable to items in the comprehensive \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0292em;\">income is recognized in the comprehensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_185\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0381em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">The tax effect of costs that have been recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">directly in equity is recognized in equity under the rele- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0257em;\">vant items. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3712em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">Current tax receivable is recognized in the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.2043em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">sheet under current asset. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.8712em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Current tax payable is recognized in the balance sheet \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.7043em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">under current liabilities. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.3712em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Deferred tax is measured using the balance sheet \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2043em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0347em;\">liability method on all temporary differences between \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.0374em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">accounting values and tax values. Deferred tax liabili- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.8706em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">ties arising from temporary tax differences are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.7037em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">nized in the balance sheet as a liability. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2037em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Deferred tax assets arising from temporary deductible \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0368em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">differences and tax losses carried forward are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8699em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">nized when it is probable that they can be realized by \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7031em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">offsetting them against taxable temporary differences \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5362em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">or future taxable profits. At each balance sheet date, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3693em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">it is assessed whether it is probable that there will be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.2024em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">sufficient future taxable income for the deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">asset to be utilized. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.7024em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">Deferred income tax is provided on temporary taxable \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.5356em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">differences arising on investments in subsidiaries, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3687em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">unless the parent company is able to control the timing \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.2018em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">when the deferred tax is to be realized and it is likely \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">that the deferred tax will not be realized within the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">foreseeable future. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5349em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">Deferred tax is calculated at the tax rates applicable on \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3681em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">the balance sheet date for the income years in which \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.2012em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">the tax asset is expected to be utilized. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1834em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9609em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.9032em;\"><span class=\"stl_191 stl_15 stl_201\" style=\"word-spacing:-0.0296em;\">Tax recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">Current tax on profit for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8296em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_313\">11,493 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5752em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_293\">15,738 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Adjustments to current tax for previous years \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9652em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_570\">(9,929) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.7127em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_155\">33 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.9688em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Current tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9778em;top:14.9688em;\"><span class=\"stl_191 stl_15 stl_361\">1,564 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.439em;top:14.9688em;\"><span class=\"stl_191 stl_15 stl_150\">15,771 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.2337em;\"><span class=\"stl_277 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">Change in deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1659em;top:16.2337em;\"><span class=\"stl_277 stl_08 stl_621\">6,190 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1521em;top:16.2337em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:17.25em;\"><span class=\"stl_191 stl_15 stl_213\" style=\"word-spacing:-0.0329em;\">Deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:31.039em;top:17.25em;\"><span class=\"stl_191 stl_15 stl_289\">6,190 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.144em;top:17.25em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:18.5756em;\"><span class=\"stl_191 stl_15 stl_82\" style=\"word-spacing:-0.0299em;\">Tax for the year recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0427em;top:18.5756em;\"><span class=\"stl_191 stl_15 stl_264\">7,754 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4377em;top:18.5756em;\"><span class=\"stl_191 stl_15 stl_150\">15,771 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:20.2012em;\"><span class=\"stl_191 stl_15 stl_189\" style=\"word-spacing:-0.0316em;\">Tax on income for the year is explained as follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:21.2287em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">Income before company tax \u00a0</span></div><div class=\"stl_01\" style=\"left:29.964em;top:21.2287em;\"><span class=\"stl_277 stl_08 stl_169\">1,482,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1228em;top:21.2287em;\"><span class=\"stl_277 stl_08 stl_622\">(331,611) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:22.2506em;\"><span class=\"stl_277 stl_08 stl_90\" style=\"word-spacing:-0.0259em;\">Calculated tax (22.0%) on income before company tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4728em;top:22.2506em;\"><span class=\"stl_277 stl_08 stl_85\">326,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3296em;top:22.2506em;\"><span class=\"stl_277 stl_08 stl_447\">(72,954) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:23.8706em;\"><span class=\"stl_191 stl_15 stl_185\" style=\"word-spacing:-0.0284em;\">Tax effect on: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:24.8981em;\"><span class=\"stl_277 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Different tax percentage in foreign subsidiaries \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8952em;top:24.8981em;\"><span class=\"stl_277 stl_08 stl_131\">(3,308) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3634em;top:24.8981em;\"><span class=\"stl_277 stl_08 stl_60\">572 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.92em;\"><span class=\"stl_277 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Non-recognized deferred tax asset on current year losses in foreign subsidiaries \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4152em;top:25.92em;\"><span class=\"stl_277 stl_08 stl_392\">(747) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7384em;top:25.92em;\"><span class=\"stl_277 stl_08 stl_565\">(1,953) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.9418em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Income ()/expenses that are not taxable/deductible for tax purposes \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7815em;top:26.9418em;\"><span class=\"stl_277 stl_08 stl_426\">16,273 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7046em;top:26.9418em;\"><span class=\"stl_277 stl_08 stl_134\">(4,443) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.9637em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Deduction for interest and currency adjustments related to debt forgiveness \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5765em;top:27.9637em;\"><span class=\"stl_277 stl_08 stl_373\">(60,009) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1527em;top:27.9637em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.9856em;\"><span class=\"stl_277 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">Special tax credit \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5853em;top:28.9856em;\"><span class=\"stl_277 stl_08 stl_105\">(32,788) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.359em;top:28.9856em;\"><span class=\"stl_277 stl_08 stl_107\">(46,946) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:30.0075em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">Change in unrealized intra-group profits \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6384em;top:30.0075em;\"><span class=\"stl_277 stl_08 stl_623\">(11,025) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3396em;top:30.0075em;\"><span class=\"stl_277 stl_08 stl_444\">(25,099) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:31.0293em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Change in non-recognized tax asset \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2609em;top:31.0293em;\"><span class=\"stl_277 stl_08 stl_105\">(216,960) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2409em;top:31.0293em;\"><span class=\"stl_277 stl_08 stl_65\">166,561 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:32.0512em;\"><span class=\"stl_277 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Adjustments to current tax for previous years \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9646em;top:32.0512em;\"><span class=\"stl_277 stl_08 stl_570\">(9,929) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.7121em;top:32.0512em;\"><span class=\"stl_277 stl_08 stl_155\">33 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:33.0675em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Tax on income for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0434em;top:33.0675em;\"><span class=\"stl_191 stl_15 stl_264\">7,754 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4384em;top:33.0675em;\"><span class=\"stl_191 stl_15 stl_150\">15,771 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:34.6931em;\"><span class=\"stl_191 stl_15 stl_78\" style=\"word-spacing:-0.0304em;\">Tax recognized in other comprehensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:35.7206em;\"><span class=\"stl_277 stl_08 stl_64\" style=\"word-spacing:-0.03em;\">Remeasurements of defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0915em;top:35.7206em;\"><span class=\"stl_277 stl_08 stl_333\">4,505 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1515em;top:35.7206em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:37.3406em;\"><span class=\"stl_191 stl_15 stl_61\" style=\"word-spacing:-0.0307em;\">Tax recognized in equity \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:38.3681em;\"><span class=\"stl_277 stl_08 stl_38\" style=\"word-spacing:-0.0245em;\">Tax on share based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3715em;top:38.3681em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1509em;top:38.3681em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.1638em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0248em;\">Tax on income is an expense of DKK 7.8 million (DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.9969em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0283em;\">15.8 million), corresponding to an effective positive tax \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.83em;\"><span class=\"stl_532 stl_08 stl_402\" style=\"word-spacing:-0.0191em;\">rate of 0.5% (negative 4.8%). The parent company\u2019s \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.6632em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">taxable income for 2023 is DKK 0 million after use of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.4963em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">tax losses carried forward (DKK 0 million). Current tax \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.3294em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">and change in deferred tax expensed in 2023 relates \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.1625em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">mainly to Bavarian Nordic GmbH and Bavarian Nordic \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.9957em;\"><span class=\"stl_532 stl_08 stl_601\" style=\"word-spacing:-0.0405em;\">Berna GmbH. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.6625em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">'Income()/expenses that are not taxable/deductible for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.4957em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">tax purposes' is primarily transaction costs related to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.3288em;\"><span class=\"stl_532 stl_08 stl_216\" style=\"word-spacing:-0.0186em;\">'Acquisition of businesses'. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.9957em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">'Special tax credit' primarily relates to the 8% step \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.8288em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0327em;\">up deduction on research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.6619em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">according to Section 8B of the Danish Tax Assessment \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.495em;\"><span class=\"stl_532 stl_08 stl_76\">Act. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.1619em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">Current tax on profit for previous years relates primarily \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.995em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">to paid out tax credits on previous years losses arisen \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.8282em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">from research and development activities, according to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.6613em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">Section 8X of the Danish Tax Assessment Act.. \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5078em;top:10.4578em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.6328em;top:11.6572em;\"><span class=\"stl_191 stl_15 stl_417\">Exchange \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0209em;top:12.4072em;\"><span class=\"stl_191 stl_15 stl_201\" style=\"word-spacing:-0.0296em;\">rate adjust- \u00a0</span></div><div class=\"stl_01\" style=\"left:20.8472em;top:13.1572em;\"><span class=\"stl_191 stl_15 stl_278\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:24.5616em;top:13.1572em;\"><span class=\"stl_191 stl_15 stl_18\">Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:33.6616em;top:13.1572em;\"><span class=\"stl_191 stl_15 stl_204\" style=\"word-spacing:-0.038em;\">ments on \u00a0</span></div><div class=\"stl_01\" style=\"left:15.9872em;top:13.9072em;\"><span class=\"stl_191 stl_15 stl_69\" style=\"word-spacing:1.1198em;\">Adjustment from</span></div><div class=\"stl_01\" style=\"left:21.788em;top:13.9072em;\"><span class=\"stl_191 stl_15 stl_213\">Acqui- \u00a0</span></div><div class=\"stl_01\" style=\"left:26.1809em;top:13.9072em;\"><span class=\"stl_191 stl_15 stl_76\" style=\"word-spacing:-0.0427em;\">in the \u00a0</span></div><div class=\"stl_01\" style=\"left:33.1834em;top:13.9072em;\"><span class=\"stl_191 stl_15 stl_441\">translating \u00a0</span></div><div class=\"stl_01\" style=\"left:12.1834em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0366em;\">January 1, \u00a0</span></div><div class=\"stl_01\" style=\"left:16.1091em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0305em;\">to previous</span></div><div class=\"stl_01\" style=\"left:21.235em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">sition of \u00a0</span></div><div class=\"stl_01\" style=\"left:25.7547em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_200\">income \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8134em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_18\">Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2678em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_180\">foreign \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7103em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_69\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7141em;top:15.4128em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:13.7034em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.0928em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_61\" style=\"word-spacing:0.9892em;\">year businessess \u00a0</span></div><div class=\"stl_01\" style=\"left:24.8791em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_334\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5303em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_375\" style=\"word-spacing:-0.0453em;\">in equity \u00a0</span></div><div class=\"stl_01\" style=\"left:33.2466em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_278\">operations \u00a0</span></div><div class=\"stl_01\" style=\"left:38.1847em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_613\" style=\"word-spacing:0.0196em;\">31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_75\" style=\"word-spacing:-0.0375em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:13.2803em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_505\">62,881 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1459em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3978em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:25.5847em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_624\">(112,955) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9016em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1534em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.6672em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_625\">(50,074) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:18.1191em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Acquired rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:18.9522em;\"><span class=\"stl_277 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">development in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_144\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:13.4297em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_102\">(2,659) \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1459em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3978em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:25.5216em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_127\">(108,445) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9016em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1534em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.4234em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_627\">(111,104) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:20.8072em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">Property, plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_278\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:13.3597em;top:21.6403em;z-index:535;\"><span class=\"stl_277 stl_08 stl_144\">88</span><span class=\"stl_277 stl_08 stl_551\">,</span><span class=\"stl_277 stl_08 stl_332\">124 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.3591em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_66\">643 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.5847em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_336\">(33,546) \u00a0</span></div><div class=\"stl_01\" style=\"left:26.2041em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_292\">(1,223) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9016em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.7503em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_629\">(1,933) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7966em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_70\">52,065 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_178\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:14.1153em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_420\">287 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1453em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3972em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.6922em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_628\">(104) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9009em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1528em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:39.6416em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_292\">183 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:23.6841em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">Development projects \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">for sale \u00a0</span></div><div class=\"stl_01\" style=\"left:13.2766em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_536\">32,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1453em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3972em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.2059em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_343\">(6,502) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9016em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1534em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.8047em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_615\">25,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:25.5391em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Unrealized intra-group \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_201\">profits \u00a0</span></div><div class=\"stl_01\" style=\"left:13.1091em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_114\">(21,265) \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1453em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3972em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.1053em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_597\">11,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9016em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:35.3647em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_50\">642 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9841em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_590\">(9,598) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_34\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:14.1397em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_631\">191 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1466em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3984em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:27.2078em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_308\">27 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9022em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1541em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:39.6541em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_437\">218 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_144\">Provisions \u00a0</span></div><div class=\"stl_01\" style=\"left:14.8941em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:19.1459em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3978em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.4534em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_588\">1,100 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9022em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1541em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:39.2097em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_588\">1,100 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:14.8947em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:19.1466em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:22.1928em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_579\">7,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.2166em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_315\">(1,428) \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6216em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_333\">4,505 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3591em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_249\">364 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9178em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_632\">11,173 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">Financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:13.4834em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_630\">(7,017) \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1466em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3984em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:27.6503em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:30.4553em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_126\">(3,078) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1541em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.6322em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_123\">(10,095) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:13.3366em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_302\">27,405 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1466em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3984em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.3647em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_411\">8,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9022em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1541em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.8216em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_608\">35,790 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:32.5035em;\"><span class=\"stl_277 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">Tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_179\">forward \u00a0</span></div><div class=\"stl_01\" style=\"left:12.9722em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_225\">470,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.4459em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_634\">(11,703) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3984em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:25.9047em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_635\">(13,030) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9028em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:35.1909em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_275\">(642) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5028em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_150\">445,010 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7166em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_171\" style=\"word-spacing:-0.0273em;\">Not recognized tax asset \u00a0</span></div><div class=\"stl_01\" style=\"left:12.7891em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_103\">(650,778) \u00a0</span></div><div class=\"stl_01\" style=\"left:17.5784em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_154\">11,060 \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3997em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:25.7384em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_107\">216,960 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6541em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_125\">3,078 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1553em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.3509em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_636\">(419,680) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7166em;top:35.3747em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0301em;\">Recognized deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7166em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_248\" style=\"word-spacing:-0.0355em;\">tax assets/liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:14.8878em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:19.1397em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:21.4528em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_153\">(25,814) \u00a0</span></div><div class=\"stl_01\" style=\"left:26.1147em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_357\">(6,190) \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4997em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_235\">4,505 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5766em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_343\">(1,569) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.4566em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_102\">(29,068) \u00a0</span></div><div class=\"stl_01\" style=\"left:59.5226em;top:10.4578em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.5763em;top:13.1572em;\"><span class=\"stl_191 stl_15 stl_18\">Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:54.2544em;top:13.9072em;\"><span class=\"stl_191 stl_15 stl_417\">Adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:60.1957em;top:13.9072em;\"><span class=\"stl_191 stl_15 stl_76\" style=\"word-spacing:-0.0427em;\">in the \u00a0</span></div><div class=\"stl_01\" style=\"left:50.4513em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0366em;\">January 1, \u00a0</span></div><div class=\"stl_01\" style=\"left:54.3763em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_58\" style=\"word-spacing:-0.0288em;\">to previous \u00a0</span></div><div class=\"stl_01\" style=\"left:59.7694em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_200\">income \u00a0</span></div><div class=\"stl_01\" style=\"left:62.8282em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_18\">Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:67.4732em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_69\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9819em;top:15.4128em;\"><span class=\"stl_277 stl_08 stl_340\" style=\"word-spacing:-0.0396em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9688em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.3601em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_186\">year \u00a0</span></div><div class=\"stl_01\" style=\"left:58.8938em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_334\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5451em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_375\" style=\"word-spacing:-0.0453em;\">in equity \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9451em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_106\" style=\"word-spacing:0.0184em;\">31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9813em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_75\" style=\"word-spacing:-0.0375em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4201em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_626\">(10,421) \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4119em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:60.0607em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_455\">73,302 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.5538em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_505\">62,881 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:18.1191em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Acquired rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:18.9522em;\"><span class=\"stl_277 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">development in \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_144\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1594em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:57.4113em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:60.1995em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_291\">(2,659) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.7038em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_291\">(2,659) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9813em;top:20.8072em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">Property, plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9813em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_278\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5363em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_448\">60,500 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.1995em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_322\">4,184 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.0413em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_394\">23,440 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.6338em;top:21.6403em;z-index:1596;\"><span class=\"stl_277 stl_08 stl_144\">88</span><span class=\"stl_277 stl_08 stl_551\">,</span><span class=\"stl_277 stl_08 stl_332\">124 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9813em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_178\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3976em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_451\">370 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4119em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:61.0388em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_630\">(83) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:69.3894em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_420\">287 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9813em;top:23.6841em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">Development projects \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9813em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">for sale \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5432em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_536\">32,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4119em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:61.6638em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.5507em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_536\">32,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:25.5391em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Unrealized intra-group \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_201\">profits \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1594em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:55.5969em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_325\">(46,364) \u00a0</span></div><div class=\"stl_01\" style=\"left:60.0488em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_272\">25,099 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.3832em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_114\">(21,265) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_34\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:52.7201em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_162\">37 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4113em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:60.8988em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_162\">154 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9151em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:69.4126em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_631\">191 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">Financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3788em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_429\">297 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4113em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:61.6632em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:64.5169em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_332\">(7,314) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7557em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_630\">(7,017) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6107em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_245\">27,994 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4113em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:60.3994em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_599\">5,282 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4794em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_250\">(5,871) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6088em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_302\">27,405 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">Tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:31.2928em;\"><span class=\"stl_277 stl_08 stl_179\">forward \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2913em;top:31.2928em;\"><span class=\"stl_277 stl_08 stl_265\">361,516 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7863em;top:31.2928em;\"><span class=\"stl_277 stl_08 stl_523\">66,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.0807em;top:31.2928em;\"><span class=\"stl_277 stl_08 stl_490\">42,026 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:31.2928em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.2451em;top:31.2928em;\"><span class=\"stl_277 stl_08 stl_225\">470,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:32.3147em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0313em;\">Not recognized tax asset \u00a0</span></div><div class=\"stl_01\" style=\"left:51.0469em;top:32.3147em;\"><span class=\"stl_277 stl_08 stl_136\">(472,739) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.6201em;top:32.3147em;\"><span class=\"stl_277 stl_08 stl_102\">(24,663) \u00a0</span></div><div class=\"stl_01\" style=\"left:59.5832em;top:32.3147em;\"><span class=\"stl_277 stl_08 stl_539\">(166,561) \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4082em;top:32.3147em;\"><span class=\"stl_277 stl_08 stl_633\">13,185 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0607em;top:32.3147em;\"><span class=\"stl_277 stl_08 stl_103\">(650,778) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:33.331em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0301em;\">Recognized deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:34.1641em;\"><span class=\"stl_191 stl_15 stl_278\" style=\"word-spacing:-0.0363em;\">tax assets \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1519em;top:34.1641em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:57.4038em;top:34.1641em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:61.6557em;top:34.1641em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:65.9076em;top:34.1641em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.1595em;top:34.1641em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:10.2067em;\"><span class=\"stl_585 stl_15 stl_213\" style=\"word-spacing:-0.0329em;\">Deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:11.0454em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">Deferred tax assets relate to temporary differences \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:11.8786em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0343em;\">between the tax base and accounting carrying amount \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:12.7117em;\"><span class=\"stl_532 stl_08 stl_423\" style=\"word-spacing:-0.0367em;\">and tax losses carried forward. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:14.3786em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0355em;\">Deferred tax assets arising from temporary deductible \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:15.2117em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">differences and tax losses carried forward are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:16.0448em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">nized to the extent they are expected to be offset \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:16.8779em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">against future taxable income. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:18.5448em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">Recognized tax losses carried forward relate to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:19.3779em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Bavarian Nordic A/S and the two Danish subsidiaries \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:20.2111em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">Aktieselskabet af 1. juni 2011 I and Aktieselskabet af 1. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:21.0442em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">juni 2011 II regulated within Danish tax jurisdiction. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:22.7111em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">The tax value of non-recognized tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:23.5442em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">forward in Bavarian Nordic A/S and the two Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:24.3773em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">subsidiaries amounts to DKK 445.0 million (DKK 470.4 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:25.2104em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">million), whereas the tax value of non-recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:26.0436em;\"><span class=\"stl_532 stl_08 stl_199\" style=\"word-spacing:-0.037em;\">temporary deductible differences amounts to DKK 0 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:26.8767em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0225em;\">million (DKK 180.4 million). Tax rate used for Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:27.7098em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">entities is 22%. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:29.3767em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">The recognized deferred tax liability relates to Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:30.2098em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Nordic Berna GmbH, regulated within Swiss tax juris- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:31.0429em;\"><span class=\"stl_532 stl_08 stl_75\">diction. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:32.7098em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">The Company's right to use the tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:33.5429em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0324em;\">forward is not time-limited. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:10.2042em;\"><span class=\"stl_585 stl_15 stl_16\" style=\"word-spacing:-0.0393em;\">Pillar II \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:11.0429em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">The Bavarian Nordic Group is not yet in scope of the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:11.8761em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0261em;\">Minimum Tax Act (Pillar II), as adopted by the Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:12.7092em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0283em;\">Parliament on December 7, 2023. If the group becomes \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:13.5423em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">covered by the Minimum Tax Act, no additional tax \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:14.3754em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">costs is expected for the Bavarian Nordic Group, based \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:15.2086em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">on the current group structure. It will result in a not \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:16.0417em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">insignificant compliance task for the Bavarian Nordic \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:16.8748em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Group if the group is unable to utilize the safe harbour \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:17.7079em;\"><span class=\"stl_532 stl_08 stl_176\">rules. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2256": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">Interest expenses are recognized in the income state- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">ment at the amounts relating to the financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Financial expenses also include adjustment of net \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">present value of the deferred consideration, cf. note 24, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">negative value adjustments of financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0349em;\">and securities and net currency losses. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2257": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">Interest expenses are recognized in the income state- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">ment at the amounts relating to the financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Financial expenses also include adjustment of net \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">present value of the deferred consideration, cf. note 24, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">negative value adjustments of financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0349em;\">and securities and net currency losses. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2266": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">Income tax for the year comprises current tax and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0265em;\">deferred tax for the year. The part relating to the profit \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">for the year is recognized in the income statement, and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">the part attributable to items in the comprehensive \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0292em;\">income is recognized in the comprehensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_185\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0381em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">The tax effect of costs that have been recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">directly in equity is recognized in equity under the rele- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0257em;\">vant items. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3712em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">Current tax receivable is recognized in the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.2043em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">sheet under current asset. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.8712em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Current tax payable is recognized in the balance sheet \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.7043em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">under current liabilities. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.3712em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Deferred tax is measured using the balance sheet \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2043em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0347em;\">liability method on all temporary differences between \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.0374em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">accounting values and tax values. Deferred tax liabili- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.8706em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">ties arising from temporary tax differences are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.7037em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">nized in the balance sheet as a liability. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2037em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Deferred tax assets arising from temporary deductible \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0368em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">differences and tax losses carried forward are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8699em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">nized when it is probable that they can be realized by \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7031em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">offsetting them against taxable temporary differences \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5362em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">or future taxable profits. At each balance sheet date, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3693em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">it is assessed whether it is probable that there will be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.2024em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">sufficient future taxable income for the deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">asset to be utilized. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.7024em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">Deferred income tax is provided on temporary taxable \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.5356em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">differences arising on investments in subsidiaries, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3687em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">unless the parent company is able to control the timing \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.2018em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">when the deferred tax is to be realized and it is likely \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">that the deferred tax will not be realized within the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">foreseeable future. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5349em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">Deferred tax is calculated at the tax rates applicable on \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3681em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">the balance sheet date for the income years in which \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.2012em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">the tax asset is expected to be utilized. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2267": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">Income tax for the year comprises current tax and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0265em;\">deferred tax for the year. The part relating to the profit \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">for the year is recognized in the income statement, and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">the part attributable to items in the comprehensive \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0292em;\">income is recognized in the comprehensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_185\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0381em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">The tax effect of costs that have been recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">directly in equity is recognized in equity under the rele- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0257em;\">vant items. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3712em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">Current tax receivable is recognized in the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.2043em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">sheet under current asset. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.8712em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Current tax payable is recognized in the balance sheet \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.7043em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">under current liabilities. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.3712em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Deferred tax is measured using the balance sheet \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2043em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0347em;\">liability method on all temporary differences between \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.0374em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">accounting values and tax values. Deferred tax liabili- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.8706em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">ties arising from temporary tax differences are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.7037em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">nized in the balance sheet as a liability. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2037em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Deferred tax assets arising from temporary deductible \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0368em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">differences and tax losses carried forward are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8699em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">nized when it is probable that they can be realized by \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7031em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">offsetting them against taxable temporary differences \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5362em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">or future taxable profits. At each balance sheet date, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3693em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">it is assessed whether it is probable that there will be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.2024em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">sufficient future taxable income for the deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">asset to be utilized. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.7024em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">Deferred income tax is provided on temporary taxable \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.5356em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">differences arising on investments in subsidiaries, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3687em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">unless the parent company is able to control the timing \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.2018em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">when the deferred tax is to be realized and it is likely \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">that the deferred tax will not be realized within the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">foreseeable future. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5349em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">Deferred tax is calculated at the tax rates applicable on \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3681em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">the balance sheet date for the income years in which \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.2012em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">the tax asset is expected to be utilized. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2263": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:17.6411em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:17.6354em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:17.6354em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3254em;\"><span class=\"stl_277 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Interest expenses on debt</span><sup style=\"top: -0.2079em;\"><span class=\"stl_367 stl_08 stl_620\" style=\"word-spacing:-0.0504em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:31.1168em;top:19.3257em;\"><span class=\"stl_277 stl_08 stl_24\">3,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5624em;top:19.3257em;\"><span class=\"stl_277 stl_08 stl_342\">16,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:20.3476em;\"><span class=\"stl_277 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">Fair value adjustments on securities \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3831em;top:20.3476em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2449em;top:20.3476em;\"><span class=\"stl_277 stl_08 stl_452\">190,301 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:21.9663em;\"><span class=\"stl_277 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">Unwinding of the discount related to deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5124em;top:21.9663em;\"><span class=\"stl_277 stl_08 stl_590\">101,961 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2593em;top:21.9663em;\"><span class=\"stl_277 stl_08 stl_148\">103,049 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:22.9882em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Currency adjustment deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3824em;top:22.9882em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6099em;top:22.9882em;\"><span class=\"stl_277 stl_08 stl_31\">11,597 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:24.0101em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">Net loss on derivative financial instruments at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3824em;top:24.0101em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6562em;top:24.0101em;\"><span class=\"stl_277 stl_08 stl_12\">17,776 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:25.0319em;\"><span class=\"stl_277 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">Financial expenses, other \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8262em;top:25.0319em;\"><span class=\"stl_277 stl_08 stl_284\">11,469 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1618em;top:25.0319em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:26.6507em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Net foreign exchange losses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8118em;top:26.6507em;\"><span class=\"stl_277 stl_08 stl_123\">15,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1618em;top:26.6507em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:27.6669em;\"><span class=\"stl_191 stl_15 stl_441\" style=\"word-spacing:-0.0379em;\">Financial expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2943em;top:27.6669em;\"><span class=\"stl_191 stl_15 stl_422\">132,380 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0981em;top:27.6669em;\"><span class=\"stl_191 stl_15 stl_100\">339,363 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.1937em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:29.1561em;\"><span class=\"stl_74 stl_08 stl_372\" style=\"word-spacing:-0.0461em;\">Interest expenses on financial liabilities measured at amortized cost \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2264": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:17.6411em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:17.6354em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:17.6354em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3254em;\"><span class=\"stl_277 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Interest expenses on debt</span><sup style=\"top: -0.2079em;\"><span class=\"stl_367 stl_08 stl_620\" style=\"word-spacing:-0.0504em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:31.1168em;top:19.3257em;\"><span class=\"stl_277 stl_08 stl_24\">3,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5624em;top:19.3257em;\"><span class=\"stl_277 stl_08 stl_342\">16,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:20.3476em;\"><span class=\"stl_277 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">Fair value adjustments on securities \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3831em;top:20.3476em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2449em;top:20.3476em;\"><span class=\"stl_277 stl_08 stl_452\">190,301 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:21.9663em;\"><span class=\"stl_277 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">Unwinding of the discount related to deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5124em;top:21.9663em;\"><span class=\"stl_277 stl_08 stl_590\">101,961 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2593em;top:21.9663em;\"><span class=\"stl_277 stl_08 stl_148\">103,049 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:22.9882em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Currency adjustment deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3824em;top:22.9882em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6099em;top:22.9882em;\"><span class=\"stl_277 stl_08 stl_31\">11,597 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:24.0101em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">Net loss on derivative financial instruments at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3824em;top:24.0101em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6562em;top:24.0101em;\"><span class=\"stl_277 stl_08 stl_12\">17,776 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:25.0319em;\"><span class=\"stl_277 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">Financial expenses, other \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8262em;top:25.0319em;\"><span class=\"stl_277 stl_08 stl_284\">11,469 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1618em;top:25.0319em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:26.6507em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Net foreign exchange losses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8118em;top:26.6507em;\"><span class=\"stl_277 stl_08 stl_123\">15,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1618em;top:26.6507em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:27.6669em;\"><span class=\"stl_191 stl_15 stl_441\" style=\"word-spacing:-0.0379em;\">Financial expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2943em;top:27.6669em;\"><span class=\"stl_191 stl_15 stl_422\">132,380 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0981em;top:27.6669em;\"><span class=\"stl_191 stl_15 stl_100\">339,363 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.1937em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:29.1561em;\"><span class=\"stl_74 stl_08 stl_372\" style=\"word-spacing:-0.0461em;\">Interest expenses on financial liabilities measured at amortized cost \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2272": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:25.3712em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Deferred tax is measured using the balance sheet \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2043em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0347em;\">liability method on all temporary differences between \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.0374em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">accounting values and tax values. Deferred tax liabili- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.8706em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">ties arising from temporary tax differences are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.7037em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">nized in the balance sheet as a liability. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2037em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Deferred tax assets arising from temporary deductible \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0368em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">differences and tax losses carried forward are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8699em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">nized when it is probable that they can be realized by \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7031em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">offsetting them against taxable temporary differences \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5362em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">or future taxable profits. At each balance sheet date, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3693em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">it is assessed whether it is probable that there will be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.2024em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">sufficient future taxable income for the deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">asset to be utilized. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.7024em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">Deferred income tax is provided on temporary taxable \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.5356em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">differences arising on investments in subsidiaries, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3687em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">unless the parent company is able to control the timing \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.2018em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">when the deferred tax is to be realized and it is likely \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">that the deferred tax will not be realized within the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">foreseeable future. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5349em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">Deferred tax is calculated at the tax rates applicable on \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3681em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">the balance sheet date for the income years in which \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.2012em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">the tax asset is expected to be utilized. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2281": {
   "value": "<div class=\"stl_01\" style=\"left:4.714em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1834em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9609em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.9032em;\"><span class=\"stl_191 stl_15 stl_201\" style=\"word-spacing:-0.0296em;\">Tax recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">Current tax on profit for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8296em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_313\">11,493 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5752em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_293\">15,738 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Adjustments to current tax for previous years \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9652em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_570\">(9,929) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.7127em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_155\">33 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.9688em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Current tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9778em;top:14.9688em;\"><span class=\"stl_191 stl_15 stl_361\">1,564 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.439em;top:14.9688em;\"><span class=\"stl_191 stl_15 stl_150\">15,771 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.2337em;\"><span class=\"stl_277 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">Change in deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1659em;top:16.2337em;\"><span class=\"stl_277 stl_08 stl_621\">6,190 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1521em;top:16.2337em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:17.25em;\"><span class=\"stl_191 stl_15 stl_213\" style=\"word-spacing:-0.0329em;\">Deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:31.039em;top:17.25em;\"><span class=\"stl_191 stl_15 stl_289\">6,190 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.144em;top:17.25em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:18.5756em;\"><span class=\"stl_191 stl_15 stl_82\" style=\"word-spacing:-0.0299em;\">Tax for the year recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0427em;top:18.5756em;\"><span class=\"stl_191 stl_15 stl_264\">7,754 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4377em;top:18.5756em;\"><span class=\"stl_191 stl_15 stl_150\">15,771 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:20.2012em;\"><span class=\"stl_191 stl_15 stl_189\" style=\"word-spacing:-0.0316em;\">Tax on income for the year is explained as follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:21.2287em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">Income before company tax \u00a0</span></div><div class=\"stl_01\" style=\"left:29.964em;top:21.2287em;\"><span class=\"stl_277 stl_08 stl_169\">1,482,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1228em;top:21.2287em;\"><span class=\"stl_277 stl_08 stl_622\">(331,611) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:22.2506em;\"><span class=\"stl_277 stl_08 stl_90\" style=\"word-spacing:-0.0259em;\">Calculated tax (22.0%) on income before company tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4728em;top:22.2506em;\"><span class=\"stl_277 stl_08 stl_85\">326,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3296em;top:22.2506em;\"><span class=\"stl_277 stl_08 stl_447\">(72,954) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:23.8706em;\"><span class=\"stl_191 stl_15 stl_185\" style=\"word-spacing:-0.0284em;\">Tax effect on: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:24.8981em;\"><span class=\"stl_277 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Different tax percentage in foreign subsidiaries \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8952em;top:24.8981em;\"><span class=\"stl_277 stl_08 stl_131\">(3,308) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3634em;top:24.8981em;\"><span class=\"stl_277 stl_08 stl_60\">572 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.92em;\"><span class=\"stl_277 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Non-recognized deferred tax asset on current year losses in foreign subsidiaries \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4152em;top:25.92em;\"><span class=\"stl_277 stl_08 stl_392\">(747) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7384em;top:25.92em;\"><span class=\"stl_277 stl_08 stl_565\">(1,953) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.9418em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Income ()/expenses that are not taxable/deductible for tax purposes \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7815em;top:26.9418em;\"><span class=\"stl_277 stl_08 stl_426\">16,273 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7046em;top:26.9418em;\"><span class=\"stl_277 stl_08 stl_134\">(4,443) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.9637em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Deduction for interest and currency adjustments related to debt forgiveness \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5765em;top:27.9637em;\"><span class=\"stl_277 stl_08 stl_373\">(60,009) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1527em;top:27.9637em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.9856em;\"><span class=\"stl_277 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">Special tax credit \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5853em;top:28.9856em;\"><span class=\"stl_277 stl_08 stl_105\">(32,788) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.359em;top:28.9856em;\"><span class=\"stl_277 stl_08 stl_107\">(46,946) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:30.0075em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">Change in unrealized intra-group profits \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6384em;top:30.0075em;\"><span class=\"stl_277 stl_08 stl_623\">(11,025) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3396em;top:30.0075em;\"><span class=\"stl_277 stl_08 stl_444\">(25,099) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:31.0293em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Change in non-recognized tax asset \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2609em;top:31.0293em;\"><span class=\"stl_277 stl_08 stl_105\">(216,960) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2409em;top:31.0293em;\"><span class=\"stl_277 stl_08 stl_65\">166,561 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:32.0512em;\"><span class=\"stl_277 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Adjustments to current tax for previous years \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9646em;top:32.0512em;\"><span class=\"stl_277 stl_08 stl_570\">(9,929) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.7121em;top:32.0512em;\"><span class=\"stl_277 stl_08 stl_155\">33 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:33.0675em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Tax on income for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0434em;top:33.0675em;\"><span class=\"stl_191 stl_15 stl_264\">7,754 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4384em;top:33.0675em;\"><span class=\"stl_191 stl_15 stl_150\">15,771 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:34.6931em;\"><span class=\"stl_191 stl_15 stl_78\" style=\"word-spacing:-0.0304em;\">Tax recognized in other comprehensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:35.7206em;\"><span class=\"stl_277 stl_08 stl_64\" style=\"word-spacing:-0.03em;\">Remeasurements of defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0915em;top:35.7206em;\"><span class=\"stl_277 stl_08 stl_333\">4,505 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1515em;top:35.7206em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:37.3406em;\"><span class=\"stl_191 stl_15 stl_61\" style=\"word-spacing:-0.0307em;\">Tax recognized in equity \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:38.3681em;\"><span class=\"stl_277 stl_08 stl_38\" style=\"word-spacing:-0.0245em;\">Tax on share based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3715em;top:38.3681em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1509em;top:38.3681em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.1638em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0248em;\">Tax on income is an expense of DKK 7.8 million (DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.9969em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0283em;\">15.8 million), corresponding to an effective positive tax \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.83em;\"><span class=\"stl_532 stl_08 stl_402\" style=\"word-spacing:-0.0191em;\">rate of 0.5% (negative 4.8%). The parent company\u2019s \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.6632em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">taxable income for 2023 is DKK 0 million after use of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.4963em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">tax losses carried forward (DKK 0 million). Current tax \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.3294em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">and change in deferred tax expensed in 2023 relates \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.1625em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">mainly to Bavarian Nordic GmbH and Bavarian Nordic \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.9957em;\"><span class=\"stl_532 stl_08 stl_601\" style=\"word-spacing:-0.0405em;\">Berna GmbH. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.6625em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">'Income()/expenses that are not taxable/deductible for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.4957em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">tax purposes' is primarily transaction costs related to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.3288em;\"><span class=\"stl_532 stl_08 stl_216\" style=\"word-spacing:-0.0186em;\">'Acquisition of businesses'. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.9957em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">'Special tax credit' primarily relates to the 8% step \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.8288em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0327em;\">up deduction on research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.6619em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">according to Section 8B of the Danish Tax Assessment \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.495em;\"><span class=\"stl_532 stl_08 stl_76\">Act. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.1619em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">Current tax on profit for previous years relates primarily \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.995em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">to paid out tax credits on previous years losses arisen \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.8282em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">from research and development activities, according to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.6613em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">Section 8X of the Danish Tax Assessment Act.. \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5078em;top:10.4578em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.6328em;top:11.6572em;\"><span class=\"stl_191 stl_15 stl_417\">Exchange \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0209em;top:12.4072em;\"><span class=\"stl_191 stl_15 stl_201\" style=\"word-spacing:-0.0296em;\">rate adjust- \u00a0</span></div><div class=\"stl_01\" style=\"left:20.8472em;top:13.1572em;\"><span class=\"stl_191 stl_15 stl_278\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:24.5616em;top:13.1572em;\"><span class=\"stl_191 stl_15 stl_18\">Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:33.6616em;top:13.1572em;\"><span class=\"stl_191 stl_15 stl_204\" style=\"word-spacing:-0.038em;\">ments on \u00a0</span></div><div class=\"stl_01\" style=\"left:15.9872em;top:13.9072em;\"><span class=\"stl_191 stl_15 stl_69\" style=\"word-spacing:1.1198em;\">Adjustment from</span></div><div class=\"stl_01\" style=\"left:21.788em;top:13.9072em;\"><span class=\"stl_191 stl_15 stl_213\">Acqui- \u00a0</span></div><div class=\"stl_01\" style=\"left:26.1809em;top:13.9072em;\"><span class=\"stl_191 stl_15 stl_76\" style=\"word-spacing:-0.0427em;\">in the \u00a0</span></div><div class=\"stl_01\" style=\"left:33.1834em;top:13.9072em;\"><span class=\"stl_191 stl_15 stl_441\">translating \u00a0</span></div><div class=\"stl_01\" style=\"left:12.1834em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0366em;\">January 1, \u00a0</span></div><div class=\"stl_01\" style=\"left:16.1091em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0305em;\">to previous</span></div><div class=\"stl_01\" style=\"left:21.235em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">sition of \u00a0</span></div><div class=\"stl_01\" style=\"left:25.7547em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_200\">income \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8134em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_18\">Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2678em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_180\">foreign \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7103em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_69\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7141em;top:15.4128em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:13.7034em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.0928em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_61\" style=\"word-spacing:0.9892em;\">year businessess \u00a0</span></div><div class=\"stl_01\" style=\"left:24.8791em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_334\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5303em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_375\" style=\"word-spacing:-0.0453em;\">in equity \u00a0</span></div><div class=\"stl_01\" style=\"left:33.2466em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_278\">operations \u00a0</span></div><div class=\"stl_01\" style=\"left:38.1847em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_613\" style=\"word-spacing:0.0196em;\">31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_75\" style=\"word-spacing:-0.0375em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:13.2803em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_505\">62,881 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1459em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3978em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:25.5847em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_624\">(112,955) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9016em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1534em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.6672em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_625\">(50,074) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:18.1191em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Acquired rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:18.9522em;\"><span class=\"stl_277 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">development in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_144\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:13.4297em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_102\">(2,659) \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1459em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3978em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:25.5216em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_127\">(108,445) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9016em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1534em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.4234em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_627\">(111,104) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:20.8072em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">Property, plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_278\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:13.3597em;top:21.6403em;z-index:535;\"><span class=\"stl_277 stl_08 stl_144\">88</span><span class=\"stl_277 stl_08 stl_551\">,</span><span class=\"stl_277 stl_08 stl_332\">124 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.3591em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_66\">643 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.5847em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_336\">(33,546) \u00a0</span></div><div class=\"stl_01\" style=\"left:26.2041em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_292\">(1,223) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9016em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.7503em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_629\">(1,933) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7966em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_70\">52,065 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_178\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:14.1153em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_420\">287 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1453em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3972em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.6922em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_628\">(104) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9009em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1528em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:39.6416em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_292\">183 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:23.6841em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">Development projects \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">for sale \u00a0</span></div><div class=\"stl_01\" style=\"left:13.2766em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_536\">32,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1453em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3972em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.2059em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_343\">(6,502) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9016em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1534em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.8047em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_615\">25,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:25.5391em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Unrealized intra-group \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7147em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_201\">profits \u00a0</span></div><div class=\"stl_01\" style=\"left:13.1091em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_114\">(21,265) \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1453em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3972em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.1053em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_597\">11,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9016em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:35.3647em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_50\">642 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9841em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_590\">(9,598) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_34\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:14.1397em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_631\">191 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1466em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3984em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:27.2078em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_308\">27 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9022em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1541em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:39.6541em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_437\">218 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_144\">Provisions \u00a0</span></div><div class=\"stl_01\" style=\"left:14.8941em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:19.1459em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3978em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.4534em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_588\">1,100 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9022em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1541em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:39.2097em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_588\">1,100 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:14.8947em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:19.1466em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:22.1928em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_579\">7,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.2166em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_315\">(1,428) \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6216em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_333\">4,505 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3591em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_249\">364 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9178em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_632\">11,173 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">Financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:13.4834em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_630\">(7,017) \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1466em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3984em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:27.6503em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:30.4553em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_126\">(3,078) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1541em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.6322em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_123\">(10,095) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:13.3366em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_302\">27,405 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1466em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:23.3984em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.3647em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_411\">8,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9022em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1541em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.8216em;top:31.4816em;\"><span class=\"stl_277 stl_08 stl_608\">35,790 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:32.5035em;\"><span class=\"stl_277 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">Tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_179\">forward \u00a0</span></div><div class=\"stl_01\" style=\"left:12.9722em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_225\">470,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.4459em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_634\">(11,703) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3984em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:25.9047em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_635\">(13,030) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9028em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:35.1909em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_275\">(642) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5028em;top:33.3366em;\"><span class=\"stl_277 stl_08 stl_150\">445,010 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7166em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_171\" style=\"word-spacing:-0.0273em;\">Not recognized tax asset \u00a0</span></div><div class=\"stl_01\" style=\"left:12.7891em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_103\">(650,778) \u00a0</span></div><div class=\"stl_01\" style=\"left:17.5784em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_154\">11,060 \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3997em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:25.7384em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_107\">216,960 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6541em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_125\">3,078 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1553em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.3509em;top:34.3585em;\"><span class=\"stl_277 stl_08 stl_636\">(419,680) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7166em;top:35.3747em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0301em;\">Recognized deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7166em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_248\" style=\"word-spacing:-0.0355em;\">tax assets/liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:14.8878em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:19.1397em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:21.4528em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_153\">(25,814) \u00a0</span></div><div class=\"stl_01\" style=\"left:26.1147em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_357\">(6,190) \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4997em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_235\">4,505 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5766em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_343\">(1,569) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.4566em;top:36.2078em;\"><span class=\"stl_191 stl_15 stl_102\">(29,068) \u00a0</span></div><div class=\"stl_01\" style=\"left:59.5226em;top:10.4578em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.5763em;top:13.1572em;\"><span class=\"stl_191 stl_15 stl_18\">Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:54.2544em;top:13.9072em;\"><span class=\"stl_191 stl_15 stl_417\">Adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:60.1957em;top:13.9072em;\"><span class=\"stl_191 stl_15 stl_76\" style=\"word-spacing:-0.0427em;\">in the \u00a0</span></div><div class=\"stl_01\" style=\"left:50.4513em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0366em;\">January 1, \u00a0</span></div><div class=\"stl_01\" style=\"left:54.3763em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_58\" style=\"word-spacing:-0.0288em;\">to previous \u00a0</span></div><div class=\"stl_01\" style=\"left:59.7694em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_200\">income \u00a0</span></div><div class=\"stl_01\" style=\"left:62.8282em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_18\">Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:67.4732em;top:14.6572em;\"><span class=\"stl_191 stl_15 stl_69\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9819em;top:15.4128em;\"><span class=\"stl_277 stl_08 stl_340\" style=\"word-spacing:-0.0396em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9688em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.3601em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_186\">year \u00a0</span></div><div class=\"stl_01\" style=\"left:58.8938em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_334\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5451em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_375\" style=\"word-spacing:-0.0453em;\">in equity \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9451em;top:15.4072em;\"><span class=\"stl_191 stl_15 stl_106\" style=\"word-spacing:0.0184em;\">31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9813em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_75\" style=\"word-spacing:-0.0375em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4201em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_626\">(10,421) \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4119em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:60.0607em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_455\">73,302 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.5538em;top:17.0972em;\"><span class=\"stl_277 stl_08 stl_505\">62,881 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:18.1191em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Acquired rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:18.9522em;\"><span class=\"stl_277 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">development in \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_144\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1594em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:57.4113em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:60.1995em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_291\">(2,659) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.7038em;top:19.7854em;\"><span class=\"stl_277 stl_08 stl_291\">(2,659) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9813em;top:20.8072em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">Property, plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9813em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_278\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5363em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_448\">60,500 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.1995em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_322\">4,184 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.0413em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_394\">23,440 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:21.6403em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.6338em;top:21.6403em;z-index:1596;\"><span class=\"stl_277 stl_08 stl_144\">88</span><span class=\"stl_277 stl_08 stl_551\">,</span><span class=\"stl_277 stl_08 stl_332\">124 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9813em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_178\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3976em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_451\">370 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4119em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:61.0388em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_630\">(83) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:69.3894em;top:22.6622em;\"><span class=\"stl_277 stl_08 stl_420\">287 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9813em;top:23.6841em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">Development projects \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9813em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">for sale \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5432em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_536\">32,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4119em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:61.6638em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.5507em;top:24.5172em;\"><span class=\"stl_277 stl_08 stl_536\">32,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:25.5391em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Unrealized intra-group \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_201\">profits \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1594em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:55.5969em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_325\">(46,364) \u00a0</span></div><div class=\"stl_01\" style=\"left:60.0488em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_272\">25,099 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.3832em;top:26.3722em;\"><span class=\"stl_277 stl_08 stl_114\">(21,265) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_34\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:52.7201em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_162\">37 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4113em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:60.8988em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_162\">154 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9151em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:69.4126em;top:27.3941em;\"><span class=\"stl_277 stl_08 stl_631\">191 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">Financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3788em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_429\">297 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4113em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:61.6632em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:64.5169em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_332\">(7,314) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7557em;top:28.416em;\"><span class=\"stl_277 stl_08 stl_630\">(7,017) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6107em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_245\">27,994 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4113em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:60.3994em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_599\">5,282 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4794em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_250\">(5,871) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6088em;top:29.4378em;\"><span class=\"stl_277 stl_08 stl_302\">27,405 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:30.4597em;\"><span class=\"stl_277 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">Tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:31.2928em;\"><span class=\"stl_277 stl_08 stl_179\">forward \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2913em;top:31.2928em;\"><span class=\"stl_277 stl_08 stl_265\">361,516 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7863em;top:31.2928em;\"><span class=\"stl_277 stl_08 stl_523\">66,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.0807em;top:31.2928em;\"><span class=\"stl_277 stl_08 stl_490\">42,026 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9157em;top:31.2928em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.2451em;top:31.2928em;\"><span class=\"stl_277 stl_08 stl_225\">470,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:32.3147em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0313em;\">Not recognized tax asset \u00a0</span></div><div class=\"stl_01\" style=\"left:51.0469em;top:32.3147em;\"><span class=\"stl_277 stl_08 stl_136\">(472,739) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.6201em;top:32.3147em;\"><span class=\"stl_277 stl_08 stl_102\">(24,663) \u00a0</span></div><div class=\"stl_01\" style=\"left:59.5832em;top:32.3147em;\"><span class=\"stl_277 stl_08 stl_539\">(166,561) \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4082em;top:32.3147em;\"><span class=\"stl_277 stl_08 stl_633\">13,185 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0607em;top:32.3147em;\"><span class=\"stl_277 stl_08 stl_103\">(650,778) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:33.331em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0301em;\">Recognized deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9807em;top:34.1641em;\"><span class=\"stl_191 stl_15 stl_278\" style=\"word-spacing:-0.0363em;\">tax assets \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1519em;top:34.1641em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:57.4038em;top:34.1641em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:61.6557em;top:34.1641em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:65.9076em;top:34.1641em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.1595em;top:34.1641em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:10.2067em;\"><span class=\"stl_585 stl_15 stl_213\" style=\"word-spacing:-0.0329em;\">Deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:11.0454em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">Deferred tax assets relate to temporary differences \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:11.8786em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0343em;\">between the tax base and accounting carrying amount \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:12.7117em;\"><span class=\"stl_532 stl_08 stl_423\" style=\"word-spacing:-0.0367em;\">and tax losses carried forward. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:14.3786em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0355em;\">Deferred tax assets arising from temporary deductible \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:15.2117em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">differences and tax losses carried forward are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:16.0448em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">nized to the extent they are expected to be offset \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:16.8779em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">against future taxable income. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:18.5448em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">Recognized tax losses carried forward relate to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:19.3779em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Bavarian Nordic A/S and the two Danish subsidiaries \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:20.2111em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">Aktieselskabet af 1. juni 2011 I and Aktieselskabet af 1. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:21.0442em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">juni 2011 II regulated within Danish tax jurisdiction. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:22.7111em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">The tax value of non-recognized tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:23.5442em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">forward in Bavarian Nordic A/S and the two Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:24.3773em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">subsidiaries amounts to DKK 445.0 million (DKK 470.4 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:25.2104em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">million), whereas the tax value of non-recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:26.0436em;\"><span class=\"stl_532 stl_08 stl_199\" style=\"word-spacing:-0.037em;\">temporary deductible differences amounts to DKK 0 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:26.8767em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0225em;\">million (DKK 180.4 million). Tax rate used for Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:27.7098em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">entities is 22%. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:29.3767em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">The recognized deferred tax liability relates to Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:30.2098em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Nordic Berna GmbH, regulated within Swiss tax juris- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:31.0429em;\"><span class=\"stl_532 stl_08 stl_75\">diction. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:32.7098em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">The Company's right to use the tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7214em;top:33.5429em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0324em;\">forward is not time-limited. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:10.2042em;\"><span class=\"stl_585 stl_15 stl_16\" style=\"word-spacing:-0.0393em;\">Pillar II \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:11.0429em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">The Bavarian Nordic Group is not yet in scope of the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:11.8761em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0261em;\">Minimum Tax Act (Pillar II), as adopted by the Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:12.7092em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0283em;\">Parliament on December 7, 2023. If the group becomes \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:13.5423em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">covered by the Minimum Tax Act, no additional tax \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:14.3754em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">costs is expected for the Bavarian Nordic Group, based \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:15.2086em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">on the current group structure. It will result in a not \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:16.0417em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">insignificant compliance task for the Bavarian Nordic \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:16.8748em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Group if the group is unable to utilize the safe harbour \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7295em;top:17.7079em;\"><span class=\"stl_532 stl_08 stl_176\">rules. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2294": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_387\" style=\"word-spacing:0.0065em;\">Note 14 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_116\" style=\"word-spacing:0.0136em;\">Earnings per share (EPS) \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Earnings per share is calculated as the profit or loss \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0261em;\">for the year compared to the weighted average of the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">issued shares in the financial year. The basis for the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2049em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">calculation of diluted earnings per share is the weight- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0381em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">ed-average number of ordinary shares in the financial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8712em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">year adjusted for the dilutive effects of warrants. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.1411em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:64.737em;top:15.1354em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:15.1354em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.8254em;\"><span class=\"stl_277 stl_08 stl_40\" style=\"word-spacing:-0.0247em;\">Net result for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:63.6014em;top:16.8254em;\"><span class=\"stl_277 stl_08 stl_289\">1,475,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8808em;top:16.8254em;\"><span class=\"stl_277 stl_08 stl_542\">(347,382) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:17.8473em;\"><span class=\"stl_277 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">Earnings per share of DKK 10 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.0333em;top:17.8473em;\"><span class=\"stl_277 stl_08 stl_301\">19.2 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.1933em;top:17.8473em;\"><span class=\"stl_277 stl_08 stl_289\">(4.9) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:18.8692em;\"><span class=\"stl_277 stl_08 stl_43\" style=\"word-spacing:-0.0269em;\">Diluted earnings per share of DKK 10 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.0333em;top:18.8692em;\"><span class=\"stl_277 stl_08 stl_301\">19.2 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.1933em;top:18.8692em;\"><span class=\"stl_277 stl_08 stl_289\">(4.9) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.4948em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">The weighted average number of ordinary shares for the purpose of diluted \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:21.3279em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">earning per share reconciles to the weighted average number of ordinary shares \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:22.1611em;\"><span class=\"stl_277 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">used in the calculation of basic earnings per share as follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:23.5504em;\"><span class=\"stl_277 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Weighted average number of ordinary shares \u00a0</span></div><div class=\"stl_01\" style=\"left:63.1795em;top:23.5504em;\"><span class=\"stl_277 stl_08 stl_388\">76,860,003 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.4839em;top:23.5504em;\"><span class=\"stl_277 stl_08 stl_135\">70,547,859 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:24.5723em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">Weighted average number of treasury shares \u00a0</span></div><div class=\"stl_01\" style=\"left:63.6502em;top:24.5723em;\"><span class=\"stl_277 stl_08 stl_637\">(149,442) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8752em;top:24.5723em;\"><span class=\"stl_277 stl_08 stl_612\">(129,468) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:25.5886em;\"><span class=\"stl_191 stl_15 stl_248\" style=\"word-spacing:-0.0353em;\">Weighted average number of outstanding ordinary shares used in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:26.4217em;\"><span class=\"stl_191 stl_15 stl_69\" style=\"word-spacing:-0.0353em;\">the calculation of basic earnings per share \u00a0</span></div><div class=\"stl_01\" style=\"left:62.9958em;top:26.4217em;\"><span class=\"stl_191 stl_15 stl_589\">76,710,561 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2239em;top:26.4217em;\"><span class=\"stl_191 stl_15 stl_308\">70,418,391 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7377em;top:27.4436em;\"><span class=\"stl_191 stl_15 stl_248\" style=\"word-spacing:-0.0353em;\">Weighted average number of outstanding ordinary shares used in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7377em;top:28.2767em;\"><span class=\"stl_191 stl_15 stl_248\" style=\"word-spacing:-0.0354em;\">the calculation of diluted earnings per share \u00a0</span></div><div class=\"stl_01\" style=\"left:62.9952em;top:28.2767em;\"><span class=\"stl_191 stl_15 stl_589\">76,710,561 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2233em;top:28.2767em;\"><span class=\"stl_191 stl_15 stl_308\">70,418,391 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:29.9079em;\"><span class=\"stl_277 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">Outstanding warrants that may have an effect on the calculation of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:30.7411em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">diluted earnings per share in the future. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:32.1304em;\"><span class=\"stl_277 stl_08 stl_261\">2023-programs \u00a0</span></div><div class=\"stl_01\" style=\"left:63.492em;top:32.1304em;\"><span class=\"stl_277 stl_08 stl_389\">1,258,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1752em;top:32.1304em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7364em;top:33.1523em;\"><span class=\"stl_277 stl_08 stl_47\">2022-programs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.002em;top:33.1523em;\"><span class=\"stl_277 stl_08 stl_132\">992,310 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8127em;top:33.1523em;\"><span class=\"stl_277 stl_08 stl_339\">1,013,923 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7364em;top:34.1742em;\"><span class=\"stl_277 stl_08 stl_638\">2021-program \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0714em;top:34.1742em;\"><span class=\"stl_277 stl_08 stl_595\">651,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2952em;top:34.1742em;\"><span class=\"stl_277 stl_08 stl_539\">655,774 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7364em;top:35.1961em;\"><span class=\"stl_277 stl_08 stl_54\">2020-programs \u00a0</span></div><div class=\"stl_01\" style=\"left:63.6133em;top:35.1961em;\"><span class=\"stl_277 stl_08 stl_614\">1,105,219 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8958em;top:35.1961em;\"><span class=\"stl_277 stl_08 stl_544\">1,142,109 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:36.2179em;\"><span class=\"stl_277 stl_08 stl_216\">2019-program \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0395em;top:36.2179em;\"><span class=\"stl_277 stl_08 stl_306\">513,754 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2839em;top:36.2179em;\"><span class=\"stl_277 stl_08 stl_106\">599,493 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:37.2398em;\"><span class=\"stl_277 stl_08 stl_268\">2018-program \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9239em;top:37.2398em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.2664em;top:37.2398em;\"><span class=\"stl_277 stl_08 stl_286\">240,708 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:38.2561em;\"><span class=\"stl_191 stl_15 stl_193\" style=\"word-spacing:-0.0349em;\">Outstanding warrants, cf. note 30 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3227em;top:38.2561em;\"><span class=\"stl_191 stl_15 stl_98\">4,520,915 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5383em;top:38.2561em;\"><span class=\"stl_191 stl_15 stl_562\">3,652,007 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2302": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_131\" style=\"word-spacing:0.0025em;\">Note 15 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_98\" style=\"word-spacing:0.0079em;\">Intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_640 stl_08 stl_110\" style=\"word-spacing:-0.0303em;\">Intangible assets are measured at historic cost less accumu- \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:12.0389em;\"><span class=\"stl_640 stl_08 stl_324\" style=\"word-spacing:-0.033em;\">lated amortization and impairment losses. Cost of acquired \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:12.872em;\"><span class=\"stl_640 stl_08 stl_334\" style=\"word-spacing:-0.0316em;\">product rights are measured at cash consideration and \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:13.7051em;\"><span class=\"stl_640 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">present value of any deferred payments for those rights. \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:14.5383em;\"><span class=\"stl_640 stl_08 stl_341\" style=\"word-spacing:-0.0339em;\">Furthermore costs of acquired product rights include trans- \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:15.3722em;\"><span class=\"stl_640 stl_08 stl_537\" style=\"word-spacing:-0.0322em;\">action costs that are directly attributable to the acqusition. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.0389em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Internal development projects that meet the require- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.872em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">ments for recognition as intangible assets are meas- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.7051em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">ured at direct cost relating to the development projects. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.372em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Amortization is provided on a straight-line basis over \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.2051em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">the useful economic lives of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:22.872em;\"><span class=\"stl_532 stl_08 stl_125\" style=\"word-spacing:-0.03em;\">The useful lives of acquired product rights are estimated to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.7051em;\"><span class=\"stl_532 stl_08 stl_420\" style=\"word-spacing:-0.0249em;\">be 10-20 years and software is estimated to be 3-5 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.372em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">Amortization of acquired product rights is recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.2051em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">part of cost of goods sold under production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.8651em;\"><span class=\"stl_600 stl_496 stl_443\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.7051em;\"><span class=\"stl_532 stl_08 stl_142\" style=\"word-spacing:-0.0364em;\">The carrying amounts of intangible assets carried at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:29.5383em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">cost or amortized cost are tested at least annually to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:30.3714em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">determine whether there are indications of any impair- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:31.2045em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">ment in excess of that expressed in normal amortiza- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.0376em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">tion. If that is the case, the asset is written down to the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.8708em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0335em;\">recoverable amount, which is the higher of its fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:33.7039em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">less costs to sell and its value in use. Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:34.537em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">on intangible assets are recognized under the same \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:35.3701em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">line item as amortization of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:37.037em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">For development projects in progress, the recoverable \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:37.8701em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">amount is assessed annually, regardless of whether any \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:38.7033em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">indications of impairment have been found. \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3141em;top:10.3531em;\"><span class=\"stl_517 stl_15 stl_217\" style=\"word-spacing:-0.0239em;\">Key accounting estimates \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:11.3943em;\"><span class=\"stl_585 stl_15 stl_441\" style=\"word-spacing:-0.0378em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:12.2331em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">When determining the amortization period for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:13.0662em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">acquired product rights, Management need to make \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:13.8993em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">an assessment of expected useful economic life. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:14.7324em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">In the assessment Management take among other \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:15.5656em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">things the following components into consideration: \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:16.3987em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">The maturity of the products acquired, development \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:17.2318em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">in the market the acquired products are targeting, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:18.0649em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">the current competitors, clinical development of new \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:18.8981em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">competing products and entry barriers to the market \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:19.7312em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">due to advanced production technology. Straight-line \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:20.5643em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">amortization reflects the use and impairment of the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:21.3974em;\"><span class=\"stl_532 stl_08 stl_215\" style=\"word-spacing:-0.0385em;\">product rights. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:23.0643em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0323em;\">Management continuously updates the valuation model \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:23.8974em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">used when acquiring the product rights from GSK to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:24.7306em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">assess the value creation expected from the acquisi- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:25.5637em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">tion. The latest update of the valuation model shows \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:26.3968em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">a value above the net present value of the purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:27.2299em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">price, hence there is no indications of impairment. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:28.8968em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">As per December 31, 2022 Management still judge that \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:29.7299em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0354em;\">the sales milestone of EUR 25 million included in Asset \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:30.5631em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Purchase Agreement is not probable and therefore the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:31.3962em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">present value has not been added to the cost of the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:32.2293em;\"><span class=\"stl_532 stl_08 stl_215\" style=\"word-spacing:-0.0385em;\">product rights. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.3324em;top:10.3531em;\"><span class=\"stl_517 stl_15 stl_55\" style=\"word-spacing:-0.0273em;\">Key accounting judgments \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.3999em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Management has made the following accounting judg- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.2331em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">ments which significantly affect the amounts recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.0662em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">nized in the consolidated financial statements: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.7274em;\"><span class=\"stl_585 stl_15 stl_334\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.5662em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0247em;\">Under the Group\u2019s accounting policies and in accordance \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.3993em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">with common industry practice, development costs are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.2324em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">generally expensed in the year they occur. During the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.0656em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">development of ABNCoV2, the Group has, however, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.8987em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">started capitalization of directly related development \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.7318em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">cost at commencement of the phase 2 and 3 studies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.5649em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">as \u2013 unlike most other development candidates - the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.3981em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">feasibility of developing a final vaccine and obtain \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.2312em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0273em;\">regulatory approval is considered highly likely. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.3981em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">Following the Phase 3 results announced in August, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.2312em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">where ABNCoV2 demonstrated a reduced level of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.0643em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">neutralizing antibodies against a circulating variant, the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.8974em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">asset no longer represented a commercial opportunity \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.7306em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">for Bavarian Nordic as the regulators, EMA and FDA, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.5637em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0234em;\">could not accept a submission for licensure. Therefore, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.3968em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">Management decided to fully write-down all assets \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.2299em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">and liabilities related to the development program. The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.0631em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">impact on the financials for 2023 is shown in note 32. \u00a0</span></div><div class=\"stl_01\" style=\"left:41.345em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.6694em;top:11.4182em;\"><span class=\"stl_191 stl_15 stl_18\">Acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:47.0531em;top:11.4182em;\"><span class=\"stl_191 stl_15 stl_19\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:36.2744em;top:12.1682em;\"><span class=\"stl_191 stl_15 stl_385\" style=\"word-spacing:-0.04em;\">rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6713em;top:12.1682em;\"><span class=\"stl_191 stl_15 stl_443\">intangible \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2694em;top:12.9182em;\"><span class=\"stl_191 stl_15 stl_280\" style=\"word-spacing:1.0869em;\">Product development \u00a0</span></div><div class=\"stl_01\" style=\"left:46.1388em;top:12.9182em;\"><span class=\"stl_191 stl_15 stl_200\" style=\"word-spacing:-0.034em;\">assets in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.6738em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:32.8013em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_340\">rights \u00a0</span></div><div class=\"stl_01\" style=\"left:36.0106em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_34\" style=\"word-spacing:-0.029em;\">in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:41.32em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_441\">Software \u00a0</span></div><div class=\"stl_01\" style=\"left:46.1775em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_55\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9781em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_59\" style=\"word-spacing:-0.024em;\">Costs as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8569em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_611\">5,458,700 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.6025em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_95\">1,013,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.79em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_324\">106,094 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5488em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_138\">274,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.76em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_303\">6,852,768 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_221\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2719em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:37.1175em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_315\">389,751 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4644em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_224\">3,034 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5556em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_151\">143,978 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2444em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_511\">536,758 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_72\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2719em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9963em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.4519em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_422\">2,353 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.985em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_100\">(2,353) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1694em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3519em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_187\">449,577 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.575em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_430\">1,286,778 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4513em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_227\">4,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2125em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_628\">1,212 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8425em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_641\">1,741,779 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2719em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9963em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.2531em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_224\">(1,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.445em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.7019em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_224\">(1,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:20.4675em;\"><span class=\"stl_277 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2719em;top:20.4675em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9963em;top:20.4675em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.9475em;top:20.4675em;\"><span class=\"stl_277 stl_08 stl_169\">497 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.1606em;top:20.4675em;\"><span class=\"stl_277 stl_08 stl_642\">(1) \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3888em;top:20.4675em;\"><span class=\"stl_277 stl_08 stl_429\">496 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:21.4838em;\"><span class=\"stl_191 stl_15 stl_268\" style=\"word-spacing:-0.016em;\">Cost as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6163em;top:21.4838em;\"><span class=\"stl_191 stl_15 stl_403\">5,908,277 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3863em;top:21.4838em;\"><span class=\"stl_191 stl_15 stl_390\">2,690,013 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.675em;top:21.4838em;\"><span class=\"stl_191 stl_15 stl_275\">114,958 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4413em;top:21.4838em;\"><span class=\"stl_191 stl_15 stl_643\">417,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6688em;top:21.4838em;\"><span class=\"stl_191 stl_15 stl_579\">9,130,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">Amortization and impairment losses as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3444em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_422\">818,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9969em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.1525em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_154\">91,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4456em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.3469em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_645\">910,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_340\">Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3388em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_342\">298,030 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9969em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.1488em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_138\">12,028 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4463em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2706em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_152\">310,058 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2731em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.5813em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_611\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.7219em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:46.85em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_24\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7706em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_608\">1,429,488 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.1807em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2725em;top:26.1807em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9969em;top:26.1807em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.4125em;top:26.1807em;\"><span class=\"stl_277 stl_08 stl_646\">(1,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4456em;top:26.1807em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.8613em;top:26.1807em;\"><span class=\"stl_277 stl_08 stl_646\">(1,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.2025em;\"><span class=\"stl_277 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2725em;top:27.2025em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9969em;top:27.2025em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.9363em;top:27.2025em;\"><span class=\"stl_277 stl_08 stl_268\">272 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4463em;top:27.2025em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.3856em;top:27.2025em;\"><span class=\"stl_277 stl_08 stl_268\">272 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.2188em;\"><span class=\"stl_191 stl_15 stl_63\" style=\"word-spacing:-0.0301em;\">Amortization and impairment losses as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.7425em;top:28.2188em;\"><span class=\"stl_191 stl_15 stl_647\">1,116,835 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3644em;top:28.2188em;\"><span class=\"stl_191 stl_15 stl_455\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.67em;top:28.2188em;\"><span class=\"stl_191 stl_15 stl_154\">102,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6963em;top:28.2188em;\"><span class=\"stl_191 stl_15 stl_233\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.4913em;top:28.2188em;\"><span class=\"stl_191 stl_15 stl_160\">2,648,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.8444em;\"><span class=\"stl_191 stl_15 stl_33\" style=\"word-spacing:-0.0274em;\">Carrying amount as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6475em;top:29.8444em;\"><span class=\"stl_191 stl_15 stl_422\">4,791,442 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.4119em;top:29.8444em;\"><span class=\"stl_191 stl_15 stl_152\">1,286,749 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9719em;top:29.8444em;\"><span class=\"stl_191 stl_15 stl_233\">12,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4463em;top:29.8444em;\"><span class=\"stl_191 stl_15 stl_294\">391,102 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5331em;top:29.8444em;\"><span class=\"stl_191 stl_15 stl_573\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.47em;\"><span class=\"stl_191 stl_15 stl_360\" style=\"word-spacing:-0.033em;\">Geographical split of intangible assets \u2013 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.4975em;\"><span class=\"stl_277 stl_08 stl_215\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8413em;top:32.4975em;\"><span class=\"stl_277 stl_08 stl_625\">6,475,179 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5194em;\"><span class=\"stl_277 stl_08 stl_374\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:52.4056em;top:33.5194em;\"><span class=\"stl_277 stl_08 stl_155\">270 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.5413em;\"><span class=\"stl_277 stl_08 stl_63\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:51.89em;top:34.5413em;\"><span class=\"stl_277 stl_08 stl_333\">2,005 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.5632em;\"><span class=\"stl_277 stl_08 stl_43\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8981em;top:35.5632em;\"><span class=\"stl_277 stl_08 stl_420\">4,282 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.5794em;\"><span class=\"stl_191 stl_15 stl_192\" style=\"word-spacing:-0.0327em;\">Total intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5331em;top:36.5794em;\"><span class=\"stl_191 stl_15 stl_573\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:10.2094em;\"><span class=\"stl_585 stl_15 stl_441\" style=\"word-spacing:-0.0378em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:11.0482em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">December 31, 2019 the Company acquired the product \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:11.8813em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">rights to two commercial products owned by GSK \u2013 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:12.7144em;\"><span class=\"stl_532 stl_08 stl_218\" style=\"word-spacing:-0.0208em;\">Rabipur/RabAvert and Encepur. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:14.3813em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">The products have been on the market for more than \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:15.2144em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">20 years. There is no need to further develop the prod- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:16.0475em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">ucts. Management assesses that it will require up to 10 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:16.8807em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">years of clinical development for competitors to bring \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:17.7138em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">a new competing product to the market likewise the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:18.5469em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">production process required to produce these products \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:19.38em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">is highly complex. Based on these factors Management \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:20.2132em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">assesses that the acquired product rights should be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:21.0463em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">amortized over 20 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:22.7132em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">The acquisition price for the two product rights consists \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:23.5463em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">of the upfront payment and the present value of the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:24.3794em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">milestone payments included in the Asset Purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:25.2125em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Agreement with GSK. The milestone payments relate to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:26.0457em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0313em;\">transfer and re-registration of marketing authorizations, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:26.8788em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">technology transfer of different steps of the produc- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:27.7119em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">tion and packaging activities as well as a milestone \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:28.545em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">payment when all services agreed to be rendered has \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:29.3782em;z-index:2275;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">been completed. The Asset Purchase Agreement spe</span><span class=\"stl_532 stl_08 stl_644\">c</span><span class=\"stl_532 stl_08 stl_644\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:30.2113em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">ifies the above milestone payments for each product. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:31.0444em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">In total EUR 470 million. The Asset Purchase Agreement \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:31.8775em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">also includes a sales milestone of EUR 25 million. The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:32.7107em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">sales milestone is related to the total revenue of the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:33.5438em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">two products. Management deems it unlikely that the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:34.3769em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">sales milestone will be trickered, hence the sales mile- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:35.21em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">stone has not been recognized as part of the asset nor \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:36.0432em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">the deferred consideration as per December 31, 2021. \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5182em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.4532em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_76\" style=\"word-spacing:-0.0425em;\">Carrying amount \u00a0</span></div><div class=\"stl_01\" style=\"left:33.2495em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_199\">Remaining \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:12.2289em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:17.5826em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_21\" style=\"word-spacing:-0.0322em;\">Acquistion price \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7776em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_572\" style=\"word-spacing:-0.0127em;\">December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5976em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_340\" style=\"word-spacing:-0.0396em;\">amortization period \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:13.9133em;\"><span class=\"stl_277 stl_08 stl_377\">Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:19.6289em;top:13.9133em;\"><span class=\"stl_277 stl_08 stl_312\">3,140,250 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6551em;top:13.9133em;\"><span class=\"stl_277 stl_08 stl_430\">2,512,200 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.127em;top:13.9133em;\"><span class=\"stl_277 stl_08 stl_366\" style=\"word-spacing:-0.0052em;\">16 years \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_34\">Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:19.5807em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_426\">2,318,450 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6795em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_490\">1,854,760 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.127em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_366\" style=\"word-spacing:-0.0052em;\">16 years \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_35\">Vivotif \u00a0</span></div><div class=\"stl_01\" style=\"left:20.0707em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_169\">312,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1632em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_358\">291,357 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.9732em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_324\" style=\"word-spacing:-0.003em;\">9.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_58\">Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:20.1351em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_369\">137,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.2407em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_579\">133,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.6626em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_99\" style=\"word-spacing:0.006em;\">19.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_360\" style=\"word-spacing:-0.0331em;\">Total product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:26.4507em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_422\">4,791,442 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0512em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Deferred consideration for the acquired product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8843em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">are described in note 24. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5512em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">In May 2023, the Company concluded a Purchase and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3843em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">Sale Agreement with Emergent BioSolutions. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.2175em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">agreement included acquisition of product rights to two \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.0506em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">commercial travel vaccines \u2013 Vivotif and Vaxchora. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.7175em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">Vivotif and Vaxchora were first licensed in the US in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.5506em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0249em;\">1989 and 2016 respectively. Vaccines have historically \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.3837em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">shown to have a long lifespan due to stringent regu- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.2168em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">latory requirements, high research and development \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.05em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">costs and a complex manufacturing process. Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8831em;\"><span class=\"stl_532 stl_08 stl_59\" style=\"word-spacing:-0.024em;\">is targeting a market that has a relatively low market \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.7162em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">value, which further lowers the chance of competitors \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5493em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">entering the market and taking significant market \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.3825em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">shares. Based on these factors Management assesses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.2156em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0345em;\">that the Vaxchora product right should be amortized \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.0487em;\"><span class=\"stl_532 stl_08 stl_64\" style=\"word-spacing:-0.02em;\">over 20 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.0487em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Vivotif was developed more than 30 years ago and the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8818em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">market is larger than for Vaxchora. Therefore, the risk of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.715em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">competition is also deemed higher, hence the amorti- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.5481em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">zation period is assessed to be 10 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.215em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">The acquisition price for the two product rights consists \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.0481em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">of an upfront payment of DKK 312 million for Vivotif and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.8812em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">DKK 137 million for Vaxchora. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.5481em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">The Purchase and Sale Agreement also includes \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.3812em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">an earnout payment starting at USD 30 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.2143em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">The earnout payment relates to sale of Vivotif and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.0475em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">Vaxchora. As per December 31, 2023 Management does \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.8806em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">not judge the sales milestone to be probable and there- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.7137em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">fore the earnout payment has not been recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.5468em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">either part of the project rights nor the deferred consid- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.38em;\"><span class=\"stl_532 stl_08 stl_213\">eration. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:10.2087em;\"><span class=\"stl_585 stl_15 stl_334\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.0474em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.8806em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Emergent BioSolutions included acquisition of a late- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.7137em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">stage vaccine candidate for chikungunya virus. The \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:13.5468em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">initial acquisition price amounted to DKK 788 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:14.3799em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">The Company will complete the Phase 3 study and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:15.2131em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">submit for approval. No further cost will be capitalized. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:16.8799em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">The agreement with Emergent BioSolutions also \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.7131em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">included milestone payments totaling USD 80 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:18.5462em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">related to submission and approval of Biologics License \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:19.3793em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">Application (BLA) to FDA and Marketing Authorization \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:20.2124em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">Application to EMA for the chikungunya development \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:21.0456em;\"><span class=\"stl_532 stl_08 stl_58\">asset. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:22.7124em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">At initial recognition the net present value of probable \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:23.5456em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">future development milestone payments to Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:24.3787em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">BioSolutions amounted to DKK 499 million and was \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:25.2118em;\"><span class=\"stl_532 stl_08 stl_84\" style=\"word-spacing:-0.0221em;\">recognized as deferred consideration (note 24). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:26.8731em;\"><span class=\"stl_585 stl_15 stl_159\" style=\"word-spacing:-0.0345em;\">Write-down of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.7118em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">See note 32 for a summarized income statement and a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:28.5449em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">summarized financial position showing how the write- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:29.3781em;\"><span class=\"stl_532 stl_08 stl_142\" style=\"word-spacing:-0.0365em;\">down has impacted the Annual Report. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:10.2056em;\"><span class=\"stl_585 stl_15 stl_200\" style=\"word-spacing:-0.0339em;\">Intangible assets in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:11.0443em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">The as-is technology transfer from GSK to Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:11.8774em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">Nordic of the manufacturing process for Rabipur/ \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:12.7106em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">RabAvert and Encepur is progressing as expected. The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:13.5437em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">transfer has taken place in a staged process, starting \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:14.3768em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0342em;\">with packaging then filling and ending with the transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:15.2099em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">of bulk manufacturing. The Company has incurred \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:16.0431em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">material costs in terms of internal labour and consul- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:16.8762em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0345em;\">tancy to handle the technology transfer and has gained \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:17.7093em;\"><span class=\"stl_532 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">crucial knowledge about the manufacturing process. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:18.5424em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">These costs are capitalized as an intangible asset. As \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:19.3756em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">per December 31, 2022 the capitalized costs amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:20.2087em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">to DKK 255.3 million (DKK 255.3 million), recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:21.0418em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">intangible assets in progress. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:22.7087em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0263em;\">Other intable assets in progress relates to IT invest- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:23.5418em;\"><span class=\"stl_532 stl_08 stl_69\">ments. \u00a0</span></div><div class=\"stl_01\" style=\"left:41.344em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.6696em;top:11.4182em;\"><span class=\"stl_191 stl_15 stl_18\">Acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:47.054em;top:11.4182em;\"><span class=\"stl_191 stl_15 stl_19\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:36.2746em;top:12.1682em;\"><span class=\"stl_191 stl_15 stl_385\" style=\"word-spacing:-0.04em;\">rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6721em;top:12.1682em;\"><span class=\"stl_191 stl_15 stl_443\">intangible \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2696em;top:12.9182em;\"><span class=\"stl_191 stl_15 stl_280\" style=\"word-spacing:1.0869em;\">Product development \u00a0</span></div><div class=\"stl_01\" style=\"left:46.139em;top:12.9182em;\"><span class=\"stl_191 stl_15 stl_200\" style=\"word-spacing:-0.034em;\">assets in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:13.6738em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:32.8015em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_340\">rights \u00a0</span></div><div class=\"stl_01\" style=\"left:36.0115em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_34\" style=\"word-spacing:-0.029em;\">in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3209em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_441\">Software \u00a0</span></div><div class=\"stl_01\" style=\"left:46.1777em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_55\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9784em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_38\" style=\"word-spacing:-0.0245em;\">Costs as of January 1, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8571em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_611\">5,458,700 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.074em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_117\">733,770 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7877em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_420\">100,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.534em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_224\">134,371 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7921em;top:15.3582em;\"><span class=\"stl_277 stl_08 stl_97\">6,427,226 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_221\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:37.1427em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_648\">279,714 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4421em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_320\">3,006 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5459em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_116\">142,691 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2846em;top:16.38em;\"><span class=\"stl_277 stl_08 stl_167\">425,411 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_72\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9971em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.4327em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_411\">2,572 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.9609em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_422\">(2,572) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1702em;top:17.4019em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.724em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9971em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:43.7215em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.4459em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:53.1702em;top:18.4238em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.724em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9971em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.9752em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_379\">131 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4459em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.424em;top:19.4457em;\"><span class=\"stl_277 stl_08 stl_379\">131 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7234em;top:20.4619em;\"><span class=\"stl_191 stl_15 stl_181\" style=\"word-spacing:-0.0164em;\">Cost as of December 31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6352em;top:20.4619em;\"><span class=\"stl_191 stl_15 stl_305\">5,458,700 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3821em;top:20.4619em;\"><span class=\"stl_191 stl_15 stl_446\">1,013,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6228em;top:20.4619em;\"><span class=\"stl_191 stl_15 stl_70\">106,094 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3715em;top:20.4619em;\"><span class=\"stl_191 stl_15 stl_228\">274,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5477em;top:20.4619em;\"><span class=\"stl_191 stl_15 stl_611\">6,852,768 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:22.0932em;\"><span class=\"stl_277 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">Amortization as of January 1, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3477em;top:22.0932em;\"><span class=\"stl_277 stl_08 stl_599\">545,870 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9959em;top:22.0932em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.1346em;top:22.0932em;z-index:655;\"><span class=\"stl_277 stl_08 stl_372\">7</span><span class=\"stl_277 stl_08 stl_331\">7</span><span class=\"stl_277 stl_08 stl_51\">,400 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4446em;top:22.0932em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2477em;top:22.0932em;\"><span class=\"stl_277 stl_08 stl_132\">623,270 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_340\">Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3509em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_187\">272,935 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9959em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.1352em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_608\">13,908 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4446em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.214em;top:23.115em;\"><span class=\"stl_277 stl_08 stl_419\">286,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2715em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9959em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:43.7202em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.4446em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:53.169em;top:24.1369em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2715em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9959em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:43.2915em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_317\">18 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4446em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.7402em;top:25.1588em;\"><span class=\"stl_277 stl_08 stl_317\">18 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:26.175em;\"><span class=\"stl_191 stl_15 stl_52\" style=\"word-spacing:-0.0265em;\">Amortization as of December 31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.1815em;top:26.175em;\"><span class=\"stl_191 stl_15 stl_325\">818,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9884em;top:26.175em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.0084em;top:26.175em;\"><span class=\"stl_191 stl_15 stl_137\">91,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4371em;top:26.175em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.1771em;top:26.175em;\"><span class=\"stl_191 stl_15 stl_382\">910,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:27.8007em;\"><span class=\"stl_191 stl_15 stl_44\" style=\"word-spacing:-0.0276em;\">Carrying amount as of December 31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6552em;top:27.8007em;\"><span class=\"stl_191 stl_15 stl_172\">4,639,895 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3809em;top:27.8007em;\"><span class=\"stl_191 stl_15 stl_446\">1,013,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0177em;top:27.8007em;\"><span class=\"stl_191 stl_15 stl_133\">14,768 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3709em;top:27.8007em;\"><span class=\"stl_191 stl_15 stl_228\">274,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5465em;top:27.8007em;\"><span class=\"stl_191 stl_15 stl_173\">5,942,637 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:29.4263em;\"><span class=\"stl_191 stl_15 stl_386\" style=\"word-spacing:-0.0332em;\">Geographical split of intangible assets \u2013 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:30.4538em;\"><span class=\"stl_277 stl_08 stl_215\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7696em;top:30.4538em;\"><span class=\"stl_277 stl_08 stl_608\">5,941,664 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:31.4757em;\"><span class=\"stl_277 stl_08 stl_374\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1684em;top:31.4757em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:32.4976em;\"><span class=\"stl_277 stl_08 stl_63\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3809em;top:32.4976em;\"><span class=\"stl_277 stl_08 stl_64\">973 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:33.5138em;\"><span class=\"stl_191 stl_15 stl_192\" style=\"word-spacing:-0.0327em;\">Total intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5465em;top:33.5138em;\"><span class=\"stl_191 stl_15 stl_173\">5,942,637 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:10.2189em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">Other intangible assets in progress include investments \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0347em;\">in software. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_224\" style=\"word-spacing:0.0075em;\">Note 32 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_102\" style=\"word-spacing:0.0086em;\">Impact from write-down of ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:10.2189em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">Following the Phase 3 results announced in August, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">where ABNCoV2 demonstrated a reduced level of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">neutralizing antibodies against a circulating variant, the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">asset no longer represented a commercial opportunity \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:10.2183em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">for Bavarian Nordic and therefore Management decided \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:11.0514em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0283em;\">to fully write-down all assets and liabilities related to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:11.8845em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">the development program. \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3311em;top:14.9821em;\"><span class=\"stl_191 stl_15 stl_344\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2523em;top:14.9821em;\"><span class=\"stl_191 stl_15 stl_344\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:23.4661em;top:15.7321em;\"><span class=\"stl_191 stl_15 stl_334\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3873em;top:15.7321em;\"><span class=\"stl_191 stl_15 stl_334\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7611em;top:16.4821em;\"><span class=\"stl_191 stl_15 stl_385\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8073em;top:16.4821em;\"><span class=\"stl_191 stl_15 stl_192\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5523em;top:16.4821em;\"><span class=\"stl_191 stl_15 stl_423\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:17.2377em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:23.063em;top:17.2321em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0236em;top:17.2321em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9836em;top:17.2321em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_36\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8367em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_358\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1961em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.758em;top:18.9221em;\"><span class=\"stl_277 stl_08 stl_358\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8461em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_112\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1961em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.7673em;top:19.944em;\"><span class=\"stl_277 stl_08 stl_112\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_41\" style=\"word-spacing:-0.0253em;\">Gross Profit \u00a0</span></div><div class=\"stl_01\" style=\"left:23.5823em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_403\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1886em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.5036em;top:20.9602em;\"><span class=\"stl_191 stl_15 stl_403\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_248\" style=\"word-spacing:-0.0354em;\">- Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3367em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_125\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1967em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.258em;top:21.9877em;\"><span class=\"stl_277 stl_08 stl_125\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">- Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7805em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_364\">2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.308em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_343\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7667em;top:23.0096em;\"><span class=\"stl_277 stl_08 stl_346\">1,670,397 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.718em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">- Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.2667em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_261\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1961em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.188em;top:24.0315em;\"><span class=\"stl_277 stl_08 stl_261\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.718em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_82\" style=\"word-spacing:-0.0297em;\">Total operating costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6523em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_97\">3,100,507 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.1442em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_106\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4948em;top:25.0477em;\"><span class=\"stl_191 stl_15 stl_411\">2,542,824 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.718em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_221\" style=\"word-spacing:-0.0312em;\">Income before interest and tax (EBIT) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6123em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_298\">1,502,539 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9386em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_714\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4911em;top:26.6665em;\"><span class=\"stl_191 stl_15 stl_81\">2,060,222 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_189\">EBITDA \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6067em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_672\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1892em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.528em;top:27.6884em;\"><span class=\"stl_191 stl_15 stl_672\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7186em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_61\" style=\"word-spacing:-0.0307em;\">Net result for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6836em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_549\">1,475,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9386em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_714\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5136em;top:29.3071em;\"><span class=\"stl_191 stl_15 stl_528\">2,032,872 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.9014em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_423\">Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8227em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_423\">Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:58.1127em;top:11.0239em;\"><span class=\"stl_191 stl_15 stl_248\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0339em;top:11.0239em;\"><span class=\"stl_191 stl_15 stl_248\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7814em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_385\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:62.8277em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_192\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5733em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_423\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.5295em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0833em;top:12.5239em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:62.0439em;top:12.5239em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:67.0045em;top:12.5239em;\"><span class=\"stl_191 stl_15 stl_75\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:14.2139em;\"><span class=\"stl_277 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">Intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8364em;top:14.2139em;\"><span class=\"stl_277 stl_08 stl_430\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.8177em;top:14.2139em;\"><span class=\"stl_277 stl_08 stl_608\">1,429,488 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8614em;top:14.2139em;\"><span class=\"stl_277 stl_08 stl_552\">7,911,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:15.2358em;\"><span class=\"stl_277 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">Property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:57.9202em;top:15.2358em;\"><span class=\"stl_277 stl_08 stl_631\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2171em;top:15.2358em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.8414em;top:15.2358em;\"><span class=\"stl_277 stl_08 stl_631\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:16.2577em;\"><span class=\"stl_277 stl_08 stl_178\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:58.4264em;top:16.2577em;\"><span class=\"stl_277 stl_08 stl_317\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2171em;top:16.2577em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.3477em;top:16.2577em;\"><span class=\"stl_277 stl_08 stl_317\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:17.2795em;\"><span class=\"stl_277 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">Financial assets \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7483em;top:17.2795em;\"><span class=\"stl_277 stl_08 stl_671\">15,741 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3395em;top:17.2795em;\"><span class=\"stl_277 stl_08 stl_297\">235,711 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2739em;top:17.2795em;\"><span class=\"stl_277 stl_08 stl_148\">251,452 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:18.2958em;\"><span class=\"stl_191 stl_15 stl_213\" style=\"word-spacing:-0.0328em;\">Total non-current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7033em;top:18.2958em;\"><span class=\"stl_191 stl_15 stl_535\">8,950,162 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6452em;top:18.2958em;\"><span class=\"stl_191 stl_15 stl_292\">1,665,199 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2452em;top:18.2958em;\"><span class=\"stl_191 stl_15 stl_152\">10,615,361 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:19.9202em;\"><span class=\"stl_277 stl_08 stl_41\">Inventories \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8439em;top:19.9202em;\"><span class=\"stl_277 stl_08 stl_446\">1,643,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2171em;top:19.9202em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.7652em;top:19.9202em;\"><span class=\"stl_277 stl_08 stl_599\">1,643,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:20.942em;\"><span class=\"stl_277 stl_08 stl_34\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8446em;top:20.942em;\"><span class=\"stl_277 stl_08 stl_303\">1,891,834 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.2596em;top:20.942em;\"><span class=\"stl_277 stl_08 stl_307\">220,840 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8896em;top:20.942em;\"><span class=\"stl_277 stl_08 stl_634\">2,112,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:21.9639em;\"><span class=\"stl_277 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">Securities, cash and cash equivalents \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8789em;top:21.9639em;\"><span class=\"stl_277 stl_08 stl_589\">1,867,481 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2171em;top:21.9639em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.8002em;top:21.9639em;\"><span class=\"stl_277 stl_08 stl_589\">1,867,481 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:22.9802em;\"><span class=\"stl_191 stl_15 stl_52\" style=\"word-spacing:-0.0264em;\">Total current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6383em;top:22.9802em;\"><span class=\"stl_191 stl_15 stl_117\">5,403,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.1014em;top:22.9802em;\"><span class=\"stl_191 stl_15 stl_268\">220,840 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5496em;top:22.9802em;\"><span class=\"stl_191 stl_15 stl_672\">5,623,891 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:24.5989em;\"><span class=\"stl_191 stl_15 stl_38\" style=\"word-spacing:-0.0244em;\">Total assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.3183em;top:24.5989em;\"><span class=\"stl_191 stl_15 stl_147\">14,353,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5814em;top:24.5989em;\"><span class=\"stl_191 stl_15 stl_366\">1,886,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2308em;top:24.5989em;\"><span class=\"stl_191 stl_15 stl_95\">16,239,252 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:26.2233em;\"><span class=\"stl_277 stl_08 stl_340\">Equity \u00a0</span></div><div class=\"stl_01\" style=\"left:57.5908em;top:26.2233em;\"><span class=\"stl_277 stl_08 stl_558\">10,339,932 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3289em;top:26.2233em;\"><span class=\"stl_277 stl_08 stl_343\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5296em;top:26.2233em;\"><span class=\"stl_277 stl_08 stl_413\">10,897,615 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:27.2452em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8533em;top:27.2452em;\"><span class=\"stl_277 stl_08 stl_373\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3208em;top:27.2452em;\"><span class=\"stl_277 stl_08 stl_155\">521,936 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7389em;top:27.2452em;\"><span class=\"stl_277 stl_08 stl_414\">2,898,925 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:28.267em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">Other non-current liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:58.3095em;top:28.267em;\"><span class=\"stl_277 stl_08 stl_320\">208,556 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.2664em;top:28.267em;\"><span class=\"stl_277 stl_08 stl_572\">806,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8345em;top:28.267em;\"><span class=\"stl_277 stl_08 stl_669\">1,014,976 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:29.2889em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">Other current liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8983em;top:29.2889em;\"><span class=\"stl_277 stl_08 stl_302\">1,427,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2164em;top:29.2889em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.8195em;top:29.2889em;\"><span class=\"stl_277 stl_08 stl_652\">1,427,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:30.3052em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0348em;\">Total equity and liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:57.3177em;top:30.3052em;\"><span class=\"stl_191 stl_15 stl_147\">14,353,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5808em;top:30.3052em;\"><span class=\"stl_191 stl_15 stl_366\">1,886,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2302em;top:30.3052em;\"><span class=\"stl_191 stl_15 stl_95\">16,239,252 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2133em;\"><span class=\"stl_585 stl_15 stl_179\" style=\"word-spacing:-0.0345em;\">Write-down of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">The net write-down of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">amounted to DKK 558 million and consisted of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">following components: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3852em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:14.3783em;\"><span class=\"stl_600 stl_496 stl_46\" style=\"word-spacing:-0.0351em;\">Intangible assets DKK 1,429 million: </span><span class=\"stl_532 stl_08 stl_441\" style=\"word-spacing:-0.0378em;\">Included the \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:15.2183em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">upfront payment to AdaptVac of DKK 33 million, the \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:16.0514em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">net present value of probable future sales/devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:16.8845em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">opment milestones DKK 596 million, capitalized \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:17.7177em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">development costs for running Phase 2 study and \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:18.5508em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">Phase 3 study DKK 774 million and DKK 26 million in \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:19.3839em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">capitalized scale-up activities in Kvistgaard. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0508em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:21.0439em;\"><span class=\"stl_600 stl_496 stl_278\" style=\"word-spacing:-0.0346em;\">Financial assets DKK 236 million: </span><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Incurred cost for \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:21.8839em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">scale-up activities at the CMO for preparation for \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:22.717em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">commercial launch. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.217em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:10.2102em;\"><span class=\"stl_600 stl_496 stl_393\" style=\"word-spacing:-0.0339em;\">Receivables DKK 221 million: </span><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0273em;\">Commercial batches \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:11.0502em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">produced at CMO as part of the process qualification \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:11.8833em;\"><span class=\"stl_532 stl_08 stl_178\">process. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5502em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:13.5433em;\"><span class=\"stl_600 stl_496 stl_344\" style=\"word-spacing:-0.0331em;\">Deferred consideration DKK 522 million: </span><span class=\"stl_532 stl_08 stl_716\" style=\"word-spacing:-0.059em;\">As part \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:14.3833em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">of the ABNCoV2 write-down the previous recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:15.2164em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">nized deferred consideration of DKK 596 million was \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:16.0495em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">reduced to DKK 74 million, reflecting the most likely \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:16.8827em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">milestone scenario. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.5495em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:18.5427em;\"><span class=\"stl_600 stl_496 stl_440\" style=\"word-spacing:-0.0374em;\">Other non-current liabilities DKK 806 million: </span><span class=\"stl_532 stl_08 stl_385\">The \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:19.3827em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">obtained funding from Danish Ministry of Health was \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:20.2158em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">reclassified from an obligation to a grant received. \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:21.0489em;\"><span class=\"stl_532 stl_08 stl_441\" style=\"word-spacing:-0.0379em;\">The amount included DKK 6 million in amortized \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:21.882em;\"><span class=\"stl_532 stl_08 stl_185\">cost. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2303": {
   "value": "<div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_640 stl_08 stl_110\" style=\"word-spacing:-0.0303em;\">Intangible assets are measured at historic cost less accumu- \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:12.0389em;\"><span class=\"stl_640 stl_08 stl_324\" style=\"word-spacing:-0.033em;\">lated amortization and impairment losses. Cost of acquired \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:12.872em;\"><span class=\"stl_640 stl_08 stl_334\" style=\"word-spacing:-0.0316em;\">product rights are measured at cash consideration and \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:13.7051em;\"><span class=\"stl_640 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">present value of any deferred payments for those rights. \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:14.5383em;\"><span class=\"stl_640 stl_08 stl_341\" style=\"word-spacing:-0.0339em;\">Furthermore costs of acquired product rights include trans- \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:15.3722em;\"><span class=\"stl_640 stl_08 stl_537\" style=\"word-spacing:-0.0322em;\">action costs that are directly attributable to the acqusition. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.0389em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Internal development projects that meet the require- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.872em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">ments for recognition as intangible assets are meas- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.7051em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">ured at direct cost relating to the development projects. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.372em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Amortization is provided on a straight-line basis over \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.2051em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">the useful economic lives of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:22.872em;\"><span class=\"stl_532 stl_08 stl_125\" style=\"word-spacing:-0.03em;\">The useful lives of acquired product rights are estimated to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.7051em;\"><span class=\"stl_532 stl_08 stl_420\" style=\"word-spacing:-0.0249em;\">be 10-20 years and software is estimated to be 3-5 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.372em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">Amortization of acquired product rights is recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.2051em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">part of cost of goods sold under production costs. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2304": {
   "value": "<div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_640 stl_08 stl_110\" style=\"word-spacing:-0.0303em;\">Intangible assets are measured at historic cost less accumu- \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:12.0389em;\"><span class=\"stl_640 stl_08 stl_324\" style=\"word-spacing:-0.033em;\">lated amortization and impairment losses. Cost of acquired \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:12.872em;\"><span class=\"stl_640 stl_08 stl_334\" style=\"word-spacing:-0.0316em;\">product rights are measured at cash consideration and \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:13.7051em;\"><span class=\"stl_640 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">present value of any deferred payments for those rights. \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:14.5383em;\"><span class=\"stl_640 stl_08 stl_341\" style=\"word-spacing:-0.0339em;\">Furthermore costs of acquired product rights include trans- \u00a0</span></div><div class=\"stl_01 stl_639\" style=\"left:4.714em;top:15.3722em;\"><span class=\"stl_640 stl_08 stl_537\" style=\"word-spacing:-0.0322em;\">action costs that are directly attributable to the acqusition. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.0389em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Internal development projects that meet the require- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.872em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">ments for recognition as intangible assets are meas- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.7051em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">ured at direct cost relating to the development projects. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.372em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Amortization is provided on a straight-line basis over \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.2051em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">the useful economic lives of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:22.872em;\"><span class=\"stl_532 stl_08 stl_125\" style=\"word-spacing:-0.03em;\">The useful lives of acquired product rights are estimated to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.7051em;\"><span class=\"stl_532 stl_08 stl_420\" style=\"word-spacing:-0.0249em;\">be 10-20 years and software is estimated to be 3-5 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.372em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">Amortization of acquired product rights is recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.2051em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">part of cost of goods sold under production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.8651em;\"><span class=\"stl_600 stl_496 stl_443\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.7051em;\"><span class=\"stl_532 stl_08 stl_142\" style=\"word-spacing:-0.0364em;\">The carrying amounts of intangible assets carried at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:29.5383em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">cost or amortized cost are tested at least annually to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:30.3714em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">determine whether there are indications of any impair- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:31.2045em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">ment in excess of that expressed in normal amortiza- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.0376em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">tion. If that is the case, the asset is written down to the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.8708em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0335em;\">recoverable amount, which is the higher of its fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:33.7039em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">less costs to sell and its value in use. Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:34.537em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">on intangible assets are recognized under the same \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:35.3701em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">line item as amortization of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:37.037em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">For development projects in progress, the recoverable \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:37.8701em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">amount is assessed annually, regardless of whether any \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:38.7033em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">indications of impairment have been found. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2307": {
   "value": "<div class=\"stl_01\" style=\"left:4.714em;top:27.8651em;\"><span class=\"stl_600 stl_496 stl_443\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.7051em;\"><span class=\"stl_532 stl_08 stl_142\" style=\"word-spacing:-0.0364em;\">The carrying amounts of intangible assets carried at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:29.5383em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">cost or amortized cost are tested at least annually to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:30.3714em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">determine whether there are indications of any impair- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:31.2045em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">ment in excess of that expressed in normal amortiza- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.0376em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">tion. If that is the case, the asset is written down to the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.8708em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0335em;\">recoverable amount, which is the higher of its fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:33.7039em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">less costs to sell and its value in use. Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:34.537em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">on intangible assets are recognized under the same \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:35.3701em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">line item as amortization of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:37.037em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">For development projects in progress, the recoverable \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:37.8701em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">amount is assessed annually, regardless of whether any \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:38.7033em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">indications of impairment have been found. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3618em;\"><span class=\"stl_600 stl_496 stl_443\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.2018em;\"><span class=\"stl_532 stl_08 stl_46\" style=\"word-spacing:-0.0365em;\">The carrying amounts of property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">carried at cost or amortized cost are tested annually to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">determine whether there are indications of any impair- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.7012em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">ment in excess of that expressed in normal deprecia- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5343em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">tion. If that is the case, the asset is written down to the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3674em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0335em;\">recoverable amount, which is the higher of its fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.2006em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">less costs to sell and its value in use. Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.0337em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">on property, plant and equipment are recognized under \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8668em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">the same line item as depreciation of the assets. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2341": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_358\" style=\"word-spacing:0.0075em;\">Note 16 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_337\" style=\"word-spacing:0.0096em;\">Property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">Property, plant and equipment include land and build- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">ings, production equipment, leasehold improvements, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_423\" style=\"word-spacing:-0.0369em;\">office and IT equipment and laboratory equipment and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">is measured at cost less accumulated depreciation and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">impairment losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">Cost includes the costs directly attributable to the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0381em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">purchase of the asset, until the asset is ready for use. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">For assets constructed by the Group cost includes mate- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">rials, components, third-party suppliers and labour. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3712em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">Borrowing costs directly attributable to the construction \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2043em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">of property, plant and equipment are included in cost. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0374em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">Other borrowing costs are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8706em;\"><span class=\"stl_532 stl_08 stl_185\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5374em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">Depreciation is charged over the expected economic \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3706em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">lives of the assets, and the depreciation methods, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2037em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">expected lives and residual values are reassessed indi- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0368em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">vidually for the assets at the end of each financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8699em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">Assets are depreciated on a straightline basis over their \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7031em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">estimated useful lives as follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2031em;\"><span class=\"stl_532 stl_08 stl_69\">Buildings \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9169em;top:11.2031em;\"><span class=\"stl_532 stl_08 stl_321\" style=\"word-spacing:-0.0092em;\">10-20 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0362em;\"><span class=\"stl_532 stl_08 stl_21\">Installations \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2975em;top:12.0362em;\"><span class=\"stl_532 stl_08 stl_271\" style=\"word-spacing:-0.0103em;\">5-15 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8693em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">Leasehold improvements \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0544em;top:12.8693em;\"><span class=\"stl_532 stl_08 stl_60\" style=\"word-spacing:-0.021em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7024em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Office and IT equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.525em;top:13.7024em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0223em;\">3-5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5356em;\"><span class=\"stl_532 stl_08 stl_468\" style=\"word-spacing:-0.0389em;\">Laboratory equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2613em;top:14.5356em;\"><span class=\"stl_532 stl_08 stl_341\" style=\"word-spacing:-0.01em;\">5-10 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3687em;\"><span class=\"stl_532 stl_08 stl_423\" style=\"word-spacing:-0.0368em;\">Production equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2988em;top:15.3687em;\"><span class=\"stl_532 stl_08 stl_271\" style=\"word-spacing:-0.0103em;\">3-15 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0356em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">Management reviews the estimated useful lives of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8687em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">material property, plant and equipment at the end of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.7018em;\"><span class=\"stl_532 stl_08 stl_251\" style=\"word-spacing:-0.0226em;\">each financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3618em;\"><span class=\"stl_600 stl_496 stl_443\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.2018em;\"><span class=\"stl_532 stl_08 stl_46\" style=\"word-spacing:-0.0365em;\">The carrying amounts of property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">carried at cost or amortized cost are tested annually to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">determine whether there are indications of any impair- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.7012em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">ment in excess of that expressed in normal deprecia- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5343em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">tion. If that is the case, the asset is written down to the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3674em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0335em;\">recoverable amount, which is the higher of its fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.2006em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">less costs to sell and its value in use. Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.0337em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">on property, plant and equipment are recognized under \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8668em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">the same line item as depreciation of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9828em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3303em;top:11.4182em;\"><span class=\"stl_191 stl_15 stl_19\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:40.4434em;top:12.1682em;\"><span class=\"stl_191 stl_15 stl_176\" style=\"word-spacing:-0.0376em;\">fixtures and \u00a0</span></div><div class=\"stl_01\" style=\"left:39.9059em;top:12.9182em;\"><span class=\"stl_191 stl_15 stl_442\" style=\"word-spacing:-0.0375em;\">fittings, other \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1428em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_79\" style=\"word-spacing:-0.0428em;\">Land and \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5703em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_386\">Leasehold \u00a0</span></div><div class=\"stl_01\" style=\"left:36.4584em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0343em;\">Plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1828em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0367em;\">plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:44.924em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_445\" style=\"word-spacing:-0.0413em;\">Assets under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:14.4238em;\"><span class=\"stl_277 stl_08 stl_340\" style=\"word-spacing:-0.0396em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0672em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:0.9976em;\">buildings improvement \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1403em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_472\">machinery \u00a0</span></div><div class=\"stl_01\" style=\"left:40.7615em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_16\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:45.0659em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_16\">construction \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9803em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_59\" style=\"word-spacing:-0.024em;\">Costs as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5984em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_361\">858,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6684em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_305\">40,237 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.1003em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_101\">514,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8084em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_228\">626,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5978em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_552\">196,130 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7759em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_490\">2,235,315 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_221\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:27.964em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_228\">13,387 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9884em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_268\">2,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.3872em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_320\">20,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.424em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_35\">8,864 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8278em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_329\">96,836 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2497em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_303\">142,525 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_72\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0203em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_649\">79,712 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9797em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_160\">2,688 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4103em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_169\">43,983 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1603em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_275\">21,797 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.404em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_570\">(148,180) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1728em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6953em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_353\">300,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0047em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_326\">1,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.384em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_492\">86,336 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7822em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_575\">234,826 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8559em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_171\">58,926 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2547em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_390\">681,453 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:28.6178em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_650\">(178) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2747em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:37.339em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_290\">(27,101) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9953em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_437\">(11,603) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4484em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.3553em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_484\">(38,882) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9603em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_169\">16,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8315em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_169\">39 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7247em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_389\">8,520 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4828em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_613\">9,295 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1703em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_341\">3,009 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6278em;top:21.2175em;\"><span class=\"stl_277 stl_08 stl_561\">37,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_424\" style=\"word-spacing:-0.0159em;\">Cost as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9172em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_506\">1,268,062 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5922em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_265\">47,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9034em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_482\">646,707 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6728em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_106\">889,215 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3547em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_335\">206,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6553em;top:22.2338em;\"><span class=\"stl_191 stl_15 stl_301\">3,057,741 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">Depreciation and impairment losses as of January 1,2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5928em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_307\">228,405 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6947em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_105\">15,472 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.1053em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_140\">192,624 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8384em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_362\">114,841 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2665em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_161\">551,342 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_82\">Depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9915em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_302\">51,424 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0109em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_303\">6,491 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4009em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_596\">62,552 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1672em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_297\">85,511 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.259em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_107\">205,978 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5503em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2747em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:37.1628em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_258\">(25,277) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3122em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_289\">(8,745) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.3759em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_608\">(34,022) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.2853em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_511\">1,220 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.834em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_125\">26 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7947em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_434\">4,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4484em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_389\">1,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4484em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.9165em;top:26.9307em;\"><span class=\"stl_277 stl_08 stl_308\">6,928 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_44\" style=\"word-spacing:-0.0277em;\">Depreciation and impairment losses as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4734em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_244\">281,049 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5615em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_49\">21,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9072em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_342\">234,033 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.734em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_347\">193,155 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4403em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.0678em;top:27.9469em;\"><span class=\"stl_191 stl_15 stl_320\">730,226 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_33\" style=\"word-spacing:-0.0274em;\">Carrying amount as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5228em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_651\">987,013 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5359em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_455\">25,047 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.969em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_558\">412,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6134em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_361\">696,060 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.354em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_335\">206,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6065em;top:29.5725em;\"><span class=\"stl_191 stl_15 stl_184\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:31.1982em;\"><span class=\"stl_191 stl_15 stl_200\" style=\"word-spacing:-0.0341em;\">Geographical split of property, plant and equipment \u2013 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:32.2257em;\"><span class=\"stl_277 stl_08 stl_215\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.839em;top:32.2257em;\"><span class=\"stl_277 stl_08 stl_626\">1,615,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:33.2475em;\"><span class=\"stl_277 stl_08 stl_374\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6134em;top:33.2475em;\"><span class=\"stl_277 stl_08 stl_223\">52,711 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:34.2694em;\"><span class=\"stl_277 stl_08 stl_63\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5528em;top:34.2694em;\"><span class=\"stl_277 stl_08 stl_259\">40,006 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:35.2913em;\"><span class=\"stl_277 stl_08 stl_43\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3072em;top:35.2913em;\"><span class=\"stl_277 stl_08 stl_597\">619,587 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:36.3075em;\"><span class=\"stl_191 stl_15 stl_213\" style=\"word-spacing:-0.0328em;\">Total property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6084em;top:36.3075em;\"><span class=\"stl_191 stl_15 stl_306\">2,327,517 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7484em;top:10.215em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">The net present value of property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7484em;top:11.0482em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">acquired form Emergent BioSolutions amounted to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7484em;top:11.8813em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">DKK 681 million at the acquisition date and comprised \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7484em;top:12.7144em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">mainly of the production site in Bern. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7484em;top:14.3813em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0269em;\">Mortgage loans of DKK 17.0 million are secured by \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7484em;top:15.2144em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">mortgages totaling DKK 50.0 million on the property \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7484em;top:16.0475em;\"><span class=\"stl_532 stl_08 stl_217\" style=\"word-spacing:-0.0239em;\">B\u00f8geskovvej 9/Hejreskovvej 10A, Kvistgaard. In addi- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7484em;top:16.8807em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">tion, as of December 31, 2023, mortgage deeds for a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7484em;top:17.7138em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">total of DKK 75.0 million have been issued. The carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7484em;top:18.5469em;\"><span class=\"stl_532 stl_08 stl_176\" style=\"word-spacing:-0.0375em;\">amount of assets mortgaged in security of mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7484em;top:19.38em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">loans is DKK 1,399.7 million (land and buildings: DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7484em;top:20.2132em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0252em;\">987.0 million; plant and machinery: DKK 412.7 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9818em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3299em;top:11.4182em;\"><span class=\"stl_191 stl_15 stl_19\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:40.443em;top:12.1682em;\"><span class=\"stl_191 stl_15 stl_176\" style=\"word-spacing:-0.0376em;\">fixtures and \u00a0</span></div><div class=\"stl_01\" style=\"left:39.9055em;top:12.9182em;\"><span class=\"stl_191 stl_15 stl_442\" style=\"word-spacing:-0.0375em;\">fittings, other \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1424em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_79\" style=\"word-spacing:-0.0428em;\">Land and \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5699em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_386\">Leasehold \u00a0</span></div><div class=\"stl_01\" style=\"left:36.458em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0343em;\">Plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1824em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0367em;\">plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:44.9237em;top:13.6682em;\"><span class=\"stl_191 stl_15 stl_445\" style=\"word-spacing:-0.0413em;\">Assets under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:14.4238em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0668em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:0.9976em;\">buildings improvement \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1399em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_472\">machinery \u00a0</span></div><div class=\"stl_01\" style=\"left:40.7612em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_16\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:45.0656em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_16\">construction \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9799em;top:14.4182em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7255em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_38\" style=\"word-spacing:-0.0245em;\">Costs as of January 1, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.603em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_512\">546,771 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6437em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_190\">22,288 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0749em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_225\">424,291 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8924em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_382\">312,179 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5393em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_346\">578,707 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7187em;top:16.1082em;\"><span class=\"stl_277 stl_08 stl_269\">1,884,236 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7255em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_221\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9693em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_156\">73,768 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0849em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_350\">6,147 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4124em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_387\">26,023 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8081em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_228\">146,421 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4999em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_333\">108,885 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2706em;top:17.13em;\"><span class=\"stl_277 stl_08 stl_125\">361,244 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7249em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_72\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5868em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_212\">238,004 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.7174em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_392\">11,802 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4262em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_85\">73,919 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9199em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_583\">167,745 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3774em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_31\">(491,470) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1718em;top:18.1519em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7256em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5499em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2743em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:37.5481em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_121\">(9,864) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.7706em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_245\">(428) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4474em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.4131em;top:19.1738em;\"><span class=\"stl_277 stl_08 stl_652\">(10,292) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7256em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5499em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2743em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.9987em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.9962em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_381\">119 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.3331em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_24\">8</span></div><div class=\"stl_01\" style=\"left:52.4156em;top:20.1957em;\"><span class=\"stl_277 stl_08 stl_245\">127 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7262em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_364\" style=\"word-spacing:-0.0162em;\">Cost as of December 31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4318em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_235\">858,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5312em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_395\">40,237 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9287em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_224\">514,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6449em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_432\">626,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4256em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_349\">196,130 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5612em;top:21.2119em;\"><span class=\"stl_191 stl_15 stl_169\">2,235,315 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7262em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">Depreciation and impairment losses as of January 1, 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6331em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_169\">200,818 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6731em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_484\">12,277 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.1931em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_653\">169,761 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1418em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_65\">88,712 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4493em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2481em;top:22.8432em;\"><span class=\"stl_277 stl_08 stl_388\">471,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7268em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_82\">Depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9937em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_563\">27,587 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0781em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_230\">3,196 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4468em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_296\">31,061 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1087em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_638\">26,360 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4487em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.5437em;top:23.865em;\"><span class=\"stl_277 stl_08 stl_255\">88,204 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7268em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5512em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2756em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:37.6124em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_654\">(8,198) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.7631em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_306\">(301) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4487em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.7087em;top:24.8869em;\"><span class=\"stl_277 stl_08 stl_65\">(8,499) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7262em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5506em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.9912em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_642\">(1) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9993em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:43.2856em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_312\">70 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4481em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.7368em;top:25.9088em;\"><span class=\"stl_277 stl_08 stl_245\">69 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7262em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_42\" style=\"word-spacing:-0.0278em;\">Depreciation and impairment losses as of December 31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4299em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_212\">228,405 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5468em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_131\">15,472 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9287em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_224\">192,624 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6712em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_134\">114,841 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4412em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.1012em;top:26.925em;\"><span class=\"stl_191 stl_15 stl_48\">551,342 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7268em;top:28.5507em;\"><span class=\"stl_191 stl_15 stl_44\" style=\"word-spacing:-0.0277em;\">Carrying amount as of December 31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5218em;top:28.5507em;\"><span class=\"stl_191 stl_15 stl_245\">630,138 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5643em;top:28.5507em;\"><span class=\"stl_191 stl_15 stl_49\">24,765 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9912em;top:28.5507em;\"><span class=\"stl_191 stl_15 stl_595\">321,745 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7525em;top:28.5507em;\"><span class=\"stl_191 stl_15 stl_655\">511,195 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4268em;top:28.5507em;\"><span class=\"stl_191 stl_15 stl_349\">196,130 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5406em;top:28.5507em;\"><span class=\"stl_191 stl_15 stl_335\">1,683,973 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7274em;top:30.1763em;\"><span class=\"stl_191 stl_15 stl_280\" style=\"word-spacing:-0.0342em;\">Geographical split of property, plant and equipment \u2013 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7274em;top:31.2038em;\"><span class=\"stl_277 stl_08 stl_215\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7712em;top:31.2038em;\"><span class=\"stl_277 stl_08 stl_130\">1,626,673 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7274em;top:32.2257em;\"><span class=\"stl_277 stl_08 stl_374\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5431em;top:32.2257em;\"><span class=\"stl_277 stl_08 stl_252\">56,564 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7274em;top:33.2475em;\"><span class=\"stl_277 stl_08 stl_63\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3843em;top:33.2475em;\"><span class=\"stl_277 stl_08 stl_50\">463 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7274em;top:34.2694em;\"><span class=\"stl_277 stl_08 stl_35\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3906em;top:34.2694em;\"><span class=\"stl_277 stl_08 stl_384\">273 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7274em;top:35.2857em;\"><span class=\"stl_191 stl_15 stl_213\" style=\"word-spacing:-0.0328em;\">Total property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5406em;top:35.2857em;\"><span class=\"stl_191 stl_15 stl_335\">1,683,973 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:10.2189em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">The expansion of the drug substance facility for future \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">production of Rabipur/RabAvert and Encepur completed \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">end of 2022. The Company has not incurred any \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.7183em;z-index:252;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">borrowing costs directly attributable to the construc- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:13.5514em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">tion, hence no borrowing costs have been capitalized. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:15.2183em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">Mortgage loans of DKK 18.9 million are secured by \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.0514em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">mortgages totaling DKK 50.0 million on the property \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.8845em;\"><span class=\"stl_532 stl_08 stl_217\" style=\"word-spacing:-0.0239em;\">B\u00f8geskovvej 9/Hejreskovvej 10A, Kvistgaard. In addi- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.7177em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">tion, as of December 31, 2022, mortgage deeds for a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:18.5508em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">total of DKK 75.0 million have been issued. The carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:19.3839em;\"><span class=\"stl_532 stl_08 stl_176\" style=\"word-spacing:-0.0375em;\">amount of assets mortgaged in security of mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:20.217em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">loans is DKK 951.8 million (land and buildings: DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:21.0502em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">630.1 million; plant and machinery: DKK 321.7 million). \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2342": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">Property, plant and equipment include land and build- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">ings, production equipment, leasehold improvements, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_423\" style=\"word-spacing:-0.0369em;\">office and IT equipment and laboratory equipment and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">is measured at cost less accumulated depreciation and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">impairment losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">Cost includes the costs directly attributable to the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0381em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">purchase of the asset, until the asset is ready for use. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">For assets constructed by the Group cost includes mate- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">rials, components, third-party suppliers and labour. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3712em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">Borrowing costs directly attributable to the construction \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2043em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">of property, plant and equipment are included in cost. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0374em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">Other borrowing costs are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8706em;\"><span class=\"stl_532 stl_08 stl_185\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5374em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">Depreciation is charged over the expected economic \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3706em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">lives of the assets, and the depreciation methods, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2037em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">expected lives and residual values are reassessed indi- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0368em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">vidually for the assets at the end of each financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8699em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">Assets are depreciated on a straightline basis over their \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7031em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">estimated useful lives as follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2031em;\"><span class=\"stl_532 stl_08 stl_69\">Buildings \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9169em;top:11.2031em;\"><span class=\"stl_532 stl_08 stl_321\" style=\"word-spacing:-0.0092em;\">10-20 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0362em;\"><span class=\"stl_532 stl_08 stl_21\">Installations \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2975em;top:12.0362em;\"><span class=\"stl_532 stl_08 stl_271\" style=\"word-spacing:-0.0103em;\">5-15 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8693em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">Leasehold improvements \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0544em;top:12.8693em;\"><span class=\"stl_532 stl_08 stl_60\" style=\"word-spacing:-0.021em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7024em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Office and IT equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.525em;top:13.7024em;\"><span class=\"stl_532 stl_08 stl_261\" style=\"word-spacing:-0.0223em;\">3-5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5356em;\"><span class=\"stl_532 stl_08 stl_468\" style=\"word-spacing:-0.0389em;\">Laboratory equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2613em;top:14.5356em;\"><span class=\"stl_532 stl_08 stl_341\" style=\"word-spacing:-0.01em;\">5-10 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3687em;\"><span class=\"stl_532 stl_08 stl_423\" style=\"word-spacing:-0.0368em;\">Production equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2988em;top:15.3687em;\"><span class=\"stl_532 stl_08 stl_271\" style=\"word-spacing:-0.0103em;\">3-15 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0356em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">Management reviews the estimated useful lives of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8687em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">material property, plant and equipment at the end of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.7018em;\"><span class=\"stl_532 stl_08 stl_251\" style=\"word-spacing:-0.0226em;\">each financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3618em;\"><span class=\"stl_600 stl_496 stl_443\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.2018em;\"><span class=\"stl_532 stl_08 stl_46\" style=\"word-spacing:-0.0365em;\">The carrying amounts of property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.0349em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">carried at cost or amortized cost are tested annually to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8681em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">determine whether there are indications of any impair- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.7012em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">ment in excess of that expressed in normal deprecia- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5343em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">tion. If that is the case, the asset is written down to the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3674em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0335em;\">recoverable amount, which is the higher of its fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.2006em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">less costs to sell and its value in use. Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.0337em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">on property, plant and equipment are recognized under \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8668em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">the same line item as depreciation of the assets. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2360": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_117\" style=\"word-spacing:0.0015em;\">Note 17 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_656\">Right-of-use-assets \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">The right-of-use assets comprise the initial measure- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0263em;\">ment of the corresponding lease liability. Right-of-use \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">assets are subsequently measured at cost less accumu- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">lated depreciation and impairment losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3718em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">All operating leases with a lease term of more than 12 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">months are recognized on the balance sheet as right- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0381em;\"><span class=\"stl_532 stl_08 stl_87\">of-use-assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">For leases with a lease term of less than 12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">the lease payments are recognized as an operating \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">expense on a straight-line basis over the term of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_59\">lease. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0374em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0247em;\">The right-of-use-assets are measured at the present \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8706em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">value of all future lease payments. When assessing the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7037em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">lease term, any extension or termination options are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5368em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">included in the assessment. The options are included \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3699em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">in determining the lease term, if exercise is reason- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2031em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">ably certain. When determining the discount rates \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0362em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">used to calculate the net present value of future lease \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8693em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">payments, an incremental country specific borrowing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7024em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">rate is used, based on a government bond plus the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5356em;\"><span class=\"stl_532 stl_08 stl_255\" style=\"word-spacing:-0.0212em;\">Group\u2019s credit margin, ranging from 3.69% to 6.93%. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3687em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">A single discount rate is used for a portfolio of lease \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2018em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0321em;\">assets with reasonable similar characteristics. Initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.0349em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">direct costs are not included in measurement of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.8681em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">right-of-use-assets. Non-lease components are not \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.7012em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">separated from lease components. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7012em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Impact from change in lease terms, lease payments or \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5343em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">modification of the lease contract is further described \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3674em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0257em;\">in note 28. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0343em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0253em;\">Right-of-use assets are depreciated over the shorter \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8674em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">period of lease term and useful life of the underlying \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.7006em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">asset. The depreciation starts at the commencement \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.5337em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">date of the lease. IAS 36 is applied to determine \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3668em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">whether a right-of-use asset is impaired and any iden- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1999em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">tified impariment losses are accounted for as described \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.033em;\"><span class=\"stl_532 stl_08 stl_251\" style=\"word-spacing:-0.023em;\">in note 15. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2012em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">A maturity analysis for lease payments is described in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0343em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">note 23. \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6048em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7205em;top:11.3em;\"><span class=\"stl_191 stl_15 stl_59\">Rent \u00a0</span></div><div class=\"stl_01\" style=\"left:61.9392em;top:11.3em;\"><span class=\"stl_191 stl_15 stl_204\">Car \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:12.0557em;\"><span class=\"stl_277 stl_08 stl_340\" style=\"word-spacing:-0.0396em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0542em;top:12.05em;\"><span class=\"stl_191 stl_15 stl_241\">facility \u00a0</span></div><div class=\"stl_01\" style=\"left:60.733em;top:12.05em;\"><span class=\"stl_191 stl_15 stl_423\" style=\"word-spacing:0.7661em;\">leasing Equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9867em;top:12.05em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:13.3869em;\"><span class=\"stl_277 stl_08 stl_50\" style=\"word-spacing:-0.0219em;\">Right-of-use assets as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2192em;top:13.3869em;\"><span class=\"stl_277 stl_08 stl_329\">58,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.3492em;top:13.3869em;\"><span class=\"stl_277 stl_08 stl_324\">8,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6617em;top:13.3869em;\"><span class=\"stl_277 stl_08 stl_338\">574 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6399em;top:13.3869em;\"><span class=\"stl_277 stl_08 stl_647\">67,433 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7405em;top:14.4088em;\"><span class=\"stl_277 stl_08 stl_221\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:57.583em;top:14.4088em;\"><span class=\"stl_277 stl_08 stl_224\">2,551 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.3855em;top:14.4088em;\"><span class=\"stl_277 stl_08 stl_392\">8,767 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3992em;top:14.4088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.6492em;top:14.4088em;\"><span class=\"stl_277 stl_08 stl_459\">11,318 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7399em;top:15.4307em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2836em;top:15.4307em;\"><span class=\"stl_277 stl_08 stl_168\">41,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6192em;top:15.4307em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:66.3986em;top:15.4307em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.6217em;top:15.4307em;\"><span class=\"stl_277 stl_08 stl_168\">41,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:16.4526em;\"><span class=\"stl_277 stl_08 stl_174\">Modifications \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2836em;top:16.4526em;\"><span class=\"stl_277 stl_08 stl_297\">47,096 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.8636em;top:16.4526em;\"><span class=\"stl_277 stl_08 stl_631\">210 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6155em;top:16.4526em;\"><span class=\"stl_277 stl_08 stl_333\">993 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5417em;top:16.4526em;\"><span class=\"stl_277 stl_08 stl_40\">48,299 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7386em;top:17.4744em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4748em;top:17.4744em;\"><span class=\"stl_277 stl_08 stl_658\">(7,109) \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1636em;top:17.4744em;\"><span class=\"stl_277 stl_08 stl_97\">(2,216) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4255em;top:17.4744em;\"><span class=\"stl_277 stl_08 stl_152\">(409) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.748em;top:17.4744em;\"><span class=\"stl_277 stl_08 stl_296\">(9,734) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.738em;top:18.4963em;\"><span class=\"stl_277 stl_08 stl_182\">Depreciations \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0349em;top:18.4963em;\"><span class=\"stl_277 stl_08 stl_226\">(30,862) \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1461em;top:18.4963em;\"><span class=\"stl_277 stl_08 stl_452\">(5,800) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4792em;top:18.4963em;\"><span class=\"stl_277 stl_08 stl_119\">(419) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4492em;top:18.4963em;\"><span class=\"stl_277 stl_08 stl_657\">(37,081) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.738em;top:19.5182em;\"><span class=\"stl_277 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">Reversal depreciations \u00a0</span></div><div class=\"stl_01\" style=\"left:58.0686em;top:19.5182em;\"><span class=\"stl_277 stl_08 stl_291\">675 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.3724em;top:19.5182em;\"><span class=\"stl_277 stl_08 stl_146\">1,798 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6005em;top:19.5182em;\"><span class=\"stl_277 stl_08 stl_200\">409 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8899em;top:19.5182em;\"><span class=\"stl_277 stl_08 stl_268\">2,882 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.738em;top:20.5401em;\"><span class=\"stl_277 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:58.0642em;top:20.5401em;\"><span class=\"stl_277 stl_08 stl_303\">106 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5024em;top:20.5401em;\"><span class=\"stl_277 stl_08 stl_24\">3</span></div><div class=\"stl_01\" style=\"left:66.2817em;top:20.5401em;\"><span class=\"stl_277 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:69.4436em;top:20.5401em;\"><span class=\"stl_277 stl_08 stl_319\">110 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.738em;top:21.5563em;\"><span class=\"stl_191 stl_15 stl_54\" style=\"word-spacing:-0.0247em;\">Right-of-use assets as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.7724em;top:21.5563em;\"><span class=\"stl_191 stl_15 stl_346\">112,867 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.9799em;top:21.5563em;\"><span class=\"stl_191 stl_15 stl_165\">11,154 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.0949em;top:21.5563em;\"><span class=\"stl_191 stl_15 stl_465\">1,149 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1774em;top:21.5563em;\"><span class=\"stl_191 stl_15 stl_577\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6017em;top:22.9457em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7186em;top:24.0269em;\"><span class=\"stl_191 stl_15 stl_59\">Rent \u00a0</span></div><div class=\"stl_01\" style=\"left:61.9374em;top:24.0269em;\"><span class=\"stl_191 stl_15 stl_204\">Car \u00a0</span></div><div class=\"stl_01\" style=\"left:38.738em;top:24.7826em;\"><span class=\"stl_277 stl_08 stl_340\" style=\"word-spacing:-0.0396em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0524em;top:24.7769em;\"><span class=\"stl_191 stl_15 stl_241\">facility \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7311em;top:24.7769em;\"><span class=\"stl_191 stl_15 stl_423\" style=\"word-spacing:0.7661em;\">leasing Equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9849em;top:24.7769em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:38.738em;top:26.1138em;\"><span class=\"stl_277 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">Impact from applying IFRS 16 as of January 1, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2549em;top:26.1138em;\"><span class=\"stl_277 stl_08 stl_308\">73,026 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.4167em;top:26.1138em;\"><span class=\"stl_277 stl_08 stl_659\">1,742 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1605em;top:26.1138em;\"><span class=\"stl_277 stl_08 stl_302\">1,075 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5761em;top:26.1138em;\"><span class=\"stl_277 stl_08 stl_615\">75,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.738em;top:27.1357em;\"><span class=\"stl_277 stl_08 stl_221\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:58.0855em;top:27.1357em;\"><span class=\"stl_277 stl_08 stl_383\">917 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.3542em;top:27.1357em;\"><span class=\"stl_277 stl_08 stl_303\">8,671 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3967em;top:27.1357em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.9199em;top:27.1357em;\"><span class=\"stl_277 stl_08 stl_308\">9,588 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.738em;top:28.1576em;\"><span class=\"stl_277 stl_08 stl_174\">Modifications \u00a0</span></div><div class=\"stl_01\" style=\"left:57.5886em;top:28.1576em;\"><span class=\"stl_277 stl_08 stl_125\">5,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.8249em;top:28.1576em;\"><span class=\"stl_277 stl_08 stl_35\">986 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3967em;top:28.1576em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.9311em;top:28.1576em;\"><span class=\"stl_277 stl_08 stl_140\">6,312 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.738em;top:29.1844em;\"><span class=\"stl_277 stl_08 stl_213\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:57.398em;top:29.1844em;\"><span class=\"stl_277 stl_08 stl_312\">(2,412) \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6174em;top:29.1844em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:66.3967em;top:29.1844em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.7361em;top:29.1844em;\"><span class=\"stl_277 stl_08 stl_312\">(2,412) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7374em;top:30.2063em;\"><span class=\"stl_277 stl_08 stl_182\">Depreciations \u00a0</span></div><div class=\"stl_01\" style=\"left:57.1124em;top:30.2063em;\"><span class=\"stl_277 stl_08 stl_598\">(19,475) \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1561em;top:30.2063em;\"><span class=\"stl_277 stl_08 stl_62\">(3,050) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4167em;top:30.2063em;\"><span class=\"stl_277 stl_08 stl_102\">(500) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3755em;top:30.2063em;\"><span class=\"stl_277 stl_08 stl_431\">(23,025) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7374em;top:31.2282em;\"><span class=\"stl_277 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">Reversal depreciations \u00a0</span></div><div class=\"stl_01\" style=\"left:58.0386em;top:31.2282em;\"><span class=\"stl_277 stl_08 stl_199\">909 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6167em;top:31.2282em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:66.3961em;top:31.2282em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:69.3767em;top:31.2282em;\"><span class=\"stl_277 stl_08 stl_199\">909 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7367em;top:32.2501em;\"><span class=\"stl_277 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:58.1061em;top:32.2501em;\"><span class=\"stl_277 stl_08 stl_285\">176 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.1736em;top:32.2501em;\"><span class=\"stl_277 stl_08 stl_308\">43 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.1117em;top:32.2501em;\"><span class=\"stl_277 stl_08 stl_642\">(1) \u00a0</span></div><div class=\"stl_01\" style=\"left:69.423em;top:32.2501em;\"><span class=\"stl_277 stl_08 stl_437\">218 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7361em;top:33.2663em;\"><span class=\"stl_191 stl_15 stl_40\" style=\"word-spacing:-0.0249em;\">Right-of-use assets as of December 31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0755em;top:33.2663em;\"><span class=\"stl_191 stl_15 stl_214\">58,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.228em;top:33.2663em;\"><span class=\"stl_191 stl_15 stl_389\">8,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.5917em;top:33.2663em;\"><span class=\"stl_191 stl_15 stl_465\">574 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4836em;top:33.2663em;\"><span class=\"stl_191 stl_15 stl_284\">67,433 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7367em;top:34.6613em;\"><span class=\"stl_277 stl_08 stl_340\" style=\"word-spacing:-0.0396em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2061em;top:34.6557em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9836em;top:34.6557em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7367em;top:35.9869em;\"><span class=\"stl_191 stl_15 stl_485\" style=\"word-spacing:-0.0383em;\">Amounts included in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7367em;top:37.0144em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">Interest expense leases \u00a0</span></div><div class=\"stl_01\" style=\"left:65.183em;top:37.0144em;\"><span class=\"stl_277 stl_08 stl_592\">3,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8942em;top:37.0144em;\"><span class=\"stl_277 stl_08 stl_536\">1,888 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7367em;top:38.0363em;\"><span class=\"stl_277 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">Depreciation recognized on right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8549em;top:38.0363em;\"><span class=\"stl_277 stl_08 stl_565\">37,081 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5849em;top:38.0363em;\"><span class=\"stl_277 stl_08 stl_187\">23,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7367em;top:39.0582em;\"><span class=\"stl_277 stl_08 stl_41\" style=\"word-spacing:-0.0255em;\">Cost recognized for short term leases (less than 12 months) \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3955em;top:39.0582em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:69.4055em;top:39.0582em;\"><span class=\"stl_277 stl_08 stl_156\">267 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_303\" style=\"word-spacing:0.002em;\">Note 28 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_138\" style=\"word-spacing:0.0146em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">The lease liability is initially measured at the present \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">value of the future lease payments (see further in note \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">17), discounted by using an incremental country specific \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">borrowing rate ranging from 3.69% to 6.93% applying \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">only a single discount rate for a portfolio of lease assets \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">with reasonable similar characteristics. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0381em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">The lease liability is subsequently measured by \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">increasing the carrying amount to reflect interest on \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">the lease liability using the effective interest method \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">and by reducing the carrying amount to reflect the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">lease payments made. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2037em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">The lease liability is remeasured and corresponding \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0368em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0251em;\">adjustments are made to the related right-of-use-asset \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8699em;\"><span class=\"stl_532 stl_08 stl_268\">whenever: \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5368em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:14.5368em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">The lease term has changed, in which case the lease \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:15.3699em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">liability is remeasured by discounting the revised \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:16.2031em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">lease payments using a revised discount rate. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8699em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:17.8699em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">The lease payments change due to changes in \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:18.7031em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">an index or rate, in which case the lease liability \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:19.5362em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">is remeasured by discounting the revised lease \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:20.3693em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">payments using an unchanged discount rate. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.0362em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:22.0362em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">A lease contract is modified and the lease modifi- \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:22.8693em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">cation is not accounted for as a seperate lease, in \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:23.7024em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">which case the lease liability is remeasured based on \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:24.5356em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">the lease term of the modified lease by discounting \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:25.3687em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">the revised lease payments using a revised discount \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:26.2018em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">rate at the effective date of the modification. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2202em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9977em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_400\">Non-current \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8252em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_224\">83,621 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.587em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_326\">45,834 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_38\">Current \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8033em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_582\">44,633 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.587em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_455\">24,487 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.002em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0349em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3152em;top:14.002em;\"><span class=\"stl_191 stl_15 stl_447\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4839em;top:14.002em;\"><span class=\"stl_191 stl_15 stl_155\">70,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:53.0614em;top:17.1723em;\"><span class=\"stl_191 stl_15 stl_443\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:57.087em;top:17.1723em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:62.9745em;top:17.1723em;\"><span class=\"stl_191 stl_15 stl_176\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.9279em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:54.4333em;top:17.9223em;\"><span class=\"stl_191 stl_15 stl_186\" style=\"word-spacing:-0.0233em;\">1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:57.3864em;top:17.9223em;\"><span class=\"stl_191 stl_15 stl_78\" style=\"word-spacing:-0.0304em;\">1 and 5 year \u00a0</span></div><div class=\"stl_01\" style=\"left:63.592em;top:17.9223em;\"><span class=\"stl_191 stl_15 stl_183\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9864em;top:17.9223em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:19.6067em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.6342em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:54.3983em;top:20.6342em;\"><span class=\"stl_277 stl_08 stl_582\">44,633 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.1445em;top:20.6342em;\"><span class=\"stl_277 stl_08 stl_224\">83,621 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4533em;top:20.6342em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.2414em;top:20.6342em;\"><span class=\"stl_277 stl_08 stl_420\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:21.6504em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:54.2552em;top:21.6504em;\"><span class=\"stl_191 stl_15 stl_505\">44,633 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.0102em;top:21.6504em;\"><span class=\"stl_191 stl_15 stl_65\">83,621 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4464em;top:21.6504em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.0833em;top:21.6504em;\"><span class=\"stl_191 stl_15 stl_447\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.8792em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.9067em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:54.4033em;top:24.9067em;\"><span class=\"stl_277 stl_08 stl_455\">24,487 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.1283em;top:24.9067em;\"><span class=\"stl_277 stl_08 stl_326\">45,834 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4545em;top:24.9067em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.6095em;top:24.9067em;\"><span class=\"stl_277 stl_08 stl_121\">70,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:25.9229em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:54.2383em;top:25.9229em;\"><span class=\"stl_191 stl_15 stl_59\">24,487 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.982em;top:25.9229em;\"><span class=\"stl_191 stl_15 stl_320\">45,834 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4477em;top:25.9229em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.4733em;top:25.9229em;\"><span class=\"stl_191 stl_15 stl_155\">70,321 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLeasesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2361": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">The right-of-use assets comprise the initial measure- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0263em;\">ment of the corresponding lease liability. Right-of-use \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">assets are subsequently measured at cost less accumu- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">lated depreciation and impairment losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3718em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">All operating leases with a lease term of more than 12 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">months are recognized on the balance sheet as right- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0381em;\"><span class=\"stl_532 stl_08 stl_87\">of-use-assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">For leases with a lease term of less than 12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">the lease payments are recognized as an operating \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">expense on a straight-line basis over the term of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_59\">lease. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0374em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0247em;\">The right-of-use-assets are measured at the present \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8706em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">value of all future lease payments. When assessing the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7037em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">lease term, any extension or termination options are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5368em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">included in the assessment. The options are included \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3699em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">in determining the lease term, if exercise is reason- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2031em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">ably certain. When determining the discount rates \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0362em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">used to calculate the net present value of future lease \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8693em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">payments, an incremental country specific borrowing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7024em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">rate is used, based on a government bond plus the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5356em;\"><span class=\"stl_532 stl_08 stl_255\" style=\"word-spacing:-0.0212em;\">Group\u2019s credit margin, ranging from 3.69% to 6.93%. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3687em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">A single discount rate is used for a portfolio of lease \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2018em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0321em;\">assets with reasonable similar characteristics. Initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.0349em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">direct costs are not included in measurement of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.8681em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">right-of-use-assets. Non-lease components are not \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.7012em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">separated from lease components. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7012em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Impact from change in lease terms, lease payments or \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5343em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">modification of the lease contract is further described \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3674em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0257em;\">in note 28. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0343em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0253em;\">Right-of-use assets are depreciated over the shorter \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8674em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">period of lease term and useful life of the underlying \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.7006em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">asset. The depreciation starts at the commencement \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.5337em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">date of the lease. IAS 36 is applied to determine \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3668em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">whether a right-of-use asset is impaired and any iden- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1999em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">tified impariment losses are accounted for as described \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.033em;\"><span class=\"stl_532 stl_08 stl_251\" style=\"word-spacing:-0.023em;\">in note 15. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2012em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">A maturity analysis for lease payments is described in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0343em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">note 23. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">The lease liability is initially measured at the present \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">value of the future lease payments (see further in note \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">17), discounted by using an incremental country specific \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">borrowing rate ranging from 3.69% to 6.93% applying \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">only a single discount rate for a portfolio of lease assets \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">with reasonable similar characteristics. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0381em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">The lease liability is subsequently measured by \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">increasing the carrying amount to reflect interest on \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">the lease liability using the effective interest method \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">and by reducing the carrying amount to reflect the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">lease payments made. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2037em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">The lease liability is remeasured and corresponding \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0368em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0251em;\">adjustments are made to the related right-of-use-asset \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8699em;\"><span class=\"stl_532 stl_08 stl_268\">whenever: \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5368em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:14.5368em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">The lease term has changed, in which case the lease \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:15.3699em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">liability is remeasured by discounting the revised \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:16.2031em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">lease payments using a revised discount rate. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8699em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:17.8699em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">The lease payments change due to changes in \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:18.7031em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">an index or rate, in which case the lease liability \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:19.5362em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">is remeasured by discounting the revised lease \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:20.3693em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">payments using an unchanged discount rate. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.0362em;\"><span class=\"stl_532 stl_08 stl_24\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:22.0362em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">A lease contract is modified and the lease modifi- \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:22.8693em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">cation is not accounted for as a seperate lease, in \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:23.7024em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">which case the lease liability is remeasured based on \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:24.5356em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">the lease term of the modified lease by discounting \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:25.3687em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">the revised lease payments using a revised discount \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:26.2018em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">rate at the effective date of the modification. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2372": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_390\" style=\"word-spacing:0.005em;\">Note 18 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_111\">Inventories \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0233em;\">Inventories except for raw materials are measured \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_87\" style=\"word-spacing:-0.0249em;\">at the lower of cost using the weighted average cost \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">formula method less write-downs for obsolescence and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_87\" style=\"word-spacing:-0.0249em;\">net realisable value. Raw materials are measured at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">cost based on the FIFO method. For raw materials, cost \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">is determined as direct acquisition costs incurred. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">cost of finished goods produced in-house and work in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">progress includes raw materials, consumables, filling \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">cost, QC testing and direct payroll costs plus indirect \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0353em;\">costs of production. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">Indirect costs of production include indirect materials \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2037em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">and labour as well as maintenance of and depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">on the machinery used in production processes, factory \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8699em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0351em;\">buildings and equipment used and cost of production \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7031em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">administration and management. The net realisable \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5362em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">value is the estimated sales price in the ordinary course \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3693em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">of business less relevant sales costs determined on the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2024em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">basis of marketability, obsolescence and changes in the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0356em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">expected sales price. \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3245em;top:10.3531em;\"><span class=\"stl_517 stl_15 stl_195\" style=\"word-spacing:-0.0285em;\">Significant accounting estimates \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:11.3999em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">Production overheads are measured on the basis of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:12.2331em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">actual costs. The basis of the actual costs is reassessed \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:13.0662em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">regularly to ensure that they are adjusted for changes \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:13.8993em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">in the utilization of production capacity, production \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:14.7324em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">changes and other relevant factors. Biological living \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:15.5656em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">material is used, and the measurements and assump- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:16.3987em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">tions for the estimates made may be incomplete or \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:17.2318em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">inaccurate, and unexpected events or circumstances \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:18.0649em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">may occur, which may cause the actual outcomes to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:18.8981em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">later deviate from these estimates. It may be necessary \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:19.7312em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0283em;\">to change previous estimates as a result of changes in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:20.5643em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">the assumptions on which the estimates were based \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:21.3974em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">or due to new information or subsequent events, for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:22.2306em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">which certainty could not be achieved in the earlier \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:23.0637em;\"><span class=\"stl_532 stl_08 stl_175\">estimates. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:24.7306em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">Estimates that are material to the financial reporting \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:25.5637em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">are made in the determination of any impairment of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:26.3968em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">inventories as a result of 'out-of-specification' products, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:27.2299em;\"><span class=\"stl_532 stl_08 stl_340\" style=\"word-spacing:-0.0397em;\">expiry of products and sales risk. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_56\" style=\"word-spacing:-0.0262em;\">Raw materials and supply materials \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5552em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_332\">317,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2708em;top:11.9088em;\"><span class=\"stl_277 stl_08 stl_291\">206,211 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_35\" style=\"word-spacing:-0.0269em;\">Work in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9964em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_99\">1,231,858 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.332em;top:12.9307em;\"><span class=\"stl_277 stl_08 stl_592\">641,183 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_46\" style=\"word-spacing:-0.0365em;\">Manufactured goods and commodities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.612em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_660\">319,102 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2283em;top:13.9525em;\"><span class=\"stl_277 stl_08 stl_368\">234,097 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Write-down on inventory \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3045em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_135\">(224,615) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1189em;top:14.9744em;\"><span class=\"stl_277 stl_08 stl_631\">(162,419) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:15.9907em;\"><span class=\"stl_191 stl_15 stl_195\">Inventories \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7658em;top:15.9907em;\"><span class=\"stl_191 stl_15 stl_482\">1,643,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1314em;top:15.9907em;\"><span class=\"stl_191 stl_15 stl_275\">919,072 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:17.6219em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">Write-down on inventory as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3396em;top:17.6219em;\"><span class=\"stl_277 stl_08 stl_631\">(162,419) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1083em;top:17.6219em;\"><span class=\"stl_277 stl_08 stl_31\">(172,941) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.6438em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6364em;top:18.6438em;\"><span class=\"stl_277 stl_08 stl_312\">(14,498) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1789em;top:18.6438em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_183\" style=\"word-spacing:-0.0256em;\">Write-down for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5889em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_128\">(75,300) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4602em;top:19.6657em;\"><span class=\"stl_277 stl_08 stl_661\">(78,101) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">Use of write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8533em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_391\">27,602 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5921em;top:20.6876em;\"><span class=\"stl_277 stl_08 stl_387\">46,031 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">Reversal of write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3989em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.5814em;top:21.7094em;\"><span class=\"stl_277 stl_08 stl_596\">42,592 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:22.7257em;\"><span class=\"stl_191 stl_15 stl_221\" style=\"word-spacing:-0.0311em;\">Write-down on inventory as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0921em;top:22.7257em;\"><span class=\"stl_191 stl_15 stl_427\">(224,615) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9271em;top:22.7257em;\"><span class=\"stl_191 stl_15 stl_549\">(162,419) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:24.3569em;\"><span class=\"stl_277 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">Cost of goods sold amounts to, cf. note 4 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9708em;top:24.3569em;\"><span class=\"stl_277 stl_08 stl_527\">1,608,263 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2071em;top:24.3569em;\"><span class=\"stl_277 stl_08 stl_160\">644,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:27.0532em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">The inventory value of Encepur and Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:27.8863em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0259em;\">products amounted to DKK 947.5 million (DKK 577.9 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:28.7194em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">million), Jynneos/Imvamune/Imvanex amounted to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:29.5525em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">DKK 286,8 million, and Vivotif and Vaxchora amounted \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:30.3857em;\"><span class=\"stl_532 stl_08 stl_217\" style=\"word-spacing:-0.0237em;\">to DKK 67,1 million as per December 31, 2023 incl. write- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:31.2188em;\"><span class=\"stl_532 stl_08 stl_177\">down. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:32.8857em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">Write-down for the year amounted to DKK 75.3 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:33.7188em;\"><span class=\"stl_532 stl_08 stl_88\" style=\"word-spacing:-0.0217em;\">(DKK 78.1 million) and mainly relates to write down \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:34.5519em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">of RSV material due to discontinuation of the RSV \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:35.385em;\"><span class=\"stl_532 stl_08 stl_278\">program. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:27.0519em;\"><span class=\"stl_532 stl_08 stl_87\" style=\"word-spacing:-0.0249em;\">Use of write-down in 2023 of DKK 27.6 million (DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:27.885em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">46 million) relates to scrap of old Rabipur and Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:28.7182em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">batches fully written down last year. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:30.385em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">As of December 31, 2023, the PPQ batches for chikun- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:31.2182em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">gunya has been fully written down. If the PPQ batches \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:32.0513em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">can be used for future commercial sale then the write- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:32.8844em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">down will be reversed at the time of expected approval \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:33.7175em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">of the chikungunya vaccine. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2373": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0233em;\">Inventories except for raw materials are measured \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_87\" style=\"word-spacing:-0.0249em;\">at the lower of cost using the weighted average cost \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">formula method less write-downs for obsolescence and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_87\" style=\"word-spacing:-0.0249em;\">net realisable value. Raw materials are measured at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">cost based on the FIFO method. For raw materials, cost \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">is determined as direct acquisition costs incurred. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">cost of finished goods produced in-house and work in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">progress includes raw materials, consumables, filling \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">cost, QC testing and direct payroll costs plus indirect \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0353em;\">costs of production. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">Indirect costs of production include indirect materials \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2037em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">and labour as well as maintenance of and depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">on the machinery used in production processes, factory \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8699em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0351em;\">buildings and equipment used and cost of production \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7031em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">administration and management. The net realisable \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5362em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">value is the estimated sales price in the ordinary course \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3693em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">of business less relevant sales costs determined on the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2024em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">basis of marketability, obsolescence and changes in the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0356em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">expected sales price. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2381": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_291\" style=\"word-spacing:0.009em;\">Note 19 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_126\" style=\"word-spacing:0.0186em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">Receivables are measured at initial recognition at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">value and subsequently at amortized value usually \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">equal to the nominal value, net of impairment based \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">on expected credit losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:9.8606em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">Write-downs are calculated using the \u2018full lifetime \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.6937em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">expected credit losses\u2019 method, whereby the likelihood \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.5268em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">of non-fulfilment throughout the lifetime of the finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.3599em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">cial instrument is taken into consideration. A provision \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.1931em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">account is used for this purpose. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.9744em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:15.9688em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:15.9688em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6588em;\"><span class=\"stl_277 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">Trade receivables from public preparedness business \u00a0</span></div><div class=\"stl_01\" style=\"left:29.9444em;top:17.6588em;\"><span class=\"stl_277 stl_08 stl_421\">1,660,604 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2657em;top:17.6588em;\"><span class=\"stl_277 stl_08 stl_104\">329,897 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.6806em;\"><span class=\"stl_277 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">Trade receivables from travel health business \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5082em;top:18.6806em;\"><span class=\"stl_277 stl_08 stl_296\">110,832 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3175em;top:18.6806em;\"><span class=\"stl_277 stl_08 stl_643\">167,332 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.7025em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">Trade receivables from contract work \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0913em;top:19.7025em;\"><span class=\"stl_277 stl_08 stl_60\">6,668 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.595em;top:19.7025em;\"><span class=\"stl_277 stl_08 stl_145\">25,916 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.7188em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:29.8113em;top:20.7188em;\"><span class=\"stl_191 stl_15 stl_613\">1,778,104 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1413em;top:20.7188em;\"><span class=\"stl_191 stl_15 stl_597\">523,145 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.0369em;\"><span class=\"stl_585 stl_15 stl_179\" style=\"word-spacing:-0.0345em;\">Credit risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.8756em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Bavarian Nordic\u2019s customers are predominantly public \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.7088em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">authorities and renowned wholesalers and therefore \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.5419em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0248em;\">the credit risk is very low. There are overdue receiva- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.375em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">bles as of December 31, 2023 DKK 51 million (DKK 40 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.2081em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0269em;\">million). As of December 31, 2023 a loss allowance of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.0413em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">DKK 3 million (DKK 1 million) has been recognized. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.7081em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">The Group has applied the simplified approach to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.5413em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">measure the expected credit loss and a lifetime \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.3744em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">expected loss allowance for all trade receivables.The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.2075em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">allowance is an estimate based on shared credit risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.0406em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">characteristics and the days past due. At the time of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.8738em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">revenue recognition, Bavarian Nordic assesses the full \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.7069em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">lifetime expected credit losses. In addition, undue and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.04em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">due receivables are analyzed in an ongoing process. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.8731em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Based on the credit assessment, receivables analysis, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.7063em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">historical experience and industry experience, it is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.5394em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">estimated whether the receivables are recoverable \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.3725em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">or write-downs are needed. Bavarian Nordic monitor \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.2056em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">the credit exposure on all customers, both new and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.0388em;\"><span class=\"stl_532 stl_08 stl_344\">existing. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.7056em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">Bavarian Nordic recognizes a loss allowance for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.5388em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">expected credit losses and writes off trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.3719em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">when there is information indicating that the debtor \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.205em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">is in severe financial difficulty and there is no realistic \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.0381em;\"><span class=\"stl_532 stl_08 stl_178\" style=\"word-spacing:-0.0241em;\">prospect of recovery.</span></div><div class=\"stl_01\" style=\"left:27.715em;top:33.0381em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Subsequent recovery of amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.8713em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">previously written down is credited against sales and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.7044em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">distribution costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:9.8556em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">The payment conditions for the customers, including \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:10.6888em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">credit periods and any payment of interest in case of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.5219em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">non-payment, vary, but are always based on industry \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.355em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">practice in the relevant market. The average credit \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:13.1881em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">period is approximately 30 days for the public prepar- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7482em;top:9.855em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">edness business, while the average credit period for \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7482em;top:10.6881em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">the travel health business is 60 days. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7482em;top:12.355em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">The table details the risk profile for trade receivables. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.458em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:58.917em;top:16.5392em;\"><span class=\"stl_191 stl_15 stl_35\">Gross \u00a0</span></div><div class=\"stl_01\" style=\"left:58.0864em;top:17.2892em;\"><span class=\"stl_191 stl_15 stl_471\">carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2277em;top:17.2892em;\"><span class=\"stl_191 stl_15 stl_54\">Loss \u00a0</span></div><div class=\"stl_01\" style=\"left:66.8339em;top:17.2892em;\"><span class=\"stl_191 stl_15 stl_76\" style=\"word-spacing:-0.0427em;\">Net carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.0449em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:58.2277em;top:18.0392em;\"><span class=\"stl_191 stl_15 stl_176\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:62.4883em;top:18.0392em;\"><span class=\"stl_191 stl_15 stl_78\">allowance \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1483em;top:18.0392em;\"><span class=\"stl_191 stl_15 stl_176\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.7236em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.7511em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Not past due date \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8402em;top:20.7511em;\"><span class=\"stl_277 stl_08 stl_596\">1,730,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2183em;top:20.7511em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.7614em;top:20.7511em;\"><span class=\"stl_277 stl_08 stl_596\">1,730,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.773em;\"><span class=\"stl_277 stl_08 stl_36\" style=\"word-spacing:-0.0226em;\">Overdue by 0-3 months \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7389em;top:21.773em;\"><span class=\"stl_277 stl_08 stl_557\">39,613 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2946em;top:21.773em;\"><span class=\"stl_277 stl_08 stl_663\">(191) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6064em;top:21.773em;\"><span class=\"stl_277 stl_08 stl_124\">39,422 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.7949em;\"><span class=\"stl_277 stl_08 stl_87\" style=\"word-spacing:-0.025em;\">Overdue by 3-6 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.0427em;top:22.7949em;\"><span class=\"stl_277 stl_08 stl_287\">8,188 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2602em;top:22.7949em;\"><span class=\"stl_277 stl_08 stl_284\">(539) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9533em;top:22.7949em;\"><span class=\"stl_277 stl_08 stl_391\">7,649 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.8167em;\"><span class=\"stl_277 stl_08 stl_272\" style=\"word-spacing:-0.012em;\">Overdue by 6-12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.0071em;top:23.8167em;\"><span class=\"stl_277 stl_08 stl_101\">2,755 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8089em;top:23.8167em;\"><span class=\"stl_277 stl_08 stl_584\">(1,768) \u00a0</span></div><div class=\"stl_01\" style=\"left:69.3964em;top:23.8167em;\"><span class=\"stl_277 stl_08 stl_272\">987 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:24.8386em;\"><span class=\"stl_277 stl_08 stl_40\" style=\"word-spacing:-0.0245em;\">Overdue by more than 12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4658em;top:24.8386em;\"><span class=\"stl_277 stl_08 stl_144\">729 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2246em;top:24.8386em;\"><span class=\"stl_277 stl_08 stl_324\">(729) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1789em;top:24.8386em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.8549em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6839em;top:25.8549em;\"><span class=\"stl_191 stl_15 stl_145\">1,781,331 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5846em;top:25.8549em;\"><span class=\"stl_191 stl_15 stl_341\">(3,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6064em;top:25.8549em;\"><span class=\"stl_191 stl_15 stl_151\">1,778,104 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:27.4736em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:28.5011em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Not past due date \u00a0</span></div><div class=\"stl_01\" style=\"left:58.3977em;top:28.5011em;z-index:2918;\"><span class=\"stl_277 stl_08 stl_175\">484</span><span class=\"stl_277 stl_08 stl_551\">,</span><span class=\"stl_277 stl_08 stl_319\">110 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:28.5011em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.3189em;top:28.5011em;z-index:2930;\"><span class=\"stl_277 stl_08 stl_175\">484</span><span class=\"stl_277 stl_08 stl_551\">,</span><span class=\"stl_277 stl_08 stl_319\">110 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:29.523em;\"><span class=\"stl_277 stl_08 stl_36\" style=\"word-spacing:-0.0226em;\">Overdue by 0-3 months \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7039em;top:29.523em;\"><span class=\"stl_277 stl_08 stl_296\">39,435 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2614em;top:29.523em;\"><span class=\"stl_277 stl_08 stl_628\">(823) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6096em;top:29.523em;\"><span class=\"stl_277 stl_08 stl_123\">38,612 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:30.5449em;\"><span class=\"stl_277 stl_08 stl_87\" style=\"word-spacing:-0.025em;\">Overdue by 3-6 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4946em;top:30.5449em;\"><span class=\"stl_277 stl_08 stl_343\">470 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5777em;top:30.5449em;\"><span class=\"stl_277 stl_08 stl_316\">(47) \u00a0</span></div><div class=\"stl_01\" style=\"left:69.3952em;top:30.5449em;\"><span class=\"stl_277 stl_08 stl_272\">423 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:31.5667em;\"><span class=\"stl_277 stl_08 stl_272\" style=\"word-spacing:-0.012em;\">Overdue by 6-12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:60.2571em;top:31.5667em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:31.5667em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:31.5667em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:32.5886em;\"><span class=\"stl_277 stl_08 stl_40\" style=\"word-spacing:-0.0245em;\">Overdue by more than 12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:60.2571em;top:32.5886em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:32.5886em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:32.5886em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:33.6049em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:58.1896em;top:33.6049em;\"><span class=\"stl_191 stl_15 stl_337\">524,015 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1715em;top:33.6049em;\"><span class=\"stl_191 stl_15 stl_297\">(870) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1565em;top:33.6049em;\"><span class=\"stl_191 stl_15 stl_597\">523,145 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_244\" style=\"word-spacing:0.0045em;\">Note 20 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_137\" style=\"word-spacing:0.0129em;\">Other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">Receivables are measured at initial recognition at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">value and subsequently at amortized value usually \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">equal to the nominal value, net of impairment, to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">counter the loss after an individual assessment of risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">of loss. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8077em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:16.8021em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:16.8021em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.4921em;\"><span class=\"stl_277 stl_08 stl_69\">Deposits \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8975em;top:18.4921em;\"><span class=\"stl_277 stl_08 stl_578\">11,185 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8888em;top:18.4921em;\"><span class=\"stl_277 stl_08 stl_562\">5,086 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.514em;\"><span class=\"stl_277 stl_08 stl_36\" style=\"word-spacing:-0.0226em;\">Receivable VAT and duties \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7588em;top:19.514em;\"><span class=\"stl_277 stl_08 stl_448\">46,585 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1625em;top:19.514em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:20.5358em;\"><span class=\"stl_277 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">Derivative financial instruments at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7775em;top:20.5358em;\"><span class=\"stl_277 stl_08 stl_378\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5813em;top:20.5358em;\"><span class=\"stl_277 stl_08 stl_95\">31,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:21.5577em;\"><span class=\"stl_277 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">Interest receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0863em;top:21.5577em;\"><span class=\"stl_277 stl_08 stl_59\">2,664 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6088em;top:21.5577em;\"><span class=\"stl_277 stl_08 stl_392\">11,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:22.574em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0347em;\">Other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3069em;top:22.574em;\"><span class=\"stl_191 stl_15 stl_244\">106,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4em;top:22.574em;\"><span class=\"stl_191 stl_15 stl_214\">48,349 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.1996em;\"><span class=\"stl_191 stl_15 stl_400\" style=\"word-spacing:-0.0338em;\">Classified as: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.2271em;\"><span class=\"stl_277 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">Non-current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8969em;top:25.2271em;\"><span class=\"stl_277 stl_08 stl_578\">11,185 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8882em;top:25.2271em;\"><span class=\"stl_277 stl_08 stl_562\">5,086 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.249em;\"><span class=\"stl_277 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">Current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8563em;top:26.249em;\"><span class=\"stl_277 stl_08 stl_560\">95,136 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5719em;top:26.249em;\"><span class=\"stl_277 stl_08 stl_187\">43,263 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.2652em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0347em;\">Other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3069em;top:27.2652em;\"><span class=\"stl_191 stl_15 stl_244\">106,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4em;top:27.2652em;\"><span class=\"stl_191 stl_15 stl_214\">48,349 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2382": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_291\" style=\"word-spacing:0.009em;\">Note 19 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_126\" style=\"word-spacing:0.0186em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">Receivables are measured at initial recognition at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">value and subsequently at amortized value usually \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">equal to the nominal value, net of impairment based \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">on expected credit losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:9.8606em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">Write-downs are calculated using the \u2018full lifetime \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.6937em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">expected credit losses\u2019 method, whereby the likelihood \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.5268em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">of non-fulfilment throughout the lifetime of the finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.3599em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">cial instrument is taken into consideration. A provision \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.1931em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">account is used for this purpose. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.9744em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:15.9688em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:15.9688em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6588em;\"><span class=\"stl_277 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">Trade receivables from public preparedness business \u00a0</span></div><div class=\"stl_01\" style=\"left:29.9444em;top:17.6588em;\"><span class=\"stl_277 stl_08 stl_421\">1,660,604 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2657em;top:17.6588em;\"><span class=\"stl_277 stl_08 stl_104\">329,897 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.6806em;\"><span class=\"stl_277 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">Trade receivables from travel health business \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5082em;top:18.6806em;\"><span class=\"stl_277 stl_08 stl_296\">110,832 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3175em;top:18.6806em;\"><span class=\"stl_277 stl_08 stl_643\">167,332 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.7025em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">Trade receivables from contract work \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0913em;top:19.7025em;\"><span class=\"stl_277 stl_08 stl_60\">6,668 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.595em;top:19.7025em;\"><span class=\"stl_277 stl_08 stl_145\">25,916 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.7188em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:29.8113em;top:20.7188em;\"><span class=\"stl_191 stl_15 stl_613\">1,778,104 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1413em;top:20.7188em;\"><span class=\"stl_191 stl_15 stl_597\">523,145 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.0369em;\"><span class=\"stl_585 stl_15 stl_179\" style=\"word-spacing:-0.0345em;\">Credit risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.8756em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Bavarian Nordic\u2019s customers are predominantly public \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.7088em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">authorities and renowned wholesalers and therefore \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.5419em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0248em;\">the credit risk is very low. There are overdue receiva- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.375em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">bles as of December 31, 2023 DKK 51 million (DKK 40 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.2081em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0269em;\">million). As of December 31, 2023 a loss allowance of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.0413em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">DKK 3 million (DKK 1 million) has been recognized. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.7081em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">The Group has applied the simplified approach to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.5413em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">measure the expected credit loss and a lifetime \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.3744em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">expected loss allowance for all trade receivables.The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.2075em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">allowance is an estimate based on shared credit risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.0406em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">characteristics and the days past due. At the time of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.8738em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">revenue recognition, Bavarian Nordic assesses the full \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.7069em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">lifetime expected credit losses. In addition, undue and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.04em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">due receivables are analyzed in an ongoing process. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.8731em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Based on the credit assessment, receivables analysis, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.7063em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">historical experience and industry experience, it is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.5394em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">estimated whether the receivables are recoverable \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.3725em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">or write-downs are needed. Bavarian Nordic monitor \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.2056em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">the credit exposure on all customers, both new and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.0388em;\"><span class=\"stl_532 stl_08 stl_344\">existing. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.7056em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">Bavarian Nordic recognizes a loss allowance for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.5388em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">expected credit losses and writes off trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.3719em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">when there is information indicating that the debtor \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.205em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">is in severe financial difficulty and there is no realistic \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.0381em;\"><span class=\"stl_532 stl_08 stl_178\" style=\"word-spacing:-0.0241em;\">prospect of recovery.</span></div><div class=\"stl_01\" style=\"left:27.715em;top:33.0381em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Subsequent recovery of amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.8713em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">previously written down is credited against sales and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.7044em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">distribution costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:9.8556em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">The payment conditions for the customers, including \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:10.6888em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">credit periods and any payment of interest in case of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.5219em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">non-payment, vary, but are always based on industry \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.355em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">practice in the relevant market. The average credit \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:13.1881em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">period is approximately 30 days for the public prepar- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7482em;top:9.855em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">edness business, while the average credit period for \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7482em;top:10.6881em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">the travel health business is 60 days. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7482em;top:12.355em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">The table details the risk profile for trade receivables. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.458em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:58.917em;top:16.5392em;\"><span class=\"stl_191 stl_15 stl_35\">Gross \u00a0</span></div><div class=\"stl_01\" style=\"left:58.0864em;top:17.2892em;\"><span class=\"stl_191 stl_15 stl_471\">carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2277em;top:17.2892em;\"><span class=\"stl_191 stl_15 stl_54\">Loss \u00a0</span></div><div class=\"stl_01\" style=\"left:66.8339em;top:17.2892em;\"><span class=\"stl_191 stl_15 stl_76\" style=\"word-spacing:-0.0427em;\">Net carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.0449em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:58.2277em;top:18.0392em;\"><span class=\"stl_191 stl_15 stl_176\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:62.4883em;top:18.0392em;\"><span class=\"stl_191 stl_15 stl_78\">allowance \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1483em;top:18.0392em;\"><span class=\"stl_191 stl_15 stl_176\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.7236em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.7511em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Not past due date \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8402em;top:20.7511em;\"><span class=\"stl_277 stl_08 stl_596\">1,730,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2183em;top:20.7511em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.7614em;top:20.7511em;\"><span class=\"stl_277 stl_08 stl_596\">1,730,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.773em;\"><span class=\"stl_277 stl_08 stl_36\" style=\"word-spacing:-0.0226em;\">Overdue by 0-3 months \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7389em;top:21.773em;\"><span class=\"stl_277 stl_08 stl_557\">39,613 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2946em;top:21.773em;\"><span class=\"stl_277 stl_08 stl_663\">(191) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6064em;top:21.773em;\"><span class=\"stl_277 stl_08 stl_124\">39,422 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.7949em;\"><span class=\"stl_277 stl_08 stl_87\" style=\"word-spacing:-0.025em;\">Overdue by 3-6 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.0427em;top:22.7949em;\"><span class=\"stl_277 stl_08 stl_287\">8,188 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2602em;top:22.7949em;\"><span class=\"stl_277 stl_08 stl_284\">(539) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9533em;top:22.7949em;\"><span class=\"stl_277 stl_08 stl_391\">7,649 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.8167em;\"><span class=\"stl_277 stl_08 stl_272\" style=\"word-spacing:-0.012em;\">Overdue by 6-12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.0071em;top:23.8167em;\"><span class=\"stl_277 stl_08 stl_101\">2,755 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8089em;top:23.8167em;\"><span class=\"stl_277 stl_08 stl_584\">(1,768) \u00a0</span></div><div class=\"stl_01\" style=\"left:69.3964em;top:23.8167em;\"><span class=\"stl_277 stl_08 stl_272\">987 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:24.8386em;\"><span class=\"stl_277 stl_08 stl_40\" style=\"word-spacing:-0.0245em;\">Overdue by more than 12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4658em;top:24.8386em;\"><span class=\"stl_277 stl_08 stl_144\">729 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2246em;top:24.8386em;\"><span class=\"stl_277 stl_08 stl_324\">(729) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1789em;top:24.8386em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.8549em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6839em;top:25.8549em;\"><span class=\"stl_191 stl_15 stl_145\">1,781,331 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5846em;top:25.8549em;\"><span class=\"stl_191 stl_15 stl_341\">(3,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6064em;top:25.8549em;\"><span class=\"stl_191 stl_15 stl_151\">1,778,104 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:27.4736em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:28.5011em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Not past due date \u00a0</span></div><div class=\"stl_01\" style=\"left:58.3977em;top:28.5011em;z-index:2918;\"><span class=\"stl_277 stl_08 stl_175\">484</span><span class=\"stl_277 stl_08 stl_551\">,</span><span class=\"stl_277 stl_08 stl_319\">110 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:28.5011em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.3189em;top:28.5011em;z-index:2930;\"><span class=\"stl_277 stl_08 stl_175\">484</span><span class=\"stl_277 stl_08 stl_551\">,</span><span class=\"stl_277 stl_08 stl_319\">110 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:29.523em;\"><span class=\"stl_277 stl_08 stl_36\" style=\"word-spacing:-0.0226em;\">Overdue by 0-3 months \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7039em;top:29.523em;\"><span class=\"stl_277 stl_08 stl_296\">39,435 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2614em;top:29.523em;\"><span class=\"stl_277 stl_08 stl_628\">(823) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6096em;top:29.523em;\"><span class=\"stl_277 stl_08 stl_123\">38,612 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:30.5449em;\"><span class=\"stl_277 stl_08 stl_87\" style=\"word-spacing:-0.025em;\">Overdue by 3-6 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4946em;top:30.5449em;\"><span class=\"stl_277 stl_08 stl_343\">470 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5777em;top:30.5449em;\"><span class=\"stl_277 stl_08 stl_316\">(47) \u00a0</span></div><div class=\"stl_01\" style=\"left:69.3952em;top:30.5449em;\"><span class=\"stl_277 stl_08 stl_272\">423 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:31.5667em;\"><span class=\"stl_277 stl_08 stl_272\" style=\"word-spacing:-0.012em;\">Overdue by 6-12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:60.2571em;top:31.5667em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:31.5667em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:31.5667em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:32.5886em;\"><span class=\"stl_277 stl_08 stl_40\" style=\"word-spacing:-0.0245em;\">Overdue by more than 12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:60.2571em;top:32.5886em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:32.5886em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:32.5886em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:33.6049em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:58.1896em;top:33.6049em;\"><span class=\"stl_191 stl_15 stl_337\">524,015 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1715em;top:33.6049em;\"><span class=\"stl_191 stl_15 stl_297\">(870) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1565em;top:33.6049em;\"><span class=\"stl_191 stl_15 stl_597\">523,145 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2383": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">Receivables are measured at initial recognition at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">value and subsequently at amortized value usually \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">equal to the nominal value, net of impairment based \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">on expected credit losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:9.8606em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">Write-downs are calculated using the \u2018full lifetime \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.6937em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">expected credit losses\u2019 method, whereby the likelihood \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.5268em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">of non-fulfilment throughout the lifetime of the finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.3599em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">cial instrument is taken into consideration. A provision \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.1931em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">account is used for this purpose. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">Receivables are measured at initial recognition at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">value and subsequently at amortized value usually \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">equal to the nominal value, net of impairment, to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">counter the loss after an individual assessment of risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">of loss. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2394": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:23.0369em;\"><span class=\"stl_585 stl_15 stl_179\" style=\"word-spacing:-0.0345em;\">Credit risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.8756em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Bavarian Nordic\u2019s customers are predominantly public \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.7088em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">authorities and renowned wholesalers and therefore \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.5419em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0248em;\">the credit risk is very low. There are overdue receiva- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.375em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">bles as of December 31, 2023 DKK 51 million (DKK 40 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.2081em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0269em;\">million). As of December 31, 2023 a loss allowance of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.0413em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">DKK 3 million (DKK 1 million) has been recognized. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.7081em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">The Group has applied the simplified approach to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.5413em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">measure the expected credit loss and a lifetime \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.3744em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">expected loss allowance for all trade receivables.The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.2075em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">allowance is an estimate based on shared credit risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.0406em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">characteristics and the days past due. At the time of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.8738em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">revenue recognition, Bavarian Nordic assesses the full \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.7069em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">lifetime expected credit losses. In addition, undue and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.04em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">due receivables are analyzed in an ongoing process. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.8731em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Based on the credit assessment, receivables analysis, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.7063em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">historical experience and industry experience, it is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.5394em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">estimated whether the receivables are recoverable \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.3725em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">or write-downs are needed. Bavarian Nordic monitor \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.2056em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">the credit exposure on all customers, both new and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.0388em;\"><span class=\"stl_532 stl_08 stl_344\">existing. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.7056em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">Bavarian Nordic recognizes a loss allowance for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.5388em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">expected credit losses and writes off trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.3719em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">when there is information indicating that the debtor \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.205em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">is in severe financial difficulty and there is no realistic \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.0381em;\"><span class=\"stl_532 stl_08 stl_178\" style=\"word-spacing:-0.0241em;\">prospect of recovery.</span></div><div class=\"stl_01\" style=\"left:27.715em;top:33.0381em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">Subsequent recovery of amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.8713em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">previously written down is credited against sales and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.7044em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">distribution costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:9.8556em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">The payment conditions for the customers, including \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:10.6888em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">credit periods and any payment of interest in case of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.5219em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">non-payment, vary, but are always based on industry \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.355em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">practice in the relevant market. The average credit \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:13.1881em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">period is approximately 30 days for the public prepar- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7482em;top:9.855em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">edness business, while the average credit period for \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7482em;top:10.6881em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">the travel health business is 60 days. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7482em;top:12.355em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">The table details the risk profile for trade receivables. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.7095em;\"><span class=\"stl_585 stl_15 stl_440\" style=\"word-spacing:-0.0389em;\">Credit risks \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.5483em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">The primary credit risk relates to trade receivables. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.3814em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">The Company assesses the expected credit losses \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.2145em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">also considering changes in the macro environment \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.0477em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">that might impose an increased risk of losses. This is \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.8808em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">compared to the previous model where indications \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.7139em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">of credit losses were needed for the Company to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.547em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">recognize an expected loss. The Group\u00b4s customers are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.3802em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">predominantly public authorities and renowned phar- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.2133em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">maceutical companies and wholesalers, and the credit \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.0464em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0259em;\">risk on the Group's receivables is therefore considered \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.8795em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">to be very low. A loss allowance of DKK 3,226 thou- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.7127em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">sand (DKK 870 thousand) has been recognized as of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:28.5458em;\"><span class=\"stl_532 stl_08 stl_479\" style=\"word-spacing:-0.0198em;\">December 31, 2023, cf. note 19. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:30.2127em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0256em;\">To manage credit risk regarding financial counterpar- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.0458em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">ties, Bavarian Nordic only enters into derivative finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.8789em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">cial contracts and money market deposits with financial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.712em;\"><span class=\"stl_532 stl_08 stl_190\" style=\"word-spacing:-0.0387em;\">counterparties possessing a satisfactory long-term credit \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:33.5452em;\"><span class=\"stl_532 stl_08 stl_377\" style=\"word-spacing:-0.0303em;\">rating from at least two out of the three selected ratings \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:34.3783em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">agencies: Standard and Poor\u2019s, Moody\u2019s and Fitch. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.0452em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0345em;\">Cash and cash equivalents are not deemed to be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.8783em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">subject to any special credit risk as they are deposited \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:37.7114em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">with Nordea. The bond portfolio is invested in either \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.2189em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">Danish government bonds, Danish mortgage bonds or \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">bonds issued by Danish banks with high ratings. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2415": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_562\" style=\"word-spacing:-0.0065em;\">Note 21 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_116\">Prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Prepayments recognized under assets include costs \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">paid in respect of subsequent financial years, including \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">incurred costs related to technology transfer activities \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">at CMO's, where the costs subsequently will be recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.2049em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">nized as inventory in concurrence with purchase of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0381em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">production services from the CMO's. Prepayments are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8712em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0253em;\">measured at cost. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.7946em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:16.789em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:16.789em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.479em;\"><span class=\"stl_277 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">Prepayments to CMO's \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1252em;top:18.479em;\"><span class=\"stl_277 stl_08 stl_378\">4,556 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2827em;top:18.479em;\"><span class=\"stl_277 stl_08 stl_121\">351,322 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:19.5009em;\"><span class=\"stl_277 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">Other prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.837em;top:19.5009em;\"><span class=\"stl_277 stl_08 stl_312\">18,510 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6789em;top:19.5009em;\"><span class=\"stl_277 stl_08 stl_664\">10,149 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.5171em;\"><span class=\"stl_191 stl_15 stl_174\">Prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6445em;top:20.5171em;\"><span class=\"stl_191 stl_15 stl_68\">23,066 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1152em;top:20.5171em;\"><span class=\"stl_191 stl_15 stl_62\">361,471 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:22.1427em;\"><span class=\"stl_191 stl_15 stl_400\" style=\"word-spacing:-0.0338em;\">Classified as: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:23.1702em;\"><span class=\"stl_277 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">Non-current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1258em;top:23.1702em;\"><span class=\"stl_277 stl_08 stl_378\">4,556 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3095em;top:23.1702em;\"><span class=\"stl_277 stl_08 stl_29\">207,537 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:24.1921em;\"><span class=\"stl_277 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8377em;top:24.1921em;\"><span class=\"stl_277 stl_08 stl_312\">18,510 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.287em;top:24.1921em;\"><span class=\"stl_277 stl_08 stl_134\">153,934 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:25.2084em;\"><span class=\"stl_191 stl_15 stl_174\">Prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6452em;top:25.2084em;\"><span class=\"stl_191 stl_15 stl_68\">23,066 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1158em;top:25.2084em;\"><span class=\"stl_191 stl_15 stl_62\">361,471 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:27.5321em;\"><span class=\"stl_532 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">Part of the technology transfer of the production and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:28.3652em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">packaging activities for Encepur and Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:29.1984em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">takes place at CMO's (filing of Encepur, labelling and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:30.0315em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">packing). Costs related to the technology transfer activ- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:30.8646em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">ities are recognized as prepayments when costs incur \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:31.6977em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0283em;\">and then recognized as inventory in concurrence with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:32.5309em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">purchase of production services from the CMO's. As per \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:33.364em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">December 31, 2023 DKK 4.6 million (DKK 14.9 million) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:34.1971em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">has been recognized as non-current prepayments. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:27.5302em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">As per December 31, 2022 the main part of the prepay- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:28.3634em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">ments to CMO's related to the scale-up activities to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:29.1965em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">prepare for production of drug substance for commer- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:30.0296em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">cial launch of ABNCoV2 incl. commercial batches \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:30.8627em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">produced as part of the process qualification process. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:31.6959em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">The prepayments were written-down following the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:32.529em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">announcement of the Phase 3 results for ABNCoV2, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:33.3621em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">see further see note 32. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2423": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_341\" style=\"word-spacing:-0.01em;\">Note 22 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_105\" style=\"word-spacing:0.0103em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Derivative financial instruments and liability relating \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">to phantom shares are measured at fair value. For \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">further details regarding measurement of fair value for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0256em;\">phantom shares see note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3718em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">Other financial liabilities are measured at initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">recognition at fair value less any transaction costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2049em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">Subsequent other financial liabilities are measured at \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0381em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">amortized cost using the effective interest method, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8712em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">whereby the difference between proceeds and the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7043em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">nominal value is recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5374em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">as a financial expense over the period. Amortized cost \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3706em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">usually equal to the nominal value. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.4744em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:18.4688em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:18.4688em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.1588em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">Financial instruments at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:20.1588em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.8907em;top:20.1588em;\"><span class=\"stl_277 stl_08 stl_335\">8,302 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.1806em;\"><span class=\"stl_277 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Liability relating to phantom shares \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:21.1806em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6857em;top:21.1806em;\"><span class=\"stl_277 stl_08 stl_665\">11,102 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.2025em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">Payable salaries, holiday accrual etc. \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5325em;top:22.2025em;\"><span class=\"stl_277 stl_08 stl_287\">212,122 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3094em;top:22.2025em;\"><span class=\"stl_277 stl_08 stl_418\">107,952 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.2244em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Gross to net deduction accrual \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5107em;top:23.2244em;\"><span class=\"stl_277 stl_08 stl_581\">159,802 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6175em;top:23.2244em;\"><span class=\"stl_277 stl_08 stl_667\">97,679 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.2463em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Other accrued costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8713em;top:24.2463em;\"><span class=\"stl_277 stl_08 stl_666\">47,919 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5763em;top:24.2463em;\"><span class=\"stl_277 stl_08 stl_553\">22,319 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.2681em;\"><span class=\"stl_277 stl_08 stl_217\" style=\"word-spacing:-0.0237em;\">Payable VAT and duties \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3825em;top:25.2681em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6069em;top:25.2681em;\"><span class=\"stl_277 stl_08 stl_276\">10,215 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:26.2844em;\"><span class=\"stl_191 stl_15 stl_215\" style=\"word-spacing:-0.0384em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3344em;top:26.2844em;\"><span class=\"stl_191 stl_15 stl_343\">419,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1113em;top:26.2844em;\"><span class=\"stl_191 stl_15 stl_162\">257,569 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:29.0806em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0354em;\">For a further description of financial instruments see \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:29.9138em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">note 23. The phantom share programs are described in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:30.7469em;\"><span class=\"stl_532 stl_08 stl_300\" style=\"word-spacing:-0.0188em;\">note 30. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2424": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_341\" style=\"word-spacing:-0.01em;\">Note 22 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_105\" style=\"word-spacing:0.0103em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Derivative financial instruments and liability relating \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">to phantom shares are measured at fair value. For \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">further details regarding measurement of fair value for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0256em;\">phantom shares see note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3718em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">Other financial liabilities are measured at initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">recognition at fair value less any transaction costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2049em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">Subsequent other financial liabilities are measured at \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0381em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">amortized cost using the effective interest method, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8712em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">whereby the difference between proceeds and the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7043em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">nominal value is recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5374em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">as a financial expense over the period. Amortized cost \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3706em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">usually equal to the nominal value. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.4744em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:18.4688em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:18.4688em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.1588em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">Financial instruments at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:20.1588em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.8907em;top:20.1588em;\"><span class=\"stl_277 stl_08 stl_335\">8,302 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.1806em;\"><span class=\"stl_277 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Liability relating to phantom shares \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:21.1806em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6857em;top:21.1806em;\"><span class=\"stl_277 stl_08 stl_665\">11,102 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.2025em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">Payable salaries, holiday accrual etc. \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5325em;top:22.2025em;\"><span class=\"stl_277 stl_08 stl_287\">212,122 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3094em;top:22.2025em;\"><span class=\"stl_277 stl_08 stl_418\">107,952 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.2244em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Gross to net deduction accrual \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5107em;top:23.2244em;\"><span class=\"stl_277 stl_08 stl_581\">159,802 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6175em;top:23.2244em;\"><span class=\"stl_277 stl_08 stl_667\">97,679 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.2463em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Other accrued costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8713em;top:24.2463em;\"><span class=\"stl_277 stl_08 stl_666\">47,919 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5763em;top:24.2463em;\"><span class=\"stl_277 stl_08 stl_553\">22,319 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.2681em;\"><span class=\"stl_277 stl_08 stl_217\" style=\"word-spacing:-0.0237em;\">Payable VAT and duties \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3825em;top:25.2681em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6069em;top:25.2681em;\"><span class=\"stl_277 stl_08 stl_276\">10,215 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:26.2844em;\"><span class=\"stl_191 stl_15 stl_215\" style=\"word-spacing:-0.0384em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3344em;top:26.2844em;\"><span class=\"stl_191 stl_15 stl_343\">419,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1113em;top:26.2844em;\"><span class=\"stl_191 stl_15 stl_162\">257,569 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:29.0806em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0354em;\">For a further description of financial instruments see \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:29.9138em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">note 23. The phantom share programs are described in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:30.7469em;\"><span class=\"stl_532 stl_08 stl_300\" style=\"word-spacing:-0.0188em;\">note 30. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2425": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_341\" style=\"word-spacing:-0.01em;\">Note 22 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_105\" style=\"word-spacing:0.0103em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Derivative financial instruments and liability relating \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">to phantom shares are measured at fair value. For \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">further details regarding measurement of fair value for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0256em;\">phantom shares see note 30. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3718em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">Other financial liabilities are measured at initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">recognition at fair value less any transaction costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2049em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">Subsequent other financial liabilities are measured at \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0381em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">amortized cost using the effective interest method, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8712em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">whereby the difference between proceeds and the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7043em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">nominal value is recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5374em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0329em;\">as a financial expense over the period. Amortized cost \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3706em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">usually equal to the nominal value. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.4744em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1938em;top:18.4688em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:18.4688em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.1588em;\"><span class=\"stl_277 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">Financial instruments at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:20.1588em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.8907em;top:20.1588em;\"><span class=\"stl_277 stl_08 stl_335\">8,302 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.1806em;\"><span class=\"stl_277 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Liability relating to phantom shares \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:21.1806em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6857em;top:21.1806em;\"><span class=\"stl_277 stl_08 stl_665\">11,102 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.2025em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">Payable salaries, holiday accrual etc. \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5325em;top:22.2025em;\"><span class=\"stl_277 stl_08 stl_287\">212,122 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3094em;top:22.2025em;\"><span class=\"stl_277 stl_08 stl_418\">107,952 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.2244em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Gross to net deduction accrual \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5107em;top:23.2244em;\"><span class=\"stl_277 stl_08 stl_581\">159,802 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6175em;top:23.2244em;\"><span class=\"stl_277 stl_08 stl_667\">97,679 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.2463em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Other accrued costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8713em;top:24.2463em;\"><span class=\"stl_277 stl_08 stl_666\">47,919 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5763em;top:24.2463em;\"><span class=\"stl_277 stl_08 stl_553\">22,319 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.2681em;\"><span class=\"stl_277 stl_08 stl_217\" style=\"word-spacing:-0.0237em;\">Payable VAT and duties \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3825em;top:25.2681em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.6069em;top:25.2681em;\"><span class=\"stl_277 stl_08 stl_276\">10,215 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:26.2844em;\"><span class=\"stl_191 stl_15 stl_215\" style=\"word-spacing:-0.0384em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3344em;top:26.2844em;\"><span class=\"stl_191 stl_15 stl_343\">419,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1113em;top:26.2844em;\"><span class=\"stl_191 stl_15 stl_162\">257,569 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:29.0806em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0354em;\">For a further description of financial instruments see \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:29.9138em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">note 23. The phantom share programs are described in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:30.7469em;\"><span class=\"stl_532 stl_08 stl_300\" style=\"word-spacing:-0.0188em;\">note 30. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2440": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_575\" style=\"word-spacing:-0.0095em;\">Note 23 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_373\" style=\"word-spacing:0.0062em;\">Financial risks and financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.1999em;\"><span class=\"stl_585 stl_15 stl_442\" style=\"word-spacing:-0.0373em;\">Derivative financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">On initial recognition, derivative financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">are measured at the fair value on the settlement date. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">Directly attributable costs related to the purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">or issuance of the individual financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">(transaction costs) are added to the fair value on initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">recognition, unless the financial asset or the financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">liability is measured at fair value with recognition of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">fair value adjustments in the income statement. Subse- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0263em;\">quently, they are measured at fair value at the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5368em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">sheet date based on the official exchange rates, market \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3699em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">interest rates and other market data such as volatility \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2031em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">adjusted for the special characteristics of each instru- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0362em;\"><span class=\"stl_532 stl_08 stl_192\">ment. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7031em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">Changes in the fair value of derivative financial instru- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5362em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">ments designated as and qualifying for recognition \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3693em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">as effective hedges of future transactions (cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2024em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0262em;\">hedges) are recognized as comprehensive income. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0356em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">The ineffective portion is recognized immediately in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8687em;\"><span class=\"stl_532 stl_08 stl_393\" style=\"word-spacing:-0.036em;\">the income statement. When the hedged transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7018em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">are realized, cumulative changes are recognized in the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5349em;z-index:2442;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">income statement together with the hedged transa</span><span class=\"stl_532 stl_08 stl_513\">c</span><span class=\"stl_532 stl_08 stl_513\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3681em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">tion or in respect of a non-financial item as part of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2012em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0345em;\">cost of the transactions in question. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2012em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">For derivative financial instruments that do not qualify \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0343em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">for hedge accounting, changes in fair value are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8674em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">nized as financials in the income statement as they \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7006em;\"><span class=\"stl_532 stl_08 stl_536\">occur. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3674em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">The Company has designated certain derivative finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.2006em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">cial instruments as cash flow hedges as defined under \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0337em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">IFRS 9 \"Financial Instruments\". Hedge accounting is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8668em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">classified as a cash flow hedge when the hedges of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.6999em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">a particular risk is associated with the cash flows of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.533em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0355em;\">highly probable forecast transactions. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1943em;\"><span class=\"stl_585 stl_15 stl_46\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.033em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">Securities consist of highly liquid, listed bonds with \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8662em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">high credit rating, which are measured at fair value on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.6993em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0283em;\">initial recognition and as of the balance sheet date. The \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5324em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">Group\u2019s portfolio of securities is treated as \"financial \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3656em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">items at fair value through profit or loss\", as the port- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.1987em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">folio is accounted for and valued on the basis of the fair \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.0318em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">value in compliance with the Company's investment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8649em;\"><span class=\"stl_532 stl_08 stl_59\">policy. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.5318em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Both realized and unrealized value adjustments are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3649em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">recognized in the income statement under financials. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.8563em;\"><span class=\"stl_191 stl_15 stl_278\" style=\"word-spacing:-0.0362em;\">Categories of financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.7657em;\"><span class=\"stl_277 stl_08 stl_87\" style=\"word-spacing:-0.025em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:64.047em;top:12.7657em;\"><span class=\"stl_277 stl_08 stl_279\">1,778,104 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3252em;top:12.7657em;\"><span class=\"stl_277 stl_08 stl_570\">523,145 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.6694em;\"><span class=\"stl_277 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">Other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7914em;top:13.6694em;\"><span class=\"stl_277 stl_08 stl_70\">60,434 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6083em;top:13.6694em;\"><span class=\"stl_277 stl_08 stl_121\">16,455 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5732em;\"><span class=\"stl_277 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Cash and cash equivalents \u00a0</span></div><div class=\"stl_01\" style=\"left:64.017em;top:14.5732em;\"><span class=\"stl_277 stl_08 stl_147\">1,477,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2545em;top:14.5732em;\"><span class=\"stl_277 stl_08 stl_117\">575,407 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:15.4713em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Financial assets measured at amortized cost \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7864em;top:15.4713em;\"><span class=\"stl_191 stl_15 stl_303\">3,315,772 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6502em;top:15.4713em;\"><span class=\"stl_191 stl_15 stl_289\">1,115,007 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:16.8663em;\"><span class=\"stl_277 stl_08 stl_278\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4827em;top:16.8663em;\"><span class=\"stl_277 stl_08 stl_244\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.817em;top:16.8663em;\"><span class=\"stl_277 stl_08 stl_157\">1,184,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:17.77em;\"><span class=\"stl_277 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Transferred securities that are not derecognized \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4002em;top:17.77em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.7883em;top:17.77em;\"><span class=\"stl_277 stl_08 stl_112\">1,084,916 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:18.6682em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3083em;top:18.6682em;\"><span class=\"stl_191 stl_15 stl_326\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6033em;top:18.6682em;\"><span class=\"stl_191 stl_15 stl_123\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:20.0632em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">Derivative financial instruments to hedge future cash flows (exchange rate) \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7889em;top:20.0632em;\"><span class=\"stl_277 stl_08 stl_321\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5927em;top:20.0632em;\"><span class=\"stl_277 stl_08 stl_387\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:20.9669em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flows (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.222em;top:20.9669em;\"><span class=\"stl_277 stl_08 stl_668\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9233em;top:20.9669em;\"><span class=\"stl_277 stl_08 stl_224\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:21.865em;\"><span class=\"stl_191 stl_15 stl_485\" style=\"word-spacing:-0.0382em;\">Financial assets used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6452em;top:21.865em;\"><span class=\"stl_191 stl_15 stl_68\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4583em;top:21.865em;\"><span class=\"stl_191 stl_15 stl_387\">31,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:23.26em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9977em;top:23.26em;\"><span class=\"stl_277 stl_08 stl_373\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7927em;top:23.26em;\"><span class=\"stl_277 stl_08 stl_136\">2,612,093 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:24.1638em;\"><span class=\"stl_277 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">Debt to credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8577em;top:24.1638em;\"><span class=\"stl_277 stl_08 stl_574\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6058em;top:24.1638em;\"><span class=\"stl_277 stl_08 stl_85\">18,930 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.742em;top:25.0675em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Security lending (repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4008em;top:25.0675em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.8664em;top:25.0675em;\"><span class=\"stl_277 stl_08 stl_552\">1,103,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:25.9713em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4002em;top:25.9713em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.2302em;top:25.9713em;\"><span class=\"stl_277 stl_08 stl_572\">566,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:26.875em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4639em;top:26.875em;\"><span class=\"stl_277 stl_08 stl_420\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6102em;top:26.875em;\"><span class=\"stl_277 stl_08 stl_121\">70,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:27.7788em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5339em;top:27.7788em;\"><span class=\"stl_277 stl_08 stl_265\">954,142 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2564em;top:27.7788em;\"><span class=\"stl_277 stl_08 stl_303\">605,928 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:28.6825em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5252em;top:28.6825em;\"><span class=\"stl_277 stl_08 stl_296\">419,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3045em;top:28.6825em;z-index:1007;\"><span class=\"stl_277 stl_08 stl_216\">238</span><span class=\"stl_277 stl_08 stl_551\">,</span><span class=\"stl_277 stl_08 stl_323\">165 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.5807em;\"><span class=\"stl_191 stl_15 stl_69\" style=\"word-spacing:-0.0352em;\">Financial liabilities measured at amortized cost \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7752em;top:29.5807em;\"><span class=\"stl_191 stl_15 stl_288\">3,896,276 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6014em;top:29.5807em;\"><span class=\"stl_191 stl_15 stl_121\">5,215,518 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:30.9757em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">Derivative financial instruments at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:31.8088em;\"><span class=\"stl_277 stl_08 stl_217\" style=\"word-spacing:-0.0237em;\">(repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4001em;top:31.8088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.9077em;top:31.8088em;\"><span class=\"stl_277 stl_08 stl_455\">8,302 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:32.7125em;\"><span class=\"stl_277 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Liability relating to phantom shares \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4001em;top:32.7125em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.7026em;top:32.7125em;\"><span class=\"stl_277 stl_08 stl_665\">11,102 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:33.6107em;\"><span class=\"stl_191 stl_15 stl_193\" style=\"word-spacing:-0.0349em;\">Financial liabilities measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3926em;top:33.6107em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.4658em;top:33.6107em;\"><span class=\"stl_191 stl_15 stl_150\">19,404 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.3283em;\"><span class=\"stl_585 stl_15 stl_385\" style=\"word-spacing:-0.0401em;\">Policy for managing financial risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.167em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">Through its operations, investments and financing the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0001em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Group is exposed to fluctuations in exchange rates and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8333em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">interest rates. These risks are managed centrally in the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.6664em;\"><span class=\"stl_532 stl_08 stl_178\" style=\"word-spacing:-0.0241em;\">Parent Company, which manages the Group\u00b4s liquidity. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.4995em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">The Group pursues a treasury policy approved by the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.3326em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Board of Directors. The policy operates with a low risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.1658em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">profile, so that exchange rate risks, interest rate risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.9989em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">and credit risks arise only in commercial relations. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.832em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">Group therefore does not undertake any active specula- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.6651em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">tion in financial risk. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.332em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">The Group\u00b4s capital structure is regularly assessed by \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.1651em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0246em;\">the Board of Directors relative to the Group\u00b4s cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.9983em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">position and cash flow budgets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.6595em;\"><span class=\"stl_585 stl_15 stl_176\" style=\"word-spacing:-0.0376em;\">Market risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:24.4983em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Market risk is the risk that changes in market prices \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.3314em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">will affect the Group\u2019s profit or the value of its holdings \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.1645em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">of financial instruments. Bavarian Nordic is exposed \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.9976em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">to various market risks with the main risks being \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.8308em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">exchange rate risks, interest rate risks and cash risks. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.6639em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">All market risks are managed in accordance with the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:29.497em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">treasury policy approved by the Audit Committee. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:31.1583em;\"><span class=\"stl_585 stl_15 stl_185\" style=\"word-spacing:-0.0285em;\">Interest rate risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:31.997em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">It is the Group's policy to hedge interest rate risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.8301em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">on loans obtained with floating rate and a maturity \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:33.6633em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">of more than five years. Hedging will then consist of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:34.4964em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">interest rate swaps that convert floating rate loans to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:35.3295em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0386em;\">fixed rate loans. Management determines the economic \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:36.1626em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">relationship between the hedged item and the hedging \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:36.9958em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">instrument to ensure a high hedge effectiveness. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:10.3289em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">The interest rate risk involved in placing cash funds \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:11.162em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">and investing in securities is managed on the basis of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:11.9951em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">duration, preferably via a low portfolio duration and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:12.8282em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">pari settlement of securities i order to minimize value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:13.6614em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">adjustment risks. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:15.3226em;\"><span class=\"stl_585 stl_15 stl_441\" style=\"word-spacing:-0.0379em;\">Exchange rate risks \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:16.1614em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0256em;\">The Group\u2019s exchange rate exposure is primarily to USD \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:16.9945em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">and EUR. The exchange rate exposure to USD is hedged \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:17.8276em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">to the greatest possible extent by matching incoming \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:18.6607em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">and outgoing payments denominated in USD, looking \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:19.4939em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">at maximum one year ahead. Regular assessments are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:20.327em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">made of whether the remaining net position should \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:21.1601em;\"><span class=\"stl_532 stl_08 stl_199\" style=\"word-spacing:-0.037em;\">be hedged by currency forward contracts or currency \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:21.9932em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.035em;\">option contracts. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:23.6601em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">The exposure to EUR is not hedged as management \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:24.4932em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">believes that fluctuations in EUR are limited due to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:25.3264em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">the Danish fixed-rate policy which is expected to be \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:26.1595em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">maintained. Thus the fluctuations in EUR do not have a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:26.9926em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0353em;\">significant impact on financial performance. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:28.6595em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">The sensitivity analysis shows the net effect it would \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:29.4926em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">have had on equity and profit for the year if the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:30.3257em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0253em;\">year-end exchange rates of USD, EUR and CHF had been \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:31.1589em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">15%, 1% or 5%, respectively, higher than the actual \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:31.992em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">exchange rates. A corresponding decrease in the actual \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:32.8251em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">exchange rates would have had an opposite (positive/ \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:33.6582em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0263em;\">negative) effect on net result and equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.3889em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.0359em;\">Exchange rate risks on recognized financial assets and liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:56.3158em;top:11.5289em;\"><span class=\"stl_191 stl_15 stl_393\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:55.1045em;top:12.2789em;\"><span class=\"stl_191 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">and cash \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0189em;top:13.0289em;\"><span class=\"stl_191 stl_15 stl_440\">equivalents, \u00a0</span></div><div class=\"stl_01\" style=\"left:69.3877em;top:13.0289em;\"><span class=\"stl_191 stl_15 stl_249\">Net \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7845em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:54.8502em;top:13.7789em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:0.9856em;\">securities Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:63.332em;top:13.7789em;\"><span class=\"stl_191 stl_15 stl_142\">Liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0345em;top:13.7789em;\"><span class=\"stl_191 stl_15 stl_248\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.4632em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.4907em;\"><span class=\"stl_277 stl_08 stl_393\">EUR \u00a0</span></div><div class=\"stl_01\" style=\"left:55.5614em;top:16.4907em;\"><span class=\"stl_277 stl_08 stl_413\">149,934 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.767em;top:16.4907em;\"><span class=\"stl_277 stl_08 stl_156\">455,057 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3727em;top:16.4907em;\"><span class=\"stl_277 stl_08 stl_168\">(2,679,716) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5845em;top:16.4907em;\"><span class=\"stl_277 stl_08 stl_114\">(2,074,725) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:17.5126em;\"><span class=\"stl_277 stl_08 stl_50\">USD \u00a0</span></div><div class=\"stl_01\" style=\"left:55.5264em;top:17.5126em;\"><span class=\"stl_277 stl_08 stl_97\">205,315 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.2764em;top:17.5126em;\"><span class=\"stl_277 stl_08 stl_224\">1,334,432 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8602em;top:17.5126em;\"><span class=\"stl_277 stl_08 stl_669\">(945,701) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2383em;top:17.5126em;\"><span class=\"stl_277 stl_08 stl_70\">594,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:18.5345em;\"><span class=\"stl_277 stl_08 stl_469\">CHF \u00a0</span></div><div class=\"stl_01\" style=\"left:55.8439em;top:18.5345em;\"><span class=\"stl_277 stl_08 stl_112\">10,281 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.3989em;top:18.5345em;\"><span class=\"stl_277 stl_08 stl_414\">4,649 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8377em;top:18.5345em;\"><span class=\"stl_277 stl_08 stl_670\">(181,627) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0627em;top:18.5345em;\"><span class=\"stl_277 stl_08 stl_110\">(166,697) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.1545em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:21.182em;\"><span class=\"stl_277 stl_08 stl_393\">EUR \u00a0</span></div><div class=\"stl_01\" style=\"left:55.4895em;top:21.182em;\"><span class=\"stl_277 stl_08 stl_326\">294,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.8452em;top:21.182em;\"><span class=\"stl_277 stl_08 stl_347\">355,193 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.357em;top:21.182em;\"><span class=\"stl_277 stl_08 stl_157\">(3,156,284) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5002em;top:21.182em;\"><span class=\"stl_277 stl_08 stl_232\">(2,506,884) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:22.2039em;\"><span class=\"stl_277 stl_08 stl_50\">USD \u00a0</span></div><div class=\"stl_01\" style=\"left:55.5633em;top:22.2039em;\"><span class=\"stl_277 stl_08 stl_355\">237,026 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.7314em;top:22.2039em;\"><span class=\"stl_277 stl_08 stl_414\">148,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8077em;top:22.2039em;\"><span class=\"stl_277 stl_08 stl_490\">(156,497) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2458em;top:22.2039em;\"><span class=\"stl_277 stl_08 stl_342\">228,783 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:23.2257em;\"><span class=\"stl_277 stl_08 stl_469\">CHF \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2308em;top:23.2257em;\"><span class=\"stl_277 stl_08 stl_655\">2,175 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.4189em;top:23.2257em;\"><span class=\"stl_277 stl_08 stl_48\">2,692 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1808em;top:23.2257em;\"><span class=\"stl_277 stl_08 stl_31\">(39,532) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3527em;top:23.2257em;\"><span class=\"stl_277 stl_08 stl_429\">(34,665) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.4489em;\"><span class=\"stl_191 stl_15 stl_69\" style=\"word-spacing:-0.0351em;\">Sensitivity analysis on exchange rates \u00a0</span></div><div class=\"stl_01\" style=\"left:58.1514em;top:26.5889em;\"><span class=\"stl_191 stl_15 stl_284\" style=\"word-spacing:-0.034em;\">Likely change</span></div><div class=\"stl_01\" style=\"left:66.704em;top:26.5889em;\"><span class=\"stl_191 stl_15 stl_93\" style=\"word-spacing:0.6074em;\">Hypothetical Hypothetical \u00a0</span></div><div class=\"stl_01\" style=\"left:58.3814em;top:27.3389em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0348em;\">in exchange \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3258em;top:27.3389em;\"><span class=\"stl_191 stl_15 stl_215\" style=\"word-spacing:-0.0383em;\">change in \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5777em;top:27.3389em;\"><span class=\"stl_191 stl_15 stl_215\" style=\"word-spacing:-0.0383em;\">change in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.0945em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7289em;top:28.0889em;\"><span class=\"stl_191 stl_15 stl_36\">rate \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2739em;top:28.0889em;\"><span class=\"stl_191 stl_15 stl_514\">equity \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6102em;top:28.0889em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">net result \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.7732em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:30.8007em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Change if higher USD-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7221em;top:30.8007em;\"><span class=\"stl_277 stl_08 stl_289\">15% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0583em;top:30.8007em;\"><span class=\"stl_277 stl_08 stl_354\">110,532 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2989em;top:30.8007em;\"><span class=\"stl_277 stl_08 stl_539\">118,270 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:31.8226em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Change if higher EUR-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0502em;top:31.8226em;\"><span class=\"stl_277 stl_08 stl_583\">1% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1739em;top:31.8226em;\"><span class=\"stl_277 stl_08 stl_284\">(19,347) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3839em;top:31.8226em;\"><span class=\"stl_277 stl_08 stl_358\">(21,505) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:32.8445em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Change if higher CHF-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0327em;top:32.8445em;\"><span class=\"stl_277 stl_08 stl_293\">5% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3864em;top:32.8445em;\"><span class=\"stl_277 stl_08 stl_565\">29,518 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8039em;top:32.8445em;\"><span class=\"stl_277 stl_08 stl_671\">(8,117) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:34.4645em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:35.492em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Change if higher USD-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7221em;top:35.492em;\"><span class=\"stl_277 stl_08 stl_289\">15% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3346em;top:35.492em;\"><span class=\"stl_277 stl_08 stl_599\">75,638 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5764em;top:35.492em;\"><span class=\"stl_277 stl_08 stl_326\">56,962 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:36.5139em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Change if higher EUR-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0496em;top:36.5139em;\"><span class=\"stl_277 stl_08 stl_583\">1% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0908em;top:36.5139em;\"><span class=\"stl_277 stl_08 stl_258\">(22,207) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4321em;top:36.5139em;\"><span class=\"stl_277 stl_08 stl_581\">(23,911) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:37.5357em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Change if higher CHF-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0327em;top:37.5357em;\"><span class=\"stl_277 stl_08 stl_293\">5% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.9614em;top:37.5357em;\"><span class=\"stl_277 stl_08 stl_613\">(583) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7271em;top:37.5357em;\"><span class=\"stl_277 stl_08 stl_138\">(1,004) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:10.0933em;\"><span class=\"stl_585 stl_15 stl_89\" style=\"word-spacing:-0.0358em;\">Derivative financial instruments not designated as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:10.9264em;\"><span class=\"stl_585 stl_15 stl_400\" style=\"word-spacing:-0.0338em;\">hedge accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:11.7652em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0345em;\">Currency forward contracts and currency option \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:12.5983em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">contracts which are not designated as hedge \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:13.4314em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">accounting are classified as financial assets/liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:14.2646em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">measured at fair value with value adjustments recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:15.0977em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">nized through the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:16.7646em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">There were no open currency contracts as of December \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:17.5977em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">31, 2023 or as per December 31, 2022 not designated as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:18.4308em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">hedge accounting. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:20.0921em;\"><span class=\"stl_585 stl_15 stl_248\" style=\"word-spacing:-0.0355em;\">Hedging of expected future cash flows \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:20.9308em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0353em;\">The Company has concluded currency forward contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:21.7639em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">to sell USD 210 million and to buy EUR 290 million (sell \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:22.5971em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">USD 75 million) to hedge net cash position during 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:23.4302em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">and 2025. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:25.0971em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0355em;\">These concluded currency forward contracts are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:25.9302em;\"><span class=\"stl_532 stl_08 stl_393\" style=\"word-spacing:-0.0361em;\">deemed to be effective hedges of future transaction \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:26.7633em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0246em;\">(cash flow hedges) and thus treated as hedge accon- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:27.5964em;\"><span class=\"stl_532 stl_08 stl_193\">ting. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:10.1558em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.0361em;\">Cash flow hedge \u2013 forward currency contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5754em;top:11.2958em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:41.0773em;top:12.0458em;\"><span class=\"stl_191 stl_15 stl_400\">Contract \u00a0</span></div><div class=\"stl_01\" style=\"left:50.0579em;top:12.0458em;\"><span class=\"stl_191 stl_15 stl_441\">adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:41.2192em;top:12.7958em;\"><span class=\"stl_191 stl_15 stl_417\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6148em;top:12.7958em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5136em;top:12.7958em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0306em;\">recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:40.8435em;top:13.5458em;\"><span class=\"stl_191 stl_15 stl_142\" style=\"word-spacing:-0.0364em;\">based on \u00a0</span></div><div class=\"stl_01\" style=\"left:47.0473em;top:13.5458em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:49.260em;top:13.5458em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0366em;\">other compre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:14.3014em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5673em;top:14.2958em;\"><span class=\"stl_191 stl_15 stl_69\" style=\"word-spacing:-0.0352em;\">Forward price \u00a0</span></div><div class=\"stl_01\" style=\"left:39.8198em;top:14.2958em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0302em;\">agreed rates \u00a0</span></div><div class=\"stl_01\" style=\"left:44.6542em;top:14.2958em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31</span></div><div class=\"stl_01\" style=\"left:48.953em;top:14.2958em;\"><span class=\"stl_191 stl_15 stl_672\" style=\"word-spacing:-0.0338em;\">hensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:15.9802em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Forward currency contracts (USD/DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4085em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_288\" style=\"word-spacing:-0.0017em;\">6.90 - 6.94 \u00a0</span></div><div class=\"stl_01\" style=\"left:40.6042em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_188\">1,454,570 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4673em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_500\">39,184 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7779em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_674\">9,159 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_159\" style=\"word-spacing:-0.0343em;\">Forward currency contracts (DKK/EUR) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.5423em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_673\" style=\"word-spacing:0.0673em;\">7.41 - 7.42 \u00a0</span></div><div class=\"stl_01\" style=\"left:40.7035em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_322\">2,150,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6904em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_361\">5,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6511em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_361\">5,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.2217em;top:19.0458em;\"><span class=\"stl_191 stl_15 stl_617\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2304em;top:19.0458em;\"><span class=\"stl_191 stl_15 stl_162\">14,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:20.6714em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:21.6989em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Forward currency contracts (USD/DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.0792em;top:21.6989em;\"><span class=\"stl_277 stl_08 stl_335\">543,454 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.386em;top:21.6989em;\"><span class=\"stl_277 stl_08 stl_387\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3467em;top:21.6989em;\"><span class=\"stl_277 stl_08 stl_228\">30,671 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.2479em;top:22.7152em;\"><span class=\"stl_191 stl_15 stl_431\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2079em;top:22.7152em;\"><span class=\"stl_191 stl_15 stl_431\">30,671 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7311em;top:24.9439em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0305em;\">Cash flow hedge \u2013 interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5742em;top:26.0839em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:41.0761em;top:26.8339em;\"><span class=\"stl_191 stl_15 stl_400\">Contract \u00a0</span></div><div class=\"stl_01\" style=\"left:50.0567em;top:26.8339em;\"><span class=\"stl_191 stl_15 stl_441\">adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:41.2179em;top:27.5839em;\"><span class=\"stl_191 stl_15 stl_417\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6135em;top:27.5839em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5123em;top:27.5839em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0306em;\">recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:40.8423em;top:28.3339em;\"><span class=\"stl_191 stl_15 stl_142\" style=\"word-spacing:-0.0364em;\">based on \u00a0</span></div><div class=\"stl_01\" style=\"left:47.0461em;top:28.3339em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:49.259em;top:28.3339em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0366em;\">other compre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7311em;top:29.0896em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:39.8186em;top:29.0839em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0302em;\">agreed rates \u00a0</span></div><div class=\"stl_01\" style=\"left:44.6529em;top:29.0839em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31</span></div><div class=\"stl_01\" style=\"left:48.951em;top:29.0839em;\"><span class=\"stl_191 stl_15 stl_672\" style=\"word-spacing:-0.0338em;\">hensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:30.7683em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:31.7902em;\"><span class=\"stl_191 stl_15 stl_185\" style=\"word-spacing:-0.0283em;\">Interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:32.8177em;\"><span class=\"stl_277 stl_08 stl_638\" style=\"word-spacing:-0.0135em;\">DKK - fixed rate 0.9625% p.a. (expiry 2031) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.4929em;top:32.8177em;\"><span class=\"stl_277 stl_08 stl_634\">17,041 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7923em;top:32.8177em;\"><span class=\"stl_277 stl_08 stl_668\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9592em;top:32.8177em;\"><span class=\"stl_277 stl_08 stl_97\">(766) \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6648em;top:33.8339em;\"><span class=\"stl_191 stl_15 stl_12\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8748em;top:33.8339em;\"><span class=\"stl_191 stl_15 stl_162\">(766) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7286em;top:35.4596em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7286em;top:36.4814em;\"><span class=\"stl_191 stl_15 stl_185\" style=\"word-spacing:-0.0283em;\">Interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7286em;top:37.5089em;\"><span class=\"stl_277 stl_08 stl_638\" style=\"word-spacing:-0.0135em;\">DKK - fixed rate 0.9625% p.a. (expiry 2031) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5429em;top:37.5089em;\"><span class=\"stl_277 stl_08 stl_675\">19,192 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7136em;top:37.5089em;\"><span class=\"stl_277 stl_08 stl_224\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6936em;top:37.5089em;\"><span class=\"stl_277 stl_08 stl_302\">2,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5917em;top:38.5252em;\"><span class=\"stl_191 stl_15 stl_388\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5729em;top:38.5252em;\"><span class=\"stl_191 stl_15 stl_140\">2,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:10.1008em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0339em;\">In 2016 the Company refinanced the old mortgage loans \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:10.9339em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">(fixed rate) and obtained a new mortgage loan with \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.7671em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">floating rate. The Company also concluded an interest \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.6002em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">rate swap to convert the floating rate loan to a fixed \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:13.4333em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">rate loan. The interest rate swap has the same maturity \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:14.2664em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">date and nominal amount as the mortgage loan to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:15.0996em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">secure high effectiveness of the hedge. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.7608em;\"><span class=\"stl_585 stl_15 stl_80\" style=\"word-spacing:-0.0434em;\">Cash risks \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.5996em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">The Group\u00b4s bank deposits are placed in deposit \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:18.4327em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">accounts without restrictions. The Group's cash and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:19.2658em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">cash equivalents totaled DKK 1,477.2 million as of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:20.0989em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">December 31, 2023 (DKK 575.4 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:21.7658em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">The Group's fixed rate bond portfolio expires as shown \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:22.5989em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">below. Amounts are stated excluding interest. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.03em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.9063em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_201\" style=\"word-spacing:-0.0296em;\">Fair value as of \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_61\" style=\"word-spacing:1.0723em;\">Effective Fair</span></div><div class=\"stl_01\" style=\"left:28.280em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_248\" style=\"word-spacing:-0.0353em;\">value as of \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8707em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_93\">Effective \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.2289em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:17.49em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:23.9669em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_51\">interest \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6607em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0257em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1376em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_51\">interest \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:13.9077em;\"><span class=\"stl_191 stl_15 stl_79\" style=\"word-spacing:-0.0427em;\">Bond portfolio \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_307\" style=\"word-spacing:-0.0165em;\">Within 0-2 years \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1869em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_648\">230,192 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.8863em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_155\">3.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8013em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_129\">1,226,652 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0557em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_125\">3.4% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_186\" style=\"word-spacing:-0.0235em;\">Within 3-5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.0432em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.0038em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:29.2732em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_70\">492,898 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0438em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_303\">3.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_43\" style=\"word-spacing:-0.0267em;\">After 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1388em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_49\">160,055 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.865em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_378\">3.2% \u00a0</span></div><div class=\"stl_01\" style=\"left:29.28em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_455\">550,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0569em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_146\">3.7% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:18.95em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_326\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.76em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_254\">3.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:28.625em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_137\">2,269,758 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9313em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_254\">3.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:20.3189em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Fluctuations in interest rate levels affect the Group's \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:21.152em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">bond portfolio. A change in the interest rate level by 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:21.9852em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0235em;\">percentage point relative to the interest rate level on \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:22.8183em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">the balance sheet date will have an impact of DKK 13.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:23.6514em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">million on the Group\u00b4s net result and equity (DKK 73.3 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:24.4845em;\"><span class=\"stl_532 stl_08 stl_257\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:26.1514em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">The bond position with a duration of more than 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:26.9845em;\"><span class=\"stl_532 stl_08 stl_217\" style=\"word-spacing:-0.0238em;\">is a result of previous year's investment strategy. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:27.8177em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.033em;\">Group is in process of adapting the bond portfolio to the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:28.6508em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">amended investment strategy with the aim of reducing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:29.4839em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">the duration of the portfolio. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0347em;\">Maturity of financial liabilities (including interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6994em;top:11.1189em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.0457em;top:12.3183em;\"><span class=\"stl_191 stl_15 stl_443\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:23.075em;top:12.3183em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9594em;top:12.3183em;\"><span class=\"stl_191 stl_15 stl_176\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.0739em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4175em;top:13.0683em;\"><span class=\"stl_191 stl_15 stl_186\" style=\"word-spacing:-0.0233em;\">1 year</span></div><div class=\"stl_01\" style=\"left:23.080em;top:13.0683em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0307em;\">1 and 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5769em;top:13.0683em;\"><span class=\"stl_191 stl_15 stl_183\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:13.0683em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.7583em;\"><span class=\"stl_277 stl_08 stl_39\" style=\"word-spacing:-0.0231em;\">Deferred consideration</span><sup style=\"top: -0.208em;\"><span class=\"stl_367 stl_08 stl_340\" style=\"word-spacing:-0.0396em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:19.5667em;top:14.7584em;\"><span class=\"stl_277 stl_08 stl_677\">1,394,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.2954em;top:14.7584em;\"><span class=\"stl_277 stl_08 stl_173\">1,082,525 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4386em;top:14.7584em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.7748em;top:14.7584em;\"><span class=\"stl_277 stl_08 stl_293\">2,477,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7242em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:20.7167em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_420\">2,720 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1429em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_124\">10,698 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2948em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_678\">7,167 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5498em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_320\">20,586 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7242em;top:16.8021em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Prepayment and loan from Government</span><sup style=\"top: -0.2077em;\"><span class=\"stl_367 stl_08 stl_676\" style=\"word-spacing:-0.0538em;\">2 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:21.9897em;top:16.8026em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.7141em;top:16.8026em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4385em;top:16.8026em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1629em;top:16.8026em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.406em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_224\">45,679 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1041em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_429\">93,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6685em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_291\">166 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3204em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_679\">139,413 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:20.126em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_597\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7141em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4385em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2991em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_597\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.1322em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_630\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7141em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4385em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.3054em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_630\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_215\" style=\"word-spacing:-0.038em;\">Non-derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:19.3241em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_81\">2,842,528 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.161em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_276\">1,186,791 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.1035em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_355\">7,333 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5304em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_455\">4,036,652 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6979em;top:22.877em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.0454em;top:24.0764em;\"><span class=\"stl_191 stl_15 stl_443\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:23.074em;top:24.0764em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9591em;top:24.0764em;\"><span class=\"stl_191 stl_15 stl_442\" style=\"word-spacing:-0.0373em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:24.832em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4172em;top:24.8264em;\"><span class=\"stl_191 stl_15 stl_186\" style=\"word-spacing:-0.0233em;\">1 year</span></div><div class=\"stl_01\" style=\"left:23.079em;top:24.8264em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0307em;\">1 and 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5766em;top:24.8264em;\"><span class=\"stl_191 stl_15 stl_183\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:34.971em;top:24.8264em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:26.5164em;\"><span class=\"stl_277 stl_08 stl_39\" style=\"word-spacing:-0.0231em;\">Deferred consideration</span><sup style=\"top: -0.2067em;\"><span class=\"stl_367 stl_08 stl_494\" style=\"word-spacing:-0.0397em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:20.0825em;top:26.5178em;\"><span class=\"stl_277 stl_08 stl_161\">297,460 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3406em;top:26.5178em;\"><span class=\"stl_277 stl_08 stl_162\">2,506,101 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4388em;top:26.5178em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.7494em;top:26.5178em;\"><span class=\"stl_277 stl_08 stl_225\">2,803,561 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:19.6656em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_681\">1,103,003 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1456em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_123\">10,355 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.1988em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_343\">9,423 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8313em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_574\">1,122,781 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:28.5615em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">Prepayment and loan from Government</span><sup style=\"top: -0.2076em;\"><span class=\"stl_367 stl_08 stl_680\" style=\"word-spacing:-0.0536em;\">2 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:21.9897em;top:28.562em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:24.8797em;top:28.562em;\"><span class=\"stl_277 stl_08 stl_654\">519,932 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.8516em;top:28.562em;\"><span class=\"stl_277 stl_08 stl_387\">70,503 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2429em;top:28.562em;\"><span class=\"stl_277 stl_08 stl_187\">590,435 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.3879em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_455\">24,487 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1129em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_326\">45,834 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4391em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.5941em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_121\">70,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7254em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:20.0679em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_303\">605,928 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7154em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4397em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.241em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_303\">605,928 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7254em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.0747em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_99\">265,775 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7147em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4391em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2479em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_99\">265,775 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_215\" style=\"word-spacing:-0.038em;\">Non-derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:19.3422em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_512\">2,296,653 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.0654em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_260\">3,082,222 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7535em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_558\">79,926 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5122em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_272\">5,458,801 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.1698em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:34.1322em;\"><span class=\"stl_74 stl_08 stl_682\" style=\"word-spacing:-0.0464em;\">Further explained in note 24. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.8713em;\"><span class=\"stl_370 stl_08 stl_24\">2</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:34.8337em;\"><span class=\"stl_74 stl_08 stl_86\" style=\"word-spacing:-0.0494em;\">Further explained in note 25. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2189em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Financial liabilities due within one year DKK 2,824 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">million (DKK 2,297 million) is expected to be settled \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">with short term assets recognized as of December 31, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">2023, consisting of cash and cash equivalents, securities \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5514em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">together with trade receivables and other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.3845em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">to a total of DKK 3,706 million (DKK 3,385 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0514em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0249em;\">The financial liabilities due after one year, DKK 1,194 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.8845em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">million (DKK 3,162 million) is expected to be settled \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.7177em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">with the excess short-term assets of DKK 882 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.5508em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">(DKK 1,088 million) in conjunction with expected cash \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.3839em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">flow from future operations. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.0508em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">To further mitigate potential liquidity fluctuations, the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.8839em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">Group has in 2023 obtained access to a Revolving Credit \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.717em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Facility of DKK 1,000 million. The facility was undrawn \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.5502em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">as of December 31, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.217em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">With respect to the Group\u00b4s debt to credit institutions, a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.0502em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">change in the applicable interest rate by 1 percentage \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.8833em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">point would have had an impact on the Group's net \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.7164em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">result and equity of DKK 0.2 million (DKK 0.2 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.3833em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">During 2023 the Company fulfilled all existing repo loan \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:30.2164em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">contracts (security lending) without entering into new \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.0495em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">contract. The position is therefore reduced to DKK 0 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.8827em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0246em;\">million by the end of 2023 (DKK 1,104 million). Further \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:32.7158em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">described below. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:34.3827em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0247em;\">Debt to credit institutions is a mortgage loan of DKK 17.1 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:35.2158em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">million (DKK 18.9 million), further described in note 26. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.8827em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">The Group has a credit facility of DKK 20 million (DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:37.7158em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">20 million) at Nordea. As of December 31, 2023, DKK 0.3 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:10.2158em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">million (DKK 0.2 million) of the credit facility is utilized \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.0489em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0337em;\">for bank guarantees. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.7158em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">To mitigate potential liquitity fluctuations, the group \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.5489em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">has in 2023 obtained access to a Revolving Credit \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.382em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">Facility of DKK 1,000 million with Nordea and Danske \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.2152em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">Bank as joint lenders. The facility was undrawn as of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.0483em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">December 31, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.7095em;\"><span class=\"stl_585 stl_15 stl_440\" style=\"word-spacing:-0.0389em;\">Credit risks \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.5483em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">The primary credit risk relates to trade receivables. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.3814em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">The Company assesses the expected credit losses \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.2145em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">also considering changes in the macro environment \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.0477em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">that might impose an increased risk of losses. This is \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.8808em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">compared to the previous model where indications \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.7139em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">of credit losses were needed for the Company to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.547em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">recognize an expected loss. The Group\u00b4s customers are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.3802em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">predominantly public authorities and renowned phar- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.2133em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">maceutical companies and wholesalers, and the credit \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.0464em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0259em;\">risk on the Group's receivables is therefore considered \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.8795em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">to be very low. A loss allowance of DKK 3,226 thou- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.7127em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">sand (DKK 870 thousand) has been recognized as of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:28.5458em;\"><span class=\"stl_532 stl_08 stl_479\" style=\"word-spacing:-0.0198em;\">December 31, 2023, cf. note 19. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:30.2127em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0256em;\">To manage credit risk regarding financial counterpar- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.0458em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">ties, Bavarian Nordic only enters into derivative finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.8789em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">cial contracts and money market deposits with financial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.712em;\"><span class=\"stl_532 stl_08 stl_190\" style=\"word-spacing:-0.0387em;\">counterparties possessing a satisfactory long-term credit \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:33.5452em;\"><span class=\"stl_532 stl_08 stl_377\" style=\"word-spacing:-0.0303em;\">rating from at least two out of the three selected ratings \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:34.3783em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">agencies: Standard and Poor\u2019s, Moody\u2019s and Fitch. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.0452em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0345em;\">Cash and cash equivalents are not deemed to be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.8783em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">subject to any special credit risk as they are deposited \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:37.7114em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">with Nordea. The bond portfolio is invested in either \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.2189em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">Danish government bonds, Danish mortgage bonds or \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">bonds issued by Danish banks with high ratings. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.5677em;\"><span class=\"stl_585 stl_15 stl_385\" style=\"word-spacing:-0.0401em;\">Managing capital structure \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.3858em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">In 2023 the Group has expanded its definition of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.1983em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">capital from total equity alone to also include net \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.0108em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">interest-bearing debt. This change accommodates the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.8233em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">introduction of external capital as a resource for the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.6358em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Group in accordance with the conclusion of a committed \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.4483em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0255em;\">Revolving Credit Facility, see further below. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.9695em;\"><span class=\"stl_532 stl_08 stl_178\" style=\"word-spacing:-0.0242em;\">As of December 31, 2023 (December 31, 2022) net inter- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:19.782em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">est-bearing debt consists of deferred consideration, cf. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.5945em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">note 24, prepayment and loan from government, cf. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.407em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0262em;\">note 25, debt to credit institutions, cf. note 26, lease \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:22.2195em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">liabilities, cf. note 28 with subtraction of cash and cash \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.032em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">equivalents together with securities, net debt DKK 655 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.8445em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">million (DKK 1,526 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.3658em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">Total equity as of December 31, 2023, amounted to DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.1783em;\"><span class=\"stl_532 stl_08 stl_448\" style=\"word-spacing:-0.0172em;\">10,340 million (DKK 7,150 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.6995em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">The Group has in 2023 obtained access to a committed \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.512em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">Revolving Credit Facility (RCF) of DKK 1,000 million with \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:29.3245em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Nordea and Danske Bank as joint lenders. The facility \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:30.137em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">was undrawn as of December 31, 2023. As an integrated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:30.9495em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">part of the RCF agreement, the Group is subject to cove- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:31.762em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">nant requirements consisting of a net interest-bearing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.5745em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">debt to EBITDA ratio. The Group regularly secures that \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:33.387em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0262em;\">compliance with the covenant is met. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:34.9083em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Management regularly assesses whether the Group\u00b4s \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:35.7208em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">capital structure best serves the interests of the Group \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:36.5333em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">and its shareholders. The overall goal is to ensure that \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:37.3458em;\"><span class=\"stl_532 stl_08 stl_199\" style=\"word-spacing:-0.0371em;\">the Group has a capital structure which supports its \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:38.1583em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">long-term strategy and growth target. In supporting \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_374\" style=\"word-spacing:-0.0315em;\">Transferred financial assets that are not derecognized \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:11.3739em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:48.3198em;top:11.3683em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9792em;top:11.3683em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:12.9289em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0361em;\">Carrying amount of transferred securities \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5092em;top:12.9289em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.7792em;top:12.9289em;\"><span class=\"stl_277 stl_08 stl_112\">1,084,916 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:13.8445em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Carrying amount of associated liabilities (security lending) \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5092em;top:13.8445em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.6879em;top:13.8445em;\"><span class=\"stl_277 stl_08 stl_579\">(1,103,661) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:14.7545em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0349em;\">Net position \u00a0</span></div><div class=\"stl_01\" style=\"left:49.501em;top:14.7545em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.276em;top:14.7545em;\"><span class=\"stl_191 stl_15 stl_349\">(18,745) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:16.5227em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Fair value hierarchy for financial instruments measured at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6635em;top:16.5227em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:17.7277em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:44.0417em;top:17.722em;\"><span class=\"stl_191 stl_15 stl_66\" style=\"word-spacing:-0.018em;\">Level 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.7029em;top:17.722em;\"><span class=\"stl_191 stl_15 stl_66\" style=\"word-spacing:-0.018em;\">Level 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9785em;top:17.722em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:19.2827em;\"><span class=\"stl_277 stl_08 stl_278\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:43.9292em;top:19.2827em;\"><span class=\"stl_277 stl_08 stl_244\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5085em;top:19.2827em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2517em;top:19.2827em;\"><span class=\"stl_277 stl_08 stl_244\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:20.1927em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:43.7548em;top:20.1927em;\"><span class=\"stl_191 stl_15 stl_326\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:49.501em;top:20.1927em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.0779em;top:20.1927em;\"><span class=\"stl_191 stl_15 stl_326\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:21.6114em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Derivative financial instruments to hedge future cash flow (currency) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8473em;top:21.6114em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.8973em;top:21.6114em;\"><span class=\"stl_277 stl_08 stl_321\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5585em;top:21.6114em;\"><span class=\"stl_277 stl_08 stl_321\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:22.527em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flow (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8467em;top:22.527em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.3298em;top:22.527em;\"><span class=\"stl_277 stl_08 stl_668\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.991em;top:22.527em;\"><span class=\"stl_277 stl_08 stl_668\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:23.437em;\"><span class=\"stl_191 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">Financial assets/liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8392em;top:23.437em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.7523em;top:23.437em;\"><span class=\"stl_191 stl_15 stl_68\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4135em;top:23.437em;\"><span class=\"stl_191 stl_15 stl_68\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.661em;top:25.2052em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:26.4102em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:44.0404em;top:26.4045em;\"><span class=\"stl_191 stl_15 stl_66\" style=\"word-spacing:-0.018em;\">Level 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.7017em;top:26.4045em;\"><span class=\"stl_191 stl_15 stl_66\" style=\"word-spacing:-0.018em;\">Level 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9773em;top:26.4045em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:27.9845em;\"><span class=\"stl_277 stl_08 stl_278\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:43.4873em;top:27.9845em;\"><span class=\"stl_277 stl_08 stl_302\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5079em;top:27.9845em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.8104em;top:27.9845em;\"><span class=\"stl_277 stl_08 stl_302\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:28.8945em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2698em;top:28.8945em;\"><span class=\"stl_191 stl_15 stl_123\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5004em;top:28.8945em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.5923em;top:28.8945em;\"><span class=\"stl_191 stl_15 stl_123\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:30.3133em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Derivative financial instruments to hedge future cash flow (currency) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.846em;top:30.3133em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.9204em;top:30.3133em;\"><span class=\"stl_277 stl_08 stl_387\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5817em;top:30.3133em;\"><span class=\"stl_277 stl_08 stl_387\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:31.2289em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flow (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.846em;top:31.2289em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.2504em;top:31.2289em;\"><span class=\"stl_277 stl_08 stl_224\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9117em;top:31.2289em;\"><span class=\"stl_277 stl_08 stl_224\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:32.1389em;\"><span class=\"stl_191 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">Financial assets/liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8379em;top:32.1389em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.7848em;top:32.1389em;\"><span class=\"stl_191 stl_15 stl_387\">31,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.446em;top:32.1389em;\"><span class=\"stl_191 stl_15 stl_387\">31,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:33.5577em;\"><span class=\"stl_277 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Derivative financial instruments at fair value (repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8448em;top:33.5577em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.0542em;top:33.5577em;\"><span class=\"stl_277 stl_08 stl_138\">(8,302) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7154em;top:33.5577em;\"><span class=\"stl_277 stl_08 stl_138\">(8,302) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:34.4733em;\"><span class=\"stl_277 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Liability relating to phantom shares \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8448em;top:34.4733em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.8517em;top:34.4733em;\"><span class=\"stl_277 stl_08 stl_683\">(11,102) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5129em;top:34.4733em;\"><span class=\"stl_277 stl_08 stl_683\">(11,102) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7285em;top:35.3833em;\"><span class=\"stl_191 stl_15 stl_248\" style=\"word-spacing:-0.0354em;\">Financial liabilities measured at fair value through \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7285em;top:36.2164em;\"><span class=\"stl_191 stl_15 stl_69\" style=\"word-spacing:-0.0352em;\">the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8367em;top:36.2164em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.5829em;top:36.2164em;\"><span class=\"stl_191 stl_15 stl_157\">(19,404) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2442em;top:36.2164em;\"><span class=\"stl_191 stl_15 stl_157\">(19,404) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:10.2183em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">this goal and to maintain the capital structure, the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:11.0308em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">Group can issue new shares, return capital to share- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:11.8433em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">holders, sell assets to reduce debt or increase the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:12.6558em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">groups debt obligations, including taking on bank debt \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:13.4683em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">and by way of deferred consideration, provided finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:14.2808em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">cial covenants are respected. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:15.7964em;\"><span class=\"stl_585 stl_15 stl_422\" style=\"word-spacing:-0.0314em;\">Transferred financial assets that are not derecognized \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:16.6145em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">In 2022 the Company entered into transactions that \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:17.427em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">transfer ownership of securities to a counterparty, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:18.2395em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">while the Company retains the risks associated with \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:19.052em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">the holding of the securities. As the Company retains \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:19.8645em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">all risks, the securities remain in the balance sheet, and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:20.677em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">the transactions are accounted for as loans received \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:21.4895em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">against collateral (repo transactions and security \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:22.302em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">lending). The transactions involve selling the securities \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:23.1145em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0252em;\">to be repurchased at a fixed price at a later date. Coun- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:23.927em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">terparties are entitled to sell the securities or deposit \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:24.7395em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">them as collateral for loans. These agreements has \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:25.552em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">been fulfilled and terminated during 2023, why no such \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:26.3645em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">arrangements exists as of December 31, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:27.8802em;\"><span class=\"stl_585 stl_15 stl_18\" style=\"word-spacing:-0.0301em;\">Securities (level 1) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:28.6983em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0355em;\">The portfolio of publicly traded government bonds, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:29.5108em;\"><span class=\"stl_532 stl_08 stl_176\" style=\"word-spacing:-0.0376em;\">publicly traded mortgage bonds and bank bonds is \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:30.3233em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">valued at listed prices and price quotas. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:31.8389em;\"><span class=\"stl_585 stl_15 stl_280\" style=\"word-spacing:-0.0341em;\">Derivative financial instruments (level 2) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:32.657em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0343em;\">Currency forward contracts, currency option contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:33.4695em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">and currency swap contracts are valued according to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:34.282em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">generally accepted valuation methods based on rele- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:35.0945em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0354em;\">vant observable swap curves and exchange rates. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:36.6158em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Liability relating to phantom shares is determined using \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:37.4283em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">the Black-Scholes. The valuation is based on observable \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:38.2408em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0252em;\">share price, interest rates and volatility rates. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2441": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_575\" style=\"word-spacing:-0.0095em;\">Note 23 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_373\" style=\"word-spacing:0.0062em;\">Financial risks and financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2095em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.987em;top:10.2188em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.8563em;\"><span class=\"stl_191 stl_15 stl_278\" style=\"word-spacing:-0.0362em;\">Categories of financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.7657em;\"><span class=\"stl_277 stl_08 stl_87\" style=\"word-spacing:-0.025em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:64.047em;top:12.7657em;\"><span class=\"stl_277 stl_08 stl_279\">1,778,104 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3252em;top:12.7657em;\"><span class=\"stl_277 stl_08 stl_570\">523,145 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.6694em;\"><span class=\"stl_277 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">Other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7914em;top:13.6694em;\"><span class=\"stl_277 stl_08 stl_70\">60,434 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6083em;top:13.6694em;\"><span class=\"stl_277 stl_08 stl_121\">16,455 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5732em;\"><span class=\"stl_277 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Cash and cash equivalents \u00a0</span></div><div class=\"stl_01\" style=\"left:64.017em;top:14.5732em;\"><span class=\"stl_277 stl_08 stl_147\">1,477,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2545em;top:14.5732em;\"><span class=\"stl_277 stl_08 stl_117\">575,407 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:15.4713em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Financial assets measured at amortized cost \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7864em;top:15.4713em;\"><span class=\"stl_191 stl_15 stl_303\">3,315,772 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6502em;top:15.4713em;\"><span class=\"stl_191 stl_15 stl_289\">1,115,007 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:16.8663em;\"><span class=\"stl_277 stl_08 stl_278\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4827em;top:16.8663em;\"><span class=\"stl_277 stl_08 stl_244\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.817em;top:16.8663em;\"><span class=\"stl_277 stl_08 stl_157\">1,184,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:17.77em;\"><span class=\"stl_277 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Transferred securities that are not derecognized \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4002em;top:17.77em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.7883em;top:17.77em;\"><span class=\"stl_277 stl_08 stl_112\">1,084,916 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:18.6682em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3083em;top:18.6682em;\"><span class=\"stl_191 stl_15 stl_326\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6033em;top:18.6682em;\"><span class=\"stl_191 stl_15 stl_123\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:20.0632em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">Derivative financial instruments to hedge future cash flows (exchange rate) \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7889em;top:20.0632em;\"><span class=\"stl_277 stl_08 stl_321\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5927em;top:20.0632em;\"><span class=\"stl_277 stl_08 stl_387\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:20.9669em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flows (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.222em;top:20.9669em;\"><span class=\"stl_277 stl_08 stl_668\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9233em;top:20.9669em;\"><span class=\"stl_277 stl_08 stl_224\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:21.865em;\"><span class=\"stl_191 stl_15 stl_485\" style=\"word-spacing:-0.0382em;\">Financial assets used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6452em;top:21.865em;\"><span class=\"stl_191 stl_15 stl_68\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4583em;top:21.865em;\"><span class=\"stl_191 stl_15 stl_387\">31,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:23.26em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9977em;top:23.26em;\"><span class=\"stl_277 stl_08 stl_373\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7927em;top:23.26em;\"><span class=\"stl_277 stl_08 stl_136\">2,612,093 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:24.1638em;\"><span class=\"stl_277 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">Debt to credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8577em;top:24.1638em;\"><span class=\"stl_277 stl_08 stl_574\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6058em;top:24.1638em;\"><span class=\"stl_277 stl_08 stl_85\">18,930 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.742em;top:25.0675em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Security lending (repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4008em;top:25.0675em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.8664em;top:25.0675em;\"><span class=\"stl_277 stl_08 stl_552\">1,103,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:25.9713em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4002em;top:25.9713em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.2302em;top:25.9713em;\"><span class=\"stl_277 stl_08 stl_572\">566,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:26.875em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4639em;top:26.875em;\"><span class=\"stl_277 stl_08 stl_420\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6102em;top:26.875em;\"><span class=\"stl_277 stl_08 stl_121\">70,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:27.7788em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5339em;top:27.7788em;\"><span class=\"stl_277 stl_08 stl_265\">954,142 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2564em;top:27.7788em;\"><span class=\"stl_277 stl_08 stl_303\">605,928 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:28.6825em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5252em;top:28.6825em;\"><span class=\"stl_277 stl_08 stl_296\">419,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3045em;top:28.6825em;z-index:1007;\"><span class=\"stl_277 stl_08 stl_216\">238</span><span class=\"stl_277 stl_08 stl_551\">,</span><span class=\"stl_277 stl_08 stl_323\">165 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.5807em;\"><span class=\"stl_191 stl_15 stl_69\" style=\"word-spacing:-0.0352em;\">Financial liabilities measured at amortized cost \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7752em;top:29.5807em;\"><span class=\"stl_191 stl_15 stl_288\">3,896,276 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6014em;top:29.5807em;\"><span class=\"stl_191 stl_15 stl_121\">5,215,518 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:30.9757em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">Derivative financial instruments at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:31.8088em;\"><span class=\"stl_277 stl_08 stl_217\" style=\"word-spacing:-0.0237em;\">(repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4001em;top:31.8088em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.9077em;top:31.8088em;\"><span class=\"stl_277 stl_08 stl_455\">8,302 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:32.7125em;\"><span class=\"stl_277 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Liability relating to phantom shares \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4001em;top:32.7125em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.7026em;top:32.7125em;\"><span class=\"stl_277 stl_08 stl_665\">11,102 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:33.6107em;\"><span class=\"stl_191 stl_15 stl_193\" style=\"word-spacing:-0.0349em;\">Financial liabilities measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3926em;top:33.6107em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.4658em;top:33.6107em;\"><span class=\"stl_191 stl_15 stl_150\">19,404 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:10.0933em;\"><span class=\"stl_585 stl_15 stl_89\" style=\"word-spacing:-0.0358em;\">Derivative financial instruments not designated as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:10.9264em;\"><span class=\"stl_585 stl_15 stl_400\" style=\"word-spacing:-0.0338em;\">hedge accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:11.7652em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0345em;\">Currency forward contracts and currency option \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:12.5983em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">contracts which are not designated as hedge \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:13.4314em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">accounting are classified as financial assets/liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:14.2646em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">measured at fair value with value adjustments recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:15.0977em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">nized through the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:16.7646em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">There were no open currency contracts as of December \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:17.5977em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">31, 2023 or as per December 31, 2022 not designated as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:18.4308em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">hedge accounting. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2442": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.1999em;\"><span class=\"stl_585 stl_15 stl_442\" style=\"word-spacing:-0.0373em;\">Derivative financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">On initial recognition, derivative financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">are measured at the fair value on the settlement date. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">Directly attributable costs related to the purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">or issuance of the individual financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">(transaction costs) are added to the fair value on initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">recognition, unless the financial asset or the financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">liability is measured at fair value with recognition of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">fair value adjustments in the income statement. Subse- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0263em;\">quently, they are measured at fair value at the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5368em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">sheet date based on the official exchange rates, market \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3699em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">interest rates and other market data such as volatility \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2031em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">adjusted for the special characteristics of each instru- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0362em;\"><span class=\"stl_532 stl_08 stl_192\">ment. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7031em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">Changes in the fair value of derivative financial instru- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5362em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">ments designated as and qualifying for recognition \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3693em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">as effective hedges of future transactions (cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2024em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0262em;\">hedges) are recognized as comprehensive income. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0356em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">The ineffective portion is recognized immediately in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8687em;\"><span class=\"stl_532 stl_08 stl_393\" style=\"word-spacing:-0.036em;\">the income statement. When the hedged transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7018em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">are realized, cumulative changes are recognized in the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5349em;z-index:2442;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">income statement together with the hedged transa</span><span class=\"stl_532 stl_08 stl_513\">c</span><span class=\"stl_532 stl_08 stl_513\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3681em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">tion or in respect of a non-financial item as part of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2012em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0345em;\">cost of the transactions in question. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2012em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">For derivative financial instruments that do not qualify \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0343em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">for hedge accounting, changes in fair value are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8674em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">nized as financials in the income statement as they \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7006em;\"><span class=\"stl_532 stl_08 stl_536\">occur. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3674em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">The Company has designated certain derivative finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.2006em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">cial instruments as cash flow hedges as defined under \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0337em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">IFRS 9 \"Financial Instruments\". Hedge accounting is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8668em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">classified as a cash flow hedge when the hedges of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.6999em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">a particular risk is associated with the cash flows of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.533em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0355em;\">highly probable forecast transactions. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2443": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.1999em;\"><span class=\"stl_585 stl_15 stl_442\" style=\"word-spacing:-0.0373em;\">Derivative financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">On initial recognition, derivative financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">are measured at the fair value on the settlement date. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">Directly attributable costs related to the purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">or issuance of the individual financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">(transaction costs) are added to the fair value on initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">recognition, unless the financial asset or the financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">liability is measured at fair value with recognition of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">fair value adjustments in the income statement. Subse- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0263em;\">quently, they are measured at fair value at the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5368em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">sheet date based on the official exchange rates, market \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3699em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">interest rates and other market data such as volatility \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2031em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">adjusted for the special characteristics of each instru- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0362em;\"><span class=\"stl_532 stl_08 stl_192\">ment. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7031em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">Changes in the fair value of derivative financial instru- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5362em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">ments designated as and qualifying for recognition \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3693em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">as effective hedges of future transactions (cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2024em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0262em;\">hedges) are recognized as comprehensive income. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0356em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">The ineffective portion is recognized immediately in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8687em;\"><span class=\"stl_532 stl_08 stl_393\" style=\"word-spacing:-0.036em;\">the income statement. When the hedged transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7018em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">are realized, cumulative changes are recognized in the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5349em;z-index:2442;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">income statement together with the hedged transa</span><span class=\"stl_532 stl_08 stl_513\">c</span><span class=\"stl_532 stl_08 stl_513\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3681em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">tion or in respect of a non-financial item as part of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2012em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0345em;\">cost of the transactions in question. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2012em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">For derivative financial instruments that do not qualify \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0343em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">for hedge accounting, changes in fair value are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8674em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">nized as financials in the income statement as they \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7006em;\"><span class=\"stl_532 stl_08 stl_536\">occur. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3674em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">The Company has designated certain derivative finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.2006em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">cial instruments as cash flow hedges as defined under \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0337em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">IFRS 9 \"Financial Instruments\". Hedge accounting is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8668em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">classified as a cash flow hedge when the hedges of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.6999em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">a particular risk is associated with the cash flows of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.533em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0355em;\">highly probable forecast transactions. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1943em;\"><span class=\"stl_585 stl_15 stl_46\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.033em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">Securities consist of highly liquid, listed bonds with \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8662em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">high credit rating, which are measured at fair value on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.6993em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0283em;\">initial recognition and as of the balance sheet date. The \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5324em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">Group\u2019s portfolio of securities is treated as \"financial \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3656em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">items at fair value through profit or loss\", as the port- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.1987em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">folio is accounted for and valued on the basis of the fair \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.0318em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">value in compliance with the Company's investment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8649em;\"><span class=\"stl_532 stl_08 stl_59\">policy. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.5318em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Both realized and unrealized value adjustments are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3649em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">recognized in the income statement under financials. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2451": {
   "value": "<div class=\"stl_01\" style=\"left:21.7325em;top:21.1943em;\"><span class=\"stl_585 stl_15 stl_46\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.033em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">Securities consist of highly liquid, listed bonds with \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8662em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">high credit rating, which are measured at fair value on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.6993em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0283em;\">initial recognition and as of the balance sheet date. The \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5324em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">Group\u2019s portfolio of securities is treated as \"financial \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3656em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">items at fair value through profit or loss\", as the port- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.1987em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">folio is accounted for and valued on the basis of the fair \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.0318em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">value in compliance with the Company's investment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8649em;\"><span class=\"stl_532 stl_08 stl_59\">policy. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.5318em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Both realized and unrealized value adjustments are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3649em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">recognized in the income statement under financials. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialAssetsHeldForTradingExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2456": {
   "value": "<div class=\"stl_01\" style=\"left:4.714em;top:10.3283em;\"><span class=\"stl_585 stl_15 stl_385\" style=\"word-spacing:-0.0401em;\">Policy for managing financial risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.167em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">Through its operations, investments and financing the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0001em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Group is exposed to fluctuations in exchange rates and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8333em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">interest rates. These risks are managed centrally in the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.6664em;\"><span class=\"stl_532 stl_08 stl_178\" style=\"word-spacing:-0.0241em;\">Parent Company, which manages the Group\u00b4s liquidity. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.4995em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">The Group pursues a treasury policy approved by the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.3326em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Board of Directors. The policy operates with a low risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.1658em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">profile, so that exchange rate risks, interest rate risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.9989em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">and credit risks arise only in commercial relations. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.832em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">Group therefore does not undertake any active specula- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.6651em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">tion in financial risk. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.332em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">The Group\u00b4s capital structure is regularly assessed by \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.1651em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0246em;\">the Board of Directors relative to the Group\u00b4s cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.9983em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">position and cash flow budgets. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2458": {
   "value": "<div class=\"stl_01\" style=\"left:4.714em;top:10.3283em;\"><span class=\"stl_585 stl_15 stl_385\" style=\"word-spacing:-0.0401em;\">Policy for managing financial risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.167em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">Through its operations, investments and financing the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0001em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Group is exposed to fluctuations in exchange rates and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8333em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">interest rates. These risks are managed centrally in the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.6664em;\"><span class=\"stl_532 stl_08 stl_178\" style=\"word-spacing:-0.0241em;\">Parent Company, which manages the Group\u00b4s liquidity. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.4995em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">The Group pursues a treasury policy approved by the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.3326em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Board of Directors. The policy operates with a low risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.1658em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">profile, so that exchange rate risks, interest rate risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.9989em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">and credit risks arise only in commercial relations. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.832em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">Group therefore does not undertake any active specula- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.6651em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">tion in financial risk. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.332em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">The Group\u00b4s capital structure is regularly assessed by \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.1651em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0246em;\">the Board of Directors relative to the Group\u00b4s cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.9983em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">position and cash flow budgets. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2466": {
   "value": "<div class=\"stl_01\" style=\"left:21.7271em;top:15.3226em;\"><span class=\"stl_585 stl_15 stl_441\" style=\"word-spacing:-0.0379em;\">Exchange rate risks \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:16.1614em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0256em;\">The Group\u2019s exchange rate exposure is primarily to USD \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:16.9945em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">and EUR. The exchange rate exposure to USD is hedged \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:17.8276em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">to the greatest possible extent by matching incoming \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:18.6607em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">and outgoing payments denominated in USD, looking \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:19.4939em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">at maximum one year ahead. Regular assessments are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:20.327em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">made of whether the remaining net position should \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:21.1601em;\"><span class=\"stl_532 stl_08 stl_199\" style=\"word-spacing:-0.037em;\">be hedged by currency forward contracts or currency \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:21.9932em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.035em;\">option contracts. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:23.6601em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">The exposure to EUR is not hedged as management \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:24.4932em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">believes that fluctuations in EUR are limited due to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:25.3264em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">the Danish fixed-rate policy which is expected to be \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:26.1595em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">maintained. Thus the fluctuations in EUR do not have a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:26.9926em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0353em;\">significant impact on financial performance. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:28.6595em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">The sensitivity analysis shows the net effect it would \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:29.4926em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">have had on equity and profit for the year if the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:30.3257em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0253em;\">year-end exchange rates of USD, EUR and CHF had been \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:31.1589em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">15%, 1% or 5%, respectively, higher than the actual \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:31.992em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">exchange rates. A corresponding decrease in the actual \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:32.8251em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">exchange rates would have had an opposite (positive/ \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:33.6582em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0263em;\">negative) effect on net result and equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.3889em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.0359em;\">Exchange rate risks on recognized financial assets and liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:56.3158em;top:11.5289em;\"><span class=\"stl_191 stl_15 stl_393\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:55.1045em;top:12.2789em;\"><span class=\"stl_191 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">and cash \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0189em;top:13.0289em;\"><span class=\"stl_191 stl_15 stl_440\">equivalents, \u00a0</span></div><div class=\"stl_01\" style=\"left:69.3877em;top:13.0289em;\"><span class=\"stl_191 stl_15 stl_249\">Net \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7845em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:54.8502em;top:13.7789em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:0.9856em;\">securities Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:63.332em;top:13.7789em;\"><span class=\"stl_191 stl_15 stl_142\">Liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0345em;top:13.7789em;\"><span class=\"stl_191 stl_15 stl_248\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.4632em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.4907em;\"><span class=\"stl_277 stl_08 stl_393\">EUR \u00a0</span></div><div class=\"stl_01\" style=\"left:55.5614em;top:16.4907em;\"><span class=\"stl_277 stl_08 stl_413\">149,934 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.767em;top:16.4907em;\"><span class=\"stl_277 stl_08 stl_156\">455,057 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3727em;top:16.4907em;\"><span class=\"stl_277 stl_08 stl_168\">(2,679,716) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5845em;top:16.4907em;\"><span class=\"stl_277 stl_08 stl_114\">(2,074,725) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:17.5126em;\"><span class=\"stl_277 stl_08 stl_50\">USD \u00a0</span></div><div class=\"stl_01\" style=\"left:55.5264em;top:17.5126em;\"><span class=\"stl_277 stl_08 stl_97\">205,315 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.2764em;top:17.5126em;\"><span class=\"stl_277 stl_08 stl_224\">1,334,432 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8602em;top:17.5126em;\"><span class=\"stl_277 stl_08 stl_669\">(945,701) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2383em;top:17.5126em;\"><span class=\"stl_277 stl_08 stl_70\">594,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:18.5345em;\"><span class=\"stl_277 stl_08 stl_469\">CHF \u00a0</span></div><div class=\"stl_01\" style=\"left:55.8439em;top:18.5345em;\"><span class=\"stl_277 stl_08 stl_112\">10,281 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.3989em;top:18.5345em;\"><span class=\"stl_277 stl_08 stl_414\">4,649 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8377em;top:18.5345em;\"><span class=\"stl_277 stl_08 stl_670\">(181,627) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0627em;top:18.5345em;\"><span class=\"stl_277 stl_08 stl_110\">(166,697) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.1545em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:21.182em;\"><span class=\"stl_277 stl_08 stl_393\">EUR \u00a0</span></div><div class=\"stl_01\" style=\"left:55.4895em;top:21.182em;\"><span class=\"stl_277 stl_08 stl_326\">294,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.8452em;top:21.182em;\"><span class=\"stl_277 stl_08 stl_347\">355,193 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.357em;top:21.182em;\"><span class=\"stl_277 stl_08 stl_157\">(3,156,284) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5002em;top:21.182em;\"><span class=\"stl_277 stl_08 stl_232\">(2,506,884) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:22.2039em;\"><span class=\"stl_277 stl_08 stl_50\">USD \u00a0</span></div><div class=\"stl_01\" style=\"left:55.5633em;top:22.2039em;\"><span class=\"stl_277 stl_08 stl_355\">237,026 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.7314em;top:22.2039em;\"><span class=\"stl_277 stl_08 stl_414\">148,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8077em;top:22.2039em;\"><span class=\"stl_277 stl_08 stl_490\">(156,497) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2458em;top:22.2039em;\"><span class=\"stl_277 stl_08 stl_342\">228,783 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:23.2257em;\"><span class=\"stl_277 stl_08 stl_469\">CHF \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2308em;top:23.2257em;\"><span class=\"stl_277 stl_08 stl_655\">2,175 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.4189em;top:23.2257em;\"><span class=\"stl_277 stl_08 stl_48\">2,692 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1808em;top:23.2257em;\"><span class=\"stl_277 stl_08 stl_31\">(39,532) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3527em;top:23.2257em;\"><span class=\"stl_277 stl_08 stl_429\">(34,665) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.4489em;\"><span class=\"stl_191 stl_15 stl_69\" style=\"word-spacing:-0.0351em;\">Sensitivity analysis on exchange rates \u00a0</span></div><div class=\"stl_01\" style=\"left:58.1514em;top:26.5889em;\"><span class=\"stl_191 stl_15 stl_284\" style=\"word-spacing:-0.034em;\">Likely change</span></div><div class=\"stl_01\" style=\"left:66.704em;top:26.5889em;\"><span class=\"stl_191 stl_15 stl_93\" style=\"word-spacing:0.6074em;\">Hypothetical Hypothetical \u00a0</span></div><div class=\"stl_01\" style=\"left:58.3814em;top:27.3389em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0348em;\">in exchange \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3258em;top:27.3389em;\"><span class=\"stl_191 stl_15 stl_215\" style=\"word-spacing:-0.0383em;\">change in \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5777em;top:27.3389em;\"><span class=\"stl_191 stl_15 stl_215\" style=\"word-spacing:-0.0383em;\">change in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.0945em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7289em;top:28.0889em;\"><span class=\"stl_191 stl_15 stl_36\">rate \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2739em;top:28.0889em;\"><span class=\"stl_191 stl_15 stl_514\">equity \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6102em;top:28.0889em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">net result \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.7732em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:30.8007em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Change if higher USD-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7221em;top:30.8007em;\"><span class=\"stl_277 stl_08 stl_289\">15% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0583em;top:30.8007em;\"><span class=\"stl_277 stl_08 stl_354\">110,532 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2989em;top:30.8007em;\"><span class=\"stl_277 stl_08 stl_539\">118,270 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:31.8226em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Change if higher EUR-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0502em;top:31.8226em;\"><span class=\"stl_277 stl_08 stl_583\">1% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1739em;top:31.8226em;\"><span class=\"stl_277 stl_08 stl_284\">(19,347) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3839em;top:31.8226em;\"><span class=\"stl_277 stl_08 stl_358\">(21,505) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:32.8445em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Change if higher CHF-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0327em;top:32.8445em;\"><span class=\"stl_277 stl_08 stl_293\">5% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3864em;top:32.8445em;\"><span class=\"stl_277 stl_08 stl_565\">29,518 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8039em;top:32.8445em;\"><span class=\"stl_277 stl_08 stl_671\">(8,117) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:34.4645em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:35.492em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Change if higher USD-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7221em;top:35.492em;\"><span class=\"stl_277 stl_08 stl_289\">15% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3346em;top:35.492em;\"><span class=\"stl_277 stl_08 stl_599\">75,638 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5764em;top:35.492em;\"><span class=\"stl_277 stl_08 stl_326\">56,962 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:36.5139em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Change if higher EUR-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0496em;top:36.5139em;\"><span class=\"stl_277 stl_08 stl_583\">1% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0908em;top:36.5139em;\"><span class=\"stl_277 stl_08 stl_258\">(22,207) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4321em;top:36.5139em;\"><span class=\"stl_277 stl_08 stl_581\">(23,911) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:37.5357em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Change if higher CHF-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0327em;top:37.5357em;\"><span class=\"stl_277 stl_08 stl_293\">5% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.9614em;top:37.5357em;\"><span class=\"stl_277 stl_08 stl_613\">(583) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7271em;top:37.5357em;\"><span class=\"stl_277 stl_08 stl_138\">(1,004) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:10.1558em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.0361em;\">Cash flow hedge \u2013 forward currency contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5754em;top:11.2958em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:41.0773em;top:12.0458em;\"><span class=\"stl_191 stl_15 stl_400\">Contract \u00a0</span></div><div class=\"stl_01\" style=\"left:50.0579em;top:12.0458em;\"><span class=\"stl_191 stl_15 stl_441\">adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:41.2192em;top:12.7958em;\"><span class=\"stl_191 stl_15 stl_417\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6148em;top:12.7958em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5136em;top:12.7958em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0306em;\">recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:40.8435em;top:13.5458em;\"><span class=\"stl_191 stl_15 stl_142\" style=\"word-spacing:-0.0364em;\">based on \u00a0</span></div><div class=\"stl_01\" style=\"left:47.0473em;top:13.5458em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:49.260em;top:13.5458em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0366em;\">other compre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:14.3014em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5673em;top:14.2958em;\"><span class=\"stl_191 stl_15 stl_69\" style=\"word-spacing:-0.0352em;\">Forward price \u00a0</span></div><div class=\"stl_01\" style=\"left:39.8198em;top:14.2958em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0302em;\">agreed rates \u00a0</span></div><div class=\"stl_01\" style=\"left:44.6542em;top:14.2958em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31</span></div><div class=\"stl_01\" style=\"left:48.953em;top:14.2958em;\"><span class=\"stl_191 stl_15 stl_672\" style=\"word-spacing:-0.0338em;\">hensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:15.9802em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Forward currency contracts (USD/DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4085em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_288\" style=\"word-spacing:-0.0017em;\">6.90 - 6.94 \u00a0</span></div><div class=\"stl_01\" style=\"left:40.6042em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_188\">1,454,570 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4673em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_500\">39,184 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7779em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_674\">9,159 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_159\" style=\"word-spacing:-0.0343em;\">Forward currency contracts (DKK/EUR) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.5423em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_673\" style=\"word-spacing:0.0673em;\">7.41 - 7.42 \u00a0</span></div><div class=\"stl_01\" style=\"left:40.7035em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_322\">2,150,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6904em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_361\">5,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6511em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_361\">5,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.2217em;top:19.0458em;\"><span class=\"stl_191 stl_15 stl_617\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2304em;top:19.0458em;\"><span class=\"stl_191 stl_15 stl_162\">14,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:20.6714em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:21.6989em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Forward currency contracts (USD/DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.0792em;top:21.6989em;\"><span class=\"stl_277 stl_08 stl_335\">543,454 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.386em;top:21.6989em;\"><span class=\"stl_277 stl_08 stl_387\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3467em;top:21.6989em;\"><span class=\"stl_277 stl_08 stl_228\">30,671 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.2479em;top:22.7152em;\"><span class=\"stl_191 stl_15 stl_431\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2079em;top:22.7152em;\"><span class=\"stl_191 stl_15 stl_431\">30,671 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7311em;top:24.9439em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0305em;\">Cash flow hedge \u2013 interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5742em;top:26.0839em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:41.0761em;top:26.8339em;\"><span class=\"stl_191 stl_15 stl_400\">Contract \u00a0</span></div><div class=\"stl_01\" style=\"left:50.0567em;top:26.8339em;\"><span class=\"stl_191 stl_15 stl_441\">adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:41.2179em;top:27.5839em;\"><span class=\"stl_191 stl_15 stl_417\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6135em;top:27.5839em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5123em;top:27.5839em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0306em;\">recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:40.8423em;top:28.3339em;\"><span class=\"stl_191 stl_15 stl_142\" style=\"word-spacing:-0.0364em;\">based on \u00a0</span></div><div class=\"stl_01\" style=\"left:47.0461em;top:28.3339em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:49.259em;top:28.3339em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0366em;\">other compre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7311em;top:29.0896em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:39.8186em;top:29.0839em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0302em;\">agreed rates \u00a0</span></div><div class=\"stl_01\" style=\"left:44.6529em;top:29.0839em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31</span></div><div class=\"stl_01\" style=\"left:48.951em;top:29.0839em;\"><span class=\"stl_191 stl_15 stl_672\" style=\"word-spacing:-0.0338em;\">hensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:30.7683em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:31.7902em;\"><span class=\"stl_191 stl_15 stl_185\" style=\"word-spacing:-0.0283em;\">Interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:32.8177em;\"><span class=\"stl_277 stl_08 stl_638\" style=\"word-spacing:-0.0135em;\">DKK - fixed rate 0.9625% p.a. (expiry 2031) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.4929em;top:32.8177em;\"><span class=\"stl_277 stl_08 stl_634\">17,041 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7923em;top:32.8177em;\"><span class=\"stl_277 stl_08 stl_668\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9592em;top:32.8177em;\"><span class=\"stl_277 stl_08 stl_97\">(766) \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6648em;top:33.8339em;\"><span class=\"stl_191 stl_15 stl_12\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8748em;top:33.8339em;\"><span class=\"stl_191 stl_15 stl_162\">(766) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7286em;top:35.4596em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7286em;top:36.4814em;\"><span class=\"stl_191 stl_15 stl_185\" style=\"word-spacing:-0.0283em;\">Interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7286em;top:37.5089em;\"><span class=\"stl_277 stl_08 stl_638\" style=\"word-spacing:-0.0135em;\">DKK - fixed rate 0.9625% p.a. (expiry 2031) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5429em;top:37.5089em;\"><span class=\"stl_277 stl_08 stl_675\">19,192 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7136em;top:37.5089em;\"><span class=\"stl_277 stl_08 stl_224\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6936em;top:37.5089em;\"><span class=\"stl_277 stl_08 stl_302\">2,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5917em;top:38.5252em;\"><span class=\"stl_191 stl_15 stl_388\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5729em;top:38.5252em;\"><span class=\"stl_191 stl_15 stl_140\">2,574 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2459": {
   "value": "<div class=\"stl_01\" style=\"left:4.714em;top:23.6595em;\"><span class=\"stl_585 stl_15 stl_176\" style=\"word-spacing:-0.0376em;\">Market risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:24.4983em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Market risk is the risk that changes in market prices \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.3314em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">will affect the Group\u2019s profit or the value of its holdings \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.1645em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">of financial instruments. Bavarian Nordic is exposed \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.9976em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">to various market risks with the main risks being \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.8308em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">exchange rate risks, interest rate risks and cash risks. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.6639em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">All market risks are managed in accordance with the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:29.497em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">treasury policy approved by the Audit Committee. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0347em;\">Maturity of financial liabilities (including interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6994em;top:11.1189em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.0457em;top:12.3183em;\"><span class=\"stl_191 stl_15 stl_443\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:23.075em;top:12.3183em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9594em;top:12.3183em;\"><span class=\"stl_191 stl_15 stl_176\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.0739em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4175em;top:13.0683em;\"><span class=\"stl_191 stl_15 stl_186\" style=\"word-spacing:-0.0233em;\">1 year</span></div><div class=\"stl_01\" style=\"left:23.080em;top:13.0683em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0307em;\">1 and 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5769em;top:13.0683em;\"><span class=\"stl_191 stl_15 stl_183\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:13.0683em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.7583em;\"><span class=\"stl_277 stl_08 stl_39\" style=\"word-spacing:-0.0231em;\">Deferred consideration</span><sup style=\"top: -0.208em;\"><span class=\"stl_367 stl_08 stl_340\" style=\"word-spacing:-0.0396em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:19.5667em;top:14.7584em;\"><span class=\"stl_277 stl_08 stl_677\">1,394,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.2954em;top:14.7584em;\"><span class=\"stl_277 stl_08 stl_173\">1,082,525 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4386em;top:14.7584em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.7748em;top:14.7584em;\"><span class=\"stl_277 stl_08 stl_293\">2,477,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7242em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:20.7167em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_420\">2,720 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1429em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_124\">10,698 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2948em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_678\">7,167 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5498em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_320\">20,586 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7242em;top:16.8021em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Prepayment and loan from Government</span><sup style=\"top: -0.2077em;\"><span class=\"stl_367 stl_08 stl_676\" style=\"word-spacing:-0.0538em;\">2 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:21.9897em;top:16.8026em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.7141em;top:16.8026em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4385em;top:16.8026em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1629em;top:16.8026em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.406em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_224\">45,679 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1041em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_429\">93,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6685em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_291\">166 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3204em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_679\">139,413 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:20.126em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_597\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7141em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4385em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2991em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_597\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.1322em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_630\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7141em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4385em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.3054em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_630\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_215\" style=\"word-spacing:-0.038em;\">Non-derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:19.3241em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_81\">2,842,528 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.161em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_276\">1,186,791 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.1035em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_355\">7,333 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5304em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_455\">4,036,652 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6979em;top:22.877em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.0454em;top:24.0764em;\"><span class=\"stl_191 stl_15 stl_443\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:23.074em;top:24.0764em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9591em;top:24.0764em;\"><span class=\"stl_191 stl_15 stl_442\" style=\"word-spacing:-0.0373em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:24.832em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4172em;top:24.8264em;\"><span class=\"stl_191 stl_15 stl_186\" style=\"word-spacing:-0.0233em;\">1 year</span></div><div class=\"stl_01\" style=\"left:23.079em;top:24.8264em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0307em;\">1 and 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5766em;top:24.8264em;\"><span class=\"stl_191 stl_15 stl_183\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:34.971em;top:24.8264em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:26.5164em;\"><span class=\"stl_277 stl_08 stl_39\" style=\"word-spacing:-0.0231em;\">Deferred consideration</span><sup style=\"top: -0.2067em;\"><span class=\"stl_367 stl_08 stl_494\" style=\"word-spacing:-0.0397em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:20.0825em;top:26.5178em;\"><span class=\"stl_277 stl_08 stl_161\">297,460 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3406em;top:26.5178em;\"><span class=\"stl_277 stl_08 stl_162\">2,506,101 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4388em;top:26.5178em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.7494em;top:26.5178em;\"><span class=\"stl_277 stl_08 stl_225\">2,803,561 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:19.6656em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_681\">1,103,003 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1456em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_123\">10,355 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.1988em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_343\">9,423 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8313em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_574\">1,122,781 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:28.5615em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">Prepayment and loan from Government</span><sup style=\"top: -0.2076em;\"><span class=\"stl_367 stl_08 stl_680\" style=\"word-spacing:-0.0536em;\">2 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:21.9897em;top:28.562em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:24.8797em;top:28.562em;\"><span class=\"stl_277 stl_08 stl_654\">519,932 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.8516em;top:28.562em;\"><span class=\"stl_277 stl_08 stl_387\">70,503 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2429em;top:28.562em;\"><span class=\"stl_277 stl_08 stl_187\">590,435 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.3879em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_455\">24,487 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1129em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_326\">45,834 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4391em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.5941em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_121\">70,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7254em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:20.0679em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_303\">605,928 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7154em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4397em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.241em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_303\">605,928 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7254em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.0747em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_99\">265,775 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7147em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4391em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2479em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_99\">265,775 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_215\" style=\"word-spacing:-0.038em;\">Non-derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:19.3422em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_512\">2,296,653 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.0654em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_260\">3,082,222 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7535em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_558\">79,926 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5122em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_272\">5,458,801 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.1698em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:34.1322em;\"><span class=\"stl_74 stl_08 stl_682\" style=\"word-spacing:-0.0464em;\">Further explained in note 24. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.8713em;\"><span class=\"stl_370 stl_08 stl_24\">2</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:34.8337em;\"><span class=\"stl_74 stl_08 stl_86\" style=\"word-spacing:-0.0494em;\">Further explained in note 25. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2189em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Financial liabilities due within one year DKK 2,824 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">million (DKK 2,297 million) is expected to be settled \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">with short term assets recognized as of December 31, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">2023, consisting of cash and cash equivalents, securities \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5514em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">together with trade receivables and other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.3845em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">to a total of DKK 3,706 million (DKK 3,385 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0514em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0249em;\">The financial liabilities due after one year, DKK 1,194 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.8845em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">million (DKK 3,162 million) is expected to be settled \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.7177em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">with the excess short-term assets of DKK 882 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.5508em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">(DKK 1,088 million) in conjunction with expected cash \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.3839em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">flow from future operations. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.0508em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">To further mitigate potential liquidity fluctuations, the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.8839em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">Group has in 2023 obtained access to a Revolving Credit \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.717em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Facility of DKK 1,000 million. The facility was undrawn \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.5502em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">as of December 31, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.217em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">With respect to the Group\u00b4s debt to credit institutions, a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.0502em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">change in the applicable interest rate by 1 percentage \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.8833em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">point would have had an impact on the Group's net \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.7164em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">result and equity of DKK 0.2 million (DKK 0.2 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.3833em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">During 2023 the Company fulfilled all existing repo loan \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:30.2164em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">contracts (security lending) without entering into new \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.0495em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">contract. The position is therefore reduced to DKK 0 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.8827em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0246em;\">million by the end of 2023 (DKK 1,104 million). Further \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:32.7158em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">described below. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:34.3827em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0247em;\">Debt to credit institutions is a mortgage loan of DKK 17.1 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:35.2158em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">million (DKK 18.9 million), further described in note 26. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.8827em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">The Group has a credit facility of DKK 20 million (DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:37.7158em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">20 million) at Nordea. As of December 31, 2023, DKK 0.3 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:10.2158em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">million (DKK 0.2 million) of the credit facility is utilized \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.0489em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0337em;\">for bank guarantees. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.7158em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">To mitigate potential liquitity fluctuations, the group \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.5489em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">has in 2023 obtained access to a Revolving Credit \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.382em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">Facility of DKK 1,000 million with Nordea and Danske \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.2152em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">Bank as joint lenders. The facility was undrawn as of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.0483em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">December 31, 2023. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2462": {
   "value": "<div class=\"stl_01\" style=\"left:4.714em;top:31.1583em;\"><span class=\"stl_585 stl_15 stl_185\" style=\"word-spacing:-0.0285em;\">Interest rate risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:31.997em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">It is the Group's policy to hedge interest rate risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.8301em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">on loans obtained with floating rate and a maturity \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:33.6633em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">of more than five years. Hedging will then consist of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:34.4964em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">interest rate swaps that convert floating rate loans to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:35.3295em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0386em;\">fixed rate loans. Management determines the economic \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:36.1626em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">relationship between the hedged item and the hedging \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:36.9958em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">instrument to ensure a high hedge effectiveness. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:10.3289em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">The interest rate risk involved in placing cash funds \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:11.162em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">and investing in securities is managed on the basis of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:11.9951em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">duration, preferably via a low portfolio duration and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:12.8282em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">pari settlement of securities i order to minimize value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:13.6614em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">adjustment risks. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:10.1558em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.0361em;\">Cash flow hedge \u2013 forward currency contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5754em;top:11.2958em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:41.0773em;top:12.0458em;\"><span class=\"stl_191 stl_15 stl_400\">Contract \u00a0</span></div><div class=\"stl_01\" style=\"left:50.0579em;top:12.0458em;\"><span class=\"stl_191 stl_15 stl_441\">adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:41.2192em;top:12.7958em;\"><span class=\"stl_191 stl_15 stl_417\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6148em;top:12.7958em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5136em;top:12.7958em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0306em;\">recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:40.8435em;top:13.5458em;\"><span class=\"stl_191 stl_15 stl_142\" style=\"word-spacing:-0.0364em;\">based on \u00a0</span></div><div class=\"stl_01\" style=\"left:47.0473em;top:13.5458em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:49.260em;top:13.5458em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0366em;\">other compre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:14.3014em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5673em;top:14.2958em;\"><span class=\"stl_191 stl_15 stl_69\" style=\"word-spacing:-0.0352em;\">Forward price \u00a0</span></div><div class=\"stl_01\" style=\"left:39.8198em;top:14.2958em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0302em;\">agreed rates \u00a0</span></div><div class=\"stl_01\" style=\"left:44.6542em;top:14.2958em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31</span></div><div class=\"stl_01\" style=\"left:48.953em;top:14.2958em;\"><span class=\"stl_191 stl_15 stl_672\" style=\"word-spacing:-0.0338em;\">hensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:15.9802em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Forward currency contracts (USD/DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4085em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_288\" style=\"word-spacing:-0.0017em;\">6.90 - 6.94 \u00a0</span></div><div class=\"stl_01\" style=\"left:40.6042em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_188\">1,454,570 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4673em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_500\">39,184 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7779em;top:17.0077em;\"><span class=\"stl_277 stl_08 stl_674\">9,159 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_159\" style=\"word-spacing:-0.0343em;\">Forward currency contracts (DKK/EUR) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.5423em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_673\" style=\"word-spacing:0.0673em;\">7.41 - 7.42 \u00a0</span></div><div class=\"stl_01\" style=\"left:40.7035em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_322\">2,150,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6904em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_361\">5,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6511em;top:18.0296em;\"><span class=\"stl_277 stl_08 stl_361\">5,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.2217em;top:19.0458em;\"><span class=\"stl_191 stl_15 stl_617\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2304em;top:19.0458em;\"><span class=\"stl_191 stl_15 stl_162\">14,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:20.6714em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:21.6989em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Forward currency contracts (USD/DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.0792em;top:21.6989em;\"><span class=\"stl_277 stl_08 stl_335\">543,454 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.386em;top:21.6989em;\"><span class=\"stl_277 stl_08 stl_387\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3467em;top:21.6989em;\"><span class=\"stl_277 stl_08 stl_228\">30,671 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.2479em;top:22.7152em;\"><span class=\"stl_191 stl_15 stl_431\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2079em;top:22.7152em;\"><span class=\"stl_191 stl_15 stl_431\">30,671 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7311em;top:24.9439em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0305em;\">Cash flow hedge \u2013 interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5742em;top:26.0839em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:41.0761em;top:26.8339em;\"><span class=\"stl_191 stl_15 stl_400\">Contract \u00a0</span></div><div class=\"stl_01\" style=\"left:50.0567em;top:26.8339em;\"><span class=\"stl_191 stl_15 stl_441\">adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:41.2179em;top:27.5839em;\"><span class=\"stl_191 stl_15 stl_417\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6135em;top:27.5839em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5123em;top:27.5839em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0306em;\">recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:40.8423em;top:28.3339em;\"><span class=\"stl_191 stl_15 stl_142\" style=\"word-spacing:-0.0364em;\">based on \u00a0</span></div><div class=\"stl_01\" style=\"left:47.0461em;top:28.3339em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:49.259em;top:28.3339em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0366em;\">other compre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7311em;top:29.0896em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:39.8186em;top:29.0839em;\"><span class=\"stl_191 stl_15 stl_18\" style=\"word-spacing:-0.0302em;\">agreed rates \u00a0</span></div><div class=\"stl_01\" style=\"left:44.6529em;top:29.0839em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31</span></div><div class=\"stl_01\" style=\"left:48.951em;top:29.0839em;\"><span class=\"stl_191 stl_15 stl_672\" style=\"word-spacing:-0.0338em;\">hensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:30.7683em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:31.7902em;\"><span class=\"stl_191 stl_15 stl_185\" style=\"word-spacing:-0.0283em;\">Interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:32.8177em;\"><span class=\"stl_277 stl_08 stl_638\" style=\"word-spacing:-0.0135em;\">DKK - fixed rate 0.9625% p.a. (expiry 2031) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.4929em;top:32.8177em;\"><span class=\"stl_277 stl_08 stl_634\">17,041 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7923em;top:32.8177em;\"><span class=\"stl_277 stl_08 stl_668\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9592em;top:32.8177em;\"><span class=\"stl_277 stl_08 stl_97\">(766) \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6648em;top:33.8339em;\"><span class=\"stl_191 stl_15 stl_12\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8748em;top:33.8339em;\"><span class=\"stl_191 stl_15 stl_162\">(766) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7286em;top:35.4596em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7286em;top:36.4814em;\"><span class=\"stl_191 stl_15 stl_185\" style=\"word-spacing:-0.0283em;\">Interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7286em;top:37.5089em;\"><span class=\"stl_277 stl_08 stl_638\" style=\"word-spacing:-0.0135em;\">DKK - fixed rate 0.9625% p.a. (expiry 2031) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5429em;top:37.5089em;\"><span class=\"stl_277 stl_08 stl_675\">19,192 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7136em;top:37.5089em;\"><span class=\"stl_277 stl_08 stl_224\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6936em;top:37.5089em;\"><span class=\"stl_277 stl_08 stl_302\">2,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5917em;top:38.5252em;\"><span class=\"stl_191 stl_15 stl_388\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5729em;top:38.5252em;\"><span class=\"stl_191 stl_15 stl_140\">2,574 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2477": {
   "value": "<div class=\"stl_01\" style=\"left:55.748em;top:16.7608em;\"><span class=\"stl_585 stl_15 stl_80\" style=\"word-spacing:-0.0434em;\">Cash risks \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.5996em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">The Group\u00b4s bank deposits are placed in deposit \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:18.4327em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">accounts without restrictions. The Group's cash and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:19.2658em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">cash equivalents totaled DKK 1,477.2 million as of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:20.0989em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">December 31, 2023 (DKK 575.4 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:21.7658em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">The Group's fixed rate bond portfolio expires as shown \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:22.5989em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">below. Amounts are stated excluding interest. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2479": {
   "value": "<div class=\"stl_01\" style=\"left:21.03em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.9063em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_201\" style=\"word-spacing:-0.0296em;\">Fair value as of \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_61\" style=\"word-spacing:1.0723em;\">Effective Fair</span></div><div class=\"stl_01\" style=\"left:28.280em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_248\" style=\"word-spacing:-0.0353em;\">value as of \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8707em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_93\">Effective \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.2289em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:17.49em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:23.9669em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_51\">interest \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6607em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0257em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1376em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_51\">interest \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:13.9077em;\"><span class=\"stl_191 stl_15 stl_79\" style=\"word-spacing:-0.0427em;\">Bond portfolio \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_307\" style=\"word-spacing:-0.0165em;\">Within 0-2 years \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1869em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_648\">230,192 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.8863em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_155\">3.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8013em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_129\">1,226,652 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0557em;top:14.9352em;\"><span class=\"stl_277 stl_08 stl_125\">3.4% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_186\" style=\"word-spacing:-0.0235em;\">Within 3-5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.0432em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.0038em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:29.2732em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_70\">492,898 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0438em;top:15.957em;\"><span class=\"stl_277 stl_08 stl_303\">3.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_43\" style=\"word-spacing:-0.0267em;\">After 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1388em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_49\">160,055 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.865em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_378\">3.2% \u00a0</span></div><div class=\"stl_01\" style=\"left:29.28em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_455\">550,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0569em;top:16.9789em;\"><span class=\"stl_277 stl_08 stl_146\">3.7% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:18.95em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_326\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.76em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_254\">3.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:28.625em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_137\">2,269,758 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9313em;top:17.9952em;\"><span class=\"stl_191 stl_15 stl_254\">3.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:20.3189em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Fluctuations in interest rate levels affect the Group's \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:21.152em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">bond portfolio. A change in the interest rate level by 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:21.9852em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0235em;\">percentage point relative to the interest rate level on \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:22.8183em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0291em;\">the balance sheet date will have an impact of DKK 13.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:23.6514em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">million on the Group\u00b4s net result and equity (DKK 73.3 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:24.4845em;\"><span class=\"stl_532 stl_08 stl_257\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:26.1514em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">The bond position with a duration of more than 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:26.9845em;\"><span class=\"stl_532 stl_08 stl_217\" style=\"word-spacing:-0.0238em;\">is a result of previous year's investment strategy. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:27.8177em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.033em;\">Group is in process of adapting the bond portfolio to the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:28.6508em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">amended investment strategy with the aim of reducing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:29.4839em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">the duration of the portfolio. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2484": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0347em;\">Maturity of financial liabilities (including interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6994em;top:11.1189em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.0457em;top:12.3183em;\"><span class=\"stl_191 stl_15 stl_443\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:23.075em;top:12.3183em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9594em;top:12.3183em;\"><span class=\"stl_191 stl_15 stl_176\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.0739em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4175em;top:13.0683em;\"><span class=\"stl_191 stl_15 stl_186\" style=\"word-spacing:-0.0233em;\">1 year</span></div><div class=\"stl_01\" style=\"left:23.080em;top:13.0683em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0307em;\">1 and 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5769em;top:13.0683em;\"><span class=\"stl_191 stl_15 stl_183\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:13.0683em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.7583em;\"><span class=\"stl_277 stl_08 stl_39\" style=\"word-spacing:-0.0231em;\">Deferred consideration</span><sup style=\"top: -0.208em;\"><span class=\"stl_367 stl_08 stl_340\" style=\"word-spacing:-0.0396em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:19.5667em;top:14.7584em;\"><span class=\"stl_277 stl_08 stl_677\">1,394,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.2954em;top:14.7584em;\"><span class=\"stl_277 stl_08 stl_173\">1,082,525 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4386em;top:14.7584em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.7748em;top:14.7584em;\"><span class=\"stl_277 stl_08 stl_293\">2,477,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7242em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:20.7167em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_420\">2,720 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1429em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_124\">10,698 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2948em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_678\">7,167 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5498em;top:15.7803em;\"><span class=\"stl_277 stl_08 stl_320\">20,586 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7242em;top:16.8021em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Prepayment and loan from Government</span><sup style=\"top: -0.2077em;\"><span class=\"stl_367 stl_08 stl_676\" style=\"word-spacing:-0.0538em;\">2 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:21.9897em;top:16.8026em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.7141em;top:16.8026em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4385em;top:16.8026em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1629em;top:16.8026em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.406em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_224\">45,679 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1041em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_429\">93,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6685em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_291\">166 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3204em;top:17.8245em;\"><span class=\"stl_277 stl_08 stl_679\">139,413 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:20.126em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_597\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7141em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4385em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2991em;top:18.8464em;\"><span class=\"stl_277 stl_08 stl_597\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.1322em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_630\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7141em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4385em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.3054em;top:19.8682em;\"><span class=\"stl_277 stl_08 stl_630\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_215\" style=\"word-spacing:-0.038em;\">Non-derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:19.3241em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_81\">2,842,528 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.161em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_276\">1,186,791 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.1035em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_355\">7,333 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5304em;top:20.8845em;\"><span class=\"stl_191 stl_15 stl_455\">4,036,652 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6979em;top:22.877em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.0454em;top:24.0764em;\"><span class=\"stl_191 stl_15 stl_443\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:23.074em;top:24.0764em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9591em;top:24.0764em;\"><span class=\"stl_191 stl_15 stl_442\" style=\"word-spacing:-0.0373em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:24.832em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4172em;top:24.8264em;\"><span class=\"stl_191 stl_15 stl_186\" style=\"word-spacing:-0.0233em;\">1 year</span></div><div class=\"stl_01\" style=\"left:23.079em;top:24.8264em;\"><span class=\"stl_191 stl_15 stl_180\" style=\"word-spacing:-0.0307em;\">1 and 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5766em;top:24.8264em;\"><span class=\"stl_191 stl_15 stl_183\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:34.971em;top:24.8264em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7241em;top:26.5164em;\"><span class=\"stl_277 stl_08 stl_39\" style=\"word-spacing:-0.0231em;\">Deferred consideration</span><sup style=\"top: -0.2067em;\"><span class=\"stl_367 stl_08 stl_494\" style=\"word-spacing:-0.0397em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:20.0825em;top:26.5178em;\"><span class=\"stl_277 stl_08 stl_161\">297,460 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3406em;top:26.5178em;\"><span class=\"stl_277 stl_08 stl_162\">2,506,101 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4388em;top:26.5178em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.7494em;top:26.5178em;\"><span class=\"stl_277 stl_08 stl_225\">2,803,561 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:19.6656em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_681\">1,103,003 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1456em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_123\">10,355 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.1988em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_343\">9,423 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8313em;top:27.5396em;\"><span class=\"stl_277 stl_08 stl_574\">1,122,781 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:28.5615em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">Prepayment and loan from Government</span><sup style=\"top: -0.2076em;\"><span class=\"stl_367 stl_08 stl_680\" style=\"word-spacing:-0.0536em;\">2 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:21.9897em;top:28.562em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:24.8797em;top:28.562em;\"><span class=\"stl_277 stl_08 stl_654\">519,932 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.8516em;top:28.562em;\"><span class=\"stl_277 stl_08 stl_387\">70,503 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2429em;top:28.562em;\"><span class=\"stl_277 stl_08 stl_187\">590,435 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.3879em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_455\">24,487 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1129em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_326\">45,834 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4391em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.5941em;top:29.5839em;\"><span class=\"stl_277 stl_08 stl_121\">70,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7254em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:20.0679em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_303\">605,928 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7154em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4397em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.241em;top:30.6057em;\"><span class=\"stl_277 stl_08 stl_303\">605,928 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7254em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.0747em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_99\">265,775 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7147em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4391em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2479em;top:31.6276em;\"><span class=\"stl_277 stl_08 stl_99\">265,775 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_215\" style=\"word-spacing:-0.038em;\">Non-derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:19.3422em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_512\">2,296,653 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.0654em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_260\">3,082,222 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7535em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_558\">79,926 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5122em;top:32.6439em;\"><span class=\"stl_191 stl_15 stl_272\">5,458,801 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.1698em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:34.1322em;\"><span class=\"stl_74 stl_08 stl_682\" style=\"word-spacing:-0.0464em;\">Further explained in note 24. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.8713em;\"><span class=\"stl_370 stl_08 stl_24\">2</span></div><div class=\"stl_01\" style=\"left:5.1969em;top:34.8337em;\"><span class=\"stl_74 stl_08 stl_86\" style=\"word-spacing:-0.0494em;\">Further explained in note 25. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:MaturityAnalysisForDerivativeFinancialLiabilities",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2496": {
   "value": "<div class=\"stl_01\" style=\"left:21.7323em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_374\" style=\"word-spacing:-0.0315em;\">Transferred financial assets that are not derecognized \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:11.3739em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:48.3198em;top:11.3683em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9792em;top:11.3683em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:12.9289em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0361em;\">Carrying amount of transferred securities \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5092em;top:12.9289em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.7792em;top:12.9289em;\"><span class=\"stl_277 stl_08 stl_112\">1,084,916 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:13.8445em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Carrying amount of associated liabilities (security lending) \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5092em;top:13.8445em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.6879em;top:13.8445em;\"><span class=\"stl_277 stl_08 stl_579\">(1,103,661) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:14.7545em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0349em;\">Net position \u00a0</span></div><div class=\"stl_01\" style=\"left:49.501em;top:14.7545em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.276em;top:14.7545em;\"><span class=\"stl_191 stl_15 stl_349\">(18,745) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:16.5227em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Fair value hierarchy for financial instruments measured at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6635em;top:16.5227em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:17.7277em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:44.0417em;top:17.722em;\"><span class=\"stl_191 stl_15 stl_66\" style=\"word-spacing:-0.018em;\">Level 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.7029em;top:17.722em;\"><span class=\"stl_191 stl_15 stl_66\" style=\"word-spacing:-0.018em;\">Level 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9785em;top:17.722em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:19.2827em;\"><span class=\"stl_277 stl_08 stl_278\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:43.9292em;top:19.2827em;\"><span class=\"stl_277 stl_08 stl_244\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5085em;top:19.2827em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2517em;top:19.2827em;\"><span class=\"stl_277 stl_08 stl_244\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:20.1927em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:43.7548em;top:20.1927em;\"><span class=\"stl_191 stl_15 stl_326\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:49.501em;top:20.1927em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.0779em;top:20.1927em;\"><span class=\"stl_191 stl_15 stl_326\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:21.6114em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Derivative financial instruments to hedge future cash flow (currency) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8473em;top:21.6114em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.8973em;top:21.6114em;\"><span class=\"stl_277 stl_08 stl_321\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5585em;top:21.6114em;\"><span class=\"stl_277 stl_08 stl_321\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:22.527em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flow (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8467em;top:22.527em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.3298em;top:22.527em;\"><span class=\"stl_277 stl_08 stl_668\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.991em;top:22.527em;\"><span class=\"stl_277 stl_08 stl_668\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:23.437em;\"><span class=\"stl_191 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">Financial assets/liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8392em;top:23.437em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.7523em;top:23.437em;\"><span class=\"stl_191 stl_15 stl_68\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4135em;top:23.437em;\"><span class=\"stl_191 stl_15 stl_68\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.661em;top:25.2052em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:26.4102em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:44.0404em;top:26.4045em;\"><span class=\"stl_191 stl_15 stl_66\" style=\"word-spacing:-0.018em;\">Level 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.7017em;top:26.4045em;\"><span class=\"stl_191 stl_15 stl_66\" style=\"word-spacing:-0.018em;\">Level 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9773em;top:26.4045em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:27.9845em;\"><span class=\"stl_277 stl_08 stl_278\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:43.4873em;top:27.9845em;\"><span class=\"stl_277 stl_08 stl_302\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5079em;top:27.9845em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.8104em;top:27.9845em;\"><span class=\"stl_277 stl_08 stl_302\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:28.8945em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2698em;top:28.8945em;\"><span class=\"stl_191 stl_15 stl_123\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5004em;top:28.8945em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.5923em;top:28.8945em;\"><span class=\"stl_191 stl_15 stl_123\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:30.3133em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Derivative financial instruments to hedge future cash flow (currency) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.846em;top:30.3133em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.9204em;top:30.3133em;\"><span class=\"stl_277 stl_08 stl_387\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5817em;top:30.3133em;\"><span class=\"stl_277 stl_08 stl_387\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:31.2289em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flow (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.846em;top:31.2289em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.2504em;top:31.2289em;\"><span class=\"stl_277 stl_08 stl_224\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9117em;top:31.2289em;\"><span class=\"stl_277 stl_08 stl_224\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:32.1389em;\"><span class=\"stl_191 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">Financial assets/liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8379em;top:32.1389em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.7848em;top:32.1389em;\"><span class=\"stl_191 stl_15 stl_387\">31,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.446em;top:32.1389em;\"><span class=\"stl_191 stl_15 stl_387\">31,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:33.5577em;\"><span class=\"stl_277 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Derivative financial instruments at fair value (repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8448em;top:33.5577em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.0542em;top:33.5577em;\"><span class=\"stl_277 stl_08 stl_138\">(8,302) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7154em;top:33.5577em;\"><span class=\"stl_277 stl_08 stl_138\">(8,302) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:34.4733em;\"><span class=\"stl_277 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Liability relating to phantom shares \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8448em;top:34.4733em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.8517em;top:34.4733em;\"><span class=\"stl_277 stl_08 stl_683\">(11,102) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5129em;top:34.4733em;\"><span class=\"stl_277 stl_08 stl_683\">(11,102) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7285em;top:35.3833em;\"><span class=\"stl_191 stl_15 stl_248\" style=\"word-spacing:-0.0354em;\">Financial liabilities measured at fair value through \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7285em;top:36.2164em;\"><span class=\"stl_191 stl_15 stl_69\" style=\"word-spacing:-0.0352em;\">the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8367em;top:36.2164em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.5829em;top:36.2164em;\"><span class=\"stl_191 stl_15 stl_157\">(19,404) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2442em;top:36.2164em;\"><span class=\"stl_191 stl_15 stl_157\">(19,404) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:15.7964em;\"><span class=\"stl_585 stl_15 stl_422\" style=\"word-spacing:-0.0314em;\">Transferred financial assets that are not derecognized \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:16.6145em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">In 2022 the Company entered into transactions that \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:17.427em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">transfer ownership of securities to a counterparty, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:18.2395em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">while the Company retains the risks associated with \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:19.052em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">the holding of the securities. As the Company retains \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:19.8645em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">all risks, the securities remain in the balance sheet, and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:20.677em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">the transactions are accounted for as loans received \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:21.4895em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">against collateral (repo transactions and security \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:22.302em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">lending). The transactions involve selling the securities \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:23.1145em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0252em;\">to be repurchased at a fixed price at a later date. Coun- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:23.927em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">terparties are entitled to sell the securities or deposit \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:24.7395em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">them as collateral for loans. These agreements has \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:25.552em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">been fulfilled and terminated during 2023, why no such \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:26.3645em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">arrangements exists as of December 31, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:27.8802em;\"><span class=\"stl_585 stl_15 stl_18\" style=\"word-spacing:-0.0301em;\">Securities (level 1) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:28.6983em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0355em;\">The portfolio of publicly traded government bonds, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:29.5108em;\"><span class=\"stl_532 stl_08 stl_176\" style=\"word-spacing:-0.0376em;\">publicly traded mortgage bonds and bank bonds is \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:30.3233em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">valued at listed prices and price quotas. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:31.8389em;\"><span class=\"stl_585 stl_15 stl_280\" style=\"word-spacing:-0.0341em;\">Derivative financial instruments (level 2) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:32.657em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0343em;\">Currency forward contracts, currency option contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:33.4695em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">and currency swap contracts are valued according to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:34.282em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">generally accepted valuation methods based on rele- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:35.0945em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0354em;\">vant observable swap curves and exchange rates. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:36.6158em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Liability relating to phantom shares is determined using \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:37.4283em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">the Black-Scholes. The valuation is based on observable \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:38.2408em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0252em;\">share price, interest rates and volatility rates. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCollateralExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2497": {
   "value": "<div class=\"stl_01\" style=\"left:21.7323em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_374\" style=\"word-spacing:-0.0315em;\">Transferred financial assets that are not derecognized \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:11.3739em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:48.3198em;top:11.3683em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9792em;top:11.3683em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:12.9289em;\"><span class=\"stl_277 stl_08 stl_278\" style=\"word-spacing:-0.0361em;\">Carrying amount of transferred securities \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5092em;top:12.9289em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.7792em;top:12.9289em;\"><span class=\"stl_277 stl_08 stl_112\">1,084,916 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:13.8445em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Carrying amount of associated liabilities (security lending) \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5092em;top:13.8445em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.6879em;top:13.8445em;\"><span class=\"stl_277 stl_08 stl_579\">(1,103,661) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:14.7545em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0349em;\">Net position \u00a0</span></div><div class=\"stl_01\" style=\"left:49.501em;top:14.7545em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.276em;top:14.7545em;\"><span class=\"stl_191 stl_15 stl_349\">(18,745) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:16.5227em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Fair value hierarchy for financial instruments measured at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6635em;top:16.5227em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:17.7277em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:44.0417em;top:17.722em;\"><span class=\"stl_191 stl_15 stl_66\" style=\"word-spacing:-0.018em;\">Level 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.7029em;top:17.722em;\"><span class=\"stl_191 stl_15 stl_66\" style=\"word-spacing:-0.018em;\">Level 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9785em;top:17.722em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:19.2827em;\"><span class=\"stl_277 stl_08 stl_278\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:43.9292em;top:19.2827em;\"><span class=\"stl_277 stl_08 stl_244\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5085em;top:19.2827em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2517em;top:19.2827em;\"><span class=\"stl_277 stl_08 stl_244\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:20.1927em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:43.7548em;top:20.1927em;\"><span class=\"stl_191 stl_15 stl_326\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:49.501em;top:20.1927em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.0779em;top:20.1927em;\"><span class=\"stl_191 stl_15 stl_326\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:21.6114em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Derivative financial instruments to hedge future cash flow (currency) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8473em;top:21.6114em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.8973em;top:21.6114em;\"><span class=\"stl_277 stl_08 stl_321\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5585em;top:21.6114em;\"><span class=\"stl_277 stl_08 stl_321\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:22.527em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flow (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8467em;top:22.527em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.3298em;top:22.527em;\"><span class=\"stl_277 stl_08 stl_668\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.991em;top:22.527em;\"><span class=\"stl_277 stl_08 stl_668\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:23.437em;\"><span class=\"stl_191 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">Financial assets/liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8392em;top:23.437em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.7523em;top:23.437em;\"><span class=\"stl_191 stl_15 stl_68\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4135em;top:23.437em;\"><span class=\"stl_191 stl_15 stl_68\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.661em;top:25.2052em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:26.4102em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:44.0404em;top:26.4045em;\"><span class=\"stl_191 stl_15 stl_66\" style=\"word-spacing:-0.018em;\">Level 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.7017em;top:26.4045em;\"><span class=\"stl_191 stl_15 stl_66\" style=\"word-spacing:-0.018em;\">Level 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9773em;top:26.4045em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:27.9845em;\"><span class=\"stl_277 stl_08 stl_278\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:43.4873em;top:27.9845em;\"><span class=\"stl_277 stl_08 stl_302\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5079em;top:27.9845em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.8104em;top:27.9845em;\"><span class=\"stl_277 stl_08 stl_302\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:28.8945em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2698em;top:28.8945em;\"><span class=\"stl_191 stl_15 stl_123\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:49.5004em;top:28.8945em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.5923em;top:28.8945em;\"><span class=\"stl_191 stl_15 stl_123\">2,269,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:30.3133em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Derivative financial instruments to hedge future cash flow (currency) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.846em;top:30.3133em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.9204em;top:30.3133em;\"><span class=\"stl_277 stl_08 stl_387\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5817em;top:30.3133em;\"><span class=\"stl_277 stl_08 stl_387\">30,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:31.2289em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flow (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.846em;top:31.2289em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.2504em;top:31.2289em;\"><span class=\"stl_277 stl_08 stl_224\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9117em;top:31.2289em;\"><span class=\"stl_277 stl_08 stl_224\">1,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:32.1389em;\"><span class=\"stl_191 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">Financial assets/liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8379em;top:32.1389em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.7848em;top:32.1389em;\"><span class=\"stl_191 stl_15 stl_387\">31,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.446em;top:32.1389em;\"><span class=\"stl_191 stl_15 stl_387\">31,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:33.5577em;\"><span class=\"stl_277 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Derivative financial instruments at fair value (repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8448em;top:33.5577em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.0542em;top:33.5577em;\"><span class=\"stl_277 stl_08 stl_138\">(8,302) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7154em;top:33.5577em;\"><span class=\"stl_277 stl_08 stl_138\">(8,302) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7292em;top:34.4733em;\"><span class=\"stl_277 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Liability relating to phantom shares \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8448em;top:34.4733em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.8517em;top:34.4733em;\"><span class=\"stl_277 stl_08 stl_683\">(11,102) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5129em;top:34.4733em;\"><span class=\"stl_277 stl_08 stl_683\">(11,102) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7285em;top:35.3833em;\"><span class=\"stl_191 stl_15 stl_248\" style=\"word-spacing:-0.0354em;\">Financial liabilities measured at fair value through \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7285em;top:36.2164em;\"><span class=\"stl_191 stl_15 stl_69\" style=\"word-spacing:-0.0352em;\">the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8367em;top:36.2164em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.5829em;top:36.2164em;\"><span class=\"stl_191 stl_15 stl_157\">(19,404) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2442em;top:36.2164em;\"><span class=\"stl_191 stl_15 stl_157\">(19,404) \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2505": {
   "value": "<div class=\"stl_01\" style=\"left:55.7442em;top:31.8389em;\"><span class=\"stl_585 stl_15 stl_280\" style=\"word-spacing:-0.0341em;\">Derivative financial instruments (level 2) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:32.657em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0343em;\">Currency forward contracts, currency option contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:33.4695em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">and currency swap contracts are valued according to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:34.282em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">generally accepted valuation methods based on rele- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:35.0945em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0354em;\">vant observable swap curves and exchange rates. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:36.6158em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">Liability relating to phantom shares is determined using \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:37.4283em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">the Black-Scholes. The valuation is based on observable \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7442em;top:38.2408em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0252em;\">share price, interest rates and volatility rates. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2506": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_286\" style=\"word-spacing:0.0095em;\">Note 24 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_85\" style=\"word-spacing:0.0143em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Deferred consideration including contingent milestone \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">payments is recognized when its payment is probable \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">and it can be measured reliably and is at initial recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">nition measured at fair value which equals present \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">value of future deferred payments. Subsequently, the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">deferred consideration is measured at amortized cost. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">This means that the difference between the present \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">value of the consideration and the nominal amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:11.2043em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">due is recognized in the income statement as a finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.0374em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">cial expense over the period until expected payment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.8706em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">date using the effective interest method. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:14.5374em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">The expected phasing of future payments and the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:15.3706em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">probability of contingent payments are assessed on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:16.2037em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">each reporting date and the impact is recognized as a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:17.0368em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">financial item. \u00a0</span></div><div class=\"stl_01\" style=\"left:19.0352em;top:19.3021em;\"><span class=\"stl_191 stl_15 stl_443\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:23.064em;top:19.3021em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9484em;top:19.3021em;\"><span class=\"stl_191 stl_15 stl_176\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.0577em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4071em;top:20.0521em;\"><span class=\"stl_191 stl_15 stl_186\" style=\"word-spacing:-0.0233em;\">1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3602em;top:20.0521em;\"><span class=\"stl_191 stl_15 stl_78\" style=\"word-spacing:-0.0304em;\">1 and 5 year \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5659em;top:20.0521em;\"><span class=\"stl_191 stl_15 stl_183\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9602em;top:20.0521em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:21.7365em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:22.764em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Deferred consideration, product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:19.6402em;top:22.764em;\"><span class=\"stl_277 stl_08 stl_607\">1,163,599 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.8127em;top:22.764em;\"><span class=\"stl_277 stl_08 stl_126\">709,635 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4277em;top:22.764em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.719em;top:22.764em;\"><span class=\"stl_277 stl_08 stl_395\">1,873,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:23.7859em;\"><span class=\"stl_277 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">Deferred consideration, development project \u00a0</span></div><div class=\"stl_01\" style=\"left:20.0515em;top:23.7859em;\"><span class=\"stl_277 stl_08 stl_336\">196,534 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.8165em;top:23.7859em;\"><span class=\"stl_277 stl_08 stl_312\">307,221 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4271em;top:23.7859em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2515em;top:23.7859em;\"><span class=\"stl_277 stl_08 stl_125\">503,755 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:24.8021em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:19.414em;top:24.8021em;\"><span class=\"stl_191 stl_15 stl_149\">1,360,133 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.0959em;top:24.8021em;\"><span class=\"stl_191 stl_15 stl_99\">1,016,856 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4202em;top:24.8021em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.5321em;top:24.8021em;\"><span class=\"stl_191 stl_15 stl_24\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:27.0309em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:28.0584em;\"><span class=\"stl_277 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Deferred consideration, product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:21.979em;top:28.0584em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:24.2946em;top:28.0584em;\"><span class=\"stl_277 stl_08 stl_426\">2,020,638 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4277em;top:28.0584em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.7434em;top:28.0584em;\"><span class=\"stl_277 stl_08 stl_426\">2,020,638 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:29.0802em;\"><span class=\"stl_277 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">Deferred consideration, license agreement \u00a0</span></div><div class=\"stl_01\" style=\"left:20.094em;top:29.0802em;\"><span class=\"stl_277 stl_08 stl_312\">287,436 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.7902em;top:29.0802em;\"><span class=\"stl_277 stl_08 stl_48\">304,019 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4284em;top:29.0802em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2559em;top:29.0802em;\"><span class=\"stl_277 stl_08 stl_155\">591,455 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:30.0965em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:19.914em;top:30.0965em;\"><span class=\"stl_191 stl_15 stl_337\">287,436 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.0646em;top:30.0965em;\"><span class=\"stl_191 stl_15 stl_395\">2,324,657 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4202em;top:30.0965em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.5346em;top:30.0965em;\"><span class=\"stl_191 stl_15 stl_611\">2,612,093 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:32.6508em;\"><span class=\"stl_585 stl_15 stl_441\" style=\"word-spacing:-0.0378em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:33.4896em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">The Asset Purchase Agreement with GSK includes mile- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:34.3227em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">stone payments relating to transfer and registration \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:35.1559em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">of marketing authorizations, technology transfer of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:35.989em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">different steps of the production and packaging activi- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:36.8221em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">ties as well as a milestone payment when all services \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:37.6552em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">agreed to be rendered by GSK has been completed. In \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7215em;top:32.6552em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">total EUR 470 million. During 2023 one milestone was \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7215em;top:33.4884em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0265em;\">reached and the invoice was received in December \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7215em;top:34.3215em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">2023 and paid in January 2024, EUR 30 million. The \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7215em;top:35.1546em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">majority of the remaining milestone payments are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7215em;top:35.9877em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">expected to be payable in 2024. The completion mile- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7215em;top:36.8208em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0341em;\">stone is expected to be payable beginning of 2025. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.1843em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">The cash flow from payment of deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0174em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">will be recognized as cash flow from investment activ- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8505em;\"><span class=\"stl_532 stl_08 stl_61\">ities. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5174em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">The Asset Purchase Agreement with GSK also includes a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3505em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0353em;\">sales milestone of EUR 25 million. As per December 31, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.1836em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">2023 Management does not judge the sales milestone \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0168em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">to be probable and therefore the sales milestone has \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8499em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">not been recognized as either part of the product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.683em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0261em;\">(note 15) nor the deferred consideration. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3499em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">The carrying amount are measured using a discount \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.183em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0246em;\">rate of 4% per annum. The discount rate was deter- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.0161em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">mined at intial recognition based on an interest rate \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.8493em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">on a similar loan of the same size and maturity as the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.6824em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">contingent milestone payments and the Company's \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.5155em;\"><span class=\"stl_532 stl_08 stl_39\" style=\"word-spacing:-0.0233em;\">credit rating as of December 31, 2019. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.1824em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">The fair value of the deferred consideration as per \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.0155em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">December 31, 2023 amounts to DKK 1,839 million (DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.8486em;\"><span class=\"stl_532 stl_08 stl_59\" style=\"word-spacing:-0.0241em;\">1,937 million), measured using the updated discount \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.6818em;\"><span class=\"stl_532 stl_08 stl_214\" style=\"word-spacing:-0.0197em;\">rate of 6.25% (6.7%). The discount rate has been deter- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.5149em;\"><span class=\"stl_532 stl_08 stl_204\" style=\"word-spacing:-0.038em;\">mined based on the same components as described \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:30.348em;\"><span class=\"stl_532 stl_08 stl_255\">above. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:32.0093em;\"><span class=\"stl_585 stl_15 stl_400\" style=\"word-spacing:-0.0339em;\">Development project \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:32.848em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.6811em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Emergent BioSolutions includes milestone payments \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:34.5143em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">relating to submission and approval of Biologics License \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:35.3474em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">Application (BLA) to FDA and Marketing Authorization \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.1805em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">Application to EMA for the chikungunya development \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:37.0136em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">asset. In total USD 80 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.1805em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">At initial recognition the net present value of probable \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0136em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">future development milestone payments to Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8468em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">BioSolutions amounted to DKK 499 million and was \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.6799em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">recognized as deferred consideration. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3468em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">The cash flow from payment of deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.1799em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">will be recognized as cash flow from investment activ- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.013em;\"><span class=\"stl_532 stl_08 stl_61\">ities. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.6799em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">The carrying amount are measured using a discount \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.513em;\"><span class=\"stl_532 stl_08 stl_38\" style=\"word-spacing:-0.0243em;\">rate of 6% per annum. The discount rate was deter- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3461em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">mined at intial recognition based on an interest rate \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.1793em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">on a similar loan of the same size and maturity as the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.0124em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">contingent milestone payments and the Company's \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8455em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0261em;\">credit rating as of May 15, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5124em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">The fair value of the deferred consideration as per \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3455em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">December 31, 2023 amounts to DKK 502 million, meas- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.1786em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">ured using the updated discount rate of 6.25%. The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.0118em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">discount rate has been determined based on the same \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.8449em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0337em;\">components as described above. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:29.5118em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:30.3449em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Emergent BioSolutions in May 2023 includes an earnout \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.178em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">payment starting at USD 30 million. The earnout \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.0111em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">payment relates to sale of Vivotif and Vaxchora. As \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.8443em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0337em;\">per December 31, 2023 Management does not judge \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:33.6774em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">the sales milestone to be probable and therefore the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:34.5105em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">earnout payment has not been recognized as either \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:35.3436em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">part of the project rights (note 15) nor the deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.1768em;\"><span class=\"stl_532 stl_08 stl_82\">consideration. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2133em;\"><span class=\"stl_585 stl_15 stl_213\" style=\"word-spacing:-0.0327em;\">License agreement \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">Under the terms of the license and collaboration \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">agreement concluded with AdaptVac July 2020, the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0269em;\">Company was committed to payment of potential \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5514em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">future development and sales milestones and tiered \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3845em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">royalties. Following the discontinuation of the ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.2177em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">development program only one milestone of EUR 10 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0508em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">million became payable. The invoice was received in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8839em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">December 2023 and paid in January 2024. The payment \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.717em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">is presented as cash flow from investment activities in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5502em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">the cash flow statement. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2507": {
   "value": "<div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Deferred consideration including contingent milestone \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">payments is recognized when its payment is probable \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">and it can be measured reliably and is at initial recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">nition measured at fair value which equals present \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">value of future deferred payments. Subsequently, the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">deferred consideration is measured at amortized cost. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">This means that the difference between the present \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">value of the consideration and the nominal amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:11.2043em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">due is recognized in the income statement as a finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.0374em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">cial expense over the period until expected payment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.8706em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">date using the effective interest method. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:14.5374em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">The expected phasing of future payments and the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:15.3706em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">probability of contingent payments are assessed on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:16.2037em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">each reporting date and the impact is recognized as a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:17.0368em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">financial item. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2520": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_575\" style=\"word-spacing:-0.0095em;\">Note 25 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_293\" style=\"word-spacing:0.0121em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government consists of an \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">upfront payment and additional milestone payments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">from the Danish Ministry of Health to support the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">development of ABNCoV2, the Company\u2019s COVID-19 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">vaccine candidate. All payments are potentially subject \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0263em;\">to repayment, however only upon successful marketing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">authorization of the vaccine by the European Medicines \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Agency (EMA). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">Initially the payments from the Danish Ministry of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0259em;\">Health is measured at the amount received that is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:11.2043em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">considered equal to the fair value of the obligation to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.0374em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">repay the amount to the Danish Ministry of Health. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:13.7043em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Subsequently, the financial liability part is measured at \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:14.5374em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">amortized cost. The interest rate used that is implicit \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:15.3706em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">in the transaction is based on an assessment of the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:16.2037em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">company\u2019s incremental borrowing rate. The amortiza- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:17.0368em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">tions and the implicit interest are presented as amorti- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:17.8699em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">zation expenses under financial expenses. \u00a0</span></div><div class=\"stl_01\" style=\"left:19.0352em;top:21.8021em;\"><span class=\"stl_191 stl_15 stl_443\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:23.064em;top:21.8021em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9484em;top:21.8021em;\"><span class=\"stl_191 stl_15 stl_176\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:22.5577em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4071em;top:22.5521em;\"><span class=\"stl_191 stl_15 stl_186\" style=\"word-spacing:-0.0233em;\">1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3602em;top:22.5521em;\"><span class=\"stl_191 stl_15 stl_78\" style=\"word-spacing:-0.0304em;\">1 and 5 year \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5659em;top:22.5521em;\"><span class=\"stl_191 stl_15 stl_183\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9602em;top:22.5521em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:24.2365em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:25.264em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:21.979em;top:25.264em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.7034em;top:25.264em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4277em;top:25.264em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1521em;top:25.264em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:26.2802em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:21.9715em;top:26.2802em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.6959em;top:26.2802em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4202em;top:26.2802em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1446em;top:26.2802em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:28.509em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:29.5365em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:21.979em;top:29.5365em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:24.7534em;top:29.5365em;\"><span class=\"stl_277 stl_08 stl_572\">566,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4277em;top:29.5365em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.2021em;top:29.5365em;\"><span class=\"stl_277 stl_08 stl_572\">566,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:30.5527em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:21.9715em;top:30.5527em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:24.5884em;top:30.5527em;\"><span class=\"stl_191 stl_15 stl_268\">566,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4202em;top:30.5527em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.0371em;top:30.5527em;\"><span class=\"stl_191 stl_15 stl_268\">566,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2133em;\"><span class=\"stl_585 stl_15 stl_176\" style=\"word-spacing:-0.0376em;\">Agreement with Danish Ministry of Health \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">In August 2021, the Company entered a funding agree- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">ment with the Danish Ministry of Health to further \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">advance the development of</span></div><div class=\"stl_01\" style=\"left:46.828em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_344\">ABNCoV2. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.3852em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">The agreement was valued at up to DKK 800 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.2183em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">and aimed to support the completion of the devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0514em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">opment towards licensure of ABNCoV2 as a booster \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.8845em;\"><span class=\"stl_532 stl_08 stl_55\">vaccine. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.5514em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">Under the agreement, Bavarian Nordic was entitled \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.3845em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">to an upfront payment of DKK 80 million, in addition \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.2177em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">to payments of up to DKK 720 million, which were \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.0508em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">contingent upon reaching a number of predefined mile- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.8839em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">stones including among others Phase 3 development \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.717em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">milestones and milestones related to development \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.5502em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">and upscaling of manufacturing process for commercial \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.3833em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">production of the vaccine. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:10.2164em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">The Company received the full funding of DKK 800 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.0495em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">million, of which DKK 240 million was received in 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.8827em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">ABNCoV2 met the primary endpoint in the phase 3 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.7158em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0343em;\">trial, demonstrating non-inferiority against the mRNA \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.5489em;\"><span class=\"stl_532 stl_08 stl_186\" style=\"word-spacing:-0.0234em;\">comparator. However, additional tests showed that \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.382em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">ABNCoV2 was not providing adequate protection \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.2152em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">against the latest mutated variants of the virus. After \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.0483em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">dialogue with EMA it was clear that ABNCoV2 could not \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.8814em;\"><span class=\"stl_532 stl_08 stl_178\" style=\"word-spacing:-0.0242em;\">be approved as a booster vaccine and that Covid-19 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.7145em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">vaccines need to be constantly adapted to latest vari- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.5477em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">ants, which is not possible with ABNCoV2. Following \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.3808em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">this outcome, the obtained funding from the Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.2139em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">Ministry of Health was reclassified from an obligation to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.047em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">a grant received, as the Company's vaccine candidate \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.8802em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">couldn't obtain a marketing authorization by EMA. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2521": {
   "value": "<div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government consists of an \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">upfront payment and additional milestone payments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">from the Danish Ministry of Health to support the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">development of ABNCoV2, the Company\u2019s COVID-19 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">vaccine candidate. All payments are potentially subject \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0263em;\">to repayment, however only upon successful marketing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">authorization of the vaccine by the European Medicines \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Agency (EMA). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">Initially the payments from the Danish Ministry of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0259em;\">Health is measured at the amount received that is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:11.2043em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">considered equal to the fair value of the obligation to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.0374em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">repay the amount to the Danish Ministry of Health. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:13.7043em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Subsequently, the financial liability part is measured at \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:14.5374em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0293em;\">amortized cost. The interest rate used that is implicit \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:15.3706em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">in the transaction is based on an assessment of the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:16.2037em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">company\u2019s incremental borrowing rate. The amortiza- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:17.0368em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">tions and the implicit interest are presented as amorti- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:17.8699em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">zation expenses under financial expenses. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2530": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_48\" style=\"word-spacing:0.007em;\">Note 26 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_101\" style=\"word-spacing:0.013em;\">Debt to credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Loans are measured at the time of borrowing at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">value less any transaction costs. Subsequently, debt is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">measured at amortized cost. This means that the differ- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">ence between the proceeds of the loan and the amount \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:11.2049em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">to be repaid is recognized in the income statement over \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:12.0381em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">the term of the loan as a financial expense using the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:12.8712em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">effective interest method. \u00a0</span></div><div class=\"stl_01\" style=\"left:19.0352em;top:15.9688em;\"><span class=\"stl_191 stl_15 stl_443\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:23.064em;top:15.9688em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9484em;top:15.9688em;\"><span class=\"stl_191 stl_15 stl_176\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.7244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4071em;top:16.7188em;\"><span class=\"stl_191 stl_15 stl_186\" style=\"word-spacing:-0.0233em;\">1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3602em;top:16.7188em;\"><span class=\"stl_191 stl_15 stl_78\" style=\"word-spacing:-0.0304em;\">1 and 5 year \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5659em;top:16.7188em;\"><span class=\"stl_191 stl_15 stl_183\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9602em;top:16.7188em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:18.4031em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:19.4306em;\"><span class=\"stl_277 stl_08 stl_53\">Mortgage</span><sup style=\"top: -0.2076em;\"><span class=\"stl_367 stl_08 stl_462\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:20.757em;top:19.4311em;\"><span class=\"stl_277 stl_08 stl_565\">1,913 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.4445em;top:19.4311em;\"><span class=\"stl_277 stl_08 stl_127\">8,470 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.1488em;top:19.4311em;\"><span class=\"stl_277 stl_08 stl_333\">6,665 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6095em;top:19.4311em;\"><span class=\"stl_277 stl_08 stl_574\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7138em;top:20.4474em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:20.6382em;top:20.4474em;\"><span class=\"stl_191 stl_15 stl_354\">1,913 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.3232em;top:20.4474em;\"><span class=\"stl_191 stl_15 stl_365\">8,470 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0288em;top:20.4474em;\"><span class=\"stl_191 stl_15 stl_232\">6,665 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4626em;top:20.4474em;\"><span class=\"stl_191 stl_15 stl_276\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7138em;top:22.6761em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7138em;top:23.7036em;\"><span class=\"stl_277 stl_08 stl_87\">Mortgage</span><sup style=\"top: -0.2074em;\"><span class=\"stl_367 stl_08 stl_79\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:20.7309em;top:23.7044em;\"><span class=\"stl_277 stl_08 stl_152\">1,922 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.4228em;top:23.7044em;\"><span class=\"stl_277 stl_08 stl_272\">8,283 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.149em;top:23.7044em;\"><span class=\"stl_277 stl_08 stl_341\">8,725 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5778em;top:23.7044em;\"><span class=\"stl_277 stl_08 stl_85\">18,930 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:24.7262em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Security lending (repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:19.6659em;top:24.7262em;\"><span class=\"stl_277 stl_08 stl_552\">1,103,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.704em;top:24.7262em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4284em;top:24.7262em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.839em;top:24.7262em;\"><span class=\"stl_277 stl_08 stl_595\">1,103,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.7425em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:19.4071em;top:25.7425em;\"><span class=\"stl_191 stl_15 stl_151\">1,105,583 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.3071em;top:25.7425em;\"><span class=\"stl_191 stl_15 stl_361\">8,283 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0334em;top:25.7425em;\"><span class=\"stl_191 stl_15 stl_272\">8,725 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.584em;top:25.7425em;\"><span class=\"stl_191 stl_15 stl_339\">1,122,591 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.268em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:5.1864em;top:27.2304em;\"><span class=\"stl_74 stl_08 stl_26\" style=\"word-spacing:-0.0425em;\">Floating interest - swapped to fixed interest of 0.9625% - expiry 2031 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.7747em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">The fair value of the debt to credit institutions amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:29.6078em;\"><span class=\"stl_532 stl_08 stl_88\" style=\"word-spacing:-0.0219em;\">to DKK 17.0 million (DKK 1,122.6 million). The fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:30.441em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">of mortgage debt is based on the market value of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:31.2741em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">underlying bonds set by the bank (level 2), whereas \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.1072em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0357em;\">the fair value of the security lending is based on a \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.9403em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">discounted cash analysis flow of future payments of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:33.7735em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">interest and principal by applying a market based \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:34.6066em;\"><span class=\"stl_532 stl_08 stl_235\" style=\"word-spacing:-0.0191em;\">discount rate (level 2). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:28.7735em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">The tables detail changes in the Group's liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:29.6066em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">arising from financing activities, both cash and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:30.4397em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">non-cash changes. Liabilities arising from financing \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:31.2728em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">activities are those for which cash flows were, or future \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:32.106em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">cash flows will be, classified in the Group's consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:32.9391em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">statement of cash flow as cash flows from financing \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:33.7722em;\"><span class=\"stl_532 stl_08 stl_248\">activities. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.0377em;\"><span class=\"stl_191 stl_15 stl_89\" style=\"word-spacing:-0.0358em;\">Cash flow from financing activities \u00a0</span></div><div class=\"stl_01\" style=\"left:53.9877em;top:10.8233em;\"><span class=\"stl_191 stl_15 stl_253\">January \u00a0</span></div><div class=\"stl_01\" style=\"left:59.6227em;top:10.8233em;\"><span class=\"stl_191 stl_15 stl_393\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:62.9708em;top:10.8233em;\"><span class=\"stl_191 stl_15 stl_409\">Non-cash \u00a0</span></div><div class=\"stl_01\" style=\"left:67.4833em;top:10.8233em;\"><span class=\"stl_191 stl_15 stl_69\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.5789em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:54.1239em;top:11.5733em;\"><span class=\"stl_191 stl_15 stl_125\" style=\"word-spacing:0.014em;\">1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.817em;top:11.5733em;\"><span class=\"stl_191 stl_15 stl_175\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5414em;top:11.5733em;\"><span class=\"stl_191 stl_15 stl_175\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9577em;top:11.5733em;\"><span class=\"stl_191 stl_15 stl_613\" style=\"word-spacing:0.0196em;\">31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.2577em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.2852em;\"><span class=\"stl_277 stl_08 stl_241\">Mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:54.4308em;top:14.2852em;\"><span class=\"stl_277 stl_08 stl_85\">18,930 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.2864em;top:14.2852em;\"><span class=\"stl_277 stl_08 stl_275\">(1,882) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4539em;top:14.2852em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.6352em;top:14.2852em;\"><span class=\"stl_277 stl_08 stl_574\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:15.3071em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Security lending (repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.6914em;top:15.3071em;\"><span class=\"stl_277 stl_08 stl_552\">1,103,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.247em;top:15.3071em;\"><span class=\"stl_277 stl_08 stl_684\">(1,103,661) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4539em;top:15.3071em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:15.3071em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:16.3289em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0551em;top:16.3289em;\"><span class=\"stl_277 stl_08 stl_572\">566,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.792em;top:16.3289em;\"><span class=\"stl_277 stl_08 stl_562\">240,000 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3214em;top:16.3289em;\"><span class=\"stl_277 stl_08 stl_187\">(806,420) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:16.3289em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:17.3508em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:54.4352em;top:17.3508em;\"><span class=\"stl_277 stl_08 stl_121\">70,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.9314em;top:17.3508em;\"><span class=\"stl_277 stl_08 stl_99\">(34,270) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.857em;top:17.3508em;\"><span class=\"stl_277 stl_08 stl_444\">92,203 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2414em;top:17.3508em;\"><span class=\"stl_277 stl_08 stl_420\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:18.3671em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Total liabilities from financing activities \u00a0</span></div><div class=\"stl_01\" style=\"left:53.4508em;top:18.3671em;\"><span class=\"stl_191 stl_15 stl_685\">1,759,332 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.4677em;top:18.3671em;\"><span class=\"stl_191 stl_15 stl_250\">(899,813) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.1583em;top:18.3671em;\"><span class=\"stl_191 stl_15 stl_153\">(714,217) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1083em;top:18.3671em;\"><span class=\"stl_191 stl_15 stl_308\">145,302 \u00a0</span></div><div class=\"stl_01\" style=\"left:53.9864em;top:20.3596em;\"><span class=\"stl_191 stl_15 stl_253\">January \u00a0</span></div><div class=\"stl_01\" style=\"left:59.6214em;top:20.3596em;\"><span class=\"stl_191 stl_15 stl_393\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:62.9695em;top:20.3596em;\"><span class=\"stl_191 stl_15 stl_409\">Non-cash \u00a0</span></div><div class=\"stl_01\" style=\"left:67.482em;top:20.3596em;\"><span class=\"stl_191 stl_15 stl_69\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:21.1152em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:54.1208em;top:21.1096em;\"><span class=\"stl_191 stl_15 stl_49\" style=\"word-spacing:0.0125em;\">1, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8158em;top:21.1096em;\"><span class=\"stl_191 stl_15 stl_175\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5402em;top:21.1096em;\"><span class=\"stl_191 stl_15 stl_175\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9539em;top:21.1096em;\"><span class=\"stl_191 stl_15 stl_106\" style=\"word-spacing:0.0184em;\">31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:22.7939em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:23.8214em;\"><span class=\"stl_277 stl_08 stl_241\">Mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:54.4783em;top:23.8214em;\"><span class=\"stl_277 stl_08 stl_577\">21,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.3133em;top:23.8214em;\"><span class=\"stl_277 stl_08 stl_565\">(2,144) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4526em;top:23.8214em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.6027em;top:23.8214em;\"><span class=\"stl_277 stl_08 stl_85\">18,930 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:24.8433em;\"><span class=\"stl_277 stl_08 stl_200\" style=\"word-spacing:-0.0337em;\">European Investment Bank (loan in DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:54.1364em;top:24.8433em;\"><span class=\"stl_277 stl_08 stl_391\">372,195 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.6527em;top:24.8433em;\"><span class=\"stl_277 stl_08 stl_279\">(372,195) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4526em;top:24.8433em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.177em;top:24.8433em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:25.8652em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Security lending (repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0458em;top:25.8652em;\"><span class=\"stl_277 stl_08 stl_411\">500,000 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.812em;top:25.8652em;\"><span class=\"stl_277 stl_08 stl_390\">603,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4526em;top:25.8652em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.8633em;top:25.8652em;\"><span class=\"stl_277 stl_08 stl_552\">1,103,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:26.8871em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:54.1276em;top:26.8871em;\"><span class=\"stl_277 stl_08 stl_296\">160,511 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7664em;top:26.8871em;\"><span class=\"stl_277 stl_08 stl_212\">400,000 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1783em;top:26.8871em;\"><span class=\"stl_277 stl_08 stl_305\">5,909 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2277em;top:26.8871em;\"><span class=\"stl_277 stl_08 stl_572\">566,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:27.9089em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:54.422em;top:27.9089em;\"><span class=\"stl_277 stl_08 stl_337\">78,813 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.9733em;top:27.9089em;\"><span class=\"stl_277 stl_08 stl_563\">(21,981) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8589em;top:27.9089em;\"><span class=\"stl_277 stl_08 stl_129\">13,489 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6076em;top:27.9089em;\"><span class=\"stl_277 stl_08 stl_121\">70,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:28.9252em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Total liabilities from financing activities \u00a0</span></div><div class=\"stl_01\" style=\"left:53.462em;top:28.9252em;\"><span class=\"stl_191 stl_15 stl_637\">1,132,593 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.6739em;top:28.9252em;\"><span class=\"stl_191 stl_15 stl_155\">607,341 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7551em;top:28.9252em;\"><span class=\"stl_191 stl_15 stl_312\">19,398 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6233em;top:28.9252em;\"><span class=\"stl_191 stl_15 stl_685\">1,759,332 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2531": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_48\" style=\"word-spacing:0.007em;\">Note 26 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_101\" style=\"word-spacing:0.013em;\">Debt to credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:19.0352em;top:15.9688em;\"><span class=\"stl_191 stl_15 stl_443\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:23.064em;top:15.9688em;\"><span class=\"stl_191 stl_15 stl_393\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9484em;top:15.9688em;\"><span class=\"stl_191 stl_15 stl_176\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.7244em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4071em;top:16.7188em;\"><span class=\"stl_191 stl_15 stl_186\" style=\"word-spacing:-0.0233em;\">1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3602em;top:16.7188em;\"><span class=\"stl_191 stl_15 stl_78\" style=\"word-spacing:-0.0304em;\">1 and 5 year \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5659em;top:16.7188em;\"><span class=\"stl_191 stl_15 stl_183\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9602em;top:16.7188em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:18.4031em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:19.4306em;\"><span class=\"stl_277 stl_08 stl_53\">Mortgage</span><sup style=\"top: -0.2076em;\"><span class=\"stl_367 stl_08 stl_462\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:20.757em;top:19.4311em;\"><span class=\"stl_277 stl_08 stl_565\">1,913 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.4445em;top:19.4311em;\"><span class=\"stl_277 stl_08 stl_127\">8,470 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.1488em;top:19.4311em;\"><span class=\"stl_277 stl_08 stl_333\">6,665 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6095em;top:19.4311em;\"><span class=\"stl_277 stl_08 stl_574\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7138em;top:20.4474em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:20.6382em;top:20.4474em;\"><span class=\"stl_191 stl_15 stl_354\">1,913 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.3232em;top:20.4474em;\"><span class=\"stl_191 stl_15 stl_365\">8,470 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0288em;top:20.4474em;\"><span class=\"stl_191 stl_15 stl_232\">6,665 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4626em;top:20.4474em;\"><span class=\"stl_191 stl_15 stl_276\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7138em;top:22.6761em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7138em;top:23.7036em;\"><span class=\"stl_277 stl_08 stl_87\">Mortgage</span><sup style=\"top: -0.2074em;\"><span class=\"stl_367 stl_08 stl_79\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:20.7309em;top:23.7044em;\"><span class=\"stl_277 stl_08 stl_152\">1,922 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.4228em;top:23.7044em;\"><span class=\"stl_277 stl_08 stl_272\">8,283 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.149em;top:23.7044em;\"><span class=\"stl_277 stl_08 stl_341\">8,725 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5778em;top:23.7044em;\"><span class=\"stl_277 stl_08 stl_85\">18,930 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:24.7262em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Security lending (repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:19.6659em;top:24.7262em;\"><span class=\"stl_277 stl_08 stl_552\">1,103,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.704em;top:24.7262em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.4284em;top:24.7262em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.839em;top:24.7262em;\"><span class=\"stl_277 stl_08 stl_595\">1,103,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.7425em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:19.4071em;top:25.7425em;\"><span class=\"stl_191 stl_15 stl_151\">1,105,583 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.3071em;top:25.7425em;\"><span class=\"stl_191 stl_15 stl_361\">8,283 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0334em;top:25.7425em;\"><span class=\"stl_191 stl_15 stl_272\">8,725 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.584em;top:25.7425em;\"><span class=\"stl_191 stl_15 stl_339\">1,122,591 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.268em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:5.1864em;top:27.2304em;\"><span class=\"stl_74 stl_08 stl_26\" style=\"word-spacing:-0.0425em;\">Floating interest - swapped to fixed interest of 0.9625% - expiry 2031 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.7747em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">The fair value of the debt to credit institutions amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:29.6078em;\"><span class=\"stl_532 stl_08 stl_88\" style=\"word-spacing:-0.0219em;\">to DKK 17.0 million (DKK 1,122.6 million). The fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:30.441em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">of mortgage debt is based on the market value of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:31.2741em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">underlying bonds set by the bank (level 2), whereas \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.1072em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0357em;\">the fair value of the security lending is based on a \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.9403em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">discounted cash analysis flow of future payments of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:33.7735em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">interest and principal by applying a market based \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:34.6066em;\"><span class=\"stl_532 stl_08 stl_235\" style=\"word-spacing:-0.0191em;\">discount rate (level 2). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:28.7735em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">The tables detail changes in the Group's liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:29.6066em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">arising from financing activities, both cash and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:30.4397em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">non-cash changes. Liabilities arising from financing \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:31.2728em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">activities are those for which cash flows were, or future \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:32.106em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">cash flows will be, classified in the Group's consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:32.9391em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">statement of cash flow as cash flows from financing \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:33.7722em;\"><span class=\"stl_532 stl_08 stl_248\">activities. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.0377em;\"><span class=\"stl_191 stl_15 stl_89\" style=\"word-spacing:-0.0358em;\">Cash flow from financing activities \u00a0</span></div><div class=\"stl_01\" style=\"left:53.9877em;top:10.8233em;\"><span class=\"stl_191 stl_15 stl_253\">January \u00a0</span></div><div class=\"stl_01\" style=\"left:59.6227em;top:10.8233em;\"><span class=\"stl_191 stl_15 stl_393\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:62.9708em;top:10.8233em;\"><span class=\"stl_191 stl_15 stl_409\">Non-cash \u00a0</span></div><div class=\"stl_01\" style=\"left:67.4833em;top:10.8233em;\"><span class=\"stl_191 stl_15 stl_69\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.5789em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:54.1239em;top:11.5733em;\"><span class=\"stl_191 stl_15 stl_125\" style=\"word-spacing:0.014em;\">1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.817em;top:11.5733em;\"><span class=\"stl_191 stl_15 stl_175\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5414em;top:11.5733em;\"><span class=\"stl_191 stl_15 stl_175\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9577em;top:11.5733em;\"><span class=\"stl_191 stl_15 stl_613\" style=\"word-spacing:0.0196em;\">31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.2577em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.2852em;\"><span class=\"stl_277 stl_08 stl_241\">Mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:54.4308em;top:14.2852em;\"><span class=\"stl_277 stl_08 stl_85\">18,930 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.2864em;top:14.2852em;\"><span class=\"stl_277 stl_08 stl_275\">(1,882) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4539em;top:14.2852em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.6352em;top:14.2852em;\"><span class=\"stl_277 stl_08 stl_574\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:15.3071em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Security lending (repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.6914em;top:15.3071em;\"><span class=\"stl_277 stl_08 stl_552\">1,103,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.247em;top:15.3071em;\"><span class=\"stl_277 stl_08 stl_684\">(1,103,661) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4539em;top:15.3071em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:15.3071em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:16.3289em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0551em;top:16.3289em;\"><span class=\"stl_277 stl_08 stl_572\">566,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.792em;top:16.3289em;\"><span class=\"stl_277 stl_08 stl_562\">240,000 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3214em;top:16.3289em;\"><span class=\"stl_277 stl_08 stl_187\">(806,420) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:16.3289em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:17.3508em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:54.4352em;top:17.3508em;\"><span class=\"stl_277 stl_08 stl_121\">70,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.9314em;top:17.3508em;\"><span class=\"stl_277 stl_08 stl_99\">(34,270) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.857em;top:17.3508em;\"><span class=\"stl_277 stl_08 stl_444\">92,203 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2414em;top:17.3508em;\"><span class=\"stl_277 stl_08 stl_420\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:18.3671em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Total liabilities from financing activities \u00a0</span></div><div class=\"stl_01\" style=\"left:53.4508em;top:18.3671em;\"><span class=\"stl_191 stl_15 stl_685\">1,759,332 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.4677em;top:18.3671em;\"><span class=\"stl_191 stl_15 stl_250\">(899,813) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.1583em;top:18.3671em;\"><span class=\"stl_191 stl_15 stl_153\">(714,217) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1083em;top:18.3671em;\"><span class=\"stl_191 stl_15 stl_308\">145,302 \u00a0</span></div><div class=\"stl_01\" style=\"left:53.9864em;top:20.3596em;\"><span class=\"stl_191 stl_15 stl_253\">January \u00a0</span></div><div class=\"stl_01\" style=\"left:59.6214em;top:20.3596em;\"><span class=\"stl_191 stl_15 stl_393\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:62.9695em;top:20.3596em;\"><span class=\"stl_191 stl_15 stl_409\">Non-cash \u00a0</span></div><div class=\"stl_01\" style=\"left:67.482em;top:20.3596em;\"><span class=\"stl_191 stl_15 stl_69\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:21.1152em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:54.1208em;top:21.1096em;\"><span class=\"stl_191 stl_15 stl_49\" style=\"word-spacing:0.0125em;\">1, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8158em;top:21.1096em;\"><span class=\"stl_191 stl_15 stl_175\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5402em;top:21.1096em;\"><span class=\"stl_191 stl_15 stl_175\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9539em;top:21.1096em;\"><span class=\"stl_191 stl_15 stl_106\" style=\"word-spacing:0.0184em;\">31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:22.7939em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:23.8214em;\"><span class=\"stl_277 stl_08 stl_241\">Mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:54.4783em;top:23.8214em;\"><span class=\"stl_277 stl_08 stl_577\">21,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.3133em;top:23.8214em;\"><span class=\"stl_277 stl_08 stl_565\">(2,144) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4526em;top:23.8214em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.6027em;top:23.8214em;\"><span class=\"stl_277 stl_08 stl_85\">18,930 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:24.8433em;\"><span class=\"stl_277 stl_08 stl_200\" style=\"word-spacing:-0.0337em;\">European Investment Bank (loan in DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:54.1364em;top:24.8433em;\"><span class=\"stl_277 stl_08 stl_391\">372,195 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.6527em;top:24.8433em;\"><span class=\"stl_277 stl_08 stl_279\">(372,195) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4526em;top:24.8433em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.177em;top:24.8433em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:25.8652em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Security lending (repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0458em;top:25.8652em;\"><span class=\"stl_277 stl_08 stl_411\">500,000 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.812em;top:25.8652em;\"><span class=\"stl_277 stl_08 stl_390\">603,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4526em;top:25.8652em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:67.8633em;top:25.8652em;\"><span class=\"stl_277 stl_08 stl_552\">1,103,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:26.8871em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:54.1276em;top:26.8871em;\"><span class=\"stl_277 stl_08 stl_296\">160,511 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7664em;top:26.8871em;\"><span class=\"stl_277 stl_08 stl_212\">400,000 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1783em;top:26.8871em;\"><span class=\"stl_277 stl_08 stl_305\">5,909 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2277em;top:26.8871em;\"><span class=\"stl_277 stl_08 stl_572\">566,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:27.9089em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:54.422em;top:27.9089em;\"><span class=\"stl_277 stl_08 stl_337\">78,813 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.9733em;top:27.9089em;\"><span class=\"stl_277 stl_08 stl_563\">(21,981) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8589em;top:27.9089em;\"><span class=\"stl_277 stl_08 stl_129\">13,489 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6076em;top:27.9089em;\"><span class=\"stl_277 stl_08 stl_121\">70,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:28.9252em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0344em;\">Total liabilities from financing activities \u00a0</span></div><div class=\"stl_01\" style=\"left:53.462em;top:28.9252em;\"><span class=\"stl_191 stl_15 stl_637\">1,132,593 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.6739em;top:28.9252em;\"><span class=\"stl_191 stl_15 stl_155\">607,341 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7551em;top:28.9252em;\"><span class=\"stl_191 stl_15 stl_312\">19,398 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6233em;top:28.9252em;\"><span class=\"stl_191 stl_15 stl_685\">1,759,332 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2532": {
   "value": "<div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Loans are measured at the time of borrowing at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">value less any transaction costs. Subsequently, debt is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">measured at amortized cost. This means that the differ- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">ence between the proceeds of the loan and the amount \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:11.2049em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">to be repaid is recognized in the income statement over \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:12.0381em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">the term of the loan as a financial expense using the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:12.8712em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">effective interest method. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2547": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_324\" style=\"word-spacing:-0.003em;\">Note 27 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_122\" style=\"word-spacing:0.0138em;\">Retirement benefit obligations \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">In defined contribution plans, the Group makes regular \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">payments of fixed contributions to independent \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">pension funds and insurance companies. The Group \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">is under no obligation to pay additional contributions. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Costs for defined contribution plans are recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">the income statement as the Group assumes an obliga- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">tion to make the payment. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0339em;\">In defined benefit plans, the Group is under an obliga- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">tion to pay a defined benefit on retirement. The actuar- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">ially calculated present value less the fair value of any \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">plan assets is recognised in the balance sheet under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2037em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">retirement benefit obligations. The total service costs \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">of the year plus calculated interest based on actuarial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8699em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">estimates and financial assumptions at the beginning \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7031em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">of the year are recognized in the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5362em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">The difference between the forecast development in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3693em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">plan assets and liabilities and the realized values at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2024em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">the end of the year is called actuarial gains or losses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0356em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">and is recognized in other comprehensive income. In \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8687em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">connection with a change in benefits regarding the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7018em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">employees\u2019 employment with the Group to date, there \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5349em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">will be a change in the actuarial calculation of the net \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3681em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">present value, which is taken directly to the income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2012em;\"><span class=\"stl_532 stl_08 stl_185\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.1956em;\"><span class=\"stl_585 stl_15 stl_142\" style=\"word-spacing:-0.0365em;\">Defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0343em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">The Group offers pension plans to all employees in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8674em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">Denmark and abroad. Most of the pension plans are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7006em;\"><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">defined contribution plans, expect for the pension plan \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5337em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">in Bavarian Nordic Berna GmbH, see below. The Group \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3668em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">funds the plans through regular payments of premiums \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.1999em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">to independent insurance companies responsible for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0331em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">the pension obligations towards the beneficiaries. Once \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8662em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">the pension contributions for defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.6993em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">have been made, the Group has no further obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.5324em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">towards current or former employees. Contributions to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3656em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">defined contribution plans are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1987em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">statement when paid. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8599em;\"><span class=\"stl_585 stl_15 stl_142\" style=\"word-spacing:-0.0364em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.6987em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">With the acquisition of the Swiss subsidiary Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5318em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Nordic Berna GmbH, the Group has recognized a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3649em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0336em;\">defined benefit plan obligation of DKK 81 million. The \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.1981em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">pension plan is part of a collective foundation in which \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.0312em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">other plans of non-related employers also participate, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8643em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">and the different plans all participate in the various \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.6974em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">risks relating to the foundation. The pension scheme in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.5306em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">Bavarian Nordic Switzerland AG is a fully insured plan \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3637em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0287em;\">and therefore not assessed to be a defined benefit \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.1968em;\"><span class=\"stl_532 stl_08 stl_159\">plan. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.8637em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">Defined benefit liabilities are recognized in the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.6968em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">sheet and in the income statement as indicated below. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2202em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9977em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8202em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_127\">66,935 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1889em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2595em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_330\">1,116 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1895em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.002em;\"><span class=\"stl_191 stl_15 stl_213\" style=\"word-spacing:-0.0328em;\">Cost of pension plans recognized in income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6702em;top:14.002em;\"><span class=\"stl_191 stl_15 stl_366\">68,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1827em;top:14.002em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:15.6264em;\"><span class=\"stl_277 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">Current service cost \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8789em;top:15.6264em;\"><span class=\"stl_277 stl_08 stl_629\">11,817 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1902em;top:15.6264em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:16.6483em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">Past service cost \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6595em;top:16.6483em;\"><span class=\"stl_277 stl_08 stl_276\">(12,023) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1908em;top:16.6483em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.742em;top:17.6702em;\"><span class=\"stl_277 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">Administration expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:65.627em;top:17.6702em;\"><span class=\"stl_277 stl_08 stl_419\">298 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1914em;top:17.6702em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:18.692em;\"><span class=\"stl_277 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">Net interest expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1877em;top:18.692em;\"><span class=\"stl_277 stl_08 stl_631\">1,024 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1914em;top:18.692em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:19.7083em;\"><span class=\"stl_191 stl_15 stl_213\" style=\"word-spacing:-0.0326em;\">Cost of defined benefit plans recognized in income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1327em;top:19.7083em;\"><span class=\"stl_191 stl_15 stl_686\">1,116 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1839em;top:19.7083em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:21.3327em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Actuarial gains/losses on pension obligations \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6227em;top:21.3327em;\"><span class=\"stl_277 stl_08 stl_286\">(34,324) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1921em;top:21.3327em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:22.3545em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Actuarial gains/losses on plan assets \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2064em;top:22.3545em;\"><span class=\"stl_277 stl_08 stl_379\">1,769 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1921em;top:22.3545em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:23.3708em;\"><span class=\"stl_191 stl_15 stl_193\" style=\"word-spacing:-0.035em;\">Actuarial gains/losses on defined benefit plans recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:24.2039em;\"><span class=\"stl_191 stl_15 stl_159\" style=\"word-spacing:-0.0345em;\">other comprehensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4595em;top:24.2039em;\"><span class=\"stl_191 stl_15 stl_373\">(32,555) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1846em;top:24.2039em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:25.8283em;\"><span class=\"stl_277 stl_08 stl_344\" style=\"word-spacing:-0.0348em;\">Plan assets as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4127em;top:25.8283em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.1921em;top:25.8283em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:26.8502em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4821em;top:26.8502em;\"><span class=\"stl_277 stl_08 stl_376\">206,938 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1927em;top:26.8502em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7439em;top:27.872em;\"><span class=\"stl_277 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Exchange adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8121em;top:27.872em;\"><span class=\"stl_277 stl_08 stl_342\">10,648 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1927em;top:27.872em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7439em;top:28.8939em;\"><span class=\"stl_277 stl_08 stl_40\" style=\"word-spacing:-0.0249em;\">Actual rate of interest \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1327em;top:28.8939em;\"><span class=\"stl_277 stl_08 stl_333\">4,542 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1927em;top:28.8939em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7439em;top:29.9158em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Actuarial gains/losses on plan assets \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2071em;top:29.9158em;\"><span class=\"stl_277 stl_08 stl_379\">1,769 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1927em;top:29.9158em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7439em;top:30.9377em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">Administration expenses paid \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4296em;top:30.9377em;\"><span class=\"stl_277 stl_08 stl_390\">(298) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1933em;top:30.9377em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7446em;top:31.9595em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">Employer contributions \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8402em;top:31.9595em;\"><span class=\"stl_277 stl_08 stl_137\">11,808 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1939em;top:31.9595em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7452em;top:32.9814em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">Employee contributions \u00a0</span></div><div class=\"stl_01\" style=\"left:65.3008em;top:32.9814em;\"><span class=\"stl_277 stl_08 stl_687\">7,117 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1939em;top:32.9814em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7452em;top:34.0033em;\"><span class=\"stl_277 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">Benefit paid out \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6202em;top:34.0033em;\"><span class=\"stl_277 stl_08 stl_308\">(21,500) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1946em;top:34.0033em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7458em;top:35.0195em;\"><span class=\"stl_191 stl_15 stl_182\" style=\"word-spacing:-0.0293em;\">Plan assets as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3514em;top:35.0195em;\"><span class=\"stl_191 stl_15 stl_100\">221,024 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1871em;top:35.0195em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2044em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9819em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.9583em;\"><span class=\"stl_191 stl_15 stl_280\" style=\"word-spacing:-0.0343em;\">Specification of present value of defined benefit obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">Present value of defined benefit liability as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3938em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1732em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4744em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_127\">262,925 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1732em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">Exchange adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8125em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_156\">13,529 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1732em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Current service costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8619em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_629\">11,817 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1732em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0733em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Past service costs</span><sup style=\"top: -0.2067em;\"><span class=\"stl_367 stl_08 stl_487\" style=\"word-spacing:-0.0529em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:30.6423em;top:17.0747em;\"><span class=\"stl_277 stl_08 stl_276\">(12,023) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1736em;top:17.0747em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7248em;top:18.0966em;\"><span class=\"stl_277 stl_08 stl_63\" style=\"word-spacing:-0.0297em;\">Calculated interest on liability \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1098em;top:18.0966em;\"><span class=\"stl_277 stl_08 stl_259\">5,566 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1742em;top:18.0966em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7254em;top:19.1185em;\"><span class=\"stl_277 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Actuarial gains/losses, financial assumptions \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8467em;top:19.1185em;\"><span class=\"stl_277 stl_08 stl_624\">34,186 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1748em;top:19.1185em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7261em;top:20.1403em;\"><span class=\"stl_277 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">Actuarial gains/losses, demographic assumptions \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4542em;top:20.1403em;\"><span class=\"stl_277 stl_08 stl_570\">(213) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1748em;top:20.1403em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7261em;top:21.1622em;\"><span class=\"stl_277 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">Actuarial gains/losses, experience \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6261em;top:21.1622em;\"><span class=\"stl_277 stl_08 stl_291\">352 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1754em;top:21.1622em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7267em;top:22.1841em;\"><span class=\"stl_277 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">Employee contributions \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2823em;top:22.1841em;\"><span class=\"stl_277 stl_08 stl_687\">7,117 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1754em;top:22.1841em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7267em;top:23.206em;\"><span class=\"stl_277 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">Benefit paid out \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6017em;top:23.206em;\"><span class=\"stl_277 stl_08 stl_308\">(21,500) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1761em;top:23.206em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7273em;top:24.2222em;\"><span class=\"stl_191 stl_15 stl_386\" style=\"word-spacing:-0.0333em;\">Present value of defined benefit liability as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3348em;top:24.2222em;\"><span class=\"stl_191 stl_15 stl_100\">301,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1686em;top:24.2222em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7273em;top:25.2497em;\"><span class=\"stl_277 stl_08 stl_144\" style=\"word-spacing:-0.0261em;\">Fair value of plan assets as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3054em;top:25.2497em;\"><span class=\"stl_277 stl_08 stl_670\">(221,024) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1761em;top:25.2497em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7273em;top:26.266em;\"><span class=\"stl_191 stl_15 stl_280\" style=\"word-spacing:-0.0342em;\">Net liability of defined benefit plans as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6704em;top:26.266em;\"><span class=\"stl_191 stl_15 stl_169\">80,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1686em;top:26.266em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7273em;top:27.8903em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0333em;\">Net liability of defined benefit plans as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3967em;top:27.8903em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1761em;top:27.8903em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7273em;top:28.9122em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8142em;top:28.9122em;\"><span class=\"stl_277 stl_08 stl_65\">55,987 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1767em;top:28.9122em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7279em;top:29.9341em;\"><span class=\"stl_277 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">Expenditure for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2473em;top:29.9341em;\"><span class=\"stl_277 stl_08 stl_330\">1,116 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1773em;top:29.9341em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7286em;top:30.956em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">Actuarial gains/losses on pension obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7923em;top:30.956em;\"><span class=\"stl_277 stl_08 stl_70\">34,325 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1779em;top:30.956em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7292em;top:31.9778em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0341em;\">Exchange adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1129em;top:31.9778em;\"><span class=\"stl_277 stl_08 stl_329\">2,881 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1779em;top:31.9778em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7292em;top:32.9997em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Actuarial gains/losses on plan assets \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0129em;top:32.9997em;\"><span class=\"stl_277 stl_08 stl_654\">(1,769) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1786em;top:32.9997em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7298em;top:34.0216em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">Payments received \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6448em;top:34.0216em;\"><span class=\"stl_277 stl_08 stl_652\">(11,808) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1786em;top:34.0216em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7298em;top:35.0378em;\"><span class=\"stl_191 stl_15 stl_280\" style=\"word-spacing:-0.0342em;\">Net liability of defined benefit plans as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6729em;top:35.0378em;\"><span class=\"stl_191 stl_15 stl_169\">80,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1711em;top:35.0378em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.5293em;\"><sup style=\"top: -0.1665em;\"><span class=\"stl_73 stl_08 stl_24\" style=\"word-spacing:0.1974em;\">1 </span></sup><span class=\"stl_74 stl_08 stl_327\" style=\"word-spacing:-0.0416em;\">A reduction in the conversion factors (rate at which the accumulated account balance is converted to an annual pension at retirement) was \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7242em;top:37.1128em;\"><span class=\"stl_74 stl_08 stl_689\" style=\"word-spacing:-0.0462em;\">announced by the Swiss pension provider Servisa in 2023. The impact of this change was calculated as if the change happened as of December 31, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7242em;top:37.6963em;\"><span class=\"stl_74 stl_08 stl_409\" style=\"word-spacing:-0.0458em;\">2023, and led to a reduction of CHF 1.5 million in the defined benefit liability. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9889em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9583em;\"><span class=\"stl_191 stl_15 stl_61\" style=\"word-spacing:-0.0309em;\">Percentage of plan assets invested in asset category \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_340\">Equity \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7433em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_312\">31.0% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_204\">Bonds \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7183em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_303\">28.4% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_80\">Property \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7314em;top:15.0295em;\"><span class=\"stl_277 stl_08 stl_101\">16.0% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_193\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7377em;top:16.0514em;\"><span class=\"stl_277 stl_08 stl_154\">24.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.6645em;\"><span class=\"stl_191 stl_15 stl_21\" style=\"word-spacing:-0.0322em;\">Actuarial assumptions applied at the balance sheet date (expressed as an average) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.692em;\"><span class=\"stl_277 stl_08 stl_56\" style=\"word-spacing:-0.0262em;\">Discount rate \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7352em;top:18.692em;\"><span class=\"stl_277 stl_08 stl_138\">1.35% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.7139em;\"><span class=\"stl_277 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Future rate of salary increases \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7527em;top:19.7139em;\"><span class=\"stl_277 stl_08 stl_581\">1.75% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.7358em;\"><span class=\"stl_277 stl_08 stl_182\">Inflation \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7227em;top:20.7358em;\"><span class=\"stl_277 stl_08 stl_228\">1.25% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.0539em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">The contributions to the plan for 2024 are expected in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.887em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">the same level as in 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.5539em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">The sensitivity analysis below shows the change in one \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.387em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">of the actuarial assumptions, while other assumptions \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.0539em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0269em;\">are kept constant. In practice, this is unlikely to occur as \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.887em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">changes in some of the assumptions may be correlated. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.5539em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">Percentage increase/decrease in the gross liability \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.387em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">resulting from a change in a single actuarial assumption \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.6582em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3945em;top:28.6526em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.4195em;top:30.3426em;\"><span class=\"stl_277 stl_08 stl_48\" style=\"word-spacing:0.8139em;\">+0.5%-point -0.5%-point \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.3644em;\"><span class=\"stl_277 stl_08 stl_56\" style=\"word-spacing:-0.0262em;\">Discount rate \u00a0</span></div><div class=\"stl_01\" style=\"left:65.0483em;top:31.3644em;\"><span class=\"stl_277 stl_08 stl_333\">-8.2% \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0739em;top:31.3644em;\"><span class=\"stl_277 stl_08 stl_126\">9.2% \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDefinedContributionPlansExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2581": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_388\" style=\"word-spacing:0.0005em;\">Note 30 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_136\" style=\"word-spacing:0.0119em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">Share-based incentive plans in which employees can \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">only opt to buy shares in the Company (warrants) are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">measured at the equity instruments\u2019 fair value at the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">grant date and recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">over the vesting period. The balancing item is recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">nized directly in equity. The fair value on the date of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">grant is determined using the Black-Scholes model. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">Cash-based incentive programs in which employees \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0265em;\">can have the difference between the agreed exer- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">cise price and the actual share price settled in cash \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0247em;\">(phantom shares) are measured at fair value at the date \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2037em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">of grant and recognized in the income statement over \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">the period when the final right of cash-settlement is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8699em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">obtained. Granted rights are subsequently re-measured \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7031em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">on each balance sheet date and upon final settlement, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5362em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">and any changes in the fair value of the programs are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3693em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">recognized in the income statement. The balancing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2024em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">item is recognized under other liabilities. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8693em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">The fair value of the cash-based incentive programs is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7024em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">determined using the Black-Scholes model. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3693em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">Restricted stock units and performance restricted stock \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2024em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">units are measured at fair value at grant date. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.8693em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">For Executive Management cash bonus converted to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.7024em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">restricted stock units, the number of restricted stock \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.5356em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">units are calculated by dividing the allocated cash \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.3687em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">bonus amount by the share price of the Company at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.2018em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">grant date. As the cash bonus has already been accrued \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:37.0349em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">and expensed in the income statement, the grant \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2018em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">of restricted stock units has no additional impact on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0349em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">the income statement. The accrued liability for the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8681em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">converted cash bonus is reclassified to equity. Matching \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7012em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">shares are measured at the same fair value as the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5343em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">initial restricted stock units and expensed over the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3674em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">three year vesting period. The balancing item is recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.2006em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">nized directly in equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8674em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">Performance restricted stock units granted to Execu- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.7006em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">tive Management as part of their long term incentive \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.5337em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">scheme are expensed over the three year vesting \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3668em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">period with the balancing item recognized directly in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1999em;\"><span class=\"stl_532 stl_08 stl_144\">equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8668em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.034em;\">Restricted stock units granted as sign-on bonus for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.6999em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">members of the Executive Management and restricted \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5331em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">stock units granted to the Board of Directors are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3662em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">expensed at grant date with the balancing item recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.1993em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">nized directly in equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8606em;\"><span class=\"stl_585 stl_15 stl_360\" style=\"word-spacing:-0.033em;\">Incentive plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.6993em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0256em;\">In order to motivate and retain key employees and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.5324em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">encourage the achievement of common goals for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3656em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">employees, management and shareholders, the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.1987em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">Company has established incentive plans by way of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.0318em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">warrant programs and restricted stock units programs, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.8649em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">the latter only for members of the Executive Manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.6981em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">ment and Board of Directors. Furthermore, the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.5312em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Company has established three-year phantom share \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:35.3643em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">programs for all employees of the Group except for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.1974em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">Executive Management and other employees receiving \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:37.0306em;\"><span class=\"stl_532 stl_08 stl_440\">warrants. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.1918em;\"><span class=\"stl_585 stl_15 stl_248\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.0306em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">The Board of Directors has been granting warrants to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.8637em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">the Company\u00b4s management and selected employees \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:13.6968em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">of the Company and its subsidiaries. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:15.3637em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">The warrants are granted in accordance with the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:16.1968em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">authorizations given to the Board of Directors by the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.0299em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">shareholders. The Board of Directors has fixed the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.8631em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">terms of and the size of the grants of warrants, taking \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:18.6962em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">into account authorizations from the shareholders, the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:19.5293em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">Group's guidelines for incentive pay, an assessment of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:20.3624em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">expectations of the recipient\u00b4s work efforts and contri- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:21.1956em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0263em;\">bution to the Group\u00b4s growth, as well as the need to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:22.0287em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">motivate and retain the recipient. Grant takes place on \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:22.8618em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">the date of establishment of the program. Exercise of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:23.6949em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">warrants is by default subject to continuing employ- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:24.5281em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">ment with the Group. The warrants granted are subject \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:25.3612em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">to the provisions of the Danish Public Companies Act \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:26.1943em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">regarding termination of employees prior to their \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.0274em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">exercise of warrants in the case of recipients who are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.8606em;\"><span class=\"stl_532 stl_08 stl_176\" style=\"word-spacing:-0.0377em;\">subject to the act. \u00a0</span></div><div class=\"stl_01\" style=\"left:16.2659em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_26\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:40.124em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_26\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7334em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_204\" style=\"word-spacing:-0.038em;\">Can be \u00a0</span></div><div class=\"stl_01\" style=\"left:50.9852em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_35\">Average \u00a0</span></div><div class=\"stl_01\" style=\"left:18.4552em;top:11.0239em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3134em;top:11.0239em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:44.350em;top:11.0239em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0282em;\">exercised as of \u00a0</span></div><div class=\"stl_01\" style=\"left:50.9915em;top:11.0239em;\"><span class=\"stl_191 stl_15 stl_55\">exercise \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_178\" style=\"word-spacing:-0.0243em;\">Warrant overview \u2013 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.0796em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_253\" style=\"word-spacing:-0.049em;\">January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7909em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_278\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:26.584em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_192\">Exercised \u00a0</span></div><div class=\"stl_01\" style=\"left:31.3827em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_263\">Annulled \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4371em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_183\">Terminated \u00a0</span></div><div class=\"stl_01\" style=\"left:39.9202em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.8809em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.1452em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_189\" style=\"word-spacing:-0.0315em;\">price (DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_638\" style=\"word-spacing:-0.0136em;\">November 2018 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.7077em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_286\">240,708 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3415em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:26.9865em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_250\">(209,476) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7902em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.749em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_167\">(31,232) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.4752em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.4359em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.404em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_245\">142 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_572\" style=\"word-spacing:-0.0126em;\">November 2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.7252em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_106\">599,493 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3415em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:27.3702em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_564\">(83,143) \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3077em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_336\">(2,596) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5152em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.5921em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_306\">513,754 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5528em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_306\">513,754 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3928em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_293\">146 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">January 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.0359em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_337\">30,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3421em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:27.2503em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_484\">(23,000) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7909em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.5153em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.2721em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_382\">7,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2328em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_382\">7,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3965em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_292\">156 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_270\" style=\"word-spacing:-0.0176em;\">November 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.324em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_692\">1,112,070 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3415em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:29.0659em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:32.014em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_589\">(13,890) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5146em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.1184em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_652\">1,098,180 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4359em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.3884em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_390\">207 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.5514em;\"><span class=\"stl_277 stl_08 stl_232\" style=\"word-spacing:-0.0154em;\">November 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.7371em;top:17.5514em;\"><span class=\"stl_277 stl_08 stl_539\">655,774 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3415em;top:17.5514em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:29.0659em;top:17.5514em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:32.3521em;top:17.5514em;\"><span class=\"stl_277 stl_08 stl_306\">(4,700) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5153em;top:17.5514em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.6246em;top:17.5514em;\"><span class=\"stl_277 stl_08 stl_595\">651,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4365em;top:17.5514em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.3928em;top:17.5514em;\"><span class=\"stl_277 stl_08 stl_293\">353 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:18.5733em;\"><span class=\"stl_277 stl_08 stl_178\" style=\"word-spacing:-0.0243em;\">April 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.0209em;top:18.5733em;\"><span class=\"stl_277 stl_08 stl_24\">81,872 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3421em;top:18.5733em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:29.0665em;top:18.5733em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.7909em;top:18.5733em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.5153em;top:18.5733em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.879em;top:18.5733em;\"><span class=\"stl_277 stl_08 stl_24\">81,872 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4365em;top:18.5733em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.3928em;top:18.5733em;\"><span class=\"stl_277 stl_08 stl_293\">190 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:19.5952em;\"><span class=\"stl_277 stl_08 stl_36\" style=\"word-spacing:-0.0226em;\">December 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.719em;top:19.5952em;\"><span class=\"stl_277 stl_08 stl_97\">932,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3421em;top:19.5952em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:29.0665em;top:19.5952em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:32.0678em;top:19.5952em;\"><span class=\"stl_277 stl_08 stl_418\">(21,613) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5153em;top:19.5952em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.5646em;top:19.5952em;\"><span class=\"stl_277 stl_08 stl_65\">910,438 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4365em;top:19.5952em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.1084em;top:19.5952em;\"><span class=\"stl_277 stl_08 stl_326\">225/271 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:20.617em;\"><span class=\"stl_277 stl_08 stl_88\" style=\"word-spacing:-0.0218em;\">December 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.6178em;top:20.617em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:21.9109em;top:20.617em;\"><span class=\"stl_277 stl_08 stl_389\">1,258,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.0665em;top:20.617em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:33.7909em;top:20.617em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.5153em;top:20.617em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.0446em;top:20.617em;\"><span class=\"stl_277 stl_08 stl_389\">1,258,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4365em;top:20.617em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.1521em;top:20.617em;\"><span class=\"stl_277 stl_08 stl_151\">172/192 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:21.6333em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:16.9803em;top:21.6333em;\"><span class=\"stl_191 stl_15 stl_562\">3,652,007 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7003em;top:21.6333em;\"><span class=\"stl_191 stl_15 stl_575\">1,258,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8203em;top:21.6333em;\"><span class=\"stl_191 stl_15 stl_245\">(315,619) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8478em;top:21.6333em;\"><span class=\"stl_191 stl_15 stl_136\">(42,799) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.5928em;top:21.6333em;\"><span class=\"stl_191 stl_15 stl_167\">(31,232) \u00a0</span></div><div class=\"stl_01\" style=\"left:40.8753em;top:21.6333em;\"><span class=\"stl_191 stl_15 stl_98\">4,520,915 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3778em;top:21.6333em;\"><span class=\"stl_191 stl_15 stl_116\">520,793 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.2365em;top:23.9717em;\"><span class=\"stl_191 stl_15 stl_26\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:49.8196em;top:23.9717em;\"><span class=\"stl_191 stl_15 stl_26\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:23.4259em;top:24.7217em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of \u00a0</span></div><div class=\"stl_01\" style=\"left:52.009em;top:24.7217em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.4717em;\"><span class=\"stl_191 stl_15 stl_178\" style=\"word-spacing:-0.0243em;\">Warrant overview \u2013 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:22.0503em;top:25.4717em;\"><span class=\"stl_191 stl_15 stl_253\" style=\"word-spacing:-0.049em;\">January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7615em;top:25.4717em;\"><span class=\"stl_191 stl_15 stl_278\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5546em;top:25.4717em;\"><span class=\"stl_191 stl_15 stl_192\">Exercised \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3534em;top:25.4717em;\"><span class=\"stl_191 stl_15 stl_263\">Annulled \u00a0</span></div><div class=\"stl_01\" style=\"left:40.4078em;top:25.4717em;\"><span class=\"stl_191 stl_15 stl_183\">Terminated \u00a0</span></div><div class=\"stl_01\" style=\"left:45.1203em;top:25.4717em;\"><span class=\"stl_191 stl_15 stl_90\">Transferred \u00a0</span></div><div class=\"stl_01\" style=\"left:49.6159em;top:25.4717em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7471em;top:26.0173em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">Recognized costs in 2023 DKK 48.0 million compared to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7471em;top:26.8504em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">DKK 42.9 million in 2022. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.1617em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Corporate Management \u00a0</span></div><div class=\"stl_01\" style=\"left:22.6746em;top:27.1617em;\"><span class=\"stl_277 stl_08 stl_224\">725,932 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.7365em;top:27.1617em;\"><span class=\"stl_277 stl_08 stl_137\">83,921 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9521em;top:27.1617em;\"><span class=\"stl_277 stl_08 stl_149\">(140,789) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7609em;top:27.1617em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:43.4853em;top:27.1617em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.2096em;top:27.1617em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2553em;top:27.1617em;\"><span class=\"stl_277 stl_08 stl_228\">669,064 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:28.1835em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:22.6878em;top:28.1835em;\"><span class=\"stl_277 stl_08 stl_125\">429,550 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.754em;top:28.1835em;z-index:1112;\"><span class=\"stl_277 stl_08 stl_372\">7</span><span class=\"stl_277 stl_08 stl_331\">7</span><span class=\"stl_277 stl_08 stl_399\">,491 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2196em;top:28.1835em;\"><span class=\"stl_277 stl_08 stl_376\">(23,000) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7603em;top:28.1835em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:43.4846em;top:28.1835em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.209em;top:28.1835em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2234em;top:28.1835em;\"><span class=\"stl_277 stl_08 stl_341\">484,041 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:29.2054em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Other employees \u00a0</span></div><div class=\"stl_01\" style=\"left:22.2565em;top:29.2054em;\"><span class=\"stl_277 stl_08 stl_559\">1,982,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0128em;top:29.2054em;\"><span class=\"stl_277 stl_08 stl_693\">1,097,146 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9515em;top:29.2054em;\"><span class=\"stl_277 stl_08 stl_522\">(100,020) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9821em;top:29.2054em;\"><span class=\"stl_277 stl_08 stl_152\">(42,799) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.764em;top:29.2054em;\"><span class=\"stl_277 stl_08 stl_649\">(19,853) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.2096em;top:29.2054em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.7709em;top:29.2054em;\"><span class=\"stl_277 stl_08 stl_608\">2,916,601 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:30.2273em;\"><span class=\"stl_277 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">Resigned employees \u00a0</span></div><div class=\"stl_01\" style=\"left:22.6815em;top:30.2273em;\"><span class=\"stl_277 stl_08 stl_100\">514,398 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3121em;top:30.2273em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:32.294em;top:30.2273em;\"><span class=\"stl_277 stl_08 stl_391\">(51,810) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7609em;top:30.2273em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.7546em;top:30.2273em;\"><span class=\"stl_277 stl_08 stl_548\">(11,379) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.2096em;top:30.2273em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2596em;top:30.2273em;\"><span class=\"stl_277 stl_08 stl_224\">451,209 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:31.2435em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:21.9509em;top:31.2435em;\"><span class=\"stl_191 stl_15 stl_305\">3,652,007 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6709em;top:31.2435em;\"><span class=\"stl_191 stl_15 stl_575\">1,258,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.7909em;top:31.2435em;\"><span class=\"stl_191 stl_15 stl_245\">(315,619) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8184em;top:31.2435em;\"><span class=\"stl_191 stl_15 stl_136\">(42,799) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5634em;top:31.2435em;\"><span class=\"stl_191 stl_15 stl_167\">(31,232) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.2028em;top:31.2435em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.5703em;top:31.2435em;\"><span class=\"stl_191 stl_15 stl_98\">4,520,915 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:32.8692em;\"><span class=\"stl_191 stl_15 stl_201\" style=\"word-spacing:-0.0293em;\">Weighted average exercise price (DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7528em;top:32.8692em;\"><span class=\"stl_191 stl_15 stl_62\">231 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.4778em;top:32.8692em;\"><span class=\"stl_191 stl_15 stl_101\">189 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.2009em;top:32.8692em;\"><span class=\"stl_191 stl_15 stl_293\">144 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.9178em;top:32.8692em;\"><span class=\"stl_191 stl_15 stl_365\">252 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.6603em;top:32.8692em;\"><span class=\"stl_191 stl_15 stl_323\">142 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.2021em;top:32.8692em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.3221em;top:32.8692em;\"><span class=\"stl_191 stl_15 stl_429\">226 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:33.891em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0282em;\">Weighted average share price at exercise (DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.2146em;top:33.891em;\"><span class=\"stl_191 stl_15 stl_631\">179 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:35.5223em;\"><span class=\"stl_277 stl_08 stl_90\" style=\"word-spacing:-0.0259em;\">Number of warrants which can be exercised as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2665em;top:35.5223em;\"><span class=\"stl_277 stl_08 stl_150\">520,793 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:36.5442em;\"><span class=\"stl_277 stl_08 stl_40\" style=\"word-spacing:-0.0249em;\">at a weighted average exercise price of DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:52.414em;top:36.5442em;\"><span class=\"stl_277 stl_08 stl_245\">142 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.2365em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_26\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:49.8196em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_26\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:23.4259em;top:11.0239em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of \u00a0</span></div><div class=\"stl_01\" style=\"left:52.009em;top:11.0239em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_54\" style=\"word-spacing:-0.0246em;\">Warrant overview \u2013 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:22.0502em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_253\" style=\"word-spacing:-0.049em;\">January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7615em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_278\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5546em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_192\">Exercised \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3534em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_263\">Annulled \u00a0</span></div><div class=\"stl_01\" style=\"left:40.4077em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_183\">Terminated \u00a0</span></div><div class=\"stl_01\" style=\"left:45.1202em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_90\">Transferred \u00a0</span></div><div class=\"stl_01\" style=\"left:49.6159em;top:11.7739em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">Corporate Management \u00a0</span></div><div class=\"stl_01\" style=\"left:22.684em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_150\">743,346 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.3896em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_303\">126,487 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0371em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7615em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.4196em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_555\">(143,901) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.2102em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:51.2577em;top:13.4639em;\"><span class=\"stl_277 stl_08 stl_224\">725,932 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:22.7559em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_694\">418,163 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4065em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_100\">185,457 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0365em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7609em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:43.4852em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:46.1771em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_695\">(174,070) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2702em;top:14.4858em;\"><span class=\"stl_277 stl_08 stl_125\">429,550 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Other employees \u00a0</span></div><div class=\"stl_01\" style=\"left:22.1527em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_429\">1,880,363 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4209em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_106\">701,979 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9634em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_276\">(145,833) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.7071em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_356\">(151,659) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7127em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_123\">(65,579) \u00a0</span></div><div class=\"stl_01\" style=\"left:46.1871em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_310\">(237,144) \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8396em;top:15.5077em;\"><span class=\"stl_277 stl_08 stl_559\">1,982,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">Resigned employees \u00a0</span></div><div class=\"stl_01\" style=\"left:22.7284em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_355\">314,612 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3121em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:32.0346em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_230\">(121,150) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7609em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.6977em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_100\">(90,278) \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3621em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_592\">411,214 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.264em;top:16.5295em;\"><span class=\"stl_277 stl_08 stl_100\">514,398 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:17.5458em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:21.924em;top:17.5458em;\"><span class=\"stl_191 stl_15 stl_257\">3,356,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7365em;top:17.5458em;\"><span class=\"stl_191 stl_15 stl_126\">1,013,923 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.7209em;top:17.5458em;\"><span class=\"stl_191 stl_15 stl_225\">(266,983) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.5146em;top:17.5458em;\"><span class=\"stl_191 stl_15 stl_669\">(151,659) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.2002em;top:17.5458em;\"><span class=\"stl_191 stl_15 stl_125\">(299,758) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.2021em;top:17.5458em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:50.5327em;top:17.5458em;\"><span class=\"stl_191 stl_15 stl_562\">3,652,007 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:19.1714em;\"><span class=\"stl_191 stl_15 stl_201\" style=\"word-spacing:-0.0293em;\">Weighted average exercise price (DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7715em;top:19.1714em;\"><span class=\"stl_191 stl_15 stl_322\">219 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.4696em;top:19.1714em;\"><span class=\"stl_191 stl_15 stl_225\">253 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.2115em;top:19.1714em;\"><span class=\"stl_191 stl_15 stl_323\">142 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.9146em;top:19.1714em;\"><span class=\"stl_191 stl_15 stl_420\">242 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.639em;top:19.1714em;\"><span class=\"stl_191 stl_15 stl_420\">242 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.2021em;top:19.1714em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:52.3346em;top:19.1714em;\"><span class=\"stl_191 stl_15 stl_62\">231 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:20.1933em;\"><span class=\"stl_191 stl_15 stl_57\" style=\"word-spacing:-0.0282em;\">Weighted average share price at exercise (DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.1952em;top:20.1933em;\"><span class=\"stl_191 stl_15 stl_303\">247 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:21.8245em;\"><span class=\"stl_277 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">Number of warrants which can be exercised as of December 31, 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2609em;top:21.8245em;\"><span class=\"stl_277 stl_08 stl_286\">240,708 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:22.8464em;\"><span class=\"stl_277 stl_08 stl_40\" style=\"word-spacing:-0.0249em;\">at a weighted average exercise price of DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:52.414em;top:22.8464em;\"><span class=\"stl_277 stl_08 stl_245\">142 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.1786em;\"><span class=\"stl_191 stl_15 stl_386\" style=\"word-spacing:-0.0332em;\">Specification of parameters for Black-Scholes model \u00a0</span></div><div class=\"stl_01\" style=\"left:21.9759em;top:25.1786em;\"><span class=\"stl_191 stl_15 stl_49\" style=\"word-spacing:0.0123em;\">Nov. 2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.859em;top:25.1786em;\"><span class=\"stl_191 stl_15 stl_348\" style=\"word-spacing:-0.0147em;\">Jan. 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4121em;top:25.1786em;\"><span class=\"stl_191 stl_15 stl_452\" style=\"word-spacing:0.0053em;\">Nov. 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1446em;top:25.1786em;\"><span class=\"stl_191 stl_15 stl_346\" style=\"word-spacing:0.0103em;\">Nov. 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:40.9577em;top:25.1786em;\"><span class=\"stl_191 stl_15 stl_414\" style=\"word-spacing:-0.009em;\">Apr. 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.414em;top:25.1786em;\"><span class=\"stl_191 stl_15 stl_405\" style=\"word-spacing:-0.0203em;\">Dec. 2022</span><sup style=\"top: -0.2081em;\"><span class=\"stl_281 stl_15 stl_344\" style=\"word-spacing:-0.0349em;\">3 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:50.3891em;top:25.1786em;\"><span class=\"stl_191 stl_15 stl_403\" style=\"word-spacing:-0.0137em;\">Dec. 2023</span><sup style=\"top: -0.2081em;\"><span class=\"stl_281 stl_15 stl_160\" style=\"word-spacing:-0.0235em;\">3 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:4.714em;top:26.8688em;\"><span class=\"stl_277 stl_08 stl_217\" style=\"word-spacing:-0.0237em;\">Average share price \u00a0</span></div><div class=\"stl_01\" style=\"left:23.0134em;top:26.8688em;\"><span class=\"stl_277 stl_08 stl_150\">154.05 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.7565em;top:26.8688em;\"><span class=\"stl_277 stl_08 stl_312\">171.20 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.4796em;top:26.8688em;\"><span class=\"stl_277 stl_08 stl_339\">179.84 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.2152em;top:26.8688em;\"><span class=\"stl_277 stl_08 stl_31\">307.20 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9359em;top:26.8688em;\"><span class=\"stl_277 stl_08 stl_535\">171.35 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.639em;top:26.8688em;\"><span class=\"stl_277 stl_08 stl_147\">224.70 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5777em;top:26.8688em;\"><span class=\"stl_277 stl_08 stl_444\">172.40 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:27.8907em;\"><span class=\"stl_277 stl_08 stl_54\" style=\"word-spacing:-0.0245em;\">Average exercise price at grant \u00a0</span></div><div class=\"stl_01\" style=\"left:23.0077em;top:27.8907em;\"><span class=\"stl_277 stl_08 stl_553\">185.40 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.7902em;top:27.8907em;\"><span class=\"stl_277 stl_08 stl_696\">197.00 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.4327em;top:27.8907em;\"><span class=\"stl_277 stl_08 stl_318\">206.82 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.1796em;top:27.8907em;\"><span class=\"stl_277 stl_08 stl_228\">353.06 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9927em;top:27.8907em;\"><span class=\"stl_277 stl_08 stl_697\">190.11 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6421em;top:27.8907em;\"><span class=\"stl_277 stl_08 stl_115\">270.91 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6034em;top:27.8907em;\"><span class=\"stl_277 stl_08 stl_138\">191.58 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:29.5094em;\"><span class=\"stl_277 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">Average exercise price at grant \u2013 Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:46.639em;top:29.5094em;\"><span class=\"stl_277 stl_08 stl_147\">224.70 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5777em;top:29.5094em;\"><span class=\"stl_277 stl_08 stl_444\">172.40 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:31.1282em;\"><span class=\"stl_277 stl_08 stl_183\" style=\"word-spacing:-0.0257em;\">Average exercise price determined \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:31.9613em;\"><span class=\"stl_277 stl_08 stl_212\" style=\"word-spacing:-0.0193em;\">at date of rights issue March 30, 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:22.9946em;top:31.9613em;\"><span class=\"stl_277 stl_08 stl_596\">146.60 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.7402em;top:31.9613em;\"><span class=\"stl_277 stl_08 stl_293\">155.80 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:32.9832em;\"><span class=\"stl_277 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">Applied volatility rate</span><sup style=\"top: -0.2069em;\"><span class=\"stl_367 stl_08 stl_466\" style=\"word-spacing:-0.0534em;\">2 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:23.1103em;top:32.9844em;\"><span class=\"stl_277 stl_08 stl_572\">52.2% \u00a0</span></div><div class=\"stl_01\" style=\"left:27.8547em;top:32.9844em;\"><span class=\"stl_277 stl_08 stl_127\">53.0% \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5959em;top:32.9844em;\"><span class=\"stl_277 stl_08 stl_162\">39.8% \u00a0</span></div><div class=\"stl_01\" style=\"left:37.3215em;top:32.9844em;\"><span class=\"stl_277 stl_08 stl_106\">41.8% \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0134em;top:32.9844em;\"><span class=\"stl_277 stl_08 stl_389\">42.3% \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7428em;top:32.9844em;\"><span class=\"stl_277 stl_08 stl_227\">46.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7084em;top:32.9844em;\"><span class=\"stl_277 stl_08 stl_225\">53.3% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:34.0063em;\"><span class=\"stl_277 stl_08 stl_87\" style=\"word-spacing:-0.025em;\">Expected life (years) \u00a0</span></div><div class=\"stl_01\" style=\"left:24.0009em;top:34.0063em;\"><span class=\"stl_277 stl_08 stl_306\">3.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.7253em;top:34.0063em;\"><span class=\"stl_277 stl_08 stl_306\">3.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4497em;top:34.0063em;\"><span class=\"stl_277 stl_08 stl_306\">3.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.174em;top:34.0063em;\"><span class=\"stl_277 stl_08 stl_306\">3.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.8984em;top:34.0063em;\"><span class=\"stl_277 stl_08 stl_306\">3.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6228em;top:34.0063em;\"><span class=\"stl_277 stl_08 stl_306\">3.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.5834em;top:34.0063em;\"><span class=\"stl_277 stl_08 stl_306\">3.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:35.0282em;\"><span class=\"stl_277 stl_08 stl_46\" style=\"word-spacing:-0.0366em;\">Expected dividend per share \u00a0</span></div><div class=\"stl_01\" style=\"left:24.5884em;top:35.0282em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:29.3128em;top:35.0282em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.0372em;top:35.0282em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7615em;top:35.0282em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:43.4859em;top:35.0282em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:48.2103em;top:35.0282em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:53.1709em;top:35.0282em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.714em;top:36.0501em;\"><span class=\"stl_277 stl_08 stl_66\" style=\"word-spacing:-0.0179em;\">Risk-free interest rate p.a. \u00a0</span></div><div class=\"stl_01\" style=\"left:22.9015em;top:36.0501em;\"><span class=\"stl_277 stl_08 stl_506\">-0.69% \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6309em;top:36.0501em;\"><span class=\"stl_277 stl_08 stl_298\">-0.65% \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3447em;top:36.0501em;\"><span class=\"stl_277 stl_08 stl_421\">-0.66% \u00a0</span></div><div class=\"stl_01\" style=\"left:37.069em;top:36.0501em;\"><span class=\"stl_277 stl_08 stl_318\">-0.53% \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0097em;top:36.0501em;\"><span class=\"stl_277 stl_08 stl_575\">0.39% \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7465em;top:36.0501em;\"><span class=\"stl_277 stl_08 stl_24\">2.04% \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7065em;top:36.0501em;\"><span class=\"stl_277 stl_08 stl_596\">2.55% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:37.0719em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">Fair value per share at grant</span><sup style=\"top: -0.2072em;\"><span class=\"stl_367 stl_08 stl_467\" style=\"word-spacing:-0.0466em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:24.1467em;top:37.0729em;\"><span class=\"stl_277 stl_08 stl_293\">45 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8686em;top:37.0729em;\"><span class=\"stl_277 stl_08 stl_303\">53 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.6055em;top:37.0729em;\"><span class=\"stl_277 stl_08 stl_301\">41 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.3405em;top:37.0729em;\"><span class=\"stl_277 stl_08 stl_699\">76 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.0467em;top:37.0729em;\"><span class=\"stl_277 stl_08 stl_162\">47 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.7517em;top:37.0729em;\"><span class=\"stl_277 stl_08 stl_263\">64 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.728em;top:37.0729em;\"><span class=\"stl_277 stl_08 stl_99\">62 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:38.6916em;\"><span class=\"stl_277 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">Fair value per share at grant \u2013 Executive Management</span><sup style=\"top: -0.2079em;\"><span class=\"stl_367 stl_08 stl_205\" style=\"word-spacing:-0.0506em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:47.7673em;top:38.6919em;\"><span class=\"stl_277 stl_08 stl_99\">78 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.7129em;top:38.6919em;\"><span class=\"stl_277 stl_08 stl_196\">68 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7485em;top:13.4519em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">Recognized costs in 2022 DKK 42.9 million compared to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7485em;top:14.285em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">DKK 31.3 million in 2021. Recognized costs in 2022 DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7485em;top:15.1182em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">42.9 million compared to DKK 31.3 million in 2021. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:30.1387em;\"><span class=\"stl_370 stl_08 stl_24\">1</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:30.1011em;\"><span class=\"stl_74 stl_08 stl_470\" style=\"word-spacing:-0.0423em;\">Fair value of each warrant at grant date applying the Black-Scholes \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:30.6846em;\"><span class=\"stl_74 stl_08 stl_698\">model \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:31.4235em;\"><span class=\"stl_370 stl_08 stl_24\">2</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:31.3858em;\"><span class=\"stl_74 stl_08 stl_689\" style=\"word-spacing:-0.0462em;\">The applied volatility is based on the historical volatility of the \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:31.9693em;\"><span class=\"stl_74 stl_08 stl_80\" style=\"word-spacing:-0.0434em;\">Bavarian Nordic share, except for programs issued since November \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:32.5528em;\"><span class=\"stl_74 stl_08 stl_407\" style=\"word-spacing:-0.0438em;\">2020 where the volatility is based on the volatility for a peer \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:33.1363em;\"><span class=\"stl_74 stl_08 stl_327\">group. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:33.8749em;\"><span class=\"stl_370 stl_08 stl_24\">3</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:33.8373em;\"><span class=\"stl_74 stl_08 stl_408\" style=\"word-spacing:-0.0446em;\">The December 2022 and December 2023 program have two set of \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:34.4208em;\"><span class=\"stl_74 stl_08 stl_682\" style=\"word-spacing:-0.0463em;\">exercise conditions. Executive Management can subscribe future \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:35.0043em;\"><span class=\"stl_74 stl_08 stl_19\" style=\"word-spacing:-0.043em;\">shares at a exercise price of DKK 224.70/172.40 per share equiva- \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:35.5878em;\"><span class=\"stl_74 stl_08 stl_196\" style=\"word-spacing:-0.042em;\">lent to the market price of Bavarian Nordic's shares at the time of \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:36.1713em;\"><span class=\"stl_74 stl_08 stl_471\" style=\"word-spacing:-0.0472em;\">grant. Vesting of the warrants is subject to prior fulfilment of KPI's \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:36.7548em;\"><span class=\"stl_74 stl_08 stl_469\" style=\"word-spacing:-0.0451em;\">as determined by the Board of Directors. Other employees can \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:37.3383em;\"><span class=\"stl_74 stl_08 stl_470\" style=\"word-spacing:-0.0422em;\">subscribe future shares at a exercise price of DKK 270.91/191.58 per \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:37.9218em;\"><span class=\"stl_74 stl_08 stl_204\" style=\"word-spacing:-0.038em;\">share, determined as the average market price (closing price) of \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:38.5053em;\"><span class=\"stl_74 stl_08 stl_77\" style=\"word-spacing:-0.0452em;\">the Company's shares on Nasdaq Copenhagen over a period of 15 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2205em;top:39.0888em;\"><span class=\"stl_74 stl_08 stl_410\" style=\"word-spacing:-0.0445em;\">business days prior to grant plus 15%. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_193\" style=\"word-spacing:-0.0351em;\">Exercise periods \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0627em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_360\" style=\"word-spacing:-0.0331em;\">Can be exercised wholly or partly in a period of 14 days commencing from the day of publication of: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_88\" style=\"word-spacing:-0.0218em;\">December 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0627em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">Annual Report 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5115em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_72\" style=\"word-spacing:-0.0205em;\">Interim Report Q1 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9602em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_214\" style=\"word-spacing:-0.0196em;\">Interim Report Q2 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.409em;top:11.9639em;\"><span class=\"stl_277 stl_08 stl_377\" style=\"word-spacing:-0.0203em;\">Interim Report Q3 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0627em;top:12.797em;\"><span class=\"stl_277 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Annual Report 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5115em;top:12.797em;\"><span class=\"stl_277 stl_08 stl_47\" style=\"word-spacing:-0.0213em;\">Interim Report Q1 2028 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9602em;top:12.797em;\"><span class=\"stl_277 stl_08 stl_405\" style=\"word-spacing:-0.0204em;\">Interim Report Q2 2028 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.409em;top:12.797em;\"><span class=\"stl_277 stl_08 stl_60\" style=\"word-spacing:-0.0211em;\">Interim Report Q3 2028 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:13.8189em;\"><span class=\"stl_277 stl_08 stl_36\" style=\"word-spacing:-0.0226em;\">December 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0621em;top:13.8189em;\"><span class=\"stl_277 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Annual Report 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5109em;top:13.8189em;\"><span class=\"stl_277 stl_08 stl_377\" style=\"word-spacing:-0.0203em;\">Interim Report Q1 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9596em;top:13.8189em;\"><span class=\"stl_277 stl_08 stl_212\" style=\"word-spacing:-0.0193em;\">Interim Report Q2 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4084em;top:13.8189em;\"><span class=\"stl_277 stl_08 stl_64\" style=\"word-spacing:-0.02em;\">Interim Report Q3 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0621em;top:14.652em;\"><span class=\"stl_277 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">Annual Report 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5109em;top:14.652em;\"><span class=\"stl_277 stl_08 stl_72\" style=\"word-spacing:-0.0205em;\">Interim Report Q1 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9596em;top:14.652em;\"><span class=\"stl_277 stl_08 stl_214\" style=\"word-spacing:-0.0196em;\">Interim Report Q2 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4084em;top:14.652em;\"><span class=\"stl_277 stl_08 stl_377\" style=\"word-spacing:-0.0203em;\">Interim Report Q3 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:15.6739em;\"><span class=\"stl_277 stl_08 stl_178\" style=\"word-spacing:-0.0243em;\">April 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0615em;top:15.6739em;\"><span class=\"stl_277 stl_08 stl_47\" style=\"word-spacing:-0.0215em;\">Interim Report Q2 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5102em;top:15.6739em;\"><span class=\"stl_277 stl_08 stl_84\" style=\"word-spacing:-0.0221em;\">Interim Report Q3 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.959em;top:15.6739em;\"><span class=\"stl_277 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Annual Report 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4077em;top:15.6739em;\"><span class=\"stl_277 stl_08 stl_405\" style=\"word-spacing:-0.0204em;\">Interim Report Q1 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0615em;top:16.507em;\"><span class=\"stl_277 stl_08 stl_212\" style=\"word-spacing:-0.0193em;\">Interim Report Q2 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5102em;top:16.507em;\"><span class=\"stl_277 stl_08 stl_64\" style=\"word-spacing:-0.02em;\">Interim Report Q3 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.959em;top:16.507em;\"><span class=\"stl_277 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">Annual Report 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4077em;top:16.507em;\"><span class=\"stl_277 stl_08 stl_72\" style=\"word-spacing:-0.0207em;\">Interim Report Q1 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7121em;top:17.5289em;\"><span class=\"stl_277 stl_08 stl_232\" style=\"word-spacing:-0.0154em;\">November 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0609em;top:17.5289em;\"><span class=\"stl_277 stl_08 stl_183\" style=\"word-spacing:-0.0257em;\">Annual Report 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5096em;top:17.5289em;\"><span class=\"stl_277 stl_08 stl_261\" style=\"word-spacing:-0.0224em;\">Interim Report Q1 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9584em;top:17.5289em;\"><span class=\"stl_277 stl_08 stl_47\" style=\"word-spacing:-0.0215em;\">Interim Report Q2 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4071em;top:17.5289em;\"><span class=\"stl_277 stl_08 stl_84\" style=\"word-spacing:-0.0221em;\">Interim Report Q3 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0609em;top:18.362em;\"><span class=\"stl_277 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Annual Report 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5096em;top:18.362em;\"><span class=\"stl_277 stl_08 stl_377\" style=\"word-spacing:-0.0203em;\">Interim Report Q1 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9584em;top:18.362em;\"><span class=\"stl_277 stl_08 stl_212\" style=\"word-spacing:-0.0193em;\">Interim Report Q2 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4071em;top:18.362em;\"><span class=\"stl_277 stl_08 stl_64\" style=\"word-spacing:-0.02em;\">Interim Report Q3 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7115em;top:19.3839em;\"><span class=\"stl_277 stl_08 stl_270\" style=\"word-spacing:-0.0176em;\">November 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0602em;top:19.3839em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Annual Report 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.509em;top:19.3839em;\"><span class=\"stl_277 stl_08 stl_216\" style=\"word-spacing:-0.0187em;\">Interim Report Q1 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9577em;top:19.3839em;\"><span class=\"stl_277 stl_08 stl_257\" style=\"word-spacing:-0.0177em;\">Interim Report Q2 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4065em;top:19.3839em;\"><span class=\"stl_277 stl_08 stl_523\" style=\"word-spacing:-0.0184em;\">Interim Report Q3 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0602em;top:20.217em;\"><span class=\"stl_277 stl_08 stl_183\" style=\"word-spacing:-0.0257em;\">Annual Report 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.509em;top:20.217em;\"><span class=\"stl_277 stl_08 stl_261\" style=\"word-spacing:-0.0224em;\">Interim Report Q1 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9577em;top:20.217em;\"><span class=\"stl_277 stl_08 stl_47\" style=\"word-spacing:-0.0215em;\">Interim Report Q2 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4065em;top:20.217em;\"><span class=\"stl_277 stl_08 stl_84\" style=\"word-spacing:-0.0221em;\">Interim Report Q3 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7109em;top:21.2389em;\"><span class=\"stl_277 stl_08 stl_144\" style=\"word-spacing:-0.026em;\">January 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0596em;top:21.2389em;\"><span class=\"stl_277 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">Annual Report 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5084em;top:21.2389em;\"><span class=\"stl_277 stl_08 stl_36\" style=\"word-spacing:-0.0227em;\">Interim Report Q1 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9571em;top:21.2389em;\"><span class=\"stl_277 stl_08 stl_88\" style=\"word-spacing:-0.0217em;\">Interim Report Q2 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4059em;top:21.2389em;\"><span class=\"stl_277 stl_08 stl_261\" style=\"word-spacing:-0.0224em;\">Interim Report Q3 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0596em;top:22.072em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Annual Report 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5084em;top:22.072em;\"><span class=\"stl_277 stl_08 stl_216\" style=\"word-spacing:-0.0187em;\">Interim Report Q1 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9571em;top:22.072em;\"><span class=\"stl_277 stl_08 stl_257\" style=\"word-spacing:-0.0177em;\">Interim Report Q2 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4059em;top:22.072em;\"><span class=\"stl_277 stl_08 stl_523\" style=\"word-spacing:-0.0184em;\">Interim Report Q3 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7102em;top:23.0939em;\"><span class=\"stl_277 stl_08 stl_572\" style=\"word-spacing:-0.0126em;\">November 2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.059em;top:23.0939em;\"><span class=\"stl_277 stl_08 stl_177\" style=\"word-spacing:-0.0309em;\">Annual Report 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5077em;top:23.0939em;\"><span class=\"stl_277 stl_08 stl_36\" style=\"word-spacing:-0.0227em;\">Interim Report Q1 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9565em;top:23.0939em;\"><span class=\"stl_277 stl_08 stl_88\" style=\"word-spacing:-0.0217em;\">Interim Report Q2 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4052em;top:23.0939em;\"><span class=\"stl_277 stl_08 stl_261\" style=\"word-spacing:-0.0224em;\">Interim Report Q3 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.059em;top:23.927em;\"><span class=\"stl_277 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">Annual Report 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5077em;top:23.927em;\"><span class=\"stl_277 stl_08 stl_216\" style=\"word-spacing:-0.0187em;\">Interim Report Q1 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9565em;top:23.927em;\"><span class=\"stl_277 stl_08 stl_257\" style=\"word-spacing:-0.0177em;\">Interim Report Q2 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4052em;top:23.927em;\"><span class=\"stl_277 stl_08 stl_523\" style=\"word-spacing:-0.0184em;\">Interim Report Q3 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.2133em;\"><span class=\"stl_585 stl_15 stl_177\" style=\"word-spacing:-0.0309em;\">Phantom shares \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">In 2019, the Company established a three-year phantom \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0335em;\">share program for all employees of the Group except for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.032em;\">management and other employees receiving warrants. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.5514em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.0271em;\">The employees receive up to four phantom shares per \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.3845em;\"><span class=\"stl_532 stl_08 stl_248\" style=\"word-spacing:-0.0353em;\">month free of charge during the period from January \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.2177em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">1, 2020 to December 31, 2022. Each employee who is a \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.0508em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">full-time employee during the entire term of the plan \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.8839em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">will be eligible to receive a maximum of 144 phantom \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.717em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">shares. Following the rights issues in March 2020 the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.5502em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">monthly grant increased to five phantom shares for the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:19.3833em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">remaining grant period and the maximum increased to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.2164em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">183 phantom shares. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.8833em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0341em;\">The program exercised in January 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.5502em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">In 2020, the Company established a three-year \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:24.3833em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">phantom share program for all employees of the Group \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.2164em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">except for management and other employees receiving \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.0495em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">warrants. The employees receive up to five phantom \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.8827em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">shares per month free of charge during the period from \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.7158em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">January 1, 2021 to December 31, 2023. Each employee \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.5489em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">who is a full-time employee during the entire term of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:29.382em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">the plan will be eligible to receive a maximum of 180 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:30.2152em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">phantom shares. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7252em;top:10.2152em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0324em;\">Grants are made on a monthly basis during the life of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7252em;top:11.0483em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.0311em;\">the programs as long as the employee is employed \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7252em;top:11.8814em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">with the Group. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7252em;top:13.5483em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">On expiry of the programs, the employees may exer- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7252em;top:14.3814em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">cise the phantom shares granted to them and thus be \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7252em;top:15.2145em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">entitled to a cash bonus calculated on the basis of the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7252em;top:16.0477em;\"><span class=\"stl_532 stl_08 stl_38\" style=\"word-spacing:-0.0244em;\">increase in the price of the Company\u00b4s shares. The exer- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7252em;top:16.8808em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">cise is conditional on the price of the Company\u00b4s shares \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7252em;top:17.7139em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">being at least DKK 5 higher than the exercise price at \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7252em;top:18.547em;\"><span class=\"stl_532 stl_08 stl_40\" style=\"word-spacing:-0.0249em;\">the time of exercise. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7252em;top:20.2139em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">On expiry of the programs, former employees are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7252em;top:21.047em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0281em;\">entitled to settlement of the phantom shares granted \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7252em;top:21.8802em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0315em;\">during their term of employment. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.5101em;\"><span class=\"stl_191 stl_15 stl_368\" style=\"word-spacing:-0.0135em;\">2021-2023 phantom share program \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.9051em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4115em;top:11.8995em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.189em;top:11.8995em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9859em;top:11.8995em;\"><span class=\"stl_191 stl_15 stl_170\">2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.5895em;\"><span class=\"stl_277 stl_08 stl_16\" style=\"word-spacing:-0.0393em;\">Outstanding as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1215em;top:13.5895em;\"><span class=\"stl_277 stl_08 stl_701\">79,132 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8265em;top:13.5895em;\"><span class=\"stl_277 stl_08 stl_276\">37,996 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1602em;top:13.5895em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.6114em;\"><span class=\"stl_277 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">Granted during the year \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0171em;top:14.6114em;\"><span class=\"stl_277 stl_08 stl_224\">33,993 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8778em;top:14.6114em;\"><span class=\"stl_277 stl_08 stl_338\">41,136 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6059em;top:14.6114em;\"><span class=\"stl_277 stl_08 stl_276\">37,996 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.6276em;\"><span class=\"stl_191 stl_15 stl_360\" style=\"word-spacing:-0.0331em;\">Outstanding phantom shares as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6178em;top:15.6276em;\"><span class=\"stl_191 stl_15 stl_703\">113,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7528em;top:15.6276em;\"><span class=\"stl_191 stl_15 stl_702\">79,132 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4634em;top:15.6276em;\"><span class=\"stl_191 stl_15 stl_149\">37,996 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.2533em;\"><span class=\"stl_191 stl_15 stl_93\" style=\"word-spacing:-0.0356em;\">Liability in DKK thousand as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.594em;top:17.2533em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.0146em;top:17.2533em;\"><span class=\"stl_191 stl_15 stl_161\">3,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7634em;top:17.2533em;\"><span class=\"stl_191 stl_15 stl_384\">3,589 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.8789em;\"><span class=\"stl_191 stl_15 stl_386\" style=\"word-spacing:-0.0332em;\">Specification of parameters for Black-Scholes model \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:19.9064em;\"><span class=\"stl_277 stl_08 stl_59\" style=\"word-spacing:-0.024em;\">Share price December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.8327em;top:19.9064em;\"><span class=\"stl_277 stl_08 stl_62\">177 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6309em;top:19.9064em;\"><span class=\"stl_277 stl_08 stl_287\">213 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.399em;top:19.9064em;\"><span class=\"stl_277 stl_08 stl_312\">269 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.9283em;\"><span class=\"stl_277 stl_08 stl_251\" style=\"word-spacing:-0.023em;\">Average share exercise price \u00a0</span></div><div class=\"stl_01\" style=\"left:27.8321em;top:20.9283em;\"><span class=\"stl_277 stl_08 stl_308\">203 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6115em;top:20.9283em;\"><span class=\"stl_277 stl_08 stl_308\">203 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3909em;top:20.9283em;\"><span class=\"stl_277 stl_08 stl_308\">203 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.9501em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">Expected volatility rate \u00a0</span></div><div class=\"stl_01\" style=\"left:28.6015em;top:21.9501em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.409em;top:21.9501em;\"><span class=\"stl_277 stl_08 stl_48\">47% \u00a0</span></div><div class=\"stl_01\" style=\"left:35.1815em;top:21.9501em;\"><span class=\"stl_277 stl_08 stl_326\">42% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:22.972em;\"><span class=\"stl_277 stl_08 stl_87\" style=\"word-spacing:-0.025em;\">Expected life (years) \u00a0</span></div><div class=\"stl_01\" style=\"left:28.6015em;top:22.972em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.8059em;top:22.972em;\"><span class=\"stl_277 stl_08 stl_301\">1.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.564em;top:22.972em;\"><span class=\"stl_277 stl_08 stl_291\">2.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.9939em;\"><span class=\"stl_277 stl_08 stl_46\" style=\"word-spacing:-0.0366em;\">Expected dividend per share \u00a0</span></div><div class=\"stl_01\" style=\"left:28.6015em;top:23.9939em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:32.3809em;top:23.9939em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1602em;top:23.9939em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.0158em;\"><span class=\"stl_277 stl_08 stl_66\" style=\"word-spacing:-0.0179em;\">Risk-free interest rate p.a. \u00a0</span></div><div class=\"stl_01\" style=\"left:28.6015em;top:25.0158em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:30.9203em;top:25.0158em;\"><span class=\"stl_277 stl_08 stl_117\">3.46% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.809em;top:25.0158em;\"><span class=\"stl_277 stl_08 stl_704\">0.11% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:27.3339em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">The program will exercise mid-January 2024 conditional \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:28.167em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">upon the Company's share price being above 203 DKK, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:29.0001em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0292em;\">which is deemed unlikely. As of December 31, 2023 the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:29.8333em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">program is out-of-money and have no value. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:31.5001em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">The expected volatility is based on the volatility for a \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:32.3333em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">peer group. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7278em;top:27.3333em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">Phantom shares granted in 2023 provided an expense \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7278em;top:28.1664em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">of DKK 0 million, whereas the revaluation of previously \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7278em;top:28.9995em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">granted phantom shares provided an income of DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7278em;top:29.8326em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0275em;\">3.7 million, total net income of DKK 3.7 million (net \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7278em;top:30.6658em;\"><span class=\"stl_532 stl_08 stl_88\" style=\"word-spacing:-0.0217em;\">expense 2022: DKK 0.1 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7278em;top:32.3326em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">The liability is included in other liabilities, cf. note 22. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.5101em;\"><span class=\"stl_191 stl_15 stl_216\" style=\"word-spacing:-0.0187em;\">2020-2022 phantom share program \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9051em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6558em;top:11.8995em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.4333em;top:11.8995em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2302em;top:11.8995em;\"><span class=\"stl_191 stl_15 stl_170\">2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0014em;top:11.8995em;\"><span class=\"stl_191 stl_15 stl_148\">2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5895em;\"><span class=\"stl_277 stl_08 stl_16\" style=\"word-spacing:-0.0393em;\">Outstanding as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.9452em;top:13.5895em;\"><span class=\"stl_277 stl_08 stl_152\">110,500 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.9939em;top:13.5895em;\"><span class=\"stl_277 stl_08 stl_261\">68,873 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8289em;top:13.5895em;\"><span class=\"stl_277 stl_08 stl_147\">30,921 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1839em;top:13.5895em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.6114em;\"><span class=\"stl_277 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">Granted during the year \u00a0</span></div><div class=\"stl_01\" style=\"left:58.8452em;top:14.6114em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:61.0639em;top:14.6114em;\"><span class=\"stl_277 stl_08 stl_339\">41,627 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8702em;top:14.6114em;\"><span class=\"stl_277 stl_08 stl_264\">37,952 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6114em;top:14.6114em;\"><span class=\"stl_277 stl_08 stl_138\">29,554 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.6333em;\"><span class=\"stl_277 stl_08 stl_51\" style=\"word-spacing:-0.0267em;\">Adjustment following rights issue March 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.8452em;top:15.6333em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:62.6245em;top:15.6333em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:66.4039em;top:15.6333em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:68.9233em;top:15.6333em;\"><span class=\"stl_277 stl_08 stl_187\">1,367 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:16.6551em;\"><span class=\"stl_277 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">Exercised during the year \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0227em;top:16.6551em;\"><span class=\"stl_277 stl_08 stl_447\">(98,486) \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6245em;top:16.6551em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:66.4039em;top:16.6551em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.1833em;top:16.6551em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:17.677em;\"><span class=\"stl_277 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">Expired during the year \u00a0</span></div><div class=\"stl_01\" style=\"left:57.1045em;top:17.677em;\"><span class=\"stl_277 stl_08 stl_561\">(12,014) \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6239em;top:17.677em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:66.4033em;top:17.677em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.1827em;top:17.677em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:18.6933em;\"><span class=\"stl_191 stl_15 stl_360\" style=\"word-spacing:-0.0331em;\">Outstanding phantom shares as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.8364em;top:18.6933em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:60.557em;top:18.6933em;\"><span class=\"stl_191 stl_15 stl_156\">110,500 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6295em;top:18.6933em;\"><span class=\"stl_191 stl_15 stl_183\">68,873 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4733em;top:18.6933em;\"><span class=\"stl_191 stl_15 stl_124\">30,921 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:20.4033em;\"><span class=\"stl_191 stl_15 stl_93\" style=\"word-spacing:-0.0356em;\">Liability in DKK thousand as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.8358em;top:20.4033em;\"><span class=\"stl_191 stl_15 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:61.2895em;top:20.4033em;\"><span class=\"stl_191 stl_15 stl_289\">7,370 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.9933em;top:20.4033em;\"><span class=\"stl_191 stl_15 stl_87\">8,604 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7839em;top:20.4033em;\"><span class=\"stl_191 stl_15 stl_419\">1,864 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:22.0289em;\"><span class=\"stl_191 stl_15 stl_386\" style=\"word-spacing:-0.0332em;\">Specification of parameters for Black-Scholes model \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:23.0564em;\"><span class=\"stl_277 stl_08 stl_59\" style=\"word-spacing:-0.024em;\">Share price December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.8727em;top:23.0564em;\"><span class=\"stl_277 stl_08 stl_287\">213 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6408em;top:23.0564em;\"><span class=\"stl_277 stl_08 stl_312\">269 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.4208em;top:23.0564em;\"><span class=\"stl_277 stl_08 stl_306\">187 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7376em;top:24.0783em;\"><span class=\"stl_277 stl_08 stl_251\" style=\"word-spacing:-0.023em;\">Average share exercise price \u00a0</span></div><div class=\"stl_01\" style=\"left:61.872em;top:24.0783em;\"><span class=\"stl_277 stl_08 stl_264\">147 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6514em;top:24.0783em;\"><span class=\"stl_277 stl_08 stl_264\">147 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.4308em;top:24.0783em;\"><span class=\"stl_277 stl_08 stl_264\">147 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:25.1001em;\"><span class=\"stl_277 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">Expected volatility rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.6495em;top:25.1001em;\"><span class=\"stl_277 stl_08 stl_48\">47% \u00a0</span></div><div class=\"stl_01\" style=\"left:65.422em;top:25.1001em;\"><span class=\"stl_277 stl_08 stl_326\">42% \u00a0</span></div><div class=\"stl_01\" style=\"left:69.1845em;top:25.1001em;\"><span class=\"stl_277 stl_08 stl_249\">40% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:26.122em;\"><span class=\"stl_277 stl_08 stl_87\" style=\"word-spacing:-0.025em;\">Expected life (years) \u00a0</span></div><div class=\"stl_01\" style=\"left:62.622em;top:26.122em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:65.8264em;top:26.122em;\"><span class=\"stl_277 stl_08 stl_301\">1.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.5845em;top:26.122em;\"><span class=\"stl_277 stl_08 stl_291\">2.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:27.1439em;\"><span class=\"stl_277 stl_08 stl_46\" style=\"word-spacing:-0.0366em;\">Expected dividend per share \u00a0</span></div><div class=\"stl_01\" style=\"left:62.622em;top:27.1439em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:66.4014em;top:27.1439em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:70.1808em;top:27.1439em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.737em;top:28.1658em;\"><span class=\"stl_277 stl_08 stl_66\" style=\"word-spacing:-0.0179em;\">Risk-free interest rate p.a. \u00a0</span></div><div class=\"stl_01\" style=\"left:62.622em;top:28.1658em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:64.7276em;top:28.1658em;\"><span class=\"stl_277 stl_08 stl_171\">-0.02% \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5683em;top:28.1658em;z-index:1916;\"><span class=\"stl_277 stl_08 stl_384\">-0</span><span class=\"stl_277 stl_08 stl_609\">.</span><span class=\"stl_277 stl_08 stl_391\">17% \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:30.4839em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">The expected volatility is based on the volatility for a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:31.317em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">peer group. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:32.9839em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">The 2020-2022 program exercised in January 2023 at a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:33.817em;\"><span class=\"stl_532 stl_08 stl_160\" style=\"word-spacing:-0.0236em;\">share price of DKK 227.30. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7451em;top:30.4839em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0265em;\">Revaluation of granted phantom shares and reversal of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7451em;top:31.317em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">not exercised phantom shares provided a net expense \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7451em;top:32.1501em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0253em;\">of DKK 0.6 million (net income 2022: DKK 1.2 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7451em;top:33.817em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">The liability is included in other liabilities, cf. note 22. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.2133em;\"><span class=\"stl_585 stl_15 stl_89\" style=\"word-spacing:-0.0359em;\">Restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">In March 2023, the Board of Directors decided to post- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">pone the payment of half of the achieved cash bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0298em;\">for members of the Executive Management for 3 years, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.5514em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">converting the postponed bonus of DKK 5.1 million into \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.3845em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0328em;\">22,429 unconditional restricted stock units using the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.2177em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">share price of the Company at grant date (DKK 227). The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.0508em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">Board of Directors decided to grant additional restricted \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.8839em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">stock units free of charge on expiry of a 3 years period \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.717em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">(so-called \"\"matching shares\"\") upon the recipient still \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.5502em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0269em;\">being employed in March 2026. One matching share is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:19.3833em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">granted for each two acquired restricted stock units. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.2164em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">The maximum number of matching shares is 11,213. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.0495em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">initial granted restricted stock units and the potential \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.8827em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0269em;\">matching shares total 33,642 shares. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:10.2158em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.033em;\">At the annual general meeting in March 2023, the Board \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:11.0489em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">of Directors were granted a total of 10,640 uncondi- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:11.882em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">tional restricted stock units corresponding to 50% of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:12.7152em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0262em;\">the annual fixed fee of DKK 2.1 million (excl. committee \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:13.5483em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">fee). The restricted stock units will be delivered after 3 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:14.3814em;\"><span class=\"stl_532 stl_08 stl_190\" style=\"word-spacing:-0.0215em;\">years in March 2026. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:16.0483em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">In May 2023, the Company bought back 43,954 of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:16.8814em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">its own shares to meet the obligation to deliver up \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:17.7145em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">to 44,282 shares to the members of the Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:18.5477em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">Management and the Board of Directors in March 2026. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_204\" style=\"word-spacing:-0.0379em;\">Outstanding restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:38.264em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:39.8877em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_26\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:25.0059em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_26\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2259em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_360\">Granted \u00a0</span></div><div class=\"stl_01\" style=\"left:35.8565em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_21\">Released \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0771em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:44.332em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Value at grant \u00a0</span></div><div class=\"stl_01\" style=\"left:24.2752em;top:12.9733em;\"><span class=\"stl_191 stl_15 stl_462\" style=\"word-spacing:-0.0432em;\">as of January 1</span></div><div class=\"stl_01\" style=\"left:29.062em;top:12.9733em;\"><span class=\"stl_191 stl_15 stl_199\" style=\"word-spacing:-0.037em;\">during the year</span></div><div class=\"stl_01\" style=\"left:29.062em;top:12.9733em;\"><span class=\"stl_191 stl_15 stl_199\" style=\"word-spacing:-0.037em;\">during the year \u00a0</span></div><div class=\"stl_01\" style=\"left:39.684em;top:12.9733em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.3034em;top:12.9733em;\"><span class=\"stl_191 stl_15 stl_83\" style=\"word-spacing:-0.0291em;\">date (DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:49.7571em;top:12.9733em;\"><span class=\"stl_191 stl_15 stl_55\" style=\"word-spacing:-0.0271em;\">Vesting date \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.6577em;\"><span class=\"stl_191 stl_15 stl_179\" style=\"word-spacing:-0.0347em;\">Executive Management: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">Performance restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3571em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.7578em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_149\">61,602 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2784em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.679em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_149\">61,602 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4446em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_631\">167 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7409em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_384\" style=\"word-spacing:-0.014em;\">Dec. 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_178\" style=\"word-spacing:-0.0242em;\">Conversion of cash bonus for 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3571em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.7009em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_412\">22,429 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2784em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.6221em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_412\">22,429 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4171em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_272\">227 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.729em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_303\" style=\"word-spacing:0.002em;\">Mar. 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_87\" style=\"word-spacing:-0.0249em;\">Matching shares \u2013 bonus 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3571em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.7865em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_301\">11,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2784em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.7077em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_301\">11,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4171em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_272\">227 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.729em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_303\" style=\"word-spacing:0.002em;\">Mar. 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_88\" style=\"word-spacing:-0.0217em;\">Conversion of cash bonus for 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7434em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_505\">22,578 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3178em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2784em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.6252em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_505\">22,578 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4415em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_628\">163 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7184em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_376\" style=\"word-spacing:-0.0033em;\">Mar. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_84\" style=\"word-spacing:-0.0221em;\">Matching shares \u2013 bonus 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7871em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_121\">11,288 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.319em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2796em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.6696em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_121\">11,288 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4428em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_628\">163 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7196em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_376\" style=\"word-spacing:-0.0033em;\">Mar. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">CEO retention plan \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8884em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_705\">17,109 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3196em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2802em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.7702em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_705\">17,109 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4377em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_292\">156 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8171em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_378\" style=\"word-spacing:-0.006em;\">Apr. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">Matching shares \u2013 CEO retention plan \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0815em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_706\">8,554 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3196em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2802em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.9634em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_318\">8,554 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4371em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_292\">156 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8165em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_378\" style=\"word-spacing:-0.006em;\">Apr. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Sign-on bonus COO \u00a0</span></div><div class=\"stl_01\" style=\"left:27.064em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_36\">4,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3196em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2802em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.9459em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_261\">4,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.444em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_323\">165 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8165em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_378\" style=\"word-spacing:-0.006em;\">Apr. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Matching shares \u2013 sign-on COO \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0646em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_190\">2,223 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.319em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2796em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.9465em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_47\">2,223 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.444em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_323\">165 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8165em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_378\" style=\"word-spacing:-0.006em;\">Apr. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_252\" style=\"word-spacing:-0.0227em;\">Conversion of cash bonus for 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8096em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_590\">16,413 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.319em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2796em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.6915em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_590\">16,413 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4052em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_200\">222 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7371em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_99\" style=\"word-spacing:0.006em;\">Mar. 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_39\" style=\"word-spacing:-0.0233em;\">Matching shares \u2013 bonus 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0859em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_420\">8,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3184em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.279em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.9677em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_420\">8,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4046em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_200\">222 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7365em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_99\" style=\"word-spacing:0.006em;\">Mar. 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_405\" style=\"word-spacing:-0.0205em;\">Conversion of cash bonus for 2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8046em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_593\">11,003 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3177em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.5534em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_418\">(11,003) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.239em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.4259em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_303\">240 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7165em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_326\" style=\"word-spacing:-0.004em;\">Mar. 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7133em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_72\" style=\"word-spacing:-0.0206em;\">Matching shares \u2013 bonus 2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0746em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_572\">5,500 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3171em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.8096em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_358\">(5,500) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2383em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.4252em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_303\">240 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7158em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_326\" style=\"word-spacing:-0.004em;\">Mar. 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_485\" style=\"word-spacing:-0.0382em;\">Sign-on bonus CMO \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0977em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_387\">8,651 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3165em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.8471em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_296\">(8,651) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2377em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.4458em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_289\">149 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7596em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_318\" style=\"word-spacing:-0.0084em;\">May 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:29.9914em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Matching shares \u2013 sign-on CMO \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0877em;top:29.9914em;\"><span class=\"stl_277 stl_08 stl_342\">4,325 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3171em;top:29.9914em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.8227em;top:29.9914em;\"><span class=\"stl_277 stl_08 stl_293\">(4,325) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2383em;top:29.9914em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.4465em;top:29.9914em;\"><span class=\"stl_277 stl_08 stl_289\">149 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7602em;top:29.9914em;\"><span class=\"stl_277 stl_08 stl_318\" style=\"word-spacing:-0.0084em;\">May 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7133em;top:31.0077em;\"><span class=\"stl_191 stl_15 stl_179\" style=\"word-spacing:-0.0346em;\">Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:26.2783em;top:31.0077em;\"><span class=\"stl_191 stl_15 stl_187\">120,297 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5683em;top:31.0077em;\"><span class=\"stl_191 stl_15 stl_505\">95,244 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3496em;top:31.0077em;\"><span class=\"stl_191 stl_15 stl_135\">(29,479) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1496em;top:31.0077em;\"><span class=\"stl_191 stl_15 stl_298\">186,062 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7133em;top:32.6333em;\"><span class=\"stl_191 stl_15 stl_221\" style=\"word-spacing:-0.0311em;\">Board of Directors: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7133em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_384\" style=\"word-spacing:-0.014em;\">Fee 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3565em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.7184em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_298\">10,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2777em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.6396em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_298\">10,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.444em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_631\">153 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8146em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_378\" style=\"word-spacing:-0.006em;\">Apr. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7133em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_329\" style=\"word-spacing:-0.0156em;\">Fee 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7927em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_612\">11,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3171em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2777em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.6746em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_612\">11,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.444em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_631\">153 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8146em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_378\" style=\"word-spacing:-0.006em;\">Apr. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7133em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_506\" style=\"word-spacing:-0.0048em;\">Fee 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.2109em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_295\">7,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3171em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2777em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.0927em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_295\">7,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4152em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_384\">273 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8327em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Apr. 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:36.7264em;\"><span class=\"stl_277 stl_08 stl_321\" style=\"word-spacing:-0.0092em;\">Fee 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.2502em;top:36.7264em;\"><span class=\"stl_277 stl_08 stl_707\">7,111 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3171em;top:36.7264em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.9802em;top:36.7264em;\"><span class=\"stl_277 stl_08 stl_708\">(7,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2384em;top:36.7264em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.4309em;top:36.7264em;\"><span class=\"stl_277 stl_08 stl_293\">190 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.869em;top:36.7264em;\"><span class=\"stl_277 stl_08 stl_214\" style=\"word-spacing:-0.0197em;\">Jun. 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:37.7427em;\"><span class=\"stl_191 stl_15 stl_174\" style=\"word-spacing:-0.0323em;\">Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6365em;top:37.7427em;\"><span class=\"stl_191 stl_15 stl_224\">25,705 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5759em;top:37.7427em;\"><span class=\"stl_191 stl_15 stl_506\">10,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8234em;top:37.7427em;\"><span class=\"stl_191 stl_15 stl_438\">(7,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5165em;top:37.7427em;\"><span class=\"stl_191 stl_15 stl_387\">29,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:38.7645em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:26.2734em;top:38.7645em;\"><span class=\"stl_191 stl_15 stl_599\">146,002 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2127em;top:38.7645em;\"><span class=\"stl_191 stl_15 stl_341\">105,884 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.2984em;top:38.7645em;\"><span class=\"stl_191 stl_15 stl_335\">(36,590) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1677em;top:38.7645em;\"><span class=\"stl_191 stl_15 stl_308\">215,296 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:10.2133em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">The grant of the initial restricted stock units to the Exec- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:11.0464em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0261em;\">utive Management related to conversion of cash bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:11.8795em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">(22,429 shares) had no impact on the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:12.7127em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">for 2023, as the corresponding cash bonus (DKK 5.1 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:13.5458em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">million) was accrued in 2022, though the amount has \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:14.3789em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">been reclassified from \"Salary and wages\" to \"Share- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:15.212em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0245em;\">based payment\" in the staff cost note (note 8). The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:16.0452em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">obligation related to the matching shares amount to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:16.8783em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">DKK 2.5 million measured at the same fair value as the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:17.7114em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">initial restricted stock units (DKK 227). The obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:18.5445em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">will be expensed over the three year vesting period. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:20.2114em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0326em;\">The grant of performance restricted stock units to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:21.0445em;\"><span class=\"stl_532 stl_08 stl_36\" style=\"word-spacing:-0.0226em;\">the Executive Management (61,602 shares) will be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:21.8777em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">expensed over the three year vesting period. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:23.5445em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0276em;\">During 2023, DKK 8.6 million (DKK 9.2 million) has been \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:24.3777em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">expensed and recognized as share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:25.2108em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">related to Executive Management. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:26.8777em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">The grant of restricted stock units to the Board of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:27.7108em;\"><span class=\"stl_532 stl_08 stl_178\" style=\"word-spacing:-0.0242em;\">Directors (10,640 shares \u2013 DKK 2.1 million) were fully \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:28.5439em;\"><span class=\"stl_532 stl_08 stl_278\" style=\"word-spacing:-0.0362em;\">expensed at grant. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_204\" style=\"word-spacing:-0.0379em;\">Outstanding restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2627em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:39.8877em;top:11.4733em;\"><span class=\"stl_191 stl_15 stl_26\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:25.0059em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_26\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2259em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_360\">Granted \u00a0</span></div><div class=\"stl_01\" style=\"left:35.8565em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_21\">Released \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0771em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_35\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:44.332em;top:12.2233em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.032em;\">Value at grant \u00a0</span></div><div class=\"stl_01\" style=\"left:24.2752em;top:12.9733em;\"><span class=\"stl_191 stl_15 stl_462\" style=\"word-spacing:-0.0432em;\">as of January 1</span></div><div class=\"stl_01\" style=\"left:29.062em;top:12.9733em;\"><span class=\"stl_191 stl_15 stl_199\" style=\"word-spacing:-0.037em;\">during the year</span></div><div class=\"stl_01\" style=\"left:29.062em;top:12.9733em;\"><span class=\"stl_191 stl_15 stl_199\" style=\"word-spacing:-0.037em;\">during the year \u00a0</span></div><div class=\"stl_01\" style=\"left:39.684em;top:12.9733em;\"><span class=\"stl_191 stl_15 stl_90\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.3034em;top:12.9733em;\"><span class=\"stl_191 stl_15 stl_83\" style=\"word-spacing:-0.0291em;\">date (DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:49.7571em;top:12.9733em;\"><span class=\"stl_191 stl_15 stl_55\" style=\"word-spacing:-0.0271em;\">Vesting date \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.6577em;\"><span class=\"stl_191 stl_15 stl_179\" style=\"word-spacing:-0.0347em;\">Executive Management: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_190\" style=\"word-spacing:-0.0216em;\">Conversion of cash bonus for 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3571em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.704em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_505\">22,578 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2784em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.6253em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_505\">22,578 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4415em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_628\">163 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7184em;top:15.6852em;\"><span class=\"stl_277 stl_08 stl_376\" style=\"word-spacing:-0.0033em;\">Mar. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_84\" style=\"word-spacing:-0.0221em;\">Matching shares - bonus 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3578em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.7478em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_121\">11,288 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.279em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.669em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_121\">11,288 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4421em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_628\">163 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.719em;top:16.707em;\"><span class=\"stl_277 stl_08 stl_376\" style=\"word-spacing:-0.0033em;\">Mar. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">CEO retention plan \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3584em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.8484em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_705\">17,109 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2796em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.7696em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_705\">17,109 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4371em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_292\">156 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8165em;top:17.7289em;\"><span class=\"stl_277 stl_08 stl_378\" style=\"word-spacing:-0.006em;\">Apr. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_183\" style=\"word-spacing:-0.0257em;\">Matching shares - CEO retention plan \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3584em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:32.0415em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_706\">8,554 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2796em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.9628em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_318\">8,554 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4365em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_292\">156 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8159em;top:18.7508em;\"><span class=\"stl_277 stl_08 stl_378\" style=\"word-spacing:-0.006em;\">Apr. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">Sign-on bonus COO \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3578em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:32.0234em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_36\">4,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.279em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.9446em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_261\">4,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4428em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_323\">165 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8152em;top:19.7727em;\"><span class=\"stl_277 stl_08 stl_378\" style=\"word-spacing:-0.006em;\">Apr. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Matching shares - sign-on COO \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3571em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:32.024em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_190\">2,223 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2784em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.9452em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_47\">2,223 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4421em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_323\">165 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8146em;top:20.7945em;\"><span class=\"stl_277 stl_08 stl_378\" style=\"word-spacing:-0.006em;\">Apr. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_36\" style=\"word-spacing:-0.0226em;\">Conversion of cash bonus for 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8077em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_590\">16,413 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3171em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2777em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.6896em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_590\">16,413 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4034em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_200\">222 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7352em;top:21.8164em;\"><span class=\"stl_277 stl_08 stl_99\" style=\"word-spacing:0.006em;\">Mar. 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_39\" style=\"word-spacing:-0.0233em;\">Matching shares - bonus 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.084em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_420\">8,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3165em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2771em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.9659em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_420\">8,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4027em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_200\">222 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7346em;top:22.8383em;\"><span class=\"stl_277 stl_08 stl_99\" style=\"word-spacing:0.006em;\">Mar. 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7121em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_405\" style=\"word-spacing:-0.0204em;\">Conversion of cash bonus for 2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8027em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_593\">11,003 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3159em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2765em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.6846em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_593\">11,003 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4246em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_303\">240 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7152em;top:23.8602em;\"><span class=\"stl_277 stl_08 stl_326\" style=\"word-spacing:-0.004em;\">Mar. 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7121em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_72\" style=\"word-spacing:-0.0206em;\">Matching shares - bonus 2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0734em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_572\">5,500 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3159em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2765em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.9552em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_536\">5,500 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4246em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_303\">240 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7152em;top:24.882em;\"><span class=\"stl_277 stl_08 stl_326\" style=\"word-spacing:-0.004em;\">Mar. 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7121em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_485\" style=\"word-spacing:-0.0382em;\">Sign-on bonus CMO \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0971em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_387\">8,651 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3159em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2765em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.979em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_107\">8,651 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4452em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_289\">149 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.759em;top:25.9039em;\"><span class=\"stl_277 stl_08 stl_318\" style=\"word-spacing:-0.0084em;\">May 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7121em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">Matching shares - sign-on CMO \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0871em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_342\">4,325 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3165em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2771em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.969em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_376\">4,325 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4459em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_289\">149 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7596em;top:26.9258em;\"><span class=\"stl_277 stl_08 stl_318\" style=\"word-spacing:-0.0084em;\">May 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_218\" style=\"word-spacing:-0.0208em;\">Conversion of cash bonus for 2018 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7652em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_131\">16,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3165em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.5065em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_145\">(16,080) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2377em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.4296em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_62\">144 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7127em;top:27.9477em;\"><span class=\"stl_277 stl_08 stl_447\" style=\"word-spacing:-0.0053em;\">Mar. 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_255\" style=\"word-spacing:-0.0213em;\">Matching shares - bonus 2018 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0984em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_48\">8,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3165em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.8371em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_312\">(8,039) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2377em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.4296em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_62\">144 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7127em;top:28.9695em;\"><span class=\"stl_277 stl_08 stl_447\" style=\"word-spacing:-0.0053em;\">Mar. 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:29.9858em;\"><span class=\"stl_191 stl_15 stl_179\" style=\"word-spacing:-0.0346em;\">Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6402em;top:29.9858em;\"><span class=\"stl_191 stl_15 stl_112\">78,218 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6259em;top:29.9858em;\"><span class=\"stl_191 stl_15 stl_392\">66,198 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.4027em;top:29.9858em;\"><span class=\"stl_191 stl_15 stl_459\">(24,119) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1596em;top:29.9858em;\"><span class=\"stl_191 stl_15 stl_187\">120,297 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:31.6114em;\"><span class=\"stl_191 stl_15 stl_221\" style=\"word-spacing:-0.0311em;\">Board of Directors: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:32.6389em;\"><span class=\"stl_277 stl_08 stl_329\" style=\"word-spacing:-0.0156em;\">Fee 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3559em;top:32.6389em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:31.7527em;top:32.6389em;\"><span class=\"stl_277 stl_08 stl_612\">11,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2771em;top:32.6389em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:41.674em;top:32.6389em;\"><span class=\"stl_277 stl_08 stl_612\">11,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4434em;top:32.6389em;\"><span class=\"stl_277 stl_08 stl_631\">153 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.814em;top:32.6389em;\"><span class=\"stl_277 stl_08 stl_378\" style=\"word-spacing:-0.006em;\">Apr. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_506\" style=\"word-spacing:-0.0048em;\">Fee 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.2102em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_295\">7,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3165em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2771em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.0921em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_295\">7,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4146em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_384\">273 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8321em;top:33.6608em;\"><span class=\"stl_277 stl_08 stl_432\" style=\"word-spacing:0.0033em;\">Apr. 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_321\" style=\"word-spacing:-0.0092em;\">Fee 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.2496em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_707\">7,111 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3165em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:38.2771em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:42.1315em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_707\">7,111 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4302em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_293\">190 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8684em;top:34.6827em;\"><span class=\"stl_277 stl_08 stl_214\" style=\"word-spacing:-0.0197em;\">Jun. 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7121em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_128\" style=\"word-spacing:0.0008em;\">Fee 2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7471em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_395\">12,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3159em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.4884em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_153\">(12,340) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2371em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:47.434em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_162\">138 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8096em;top:35.7045em;\"><span class=\"stl_277 stl_08 stl_429\" style=\"word-spacing:-0.008em;\">Apr. 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7121em;top:36.7208em;\"><span class=\"stl_191 stl_15 stl_174\" style=\"word-spacing:-0.0323em;\">Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:26.619em;top:36.7208em;\"><span class=\"stl_191 stl_15 stl_484\">26,578 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6071em;top:36.7208em;\"><span class=\"stl_191 stl_15 stl_125\">11,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3209em;top:36.7208em;\"><span class=\"stl_191 stl_15 stl_452\">(12,340) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5177em;top:36.7208em;\"><span class=\"stl_191 stl_15 stl_224\">25,705 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7121em;top:37.7427em;\"><span class=\"stl_191 stl_15 stl_384\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:26.2665em;top:37.7427em;\"><span class=\"stl_191 stl_15 stl_227\">104,796 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5984em;top:37.7427em;z-index:1577;\"><span class=\"stl_191 stl_15 stl_263\">7</span><span class=\"stl_191 stl_15 stl_709\">7</span><span class=\"stl_191 stl_15 stl_307\">,665 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.309em;top:37.7427em;\"><span class=\"stl_191 stl_15 stl_388\">(36,459) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1546em;top:37.7427em;\"><span class=\"stl_191 stl_15 stl_599\">146,002 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.2133em;\"><span class=\"stl_585 stl_15 stl_213\" style=\"word-spacing:-0.0328em;\">Total share-based payments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Below a specification of all share-based payments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">expensed in 2023 and 2022. The amounts reconcile to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_87\" style=\"word-spacing:-0.025em;\">note 8. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.9878em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.194em;top:14.9821em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9715em;top:14.9821em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.6721em;\"><span class=\"stl_277 stl_08 stl_69\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8377em;top:16.6721em;\"><span class=\"stl_277 stl_08 stl_667\">47,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5821em;top:16.6721em;\"><span class=\"stl_277 stl_08 stl_337\">42,937 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.694em;\"><span class=\"stl_277 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">Restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8084em;top:17.694em;\"><span class=\"stl_277 stl_08 stl_147\">10,653 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.624em;top:17.694em;\"><span class=\"stl_277 stl_08 stl_548\">11,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:18.7103em;\"><span class=\"stl_191 stl_15 stl_46\" style=\"word-spacing:-0.0366em;\">Share-based payment recognized directly in equity \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6221em;top:18.7103em;\"><span class=\"stl_191 stl_15 stl_66\">58,642 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4646em;top:18.7103em;\"><span class=\"stl_191 stl_15 stl_312\">53,976 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:20.3415em;\"><span class=\"stl_277 stl_08 stl_341\" style=\"word-spacing:-0.0101em;\">2021-2023 phantom share program \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9371em;top:20.3415em;\"><span class=\"stl_277 stl_08 stl_106\">(3,733) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4084em;top:20.3415em;\"><span class=\"stl_277 stl_08 stl_355\">143 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:21.3634em;\"><span class=\"stl_277 stl_08 stl_232\" style=\"word-spacing:-0.0154em;\">2020-2022 phantom share program \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5859em;top:21.3634em;\"><span class=\"stl_277 stl_08 stl_360\">568 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7071em;top:21.3634em;\"><span class=\"stl_277 stl_08 stl_101\">(1,234) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:22.3853em;\"><span class=\"stl_277 stl_08 stl_320\" style=\"word-spacing:-0.0103em;\">2019-2021 phantom share program \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3821em;top:22.3853em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:34.7096em;top:22.3853em;\"><span class=\"stl_277 stl_08 stl_104\">(3,601) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7121em;top:23.4015em;\"><span class=\"stl_191 stl_15 stl_400\" style=\"word-spacing:-0.0338em;\">Share-based payment recognized as a liability (change during the year) \u00a0</span></div><div class=\"stl_01\" style=\"left:30.839em;top:23.4015em;\"><span class=\"stl_191 stl_15 stl_630\">(3,165) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5859em;top:23.4015em;\"><span class=\"stl_191 stl_15 stl_339\">(4,692) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7121em;top:25.0271em;\"><span class=\"stl_191 stl_15 stl_249\" style=\"word-spacing:-0.0321em;\">Total share-based payment expensed, cf. note 8 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6396em;top:25.0271em;\"><span class=\"stl_191 stl_15 stl_305\">55,477 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4421em;top:25.0271em;\"><span class=\"stl_191 stl_15 stl_490\">49,284 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7121em;top:26.6584em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">Restricted stock units converted to cash bonus at exercise \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3815em;top:26.6584em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:36.1609em;top:26.6584em;\"><span class=\"stl_277 stl_08 stl_24\">-</span></div><div class=\"stl_01\" style=\"left:4.7121em;top:28.2784em;\"><span class=\"stl_191 stl_15 stl_142\" style=\"word-spacing:-0.0363em;\">Non-cash adjustment in cash flow statement \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6396em;top:28.2784em;\"><span class=\"stl_191 stl_15 stl_305\">55,477 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4421em;top:28.2784em;\"><span class=\"stl_191 stl_15 stl_490\">49,284 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2582": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">Share-based incentive plans in which employees can \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0264em;\">only opt to buy shares in the Company (warrants) are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0333em;\">measured at the equity instruments\u2019 fair value at the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0279em;\">grant date and recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">over the vesting period. The balancing item is recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">nized directly in equity. The fair value on the date of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">grant is determined using the Black-Scholes model. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">Cash-based incentive programs in which employees \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0265em;\">can have the difference between the agreed exer- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.5374em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">cise price and the actual share price settled in cash \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3706em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0247em;\">(phantom shares) are measured at fair value at the date \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2037em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">of grant and recognized in the income statement over \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0368em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">the period when the final right of cash-settlement is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8699em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0321em;\">obtained. Granted rights are subsequently re-measured \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7031em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">on each balance sheet date and upon final settlement, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5362em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">and any changes in the fair value of the programs are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3693em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">recognized in the income statement. The balancing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2024em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">item is recognized under other liabilities. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8693em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">The fair value of the cash-based incentive programs is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7024em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0297em;\">determined using the Black-Scholes model. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3693em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">Restricted stock units and performance restricted stock \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2024em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">units are measured at fair value at grant date. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.8693em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">For Executive Management cash bonus converted to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.7024em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">restricted stock units, the number of restricted stock \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.5356em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">units are calculated by dividing the allocated cash \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.3687em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">bonus amount by the share price of the Company at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.2018em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">grant date. As the cash bonus has already been accrued \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:37.0349em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">and expensed in the income statement, the grant \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2018em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">of restricted stock units has no additional impact on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0349em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">the income statement. The accrued liability for the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8681em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0272em;\">converted cash bonus is reclassified to equity. Matching \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7012em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0301em;\">shares are measured at the same fair value as the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5343em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0317em;\">initial restricted stock units and expensed over the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3674em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">three year vesting period. The balancing item is recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.2006em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0291em;\">nized directly in equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8674em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">Performance restricted stock units granted to Execu- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.7006em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">tive Management as part of their long term incentive \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.5337em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">scheme are expensed over the three year vesting \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3668em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">period with the balancing item recognized directly in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1999em;\"><span class=\"stl_532 stl_08 stl_144\">equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8668em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.034em;\">Restricted stock units granted as sign-on bonus for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.6999em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">members of the Executive Management and restricted \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5331em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">stock units granted to the Board of Directors are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3662em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">expensed at grant date with the balancing item recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.1993em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">nized directly in equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8606em;\"><span class=\"stl_585 stl_15 stl_360\" style=\"word-spacing:-0.033em;\">Incentive plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.6993em;\"><span class=\"stl_532 stl_08 stl_183\" style=\"word-spacing:-0.0256em;\">In order to motivate and retain key employees and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.5324em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">encourage the achievement of common goals for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3656em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">employees, management and shareholders, the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.1987em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">Company has established incentive plans by way of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.0318em;\"><span class=\"stl_532 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">warrant programs and restricted stock units programs, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.8649em;\"><span class=\"stl_532 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">the latter only for members of the Executive Manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.6981em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">ment and Board of Directors. Furthermore, the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.5312em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">Company has established three-year phantom share \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:35.3643em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">programs for all employees of the Group except for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.1974em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">Executive Management and other employees receiving \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:37.0306em;\"><span class=\"stl_532 stl_08 stl_440\">warrants. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.1918em;\"><span class=\"stl_585 stl_15 stl_248\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.0306em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">The Board of Directors has been granting warrants to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.8637em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">the Company\u00b4s management and selected employees \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:13.6968em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">of the Company and its subsidiaries. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:15.3637em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">The warrants are granted in accordance with the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:16.1968em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">authorizations given to the Board of Directors by the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.0299em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">shareholders. The Board of Directors has fixed the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.8631em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">terms of and the size of the grants of warrants, taking \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:18.6962em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">into account authorizations from the shareholders, the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:19.5293em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">Group's guidelines for incentive pay, an assessment of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:20.3624em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">expectations of the recipient\u00b4s work efforts and contri- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:21.1956em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0263em;\">bution to the Group\u00b4s growth, as well as the need to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:22.0287em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">motivate and retain the recipient. Grant takes place on \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:22.8618em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">the date of establishment of the program. Exercise of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:23.6949em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">warrants is by default subject to continuing employ- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:24.5281em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">ment with the Group. The warrants granted are subject \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:25.3612em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">to the provisions of the Danish Public Companies Act \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:26.1943em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">regarding termination of employees prior to their \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.0274em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">exercise of warrants in the case of recipients who are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.8606em;\"><span class=\"stl_532 stl_08 stl_176\" style=\"word-spacing:-0.0377em;\">subject to the act. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2593": {
   "value": "<div class=\"stl_01\" style=\"left:38.7407em;top:11.1918em;\"><span class=\"stl_585 stl_15 stl_248\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.0306em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">The Board of Directors has been granting warrants to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.8637em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">the Company\u00b4s management and selected employees \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:13.6968em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.032em;\">of the Company and its subsidiaries. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:15.3637em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">The warrants are granted in accordance with the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:16.1968em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">authorizations given to the Board of Directors by the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.0299em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">shareholders. The Board of Directors has fixed the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.8631em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0321em;\">terms of and the size of the grants of warrants, taking \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:18.6962em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">into account authorizations from the shareholders, the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:19.5293em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0254em;\">Group's guidelines for incentive pay, an assessment of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:20.3624em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">expectations of the recipient\u00b4s work efforts and contri- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:21.1956em;\"><span class=\"stl_532 stl_08 stl_52\" style=\"word-spacing:-0.0263em;\">bution to the Group\u00b4s growth, as well as the need to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:22.0287em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">motivate and retain the recipient. Grant takes place on \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:22.8618em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">the date of establishment of the program. Exercise of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:23.6949em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">warrants is by default subject to continuing employ- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:24.5281em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">ment with the Group. The warrants granted are subject \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:25.3612em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">to the provisions of the Danish Public Companies Act \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:26.1943em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">regarding termination of employees prior to their \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.0274em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0295em;\">exercise of warrants in the case of recipients who are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.8606em;\"><span class=\"stl_532 stl_08 stl_176\" style=\"word-spacing:-0.0377em;\">subject to the act. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForWarrantsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2618": {
   "value": "<div class=\"stl_01\" style=\"left:55.7465em;top:10.2133em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">The grant of the initial restricted stock units to the Exec- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:11.0464em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0261em;\">utive Management related to conversion of cash bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:11.8795em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">(22,429 shares) had no impact on the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:12.7127em;\"><span class=\"stl_532 stl_08 stl_51\" style=\"word-spacing:-0.0266em;\">for 2023, as the corresponding cash bonus (DKK 5.1 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:13.5458em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0309em;\">million) was accrued in 2022, though the amount has \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:14.3789em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">been reclassified from \"Salary and wages\" to \"Share- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:15.212em;\"><span class=\"stl_532 stl_08 stl_54\" style=\"word-spacing:-0.0245em;\">based payment\" in the staff cost note (note 8). The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:16.0452em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0268em;\">obligation related to the matching shares amount to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:16.8783em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.034em;\">DKK 2.5 million measured at the same fair value as the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:17.7114em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">initial restricted stock units (DKK 227). The obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7465em;top:18.5445em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">will be expensed over the three year vesting period. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2621": {
   "value": "<div class=\"stl_01\" style=\"left:38.7454em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_342\" style=\"word-spacing:-0.0035em;\">Note 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7454em;top:7.0862em;\"><span class=\"stl_30 stl_08 stl_85\" style=\"word-spacing:0.0139em;\">Acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7384em;top:10.2178em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">On February 15, 2023, Bavarian Nordic A/S entered into \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7384em;top:11.0509em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">an agreement with Emergent BioSolutions. to acquire \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7384em;top:11.884em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0275em;\">two marketed travel vaccines, Vivotif</span><sup style=\"top: -0.2065em;\"><span class=\"stl_710 stl_08 stl_24\" style=\"word-spacing:0.1974em;\">\u00ae </span></sup><span class=\"stl_532 stl_08 stl_90\" style=\"word-spacing:-0.0258em;\">for the preven- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:12.7187em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">tion of typhoid fever and Vaxchora</span><sup style=\"top: -0.2079em;\"><span class=\"stl_710 stl_08 stl_24\" style=\"word-spacing:0.1974em;\">\u00ae </span></sup><span class=\"stl_532 stl_08 stl_193\" style=\"word-spacing:-0.0349em;\">against cholera as \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:13.552em;\"><span class=\"stl_532 stl_08 stl_43\" style=\"word-spacing:-0.0269em;\">well as a Phase 3 vaccine candidate for the prevention \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:14.3852em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0344em;\">of chikungunya virus. The acquisition further includes a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:15.2183em;\"><span class=\"stl_532 stl_08 stl_374\" style=\"word-spacing:-0.0314em;\">Swiss-based biologics manufacturing facility, US-based \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:16.0514em;\"><span class=\"stl_532 stl_08 stl_56\" style=\"word-spacing:-0.0263em;\">research and development facilities related to the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:16.8845em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">development of the chikungunya vaccine, and EU/ \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:17.7177em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0315em;\">US-based commercial operations with a specialty sales- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:18.5508em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">force. The acquisition includes four subsidiaries, the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:19.3839em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">main being the manufacturing facility in Switzerland. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:20.217em;\"><span class=\"stl_532 stl_08 stl_37\" style=\"word-spacing:-0.0335em;\">The US-based activities are carved-out from Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:21.0502em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0287em;\">BioSolutions and are integrated into Bavarian Nordic\u2019s \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:21.8833em;\"><span class=\"stl_532 stl_08 stl_251\" style=\"word-spacing:-0.0229em;\">current U.S. entity. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:23.5502em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">The transaction closed on May 15, 2023. The consid- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:24.3833em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">eration included an upfront payment of USD 270 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:25.2164em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">million and up to USD 110 million in future conditional \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:26.0495em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">milestone payments. Additionally, USD 4 million were \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:26.8827em;\"><span class=\"stl_532 stl_08 stl_83\" style=\"word-spacing:-0.0293em;\">added to the cash payment to Emergent BioSolutions \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:27.7158em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0327em;\">which includes estimated adjustments for net working \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:28.5489em;\"><span class=\"stl_532 stl_08 stl_200\" style=\"word-spacing:-0.0339em;\">capital, debt, and other customary closing adjustments. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:29.382em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0327em;\">The actual working capital adjustment led to a post- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:30.2152em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0277em;\">closing payment of USD 0.6 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:10.2095em;\"><span class=\"stl_585 stl_15 stl_93\" style=\"word-spacing:-0.0356em;\">Details of the acquisition \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:11.0483em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">The purchase price has been allocated to the acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:11.8814em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">net asset and the allocation is considered final, see \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:12.7145em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0335em;\">further below. The transaction was not subject to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:13.5477em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">recognition of goodwill. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:15.2145em;\"><span class=\"stl_532 stl_08 stl_71\" style=\"word-spacing:-0.0334em;\">Transaction costs of DKK 64 million are included in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:16.0477em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">administration costs in the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:17.7145em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">Bavarian Nordic is conditioned to pay Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:18.5477em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">BioSolutions upon the achievement of milestones \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:19.3808em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0281em;\">related to the successful development of the chikun- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:20.2139em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">gunya vaccine (USD 80 million) and sales performance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:21.047em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0252em;\">of the marketed vaccines (USD 30 million). Based on \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:21.8802em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0338em;\">current regulatory plans and expectations for future \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:22.7133em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">submission and approval of applications related to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:23.5464em;\"><span class=\"stl_532 stl_08 stl_249\" style=\"word-spacing:-0.0319em;\">the chikungunya-vaccine all development milestones \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:24.3795em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0299em;\">are assumed probable. The net present value of the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:25.2127em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0323em;\">probable milestone payments, DKK 499 million, has \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:26.0458em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">been recognized as part of the \"Acquired rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:26.8789em;\"><span class=\"stl_532 stl_08 stl_44\" style=\"word-spacing:-0.0295em;\">development in progress\" (further addition to the asset) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:27.712em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0323em;\">and a corresponding liability has been recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:28.5452em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.03em;\">deferred consideration. The sales milestone of USD 30 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:29.3783em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">million related to future sale of Vivotif</span><sup style=\"top: -0.2008em;\"><span class=\"stl_710 stl_08 stl_24\" style=\"word-spacing:0.1974em;\">\u00ae </span></sup><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">and Vaxchora</span><sup style=\"top: -0.2081em;\"><span class=\"stl_710 stl_08 stl_477\" style=\"word-spacing:-0.0521em;\">\u00ae \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:55.7478em;top:30.2187em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">is currently not considered probable. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7478em;top:31.8856em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">The acquisition in total contributed with DKK 142.6 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7478em;top:32.7187em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">million to revenue and a negative EBITDA of DKK 399 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7478em;top:33.5518em;\"><span class=\"stl_532 stl_08 stl_400\">million. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2189em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0313em;\">The acquisition has been included in the Consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Financial Statements of Bavarian Nordic as of the date \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">of acquisition May 15, 2023. Bavarian Nordic has made \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.2183em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">the following final calculation of the fair value of the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0514em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">acquired net assets at the time of the acquisition: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.1544em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6319em;top:14.1488em;\"><span class=\"stl_191 stl_15 stl_58\" style=\"word-spacing:-0.0287em;\">Total acquisition \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.8388em;\"><span class=\"stl_277 stl_08 stl_75\" style=\"word-spacing:-0.0375em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2507em;top:15.8388em;\"><span class=\"stl_277 stl_08 stl_187\">449,577 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8607em;\"><span class=\"stl_277 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">Development asset \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7494em;top:16.8607em;\"><span class=\"stl_277 stl_08 stl_288\">1,286,778 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8825em;\"><span class=\"stl_277 stl_08 stl_179\" style=\"word-spacing:-0.0346em;\">Other intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9419em;top:17.8825em;\"><span class=\"stl_277 stl_08 stl_245\">5,419 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.9044em;\"><span class=\"stl_277 stl_08 stl_360\" style=\"word-spacing:-0.0331em;\">Property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2532em;top:18.9044em;\"><span class=\"stl_277 stl_08 stl_390\">681,453 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.9263em;\"><span class=\"stl_277 stl_08 stl_178\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6144em;top:19.9263em;\"><span class=\"stl_277 stl_08 stl_168\">41,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.9482em;\"><span class=\"stl_277 stl_08 stl_41\">Inventories \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2832em;top:20.9482em;\"><span class=\"stl_277 stl_08 stl_451\">126,933 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.9701em;\"><span class=\"stl_277 stl_08 stl_34\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5769em;top:21.9701em;\"><span class=\"stl_277 stl_08 stl_129\">20,503 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.9919em;\"><span class=\"stl_277 stl_08 stl_82\">Prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5863em;top:22.9919em;\"><span class=\"stl_277 stl_08 stl_553\">39,899 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.0138em;\"><span class=\"stl_277 stl_08 stl_192\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5688em;top:24.0138em;\"><span class=\"stl_277 stl_08 stl_326\">66,531 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.0357em;\"><span class=\"stl_277 stl_08 stl_52\" style=\"word-spacing:-0.0263em;\">Deferred tax assets (liabilities), net \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3888em;top:25.0357em;\"><span class=\"stl_277 stl_08 stl_125\">(25,814) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.0575em;\"><span class=\"stl_277 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">Retirement benefit obligations \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3907em;top:26.0575em;\"><span class=\"stl_277 stl_08 stl_103\">(55,988) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0794em;\"><span class=\"stl_277 stl_08 stl_55\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0469em;top:27.0794em;\"><span class=\"stl_277 stl_08 stl_553\">(136,686) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.1013em;\"><span class=\"stl_277 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">Leasing liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4463em;top:28.1013em;\"><span class=\"stl_277 stl_08 stl_711\">(41,943) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.1232em;\"><span class=\"stl_277 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">Other payables \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4969em;top:29.1232em;\"><span class=\"stl_277 stl_08 stl_712\">(61,189) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.1394em;\"><span class=\"stl_191 stl_15 stl_83\" style=\"word-spacing:-0.0292em;\">Total acquisition price \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5919em;top:30.1394em;\"><span class=\"stl_191 stl_15 stl_140\">2,397,416 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.7582em;\"><span class=\"stl_191 stl_15 stl_200\" style=\"word-spacing:-0.0341em;\">Contingent consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:33.9257em;top:31.7582em;\"><span class=\"stl_191 stl_15 stl_323\">(499,312) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.3769em;\"><span class=\"stl_191 stl_15 stl_193\" style=\"word-spacing:-0.035em;\">Consideration transferred \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5838em;top:33.3769em;\"><span class=\"stl_191 stl_15 stl_116\">1,898,104 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.4044em;\"><span class=\"stl_277 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Cash acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4025em;top:34.4044em;\"><span class=\"stl_277 stl_08 stl_145\">(66,531) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.4207em;\"><span class=\"stl_191 stl_15 stl_344\" style=\"word-spacing:-0.0348em;\">Cash used for acquisition of business \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5569em;top:35.4207em;\"><span class=\"stl_191 stl_15 stl_132\">1,831,573 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:37.045em;\"><span class=\"stl_277 stl_08 stl_360\" style=\"word-spacing:-0.033em;\">Number of employees \u00a0</span></div><div class=\"stl_01\" style=\"left:35.385em;top:37.045em;\"><span class=\"stl_277 stl_08 stl_268\">280 \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">The purchase price for the acquisition comprises of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">identifiable assets and liabilities and contingent liabil- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">ities assumed measured at fair value at the date of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">acquisition by applying relevant valuation methods. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Acquisition-related costs are expensed as incurred. Cost \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0296em;\">of acquired product rights are measured at cash consid- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">eration and present value of any probable deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">milestone payments for those rights. A corresponding \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">deferred consideration is recognized at initial recogni- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">tion. Subsequently, the deferred consideration is meas- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.5368em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">ured at amortized cost. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2627": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_517 stl_15 stl_57\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0295em;\">The purchase price for the acquisition comprises of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">identifiable assets and liabilities and contingent liabil- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.028em;\">ities assumed measured at fair value at the date of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0305em;\">acquisition by applying relevant valuation methods. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Acquisition-related costs are expensed as incurred. Cost \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_532 stl_08 stl_82\" style=\"word-spacing:-0.0296em;\">of acquired product rights are measured at cash consid- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.2043em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">eration and present value of any probable deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0374em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">milestone payments for those rights. A corresponding \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8706em;\"><span class=\"stl_532 stl_08 stl_55\" style=\"word-spacing:-0.0271em;\">deferred consideration is recognized at initial recogni- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7037em;\"><span class=\"stl_532 stl_08 stl_35\" style=\"word-spacing:-0.027em;\">tion. Subsequently, the deferred consideration is meas- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.5368em;\"><span class=\"stl_532 stl_08 stl_213\" style=\"word-spacing:-0.0329em;\">ured at amortized cost. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2646": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_388\" style=\"word-spacing:0.0005em;\">Note 33 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_62\" style=\"word-spacing:0.011em;\">Contingent liabilities and other contractual obligations \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2202em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9977em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9583em;\"><span class=\"stl_191 stl_15 stl_400\" style=\"word-spacing:-0.0338em;\">Collaborative agreements \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">Contractual obligations with research (CRO) and manufacturing (CMO) partners. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">- Due within 1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7864em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_66\">44,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2608em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_365\">260,082 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.3202em;\"><span class=\"stl_585 stl_15 stl_193\" style=\"word-spacing:-0.0351em;\">Sales milestone to GSK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.1589em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">The Asset Purchase Agreement with GSK regarding the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.992em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">acquisition of the product rights to Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.8252em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0343em;\">and Encepur includes a sales milestone of EUR 25 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.6583em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">million. As per December 31, 2023 Management does \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.4914em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0337em;\">not judge the sales milestone to be probable and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.3245em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">therefore the sales milestone has not been recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.1577em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">as either part of the product rights (note 15) nor the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.9908em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0259em;\">deferred consideration for product rights (note 24). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.652em;\"><span class=\"stl_585 stl_15 stl_93\" style=\"word-spacing:-0.0356em;\">Earnout to Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.4908em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.3239em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Emergent BioSolutions in May 2023 includes an earnout \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.157em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">payment starting at USD 30 million. The earnout \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.9902em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">payment relates to sale of Vivotif and Vaxchora. As \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.8233em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">per December 31, 2023 Management does not judge \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.6564em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">the sales milestone to be probable and therefore the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:30.4895em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">earnout payment has not been recognized as either \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.3227em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">part of the project rights (note 15) nor the deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:32.1558em;\"><span class=\"stl_532 stl_08 stl_448\" style=\"word-spacing:-0.0173em;\">consideration (note 24). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.817em;\"><span class=\"stl_585 stl_15 stl_159\" style=\"word-spacing:-0.0343em;\">License agreements National Cancer Institute \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:34.6558em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">The Group has license agreements with the National \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:35.4889em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Cancer Institute (NCI) and Public Health Service (PHS) in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.322em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">the U.S. for PROSTVAC, CV301 and BN-Brachyury, respec- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.322em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">tively. The agreements include contingent liabilities for \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.1552em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">the Group to pay performance-based royalties, if and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.9883em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">when certain milestone events are achieved. Further, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.8214em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">the agreements include potential contingent liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.6545em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">for the Group to pay additional sublicensing royalties \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.4877em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">on the fair market value of consideration received, if \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.3208em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">and when the Group grants such sublicenses. Payments \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.1539em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">considered remote are not included in the amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.987em;\"><span class=\"stl_532 stl_08 stl_255\">above. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.6483em;\"><span class=\"stl_585 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">Company mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.487em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">The Company has by letter of indemnity granted \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.3202em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">Nordea a floating charge on unsecured claims arising \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.1533em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">from the sale of goods and services and stocks of raw \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.9864em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">materials, intermediate products and finished products, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:28.8195em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">DKK 150 million (DKK 150 million). The floating charge \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:29.6527em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">secures the operating credit line of DKK 20 million and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:30.4858em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0349em;\">the line for trading in financial instruments, DKK 50 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.3189em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0251em;\">million (DKK 50 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.9801em;\"><span class=\"stl_585 stl_15 stl_344\">Lawsuits \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:33.8189em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">Based on management's assessment the Group is not \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:34.652em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">involved in any lawsuits or arbitration cases which \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:35.4852em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">could have a material impact on the Group's financial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.3183em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">position or results of operations. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2647": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_388\" style=\"word-spacing:0.0005em;\">Note 33 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_62\" style=\"word-spacing:0.011em;\">Contingent liabilities and other contractual obligations \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2795em;\"><span class=\"stl_277 stl_08 stl_494\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2202em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_99\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9977em;top:10.2739em;\"><span class=\"stl_191 stl_15 stl_169\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.9583em;\"><span class=\"stl_191 stl_15 stl_400\" style=\"word-spacing:-0.0338em;\">Collaborative agreements \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.9858em;\"><span class=\"stl_277 stl_08 stl_58\" style=\"word-spacing:-0.0288em;\">Contractual obligations with research (CRO) and manufacturing (CMO) partners. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">- Due within 1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7864em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_66\">44,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2608em;top:14.0077em;\"><span class=\"stl_277 stl_08 stl_365\">260,082 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.3202em;\"><span class=\"stl_585 stl_15 stl_193\" style=\"word-spacing:-0.0351em;\">Sales milestone to GSK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.1589em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">The Asset Purchase Agreement with GSK regarding the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.992em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">acquisition of the product rights to Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.8252em;\"><span class=\"stl_532 stl_08 stl_159\" style=\"word-spacing:-0.0343em;\">and Encepur includes a sales milestone of EUR 25 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.6583em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0351em;\">million. As per December 31, 2023 Management does \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.4914em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0337em;\">not judge the sales milestone to be probable and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.3245em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0286em;\">therefore the sales milestone has not been recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.1577em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0305em;\">as either part of the product rights (note 15) nor the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.9908em;\"><span class=\"stl_532 stl_08 stl_144\" style=\"word-spacing:-0.0259em;\">deferred consideration for product rights (note 24). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.652em;\"><span class=\"stl_585 stl_15 stl_93\" style=\"word-spacing:-0.0356em;\">Earnout to Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.4908em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.3239em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">Emergent BioSolutions in May 2023 includes an earnout \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.157em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0332em;\">payment starting at USD 30 million. The earnout \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.9902em;\"><span class=\"stl_532 stl_08 stl_57\" style=\"word-spacing:-0.0282em;\">payment relates to sale of Vivotif and Vaxchora. As \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.8233em;\"><span class=\"stl_532 stl_08 stl_400\" style=\"word-spacing:-0.0338em;\">per December 31, 2023 Management does not judge \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.6564em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">the sales milestone to be probable and therefore the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:30.4895em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">earnout payment has not been recognized as either \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.3227em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.029em;\">part of the project rights (note 15) nor the deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:32.1558em;\"><span class=\"stl_532 stl_08 stl_448\" style=\"word-spacing:-0.0173em;\">consideration (note 24). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.817em;\"><span class=\"stl_585 stl_15 stl_159\" style=\"word-spacing:-0.0343em;\">License agreements National Cancer Institute \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:34.6558em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0307em;\">The Group has license agreements with the National \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:35.4889em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0278em;\">Cancer Institute (NCI) and Public Health Service (PHS) in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.322em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">the U.S. for PROSTVAC, CV301 and BN-Brachyury, respec- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.322em;\"><span class=\"stl_532 stl_08 stl_58\" style=\"word-spacing:-0.0289em;\">tively. The agreements include contingent liabilities for \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.1552em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0308em;\">the Group to pay performance-based royalties, if and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.9883em;\"><span class=\"stl_532 stl_08 stl_182\" style=\"word-spacing:-0.0294em;\">when certain milestone events are achieved. Further, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.8214em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">the agreements include potential contingent liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.6545em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0284em;\">for the Group to pay additional sublicensing royalties \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.4877em;\"><span class=\"stl_532 stl_08 stl_42\" style=\"word-spacing:-0.0277em;\">on the fair market value of consideration received, if \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.3208em;\"><span class=\"stl_532 stl_08 stl_192\" style=\"word-spacing:-0.0325em;\">and when the Group grants such sublicenses. Payments \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.1539em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0311em;\">considered remote are not included in the amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.987em;\"><span class=\"stl_532 stl_08 stl_255\">above. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.6483em;\"><span class=\"stl_585 stl_15 stl_417\" style=\"word-spacing:-0.0372em;\">Company mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.487em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">The Company has by letter of indemnity granted \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.3202em;\"><span class=\"stl_532 stl_08 stl_189\" style=\"word-spacing:-0.0316em;\">Nordea a floating charge on unsecured claims arising \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.1533em;\"><span class=\"stl_532 stl_08 stl_280\" style=\"word-spacing:-0.0342em;\">from the sale of goods and services and stocks of raw \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.9864em;\"><span class=\"stl_532 stl_08 stl_386\" style=\"word-spacing:-0.0331em;\">materials, intermediate products and finished products, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:28.8195em;\"><span class=\"stl_532 stl_08 stl_34\" style=\"word-spacing:-0.0289em;\">DKK 150 million (DKK 150 million). The floating charge \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:29.6527em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0319em;\">secures the operating credit line of DKK 20 million and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:30.4858em;\"><span class=\"stl_532 stl_08 stl_344\" style=\"word-spacing:-0.0349em;\">the line for trading in financial instruments, DKK 50 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.3189em;\"><span class=\"stl_532 stl_08 stl_53\" style=\"word-spacing:-0.0251em;\">million (DKK 50 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.9801em;\"><span class=\"stl_585 stl_15 stl_344\">Lawsuits \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:33.8189em;\"><span class=\"stl_532 stl_08 stl_221\" style=\"word-spacing:-0.0312em;\">Based on management's assessment the Group is not \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:34.652em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0304em;\">involved in any lawsuits or arbitration cases which \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:35.4852em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">could have a material impact on the Group's financial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.3183em;\"><span class=\"stl_532 stl_08 stl_21\" style=\"word-spacing:-0.0322em;\">position or results of operations. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2662": {
   "value": "<div class=\"stl_01\" style=\"left:4.7192em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_305\" style=\"word-spacing:-0.0065em;\">Note 34 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_390\" style=\"word-spacing:0.005em;\">Related party transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:10.2164em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0317em;\">The Group Management and Board of Directors of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:11.0495em;\"><span class=\"stl_532 stl_08 stl_180\" style=\"word-spacing:-0.0306em;\">Bavarian Nordic A/S are considered related parties. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:12.7164em;\"><span class=\"stl_532 stl_08 stl_177\" style=\"word-spacing:-0.031em;\">Besides the remuneration of the Board of Directors and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:13.5495em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0302em;\">the Executive Management, cf. note 8, and the share- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:14.3827em;\"><span class=\"stl_532 stl_08 stl_78\" style=\"word-spacing:-0.0303em;\">based payments, cf. note 30, there are no transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7245em;top:15.2158em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0303em;\">with related parties. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7327em;top:10.2158em;\"><span class=\"stl_532 stl_08 stl_63\" style=\"word-spacing:-0.0299em;\">Transactions with subsidiaries are eliminated in the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7327em;top:11.0489em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">consolidated financial statements, in accordance with \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7327em;top:11.882em;\"><span class=\"stl_532 stl_08 stl_18\" style=\"word-spacing:-0.0301em;\">the accounting policies. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2665": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_483 stl_08 stl_388\" style=\"word-spacing:0.0005em;\">Note 35 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_30 stl_08 stl_139\" style=\"word-spacing:0.0134em;\">Significant events after the balance sheet date \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2189em;\"><span class=\"stl_532 stl_08 stl_174\" style=\"word-spacing:-0.0325em;\">On February 23, 2024, the Company announced that \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.052em;\"><span class=\"stl_532 stl_08 stl_93\" style=\"word-spacing:-0.0356em;\">the Committee for Medicinal Products for Human Use \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.8852em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">(CHMP) of the European Medicines Agency (EMA) has \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.7183em;\"><span class=\"stl_532 stl_08 stl_175\" style=\"word-spacing:-0.0279em;\">granted accelerated assessment for the upcoming \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5514em;\"><span class=\"stl_532 stl_08 stl_69\" style=\"word-spacing:-0.0352em;\">Marketing Authorisation Application (MAA) for CHIKV \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.3845em;z-index:381;\"><span class=\"stl_532 stl_08 stl_263\">VL</span><span class=\"stl_532 stl_08 stl_518\">P</span><span class=\"stl_532 stl_08 stl_24\" style=\"word-spacing:0em;\">, </span><span class=\"stl_532 stl_08 stl_200\">t</span><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0297em;\">he Company\u2019s investigational chikungunya \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.2177em;\"><span class=\"stl_532 stl_08 stl_55\">vaccine. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:10.2177em;\"><span class=\"stl_532 stl_08 stl_41\" style=\"word-spacing:-0.0255em;\">Except as noted above, there have been no significant \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.0508em;\"><span class=\"stl_532 stl_08 stl_185\" style=\"word-spacing:-0.0285em;\">events between December 31, 2023 and the date of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.8839em;\"><span class=\"stl_532 stl_08 stl_201\" style=\"word-spacing:-0.0296em;\">approval of these financial statements that would \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.717em;\"><span class=\"stl_532 stl_08 stl_61\" style=\"word-spacing:-0.0307em;\">require a change to or additional disclosure in the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.5502em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">financial statements. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact2668": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:27.6118em;\"><span class=\"stl_483 stl_08 stl_298\" style=\"word-spacing:-0.002em;\">Note 36 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.1381em;\"><span class=\"stl_30 stl_08 stl_136\" style=\"word-spacing:0.0119em;\">Approval of the consolidated financial statements \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:32.1852em;\"><span class=\"stl_532 stl_08 stl_195\" style=\"word-spacing:-0.0285em;\">The consolidated financial statements were approved \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.0183em;\"><span class=\"stl_532 stl_08 stl_334\" style=\"word-spacing:-0.0318em;\">by the Board of Directors and Corporate Management \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.8514em;\"><span class=\"stl_532 stl_08 stl_33\" style=\"word-spacing:-0.0274em;\">and authorized for issue on March 6, 2024. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  },
  "fact1667": {
   "value": "A/S",
   "dimensions": {
    "concept": "ifrs-full:LegalFormOfEntity",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
   }
  }
 }
}