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  },
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    "unit": "iso4217:DKK"
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    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
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  },
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   "dimensions": {
    "concept": "ifrs-full:IssuedCapital",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
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    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
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   "dimensions": {
    "concept": "ifrs-full:IssuedCapital",
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    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
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  "fact1939": {
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   "decimals": -3,
   "dimensions": {
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    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
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   "decimals": -3,
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    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
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  },
  "fact1900": {
   "value": "2074000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Shorttermborrowingsfromcreditinstitutions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
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  },
  "fact1949": {
   "value": "1360133000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:CurrentDeferredConsideration",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1950": {
   "value": "1913000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Shorttermborrowingsfromcreditinstitutions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1890": {
   "value": "10434197000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:RetainedEarnings",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
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  },
  "fact1891": {
   "value": "188659000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherReserves",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
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  },
  "fact1940": {
   "value": "9330002000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:RetainedEarnings",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1941": {
   "value": "230489000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherReserves",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1901": {
   "value": "39470000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentLeaseLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1951": {
   "value": "44633000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentLeaseLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1952": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:CurrentAdvances",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
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  "fact1902": {
   "value": "131408000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentAdvances",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
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  "fact1903": {
   "value": "1045134000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1904": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1892": {
   "value": "11408561000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1942": {
   "value": "10339932000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1953": {
   "value": "954142000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1954": {
   "value": "7205000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1905": {
   "value": "497457000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1906": {
   "value": "2797008000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1955": {
   "value": "419843000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1956": {
   "value": "2787869000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CurrentLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1893": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:NonCurrentDeferredConsideration",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1894": {
   "value": "13053000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Longtermborrowingsfromcreditinstitutions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1895": {
   "value": "113589000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentProvisionsForEmployeeBenefits",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1896": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:DeferredTaxLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1943": {
   "value": "1016856000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:NonCurrentDeferredConsideration",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1944": {
   "value": "15135000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Longtermborrowingsfromcreditinstitutions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1945": {
   "value": "80732000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentProvisionsForEmployeeBenefits",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1907": {
   "value": "2997303000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Liabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1957": {
   "value": "4013281000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Liabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1946": {
   "value": "29068000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:DeferredTaxLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1908": {
   "value": "14405864000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:EquityAndLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1958": {
   "value": "14353213000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:EquityAndLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1897": {
   "value": "73653000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentLeaseLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1898": {
   "value": "200295000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1947": {
   "value": "83621000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentLeaseLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
  },
  "fact1948": {
   "value": "1225412000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:NoncurrentLiabilities",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:DKK"
   }
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  "fact8479": {
   "value": "<div class=\"stl_01\" style=\"left:55.748em;top:10.3843em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">The share capital comprises a total of 78,854,857 shares \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.2174em;\"><span class=\"stl_353 stl_15 stl_315\" style=\"word-spacing:-0.0194em;\">of DKK 10 as of December 31, 2024 (78,097,834 shares). \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.0505em;\"><span class=\"stl_353 stl_15 stl_288\" 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_353 stl_15 stl_75\" 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_352 stl_12 stl_275\" style=\"word-spacing:-0.0288em;\">Treasury shares \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:15.3836em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">In May 2024, the Board of Directors decided to launch \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.2168em;\"><span class=\"stl_353 stl_15 stl_51\" 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_353 stl_15 stl_44\" style=\"word-spacing:-0.0259em;\">bought back 162,288 of its own shares (43,954 shares \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.883em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">in 2023). 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_353 stl_15 stl_283\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">achieved bonus for 2023 for members of the Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:22.8818em;\"><span class=\"stl_353 stl_15 stl_146\" 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_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">a value corresponding to half of the achieved bonus. As \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:24.548em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">part of the long-term incentives Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:25.3811em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">are also granted performance restricted stock units. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:26.2143em;\"><span class=\"stl_353 stl_15 stl_35\" 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:27.0474em;\"><span class=\"stl_353 stl_15 stl_85\" 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:27.8805em;\"><span class=\"stl_353 stl_15 stl_37\" 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:28.7136em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Executive Management and the Company's share- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:29.5468em;\"><span class=\"stl_353 stl_15 stl_92\" 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:30.3799em;\"><span class=\"stl_353 stl_15 stl_55\" 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:31.213em;\"><span class=\"stl_353 stl_15 stl_33\" 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:32.0461em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">restricted stock units is also 3 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:33.713em;\"><span class=\"stl_353 stl_15 stl_226\" style=\"word-spacing:-0.0141em;\">Treasury shares represent 0.36% (0.16%) of the total \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:34.5461em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">share capital. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:36.213em;\"><span class=\"stl_353 stl_15 stl_289\" 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:37.0461em;\"><span class=\"stl_353 stl_15 stl_542\" style=\"word-spacing:-0.0008em;\">note 29. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:10.3843em;\"><span class=\"stl_353 stl_15 stl_192\" 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_353 stl_15 stl_182\" 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_353 stl_15 stl_288\" 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_353 stl_15 stl_75\" 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_352 stl_12 stl_223\" 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_15 stl_24\" 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_15 stl_33\" 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_15 stl_44\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact1959": {
   "value": "780978000.0",
   "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"
   }
  },
  "fact1960": {
   "value": "-1537000.0",
   "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"
   }
  },
  "fact1961": {
   "value": "9330002000.0",
   "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"
   }
  },
  "fact1962": {
   "value": "10932000.0",
   "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"
   }
  },
  "fact1963": {
   "value": "45887000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1964": {
   "value": "173670000.0",
   "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"
   }
  },
  "fact1965": {
   "value": "10339932000.0",
   "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"
   }
  },
  "fact1966": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1967": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1968": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1976": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1977": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1978": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1986": {
   "value": "987977000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1987": {
   "value": "-13219000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1988": {
   "value": "974758000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1996": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1997": {
   "value": "-8927000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1998": {
   "value": "-8927000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2006": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2007": {
   "value": "-75090000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2008": {
   "value": "-75090000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2016": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2017": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2018": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2026": {
   "value": "987977000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ProfitLoss",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2027": {
   "value": "-97236000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2028": {
   "value": "890741000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact8480": {
   "value": "<div class=\"stl_01\" style=\"left:55.748em;top:14.5449em;\"><span class=\"stl_352 stl_12 stl_275\" style=\"word-spacing:-0.0288em;\">Treasury shares \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:15.3836em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">In May 2024, the Board of Directors decided to launch \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.2168em;\"><span class=\"stl_353 stl_15 stl_51\" 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_353 stl_15 stl_44\" style=\"word-spacing:-0.0259em;\">bought back 162,288 of its own shares (43,954 shares \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.883em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">in 2023). 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_353 stl_15 stl_283\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">achieved bonus for 2023 for members of the Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:22.8818em;\"><span class=\"stl_353 stl_15 stl_146\" 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_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">a value corresponding to half of the achieved bonus. As \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:24.548em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">part of the long-term incentives Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:25.3811em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">are also granted performance restricted stock units. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:26.2143em;\"><span class=\"stl_353 stl_15 stl_35\" 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:27.0474em;\"><span class=\"stl_353 stl_15 stl_85\" 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:27.8805em;\"><span class=\"stl_353 stl_15 stl_37\" 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:28.7136em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Executive Management and the Company's share- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:29.5468em;\"><span class=\"stl_353 stl_15 stl_92\" 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:30.3799em;\"><span class=\"stl_353 stl_15 stl_55\" 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:31.213em;\"><span class=\"stl_353 stl_15 stl_33\" 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:32.0461em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">restricted stock units is also 3 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:33.713em;\"><span class=\"stl_353 stl_15 stl_226\" style=\"word-spacing:-0.0141em;\">Treasury shares represent 0.36% (0.16%) of the total \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:34.5461em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">share capital. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:36.213em;\"><span class=\"stl_353 stl_15 stl_289\" 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:37.0461em;\"><span class=\"stl_353 stl_15 stl_542\" style=\"word-spacing:-0.0008em;\">note 29. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:10.3843em;\"><span class=\"stl_353 stl_15 stl_192\" 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_353 stl_15 stl_182\" 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_353 stl_15 stl_288\" 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_353 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">share carries one vote. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact1969": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1979": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1989": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1990": {
   "value": "147806000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1991": {
   "value": "474000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1999": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2000": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2001": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2002": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2003": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2004": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2005": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2009": {
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   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
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    "unit": "iso4217:DKK"
   }
  },
  "fact2010": {
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   "decimals": 0,
   "dimensions": {
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    "entity": "scheme:2138006JCDVYIN6INP51",
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    "unit": "iso4217:DKK"
   }
  },
  "fact2011": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
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    "unit": "iso4217:DKK"
   }
  },
  "fact2012": {
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   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
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    "unit": "iso4217:DKK"
   }
  },
  "fact2013": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
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    "unit": "iso4217:DKK"
   }
  },
  "fact2014": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
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    "unit": "iso4217:DKK"
   }
  },
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   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
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   }
  },
  "fact2019": {
   "value": "78665000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
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    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2020": {
   "value": "-28582000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
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    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2021": {
   "value": "-474000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
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   }
  },
  "fact2022": {
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   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
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   }
  },
  "fact2029": {
   "value": "78665000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
    "entity": "scheme:2138006JCDVYIN6INP51",
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    "unit": "iso4217:DKK"
   }
  },
  "fact2030": {
   "value": "126794000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
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   }
  },
  "fact2031": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
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   }
  },
  "fact1970": {
   "value": "7570000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfWarrantsEquity",
    "entity": "scheme:2138006JCDVYIN6INP51",
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   }
  },
  "fact1980": {
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   "decimals": 0,
   "dimensions": {
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    "entity": "scheme:2138006JCDVYIN6INP51",
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    "unit": "iso4217:DKK"
   }
  },
  "fact1981": {
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   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
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    "unit": "iso4217:DKK"
   }
  },
  "fact1971": {
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   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughexpirationofwarrantsequity",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1972": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
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    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1982": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1992": {
   "value": "112000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2032": {
   "value": "112000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:ShareIssueRelatedCost",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
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    "unit": "iso4217:DKK"
   }
  },
  "fact1973": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
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    "unit": "iso4217:DKK"
   }
  },
  "fact1974": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1983": {
   "value": "1623000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1984": {
   "value": "317000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1993": {
   "value": "25836000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact1994": {
   "value": "7105000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "bava:Increasedecreasethroughsharebasedpaymenttransfers",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2023": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
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    "unit": "iso4217:DKK"
   }
  },
  "fact2033": {
   "value": "27459000.0",
   "decimals": -3,
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    "concept": "ifrs-full:PurchaseOfTreasuryShares",
    "entity": "scheme:2138006JCDVYIN6INP51",
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   }
  },
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    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:DKK"
   }
  },
  "fact2128": {
   "value": "-1537000.0",
   "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"
   }
  },
  "fact2129": {
   "value": "9330002000.0",
   "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"
   }
  },
  "fact2130": {
   "value": "10932000.0",
   "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"
   }
  },
  "fact2131": {
   "value": "45887000.0",
   "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"
   }
  },
  "fact2132": {
   "value": "173670000.0",
   "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"
   }
  },
  "fact2133": {
   "value": "10339932000.0",
   "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"
   }
  },
  "fact8482": {
   "value": "<div class=\"stl_01\" style=\"left:4.7275em;top:30.3186em;\"><span class=\"stl_352 stl_12 stl_422\" style=\"word-spacing:-0.0354em;\">Transactions on the share capital \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2846em;\"><span class=\"stl_269 stl_12 stl_430\" style=\"word-spacing:-0.0422em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0307em;top:31.2846em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5163em;top:31.2846em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.0025em;top:31.2846em;\"><span class=\"stl_269 stl_12 stl_361\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.5082em;top:31.2846em;\"><span class=\"stl_269 stl_12 stl_368\">2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9882em;top:31.2846em;\"><span class=\"stl_269 stl_12 stl_120\">2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.0564em;\"><span class=\"stl_277 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">Share capital as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3007em;top:33.0564em;\"><span class=\"stl_277 stl_15 stl_227\">780,978 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.8325em;top:33.0564em;\"><span class=\"stl_277 stl_15 stl_678\">707,354 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2369em;top:33.0564em;\"><span class=\"stl_277 stl_15 stl_234\">704,684 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7282em;top:33.0564em;\"><span class=\"stl_277 stl_15 stl_216\">584,501 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2432em;top:33.0564em;\"><span class=\"stl_277 stl_15 stl_175\">323,891 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.0196em;\"><span class=\"stl_277 stl_15 stl_65\" style=\"word-spacing:-0.0248em;\">Issue of new shares \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0038em;top:34.0196em;\"><span class=\"stl_277 stl_15 stl_356\">7,570 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.1194em;top:34.0196em;\"><span class=\"stl_277 stl_15 stl_492\">73,624 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.9332em;top:34.0196em;\"><span class=\"stl_277 stl_15 stl_361\">2,670 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8425em;top:34.0196em;\"><span class=\"stl_277 stl_15 stl_404\">120,183 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2807em;top:34.0196em;\"><span class=\"stl_277 stl_15 stl_119\">260,610 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.9771em;\"><span class=\"stl_269 stl_12 stl_54\" style=\"word-spacing:-0.0298em;\">Share capital as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0938em;top:34.9771em;\"><span class=\"stl_269 stl_12 stl_31\">788,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.6288em;top:34.9771em;\"><span class=\"stl_269 stl_12 stl_307\">780,978 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1519em;top:34.9771em;\"><span class=\"stl_269 stl_12 stl_368\">707,354 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5632em;top:34.9771em;\"><span class=\"stl_269 stl_12 stl_337\">704,684 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.0538em;top:34.9771em;\"><span class=\"stl_269 stl_12 stl_45\">584,501 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8486": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_307\" style=\"word-spacing:0.0033em;\">Note 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_114\" 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_352 stl_12 stl_165\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_69\" 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_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">Accounting Standards class D as adopted by the EU and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5089em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">Danish disclosure requirements for the consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.342em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">financial statements of listed companies. Danish disclo- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1751em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">sure requirements for the presentation of consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0083em;\"><span class=\"stl_353 stl_15 stl_146\" 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_353 stl_15 stl_284\" style=\"word-spacing:-0.0287em;\">Order on Adoption of the IFRS Accounting Standards \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6745em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">issued under the Danish Financial Statements Act. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3414em;\"><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">revised standards that were effective January 1, 2024. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.6745em;\"><span class=\"stl_353 stl_15 stl_67\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_140\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_288\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_67\" style=\"word-spacing:-0.0285em;\">statements comparative figures for 2023 are shown in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.0064em;\"><span class=\"stl_353 stl_15 stl_146\">brackets. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.1676em;\"><span class=\"stl_352 stl_12 stl_165\" 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_352 stl_12 stl_30\">interpretations \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8395em;\"><span class=\"stl_353 stl_15 stl_194\" 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_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">amended and revised accounting standards and inter- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5058em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">pretations issued by the IASB and the IFRS Accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3389em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">Standards endorsed by the European Union effective on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.172em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0295em;\">or after January 1, 2024. It is assessed that application \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.0051em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">of amendments effective from January 1, 2024 has not \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8383em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">had a material impact on the consolidated</span></div><div class=\"stl_01\" style=\"left:33.459em;top:16.8383em;\"><span class=\"stl_353 stl_15 stl_194\">financial \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.6714em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0311em;\">statements for 2024. Furthermore, Management does \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.5045em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">not anticipate any significant impact on future periods \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3376em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0345em;\">from the adoption of these amendments. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.0008em;\"><span class=\"stl_511 stl_512 stl_73\" style=\"word-spacing:-0.0275em;\">Standards and interpretations not yet in force \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8376em;\"><span class=\"stl_353 stl_15 stl_37\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_46\" 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_353 stl_15 stl_182\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_195\">ments. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.6701em;\"><span class=\"stl_353 stl_15 stl_285\" 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_353 stl_15 stl_278\" 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_353 stl_15 stl_16\" 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_352 stl_12 stl_446\" style=\"word-spacing:-0.0404em;\">Applying materiality \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.8364em;\"><span class=\"stl_353 stl_15 stl_288\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">The specific disclosures required by the IFRS Accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.0014em;\"><span class=\"stl_353 stl_15 stl_16\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_68\" 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_352 stl_12 stl_285\" style=\"word-spacing:-0.0325em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:15.1676em;\"><span class=\"stl_353 stl_15 stl_183\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_68\" 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_352 stl_12 stl_91\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_25\" style=\"word-spacing:-0.0313em;\">economic benefit will flow to or from the Group and the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:24.3326em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">value can be reliably measured. On initial recognition, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:25.1658em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">assets and liabilities are measured at cost, except for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:25.9989em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">financial instruments, which are measured at fair value. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:26.832em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">Subsequently, assets and liabilities are measured as \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.6651em;\"><span class=\"stl_353 stl_15 stl_283\" 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:28.4983em;\"><span class=\"stl_353 stl_15 stl_54\" 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:30.1595em;\"><span class=\"stl_352 stl_12 stl_289\" style=\"word-spacing:-0.0346em;\">Basis of consolidation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:30.9983em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">The consolidated financial statements include Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:31.8314em;\"><span class=\"stl_353 stl_15 stl_285\" 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:32.6645em;\"><span class=\"stl_353 stl_15 stl_283\" 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:33.4976em;\"><span class=\"stl_353 stl_15 stl_56\" style=\"word-spacing:-0.0244em;\">has control. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:35.1589em;\"><span class=\"stl_352 stl_12 stl_473\" style=\"word-spacing:-0.0357em;\">Principles of consolidation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:35.9976em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0295em;\">The consolidated financial statements are prepared \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:36.8308em;\"><span class=\"stl_353 stl_15 stl_274\" 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:37.6639em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">company and the individual subsidiaries, and these are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:10.1639em;\"><span class=\"stl_353 stl_15 stl_188\" style=\"word-spacing:-0.0218em;\">prepared in accordance with the Group\u2019s accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:10.997em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">policies and for the same accounting period. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:12.6639em;\"><span class=\"stl_353 stl_15 stl_30\" 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:13.497em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0305em;\">intra-group profits, receivables and payables are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:14.3301em;\"><span class=\"stl_353 stl_15 stl_54\" 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:15.1633em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0305em;\">consolidated financial statements, the book value of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:15.9964em;\"><span class=\"stl_353 stl_15 stl_37\" 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:16.8295em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0343em;\">off against the equity of the subsidiaries. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:18.4908em;\"><span class=\"stl_352 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">Foreign currency translation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:19.3295em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">On initial recognition, transactions denominated in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:20.1626em;\"><span class=\"stl_353 stl_15 stl_183\" 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:20.9958em;\"><span class=\"stl_353 stl_15 stl_66\" 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:21.8289em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0287em;\">action date. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:23.4958em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">Receivables, payables and other monetary items \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:24.3289em;\"><span class=\"stl_353 stl_15 stl_37\" 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:25.162em;\"><span class=\"stl_353 stl_15 stl_69\" 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:25.9951em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">exchange rates at the balance sheet date. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:27.662em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">Exchange differences between the exchange rate at \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:28.4951em;\"><span class=\"stl_353 stl_15 stl_278\" 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:29.3283em;\"><span class=\"stl_353 stl_15 stl_140\" 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:30.1614em;\"><span class=\"stl_353 stl_15 stl_53\" 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:30.9945em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">financials. Property, plant and equipment and intan- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:31.8276em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0327em;\">gible assets, inventories and other nonmonetary assets \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:32.6608em;\"><span class=\"stl_353 stl_15 stl_41\" 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:33.4939em;\"><span class=\"stl_353 stl_15 stl_73\" 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:34.327em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">the transaction date. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:35.9939em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">On recognition in the consolidated financial state- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:36.827em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">ments of subsidiaries whose financial statements are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:37.6601em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">presented in a functional currency other than Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.1764em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">kroner (DKK), the income statements are translated at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.0095em;\"><span class=\"stl_353 stl_15 stl_183\" 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:12.6764em;\"><span class=\"stl_353 stl_15 stl_37\" 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:13.5095em;\"><span class=\"stl_353 stl_15 stl_73\" 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:14.3426em;\"><span class=\"stl_353 stl_15 stl_54\" 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:15.1758em;\"><span class=\"stl_353 stl_15 stl_67\" 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:16.0089em;\"><span class=\"stl_353 stl_15 stl_54\" 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:16.842em;\"><span class=\"stl_353 stl_15 stl_190\" 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:17.6751em;\"><span class=\"stl_353 stl_15 stl_275\" 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:18.5083em;\"><span class=\"stl_353 stl_15 stl_189\" style=\"word-spacing:-0.0249em;\">sheet date are recognized as other comprehensive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3414em;\"><span class=\"stl_353 stl_15 stl_68\">income. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0026em;\"><span class=\"stl_352 stl_12 stl_89\" style=\"word-spacing:-0.0383em;\">Segment reporting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8414em;\"><span class=\"stl_353 stl_15 stl_183\" 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:22.6745em;\"><span class=\"stl_353 stl_15 stl_91\" 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:23.5076em;\"><span class=\"stl_353 stl_15 stl_180\">externally. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.1745em;\"><span class=\"stl_353 stl_15 stl_193\" 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:26.0076em;\"><span class=\"stl_353 stl_15 stl_284\" 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:26.8408em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">financial statements. Geographic location of noncurrent \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.6739em;\"><span class=\"stl_353 stl_15 stl_288\" 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:28.507em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">financial statements. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.1683em;\"><span class=\"stl_352 stl_12 stl_51\" style=\"word-spacing:-0.032em;\">Cash flow statement \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.007em;\"><span class=\"stl_353 stl_15 stl_48\" 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:31.8401em;\"><span class=\"stl_353 stl_15 stl_28\" 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:32.6733em;\"><span class=\"stl_353 stl_15 stl_279\" 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:33.5064em;\"><span class=\"stl_353 stl_15 stl_67\" 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:34.3395em;\"><span class=\"stl_353 stl_15 stl_283\" 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:35.1726em;\"><span class=\"stl_353 stl_15 stl_285\" 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:36.0058em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">Group\u2019s cash and cash equivalents. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.1726em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0274em;\">Cash flows in foreign currencies are translated into \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0058em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">Danish kroner (DKK) at the exchange rate on the trans- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8389em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0287em;\">action date. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5058em;\"><span class=\"stl_353 stl_15 stl_16\" 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:14.3389em;\"><span class=\"stl_353 stl_15 stl_54\" 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:15.172em;\"><span class=\"stl_353 stl_15 stl_473\" style=\"word-spacing:-0.0359em;\">changes in working capital. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8389em;\"><span class=\"stl_353 stl_15 stl_146\" 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:17.672em;\"><span class=\"stl_353 stl_15 stl_194\" 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:18.5051em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">erty, plant and equipment, investments and securities. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3383em;\"><span class=\"stl_353 stl_15 stl_30\" 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:20.1714em;\"><span class=\"stl_353 stl_15 stl_51\" 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:21.0045em;\"><span class=\"stl_353 stl_15 stl_37\">increases. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.6714em;\"><span class=\"stl_353 stl_15 stl_284\" 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:23.5045em;\"><span class=\"stl_353 stl_15 stl_44\" 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:25.1658em;\"><span class=\"stl_352 stl_12 stl_13\" style=\"word-spacing:-0.0395em;\">Reporting under the ESEF Regulation \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.0045em;\"><span class=\"stl_353 stl_15 stl_44\" 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:26.8376em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0297em;\">the European Single Electronic Format (ESEF Regulation) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.6708em;\"><span class=\"stl_353 stl_15 stl_433\" 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:28.5039em;\"><span class=\"stl_353 stl_15 stl_285\" 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:29.337em;\"><span class=\"stl_353 stl_15 stl_47\" 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:30.1701em;\"><span class=\"stl_353 stl_15 stl_25\" 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:31.0033em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">iXBRL tagging of the consolidated financial statements \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.8364em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">including notes. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.5033em;\"><span class=\"stl_353 stl_15 stl_285\" 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:34.3364em;\"><span class=\"stl_353 stl_15 stl_30\" 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:35.1695em;\"><span class=\"stl_353 stl_15 stl_422\" 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:36.0026em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Accounting Standards taxonomy published by the IFRS \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.8358em;\"><span class=\"stl_353 stl_15 stl_433\">Foundation. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.3351em;\"><span class=\"stl_352 stl_12 stl_283\" style=\"word-spacing:-0.0322em;\">Net asset value per share: \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6627em;top:25.1739em;\"><span class=\"stl_353 stl_15 stl_377\">Equity \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.1251em;\"><span class=\"stl_353 stl_15 stl_182\" style=\"word-spacing:-0.0232em;\">Number of shares at year-end \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.7864em;\"><span class=\"stl_352 stl_12 stl_193\" style=\"word-spacing:-0.0304em;\">Share price/Net asset value per share: \u00a0</span></div><div class=\"stl_01\" style=\"left:39.1358em;top:28.6251em;\"><span class=\"stl_353 stl_15 stl_243\" style=\"word-spacing:-0.026em;\">Market price per share \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.5764em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">Net asset value per share \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.2376em;\"><span class=\"stl_352 stl_12 stl_96\" style=\"word-spacing:-0.0347em;\">Equity share, %: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:32.0764em;\"><span class=\"stl_353 stl_15 stl_22\" style=\"word-spacing:-0.0374em;\">Equity x 100 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7595em;top:33.0276em;\"><span class=\"stl_353 stl_15 stl_46\" style=\"word-spacing:-0.023em;\">Total assets \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:34.6945em;\"><span class=\"stl_353 stl_15 stl_16\" 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:35.5276em;\"><span class=\"stl_353 stl_15 stl_41\" 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:36.3608em;\"><span class=\"stl_353 stl_15 stl_69\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.0753em;\"><span class=\"stl_352 stl_12 stl_390\" 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_353 stl_15 stl_284\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_378\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">Bavarian Nordic also records estimates for a variety \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.2453em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0337em;\">of sales deductions, including product returns as well \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.0784em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0283em;\">as rebates and discounts to government agencies, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.9115em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0323em;\">wholesalers, health insurance companies, managed \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.7447em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0313em;\">healthcare organizations and retail customers. These \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.5778em;z-index:2743;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">sales deductions are recognized as \"Gross to net dedu</span><span class=\"stl_353 stl_15 stl_684\">c</span><span class=\"stl_353 stl_15 stl_684\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.4109em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">tion\" under other liabilities. Revenue is measured net \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.244em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">of value added tax, duties, etc. collected on behalf of a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.0772em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">third party. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.744em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">Where contracts contain customer acceptance criteria, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.5772em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">Bavarian Nordic recognizes sales when the acceptance \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.4103em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">criteria are satisfied. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.0772em;\"><span class=\"stl_353 stl_15 stl_283\" 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:31.9103em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0267em;\">different kind of rebates are described below. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.5734em;\"><span class=\"stl_511 stl_512 stl_290\" style=\"word-spacing:-0.0333em;\">Pricing mechanisms in the US market \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:34.4103em;\"><span class=\"stl_353 stl_15 stl_41\" 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:35.2434em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0299em;\">government and commercial programmes. Key \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.0765em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">customers in the US include private payers, Group \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.9097em;\"><span class=\"stl_353 stl_15 stl_44\" style=\"word-spacing:-0.0258em;\">Purchasing Organizations (GPOs) and government \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:37.7428em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">payers. GPOs play a role in negotiating price conces- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:11.0759em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">sions with drug manufacturers for the commercial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:11.909em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0313em;\">channels, and determine which drugs are offered as \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:12.7422em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">preferred options on their drug lists. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:14.4053em;\"><span class=\"stl_511 stl_512 stl_41\" style=\"word-spacing:-0.0306em;\">US Medicaid &amp; Medicare rebates \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:15.2422em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">Medicaid &amp; Medicare are government insurance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:16.0753em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">programmes. Medicaid and Medicare rebates have \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:16.9084em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">been estimated using a combination of historical expe- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:17.7415em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">rience, product and population growth, price increases, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:18.5747em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0347em;\">and the impact of contracting strategies. The calcula- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:19.4078em;\"><span class=\"stl_353 stl_15 stl_48\" style=\"word-spacing:-0.0261em;\">tion also involves interpretation of relevant regulations \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:20.2409em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">that are subject to changes in interpretative guidance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:21.074em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">from government authorities. Bavarian Nordic adjusts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:21.9072em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0319em;\">the provision periodically to reflect actual sales perfor- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:22.7403em;\"><span class=\"stl_353 stl_15 stl_182\">mance. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:24.4034em;\"><span class=\"stl_511 stl_512 stl_74\" style=\"word-spacing:-0.036em;\">Wholesaler charge-backs \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:25.2403em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">Wholesaler charge-backs relate to contractual arrange- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:26.0734em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0347em;\">ments between Bavarian Nordic and indirect customers \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:26.9065em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">whereby products are sold at contract prices lower \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:27.7397em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">than the list price originally charged to wholesalers. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:28.5728em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">A wholesaler charge-back represents the difference \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:29.4059em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">between the invoice price to the wholesaler and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:30.239em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">indirect customer\u2019s contract price. Accruals are calcu- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:31.0722em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">lated for estimated charge-backs using a combination \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:31.9053em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0325em;\">of factors such as historical experience, current whole- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:32.7384em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">saler inventory levels, contract terms and the value of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:33.5715em;\"><span class=\"stl_353 stl_15 stl_53\" style=\"word-spacing:-0.0253em;\">claims received but not yet processed. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:35.2347em;\"><span class=\"stl_511 stl_512 stl_194\" style=\"word-spacing:-0.0327em;\">Other discounts and sales returns \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:36.0715em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">Other discounts are provided to wholesalers, hospi- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:36.9047em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">tals, pharmacies, etc. They are usually linked to sales \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:37.7378em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">volume or provided as cash discounts. Accruals are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.5858em;\"><span class=\"stl_353 stl_15 stl_54\" 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:12.419em;\"><span class=\"stl_353 stl_15 stl_25\" 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:13.2521em;\"><span class=\"stl_353 stl_15 stl_288\" 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:14.0852em;\"><span class=\"stl_353 stl_15 stl_95\" style=\"word-spacing:-0.037em;\">expired products. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.7465em;\"><span class=\"stl_352 stl_12 stl_378\" style=\"word-spacing:-0.0356em;\">Sale of services and licenses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.5852em;\"><span class=\"stl_353 stl_15 stl_25\" 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:17.4183em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">consideration received or receivable for income derived \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.2515em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">from development services where revenue is measured \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.0846em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">at the expected net sales price. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.7515em;\"><span class=\"stl_353 stl_15 stl_183\" 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:21.5846em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">ownership of intellectual property are recognized at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.4177em;\"><span class=\"stl_353 stl_15 stl_288\" 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:23.2508em;\"><span class=\"stl_353 stl_15 stl_183\" 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:24.084em;\"><span class=\"stl_353 stl_15 stl_283\" 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:24.9171em;\"><span class=\"stl_353 stl_15 stl_284\" 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:25.7502em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.035em;\">delivery of the work. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.4171em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">Agreements with commercial partners generally \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.2502em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">include non-refundable upfront license and collabora- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.0833em;\"><span class=\"stl_353 stl_15 stl_275\" 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:11.5833em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">dependent upon the achievement of certain clinical, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.4165em;\"><span class=\"stl_353 stl_15 stl_68\" 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:13.2496em;\"><span class=\"stl_353 stl_15 stl_165\" 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:14.0827em;\"><span class=\"stl_353 stl_15 stl_68\" 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:14.9158em;\"><span class=\"stl_353 stl_15 stl_91\" 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:15.749em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">elements, total contract consideration is attributed to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.5821em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">separately identifiable components on a reliable basis \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.4152em;\"><span class=\"stl_353 stl_15 stl_190\" 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:18.2483em;\"><span class=\"stl_353 stl_15 stl_473\" 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:19.0815em;\"><span class=\"stl_353 stl_15 stl_92\" 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:19.9146em;\"><span class=\"stl_353 stl_15 stl_41\" 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:20.7477em;\"><span class=\"stl_353 stl_15 stl_181\" 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:21.5808em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">described above. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_180\" 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_353 stl_15 stl_164\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_289\" 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_353 stl_15 stl_96\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">are recognized. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_290\" 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_353 stl_15 stl_458\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_24\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_165\" 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_353 stl_15 stl_285\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_194\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_284\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_243\" 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_353 stl_15 stl_30\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">ment costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_353 stl_15 stl_274\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_30\" 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_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">transferred under \"Contract costs recognized as produ</span><span class=\"stl_353 stl_15 stl_574\">c</span><span class=\"stl_353 stl_15 stl_574\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3681em;\"><span class=\"stl_353 stl_15 stl_55\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">final and binding right to the grant has been obtained. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Administrative costs include costs of Group Manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">ment, staff functions, administrative personnel, office \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">costs, rent, short-term lease payments and depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">not relating specifically to production, research and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_96\" 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_23 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">Interest income is recognized in the income state- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">ment at the amounts relating to the financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Financial income also includes net positive value \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">adjustments of financial instruments and securities, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">adjustment of the net present value of provisions \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">and net currency gains. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_23 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">Interest expenses are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">statement at the amounts relating to the financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">year. Financial expenses also include adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">of net present value of the deferred consideration, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">cf. note 24, negative value adjustments of financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">instruments and securities and net currency losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_23 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_146\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_67\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0381em;\"><span class=\"stl_353 stl_15 stl_68\" 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_353 stl_15 stl_165\" 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_353 stl_15 stl_44\" style=\"word-spacing:-0.0257em;\">vant items. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3712em;\"><span class=\"stl_353 stl_15 stl_73\" 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_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">sheet under current assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.8712em;\"><span class=\"stl_353 stl_15 stl_284\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_96\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_73\" 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_353 stl_15 stl_378\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_165\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_75\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">foreseeable future. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5349em;\"><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_92\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_54\" 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_353 stl_15 stl_243\" 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_353 stl_15 stl_35\" 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_353 stl_15 stl_69\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_283\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Intangible assets are measured at historic cost less \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">accumulated amortization and impairment losses. Cost \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0296em;\">of acquired product rights are measured at cash consid- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">eration and present value of any deferred payments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0333em;\">for those rights. Furthermore costs of acquired product \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0357em;\">rights include transaction costs that are directly attrib- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.2043em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">utable to the acqusition. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.8712em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Internal development projects that meet the require- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.7043em;\"><span class=\"stl_353 stl_15 stl_190\" 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:19.5374em;\"><span class=\"stl_353 stl_15 stl_183\" 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:21.2043em;\"><span class=\"stl_353 stl_15 stl_274\" 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:22.0374em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">the useful economic lives of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.7043em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">The useful lives of acquired product rights are esti- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:24.5374em;\"><span class=\"stl_353 stl_15 stl_61\" style=\"word-spacing:-0.024em;\">mated to be 10-20 years and software is estimated to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.3706em;\"><span class=\"stl_353 stl_15 stl_243\" style=\"word-spacing:-0.026em;\">be 3-5 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.0374em;\"><span class=\"stl_353 stl_15 stl_433\" 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:27.8706em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">part of cost of goods sold under production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:11.1999em;\"><span class=\"stl_511 stl_512 stl_39\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.0368em;\"><span class=\"stl_353 stl_15 stl_164\" style=\"word-spacing:-0.0364em;\">The carrying amounts of intangible assets carried at \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.8699em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">cost or amortized cost are tested at least annually to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:13.7031em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0279em;\">determine whether there are indications of any impair- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:14.5362em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">ment in excess of that expressed in normal amortiza- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:15.3693em;\"><span class=\"stl_353 stl_15 stl_275\" 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:21.7221em;top:16.2024em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0335em;\">recoverable amount, which is the higher of its fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:17.0356em;\"><span class=\"stl_353 stl_15 stl_285\" 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:21.7221em;top:17.8687em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0333em;\">on intangible assets are recognized under the same \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:18.7018em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">line item as amortization of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:20.3687em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">For development projects in progress, the recoverable \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:21.2018em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">amount is assessed annually, regardless of whether any \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:22.0349em;\"><span class=\"stl_353 stl_15 stl_278\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_21\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_391\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">impairment losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_353 stl_15 stl_433\" 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_353 stl_15 stl_75\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_91\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_67\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5374em;\"><span class=\"stl_353 stl_15 stl_85\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_73\" 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_353 stl_15 stl_195\">Buildings \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9169em;top:11.2031em;\"><span class=\"stl_353 stl_15 stl_535\" 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_353 stl_15 stl_283\">Installations \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2975em;top:12.0362em;\"><span class=\"stl_353 stl_15 stl_690\" 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_353 stl_15 stl_288\" style=\"word-spacing:-0.0281em;\">Leasehold improvements \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0544em;top:12.8693em;\"><span class=\"stl_353 stl_15 stl_31\" style=\"word-spacing:-0.021em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7024em;\"><span class=\"stl_353 stl_15 stl_378\" 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_353 stl_15 stl_140\" 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_353 stl_15 stl_93\" style=\"word-spacing:-0.0389em;\">Laboratory equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2613em;top:14.5356em;\"><span class=\"stl_353 stl_15 stl_402\" 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_353 stl_15 stl_391\" style=\"word-spacing:-0.0368em;\">Production equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2988em;top:15.3687em;\"><span class=\"stl_353 stl_15 stl_690\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_62\" style=\"word-spacing:-0.0226em;\">each financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3649em;\"><span class=\"stl_511 stl_512 stl_39\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.2018em;\"><span class=\"stl_353 stl_15 stl_458\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_16\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_288\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_189\">of-use-assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7049em;\"><span class=\"stl_353 stl_15 stl_275\" 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:19.5381em;\"><span class=\"stl_353 stl_15 stl_183\" 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:20.3712em;\"><span class=\"stl_353 stl_15 stl_37\" 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:21.2043em;\"><span class=\"stl_353 stl_15 stl_61\">lease. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8712em;\"><span class=\"stl_353 stl_15 stl_179\" 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:23.7043em;\"><span class=\"stl_353 stl_15 stl_278\" 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:24.5374em;\"><span class=\"stl_353 stl_15 stl_288\" 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:25.3706em;\"><span class=\"stl_353 stl_15 stl_194\" 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:26.2037em;\"><span class=\"stl_353 stl_15 stl_47\" 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:27.0368em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">ably certain. When determining the discount rates \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8699em;\"><span class=\"stl_353 stl_15 stl_37\" 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:28.7031em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0333em;\">payments, an incremental country specific borrowing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5362em;\"><span class=\"stl_353 stl_15 stl_25\" 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:30.3693em;\"><span class=\"stl_353 stl_15 stl_62\" style=\"word-spacing:-0.0229em;\">Group\u2019s credit margin, ranging from 4.8% to 6.93%. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2024em;\"><span class=\"stl_353 stl_15 stl_41\" 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:32.0356em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0321em;\">assets with reasonable similar characteristics. Initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.8687em;\"><span class=\"stl_353 stl_15 stl_190\" 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:33.7018em;\"><span class=\"stl_353 stl_15 stl_37\" 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:34.5349em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">separated from lease components. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2018em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">A maturity analysis for lease payments is described \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0349em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">in note 22. Impact from change in lease terms, lease \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8681em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">payments or modification of the lease contract is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7012em;z-index:2792;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0289em;\">further described in note 27. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3681em;\"><span class=\"stl_353 stl_15 stl_53\" 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:16.2012em;\"><span class=\"stl_353 stl_15 stl_146\" 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:17.0343em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">asset. The depreciation starts at the commencement \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8674em;\"><span class=\"stl_353 stl_15 stl_54\" 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:18.7006em;\"><span class=\"stl_353 stl_15 stl_37\" 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:19.5337em;\"><span class=\"stl_353 stl_15 stl_278\" 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:20.3668em;\"><span class=\"stl_353 stl_15 stl_62\" style=\"word-spacing:-0.023em;\">in note 15. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_179\" style=\"word-spacing:-0.0245em;\">Inventories are measured at the lower of cost less \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">write-downs for obsolescence and net realisable value. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0305em;\">The net realisable value is the estimated sales price in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">the ordinary course of business less relevant sales costs \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">determined on the basis of marketability, obsolescence \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">and changes in the expected sales price. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0381em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0265em;\">Raw materials are measured at cost based on the FIFO \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">method. For raw materials, cost is determined as direct \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">acquisition costs incurred. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3712em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">The cost of work in progress and finished goods \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2043em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">produced in-house are measured at standard cost and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0374em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">includes raw materials, consumables, external manu- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8706em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">facturing services and direct payroll costs plus allocated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7037em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">indirect costs of production (production overheads). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3706em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">Indirect costs of production include indirect materials \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2037em;\"><span class=\"stl_353 stl_15 stl_284\" 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:27.0368em;\"><span class=\"stl_353 stl_15 stl_392\" 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:27.8699em;\"><span class=\"stl_353 stl_15 stl_422\" 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:28.7031em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.0339em;\">administration and management. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_35\" 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_353 stl_15 stl_282\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_195\" 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_353 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Loss allowance is calculated using the \u2018full lifetime \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.6937em;\"><span class=\"stl_353 stl_15 stl_51\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_69\" 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_353 stl_15 stl_66\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_35\" 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_353 stl_15 stl_282\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">of loss. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2049em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">Derivative financial instruments are measured at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0381em;\"><span class=\"stl_353 stl_15 stl_30\">value. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_41\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_69\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_53\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">Derivative financial instruments are measured at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_30\">value. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7056em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">Other financial liabilities are measured at initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5387em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">recognition at fair value less any transaction costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3718em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">Subsequent other financial liabilities are measured at \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2049em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0305em;\">amortized cost using the effective interest method, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0381em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">whereby the difference between proceeds and the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8712em;\"><span class=\"stl_353 stl_15 stl_54\" 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:13.7043em;\"><span class=\"stl_353 stl_15 stl_287\" 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:14.5374em;\"><span class=\"stl_353 stl_15 stl_24\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.1999em;\"><span class=\"stl_352 stl_12 stl_22\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_284\" 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:14.5387em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">Directly attributable costs related to the purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3718em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">or issuance of the individual financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_353 stl_15 stl_54\" 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:17.0381em;\"><span class=\"stl_353 stl_15 stl_25\" 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:17.8712em;\"><span class=\"stl_353 stl_15 stl_68\" 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:18.7043em;\"><span class=\"stl_353 stl_15 stl_433\" 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:19.5374em;\"><span class=\"stl_353 stl_15 stl_48\" 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:20.3706em;\"><span class=\"stl_353 stl_15 stl_275\" 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:21.2037em;\"><span class=\"stl_353 stl_15 stl_32\" 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:22.0368em;\"><span class=\"stl_353 stl_15 stl_24\" 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:22.8699em;\"><span class=\"stl_353 stl_15 stl_285\">ment. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5368em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">The Company has designated certain derivative finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3699em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">cial instruments as cash flow hedges as defined under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2031em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">IFRS 9 \"Financial Instruments\". Hedge accounting is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0362em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">classified as a cash flow hedge when the hedges of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8693em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">a particular risk is associated with the cash flows of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7024em;\"><span class=\"stl_353 stl_15 stl_422\" style=\"word-spacing:-0.0355em;\">highly probable forecast transactions. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3693em;\"><span class=\"stl_353 stl_15 stl_21\" 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:31.2024em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">ments designated as and qualifying for recognition \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.0356em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">as effective hedges of future transactions (cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2024em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0262em;\">hedges) are recognized as comprehensive income. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0356em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">The ineffective portion is recognized immediately in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8687em;\"><span class=\"stl_353 stl_15 stl_74\" style=\"word-spacing:-0.036em;\">the income statement. When the hedged transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7018em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">are realized, cumulative changes are recognized in the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5349em;z-index:2515;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0333em;\">income statement together with the hedged transa</span><span class=\"stl_353 stl_15 stl_574\">c</span><span class=\"stl_353 stl_15 stl_574\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3681em;\"><span class=\"stl_353 stl_15 stl_51\" 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:21.7325em;top:16.2012em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0345em;\">cost of the transactions in question. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8681em;\"><span class=\"stl_353 stl_15 stl_290\" 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:18.7012em;\"><span class=\"stl_353 stl_15 stl_85\" 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:19.5343em;\"><span class=\"stl_353 stl_15 stl_183\" 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:20.3674em;\"><span class=\"stl_353 stl_15 stl_699\">occur. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.0287em;\"><span class=\"stl_352 stl_12 stl_458\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8674em;\"><span class=\"stl_353 stl_15 stl_55\" 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:23.7006em;\"><span class=\"stl_353 stl_15 stl_16\" 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:24.5337em;\"><span class=\"stl_353 stl_15 stl_288\" 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:25.3668em;\"><span class=\"stl_353 stl_15 stl_35\" 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:26.1999em;\"><span class=\"stl_353 stl_15 stl_35\" 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:27.033em;\"><span class=\"stl_353 stl_15 stl_68\" 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:27.8662em;\"><span class=\"stl_353 stl_15 stl_190\" 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:28.6993em;\"><span class=\"stl_353 stl_15 stl_61\">policy. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3662em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">Both realized and unrealized value adjustments are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.1993em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">recognized in the income statement under financials. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0015em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">Deferred consideration including contingent milestone \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">payments is recognized when its payment is probable \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_275\" 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:38.7297em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">nition measured at fair value which equals the present \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">value of future deferred payments. Subsequently, the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">deferred consideration is measured at amortized cost. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:16.2043em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0287em;\">This means that the difference between the present \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:17.0374em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">value of the consideration and the nominal amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:11.2043em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">due is recognized in the income statement as a finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:12.0374em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">cial expense over the period until expected payment \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:12.8706em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">date using the effective interest method. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:14.5374em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0333em;\">The expected phasing of future payments and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:15.3706em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">probability of contingent payments are assessed on \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:16.2037em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">each reporting date and the impact is recognized as a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:17.0368em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">financial item. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0015em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0283em;\">Loans are measured at the time of borrowing at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">value less any transaction costs. Subsequently, debt is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">measured at amortized cost. This means that the differ- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">ence between the proceeds of the loan and the amount \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7429em;top:11.2049em;\"><span class=\"stl_353 stl_15 stl_243\" style=\"word-spacing:-0.026em;\">to be repaid is recognized in the income statement over \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7429em;top:12.0381em;\"><span class=\"stl_353 stl_15 stl_285\" 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:55.7429em;top:12.8712em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">effective interest method. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">In defined contribution plans, the Group makes regular \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">payments of fixed contributions to independent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">pension funds and insurance companies. The Group \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">is under no obligation to pay additional contributions. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Costs for defined contribution plans are recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">the income statement as the Group assumes an obliga- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.2043em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0277em;\">tion to make the payment. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8712em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">In defined benefit plans, the Group is under an obliga- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7043em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">tion to pay a defined benefit on retirement. The actuar- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.5374em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">ially calculated present value less the fair value of any \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3706em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">plan assets is recognised in the balance sheet under \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.2037em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">retirement benefit obligations. The total service costs \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.0368em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">of the year plus calculated interest based on actuarial \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.8699em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">estimates and financial assumptions at the beginning \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.7031em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">of the year are recognized in the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.5362em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">The difference between the forecast development in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.3693em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">plan assets and liabilities and the realized values at \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2024em;\"><span class=\"stl_353 stl_15 stl_51\" 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:38.7402em;top:27.0356em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">and is recognized in other comprehensive income. In \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.8687em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0344em;\">connection with a change in benefits regarding the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.7018em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">employees\u2019 employment with the Group to date, there \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.5349em;\"><span class=\"stl_353 stl_15 stl_290\" 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:38.7402em;top:30.3681em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">present value, which is taken directly to the income \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.2012em;\"><span class=\"stl_353 stl_15 stl_67\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.1956em;\"><span class=\"stl_352 stl_12 stl_164\" style=\"word-spacing:-0.0365em;\">Defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0343em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">The Group offers pension plans to all employees in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8674em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">Denmark and abroad. Most of the pension plans are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7006em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.0349em;\">defined contribution plans, expect for the pension plan \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5337em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">in Bavarian Nordic Berna GmbH, see below. The Group \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3668em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">funds the plans through regular payments of premiums \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.1999em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">to independent insurance companies responsible for \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0331em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">the pension obligations towards the beneficiaries. Once \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.8662em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">the pension contributions for defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.6993em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">have been made, the Group has no further obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.5324em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.028em;\">towards current or former employees. Contributions to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3656em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">defined contribution plans are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.1987em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">statement when paid. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8599em;\"><span class=\"stl_352 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.6987em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">The pension plan in Bavarian Nordic Berna GmbH is \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5318em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">part of a collective foundation in which other plans \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3649em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">of non-related employers also participate, and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.1981em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">different plans all participate in the various risks \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.0312em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">relating to the foundation. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:28.6981em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Defined benefit liabilities are recognized in the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:29.5312em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">sheet and in the income statement as indicated below. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.1981em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Employees from Bavarian Nordic Switzerland AG have \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.0312em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">been transferred to Bavarian Nordic Berna GmbH in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.8643em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">August 2024 and are included in the new pension plan \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:33.6974em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">as from December 31, 2024. The previous pension plan \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:34.5306em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">in Bavarian Nordic Switzerland AG was recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:35.3637em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">a contribution benefit plan and therefore no pension \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.1968em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">obligation was recognized. The net assets under the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:37.0299em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Bavarian Nordic Berna GmbH pension plan have been \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:37.8631em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">adjusted to include the transferred employees. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_275\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_67\" style=\"word-spacing:-0.0285em;\">borrowing rate ranging from 4.8% to 6.93% applying \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_146\" 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_353 stl_15 stl_285\" style=\"word-spacing:-0.0325em;\">with reasonable similar characteristics. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.6768em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">The lease liability is subsequently measured by \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.5099em;\"><span class=\"stl_353 stl_15 stl_92\" 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:18.3431em;\"><span class=\"stl_353 stl_15 stl_193\" 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:19.1762em;\"><span class=\"stl_353 stl_15 stl_165\" 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:20.0093em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">lease payments made. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.3149em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">The lease liability is remeasured and corresponding \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.1481em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0251em;\">adjustments are made to the related right-of-use-asset \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.9812em;\"><span class=\"stl_353 stl_15 stl_52\">whenever: \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2031em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:11.2031em;\"><span class=\"stl_353 stl_15 stl_25\" 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:12.0362em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">liability is remeasured by discounting the revised \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:12.8693em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">lease payments using a revised discount rate. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.1749em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:14.1749em;\"><span class=\"stl_353 stl_15 stl_287\" 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:15.0081em;\"><span class=\"stl_353 stl_15 stl_55\" 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:15.8412em;\"><span class=\"stl_353 stl_15 stl_53\" style=\"word-spacing:-0.0254em;\">is remeasured by discounting the revised lease \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:16.6743em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">payments using an unchanged discount rate. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.9799em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:17.9799em;\"><span class=\"stl_353 stl_15 stl_285\" 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:18.8131em;\"><span class=\"stl_353 stl_15 stl_53\" 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:19.6462em;\"><span class=\"stl_353 stl_15 stl_16\" 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:20.4793em;\"><span class=\"stl_353 stl_15 stl_275\" 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:21.3124em;\"><span class=\"stl_353 stl_15 stl_47\" 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:22.1456em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">rate at the effective date of the modification. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">Prepayments are recognized under liabilities and will \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">be recognized in the income statement as the delivery \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_193\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_68\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_24\" 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_353 stl_15 stl_69\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_16\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">Restricted stock units and performance restricted stock \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_353 stl_15 stl_288\" 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:20.3712em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">For Executive Management cash bonus converted to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2043em;\"><span class=\"stl_353 stl_15 stl_85\" 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:22.0374em;\"><span class=\"stl_353 stl_15 stl_193\" 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:22.8706em;\"><span class=\"stl_353 stl_15 stl_183\" 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:23.7037em;\"><span class=\"stl_353 stl_15 stl_25\" 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:24.5368em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0327em;\">and expensed in the income statement, the grant \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3699em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">of restricted stock units has no additional impact on \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2031em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">the income statement. The accrued liability for the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0362em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">converted cash bonus is reclassified to equity. Matching \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8693em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">shares are measured at the same fair value as the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7024em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0317em;\">initial restricted stock units and expensed over the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5356em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">three year vesting period. The balancing item is recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3687em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">nized directly in equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.0356em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">Performance restricted stock units granted to Execu- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.8687em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">tive Management as part of their long-term incentive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.7018em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0289em;\">scheme are expensed over the three year vesting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.5349em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">period with the balancing item recognized directly in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.3681em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.027em;\">equity. Vesting is subject to achievement of certain Key \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.2012em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">Performance Indicators (\u201cKPIs\u201d) as determined by the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:37.0343em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">Board of Directors. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2012em;\"><span class=\"stl_353 stl_15 stl_165\" 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:12.0343em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">members of the Executive Management and restricted \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8674em;\"><span class=\"stl_353 stl_15 stl_16\" 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:13.7006em;\"><span class=\"stl_353 stl_15 stl_193\" 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:14.5337em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">nized directly in equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.1949em;\"><span class=\"stl_352 stl_12 stl_287\" style=\"word-spacing:-0.033em;\">Incentive plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0337em;\"><span class=\"stl_353 stl_15 stl_192\" 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:17.8668em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">encourage the achievement of common goals for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.6999em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">employees, management and shareholders, the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.5331em;\"><span class=\"stl_353 stl_15 stl_37\" 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:20.3662em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">warrant programs and restricted stock units programs, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1993em;\"><span class=\"stl_353 stl_15 stl_287\" 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:22.0324em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">ment and Board of Directors. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.6937em;\"><span class=\"stl_352 stl_12 stl_422\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5324em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0327em;\">The Board of Directors has been granting warrants to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3656em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">the Company\u00b4s management and selected employees \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.1987em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">of the Company and its subsidiaries. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8656em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">The warrants are granted in accordance with the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.6987em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">authorizations given to the Board of Directors by the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.5318em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">shareholders. The Board of Directors has fixed the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3649em;\"><span class=\"stl_353 stl_15 stl_283\" 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:21.7325em;top:31.1981em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">into account authorizations from the shareholders, the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.0312em;\"><span class=\"stl_353 stl_15 stl_53\" style=\"word-spacing:-0.0254em;\">Group's guidelines for incentive pay, an assessment of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.8643em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">expectations of the recipient\u00b4s work efforts and contri- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.6974em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">bution to the Group\u00b4s growth, as well as the need to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.5306em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">motivate and retain the recipient. Grant takes place on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:35.3637em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0289em;\">the date of establishment of the program. Exercise of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.1968em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">warrants is by default subject to continuing employ- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:37.0299em;\"><span class=\"stl_353 stl_15 stl_283\" 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:11.1968em;\"><span class=\"stl_353 stl_15 stl_16\" 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:12.0299em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">regarding termination of employees prior to their \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.8631em;\"><span class=\"stl_353 stl_15 stl_274\" 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:13.6962em;\"><span class=\"stl_353 stl_15 stl_94\" style=\"word-spacing:-0.0377em;\">subject to the act. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:15.3631em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">For warrants granted to Executive Management in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:16.1962em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">December 2022 and onwards, vesting is subject to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.0293em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">achievement of certain Key Performance Indicators \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.8624em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">(\u201cKPIs\u201d) as determined by the Board of Directors. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:18.6956em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.0349em;\">Number of granted warrants are adjusted on an annual \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:19.5287em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">basis based on performance. The recognized costs are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:20.3618em;\"><span class=\"stl_353 stl_15 stl_182\" style=\"word-spacing:-0.0232em;\">adjusted accordingly. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_68\" 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_353 stl_15 stl_278\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_35\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_194\" style=\"word-spacing:-0.0329em;\">ured at amortized cost. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8497": {
   "value": "<div class=\"stl_01\" style=\"left:21.7325em;top:10.1676em;\"><span class=\"stl_352 stl_12 stl_165\" 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_352 stl_12 stl_30\">interpretations \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8395em;\"><span class=\"stl_353 stl_15 stl_194\" 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_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">amended and revised accounting standards and inter- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5058em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">pretations issued by the IASB and the IFRS Accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3389em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">Standards endorsed by the European Union effective on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.172em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0295em;\">or after January 1, 2024. It is assessed that application \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.0051em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">of amendments effective from January 1, 2024 has not \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8383em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">had a material impact on the consolidated</span></div><div class=\"stl_01\" style=\"left:33.459em;top:16.8383em;\"><span class=\"stl_353 stl_15 stl_194\">financial \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.6714em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0311em;\">statements for 2024. Furthermore, Management does \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.5045em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">not anticipate any significant impact on future periods \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3376em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0345em;\">from the adoption of these amendments. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8487": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.1708em;\"><span class=\"stl_352 stl_12 stl_165\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_69\" 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_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">Accounting Standards class D as adopted by the EU and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5089em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">Danish disclosure requirements for the consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.342em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">financial statements of listed companies. Danish disclo- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1751em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">sure requirements for the presentation of consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0083em;\"><span class=\"stl_353 stl_15 stl_146\" 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_353 stl_15 stl_284\" style=\"word-spacing:-0.0287em;\">Order on Adoption of the IFRS Accounting Standards \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6745em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">issued under the Danish Financial Statements Act. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3414em;\"><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">revised standards that were effective January 1, 2024. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.6745em;\"><span class=\"stl_353 stl_15 stl_67\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_140\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_288\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_67\" style=\"word-spacing:-0.0285em;\">statements comparative figures for 2023 are shown in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.0064em;\"><span class=\"stl_353 stl_15 stl_146\">brackets. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8488": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.1708em;\"><span class=\"stl_352 stl_12 stl_165\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_69\" 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_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">Accounting Standards class D as adopted by the EU and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5089em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">Danish disclosure requirements for the consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.342em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">financial statements of listed companies. Danish disclo- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1751em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">sure requirements for the presentation of consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0083em;\"><span class=\"stl_353 stl_15 stl_146\" 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_353 stl_15 stl_284\" style=\"word-spacing:-0.0287em;\">Order on Adoption of the IFRS Accounting Standards \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6745em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">issued under the Danish Financial Statements Act. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3414em;\"><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">revised standards that were effective January 1, 2024. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.6745em;\"><span class=\"stl_353 stl_15 stl_67\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_140\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_288\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_67\" style=\"word-spacing:-0.0285em;\">statements comparative figures for 2023 are shown in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.0064em;\"><span class=\"stl_353 stl_15 stl_146\">brackets. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:StatementOfIFRSCompliance",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8512": {
   "value": "<div class=\"stl_01\" style=\"left:55.7488em;top:18.4908em;\"><span class=\"stl_352 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">Foreign currency translation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:19.3295em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">On initial recognition, transactions denominated in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:20.1626em;\"><span class=\"stl_353 stl_15 stl_183\" 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:20.9958em;\"><span class=\"stl_353 stl_15 stl_66\" 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:21.8289em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0287em;\">action date. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:23.4958em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">Receivables, payables and other monetary items \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:24.3289em;\"><span class=\"stl_353 stl_15 stl_37\" 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:25.162em;\"><span class=\"stl_353 stl_15 stl_69\" 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:25.9951em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">exchange rates at the balance sheet date. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:27.662em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">Exchange differences between the exchange rate at \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:28.4951em;\"><span class=\"stl_353 stl_15 stl_278\" 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:29.3283em;\"><span class=\"stl_353 stl_15 stl_140\" 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:30.1614em;\"><span class=\"stl_353 stl_15 stl_53\" 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:30.9945em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">financials. Property, plant and equipment and intan- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:31.8276em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0327em;\">gible assets, inventories and other nonmonetary assets \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:32.6608em;\"><span class=\"stl_353 stl_15 stl_41\" 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:33.4939em;\"><span class=\"stl_353 stl_15 stl_73\" 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:34.327em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">the transaction date. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:35.9939em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">On recognition in the consolidated financial state- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:36.827em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">ments of subsidiaries whose financial statements are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:37.6601em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">presented in a functional currency other than Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.1764em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">kroner (DKK), the income statements are translated at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.0095em;\"><span class=\"stl_353 stl_15 stl_183\" 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:12.6764em;\"><span class=\"stl_353 stl_15 stl_37\" 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:13.5095em;\"><span class=\"stl_353 stl_15 stl_73\" 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:14.3426em;\"><span class=\"stl_353 stl_15 stl_54\" 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:15.1758em;\"><span class=\"stl_353 stl_15 stl_67\" 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:16.0089em;\"><span class=\"stl_353 stl_15 stl_54\" 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:16.842em;\"><span class=\"stl_353 stl_15 stl_190\" 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:17.6751em;\"><span class=\"stl_353 stl_15 stl_275\" 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:18.5083em;\"><span class=\"stl_353 stl_15 stl_189\" style=\"word-spacing:-0.0249em;\">sheet date are recognized as other comprehensive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3414em;\"><span class=\"stl_353 stl_15 stl_68\">income. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8490": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:22.6745em;\"><span class=\"stl_353 stl_15 stl_67\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_140\" style=\"word-spacing:-0.0224em;\">the parent company. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8504": {
   "value": "<div class=\"stl_01\" style=\"left:38.7407em;top:30.1595em;\"><span class=\"stl_352 stl_12 stl_289\" style=\"word-spacing:-0.0346em;\">Basis of consolidation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:30.9983em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">The consolidated financial statements include Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:31.8314em;\"><span class=\"stl_353 stl_15 stl_285\" 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:32.6645em;\"><span class=\"stl_353 stl_15 stl_283\" 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:33.4976em;\"><span class=\"stl_353 stl_15 stl_56\" style=\"word-spacing:-0.0244em;\">has control. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:35.1589em;\"><span class=\"stl_352 stl_12 stl_473\" style=\"word-spacing:-0.0357em;\">Principles of consolidation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:35.9976em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0295em;\">The consolidated financial statements are prepared \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:36.8308em;\"><span class=\"stl_353 stl_15 stl_274\" 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:37.6639em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">company and the individual subsidiaries, and these are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:10.1639em;\"><span class=\"stl_353 stl_15 stl_188\" style=\"word-spacing:-0.0218em;\">prepared in accordance with the Group\u2019s accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:10.997em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">policies and for the same accounting period. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:12.6639em;\"><span class=\"stl_353 stl_15 stl_30\" 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:13.497em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0305em;\">intra-group profits, receivables and payables are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:14.3301em;\"><span class=\"stl_353 stl_15 stl_54\" 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:15.1633em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0305em;\">consolidated financial statements, the book value of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:15.9964em;\"><span class=\"stl_353 stl_15 stl_37\" 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:16.8295em;\"><span class=\"stl_353 stl_15 stl_90\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8518": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:21.0026em;\"><span class=\"stl_352 stl_12 stl_89\" style=\"word-spacing:-0.0383em;\">Segment reporting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8414em;\"><span class=\"stl_353 stl_15 stl_183\" 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:22.6745em;\"><span class=\"stl_353 stl_15 stl_91\" 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:23.5076em;\"><span class=\"stl_353 stl_15 stl_180\">externally. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.1745em;\"><span class=\"stl_353 stl_15 stl_193\" 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:26.0076em;\"><span class=\"stl_353 stl_15 stl_284\" 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:26.8408em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">financial statements. Geographic location of noncurrent \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.6739em;\"><span class=\"stl_353 stl_15 stl_288\" 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:28.507em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">financial statements. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8543": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:24.3351em;\"><span class=\"stl_352 stl_12 stl_283\" style=\"word-spacing:-0.0322em;\">Net asset value per share: \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6627em;top:25.1739em;\"><span class=\"stl_353 stl_15 stl_377\">Equity \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.1251em;\"><span class=\"stl_353 stl_15 stl_182\" style=\"word-spacing:-0.0232em;\">Number of shares at year-end \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.7864em;\"><span class=\"stl_352 stl_12 stl_193\" style=\"word-spacing:-0.0304em;\">Share price/Net asset value per share: \u00a0</span></div><div class=\"stl_01\" style=\"left:39.1358em;top:28.6251em;\"><span class=\"stl_353 stl_15 stl_243\" style=\"word-spacing:-0.026em;\">Market price per share \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.5764em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">Net asset value per share \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.2376em;\"><span class=\"stl_352 stl_12 stl_96\" style=\"word-spacing:-0.0347em;\">Equity share, %: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:32.0764em;\"><span class=\"stl_353 stl_15 stl_22\" style=\"word-spacing:-0.0374em;\">Equity x 100 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7595em;top:33.0276em;\"><span class=\"stl_353 stl_15 stl_46\" style=\"word-spacing:-0.023em;\">Total assets \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:34.6945em;\"><span class=\"stl_353 stl_15 stl_16\" 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:35.5276em;\"><span class=\"stl_353 stl_15 stl_41\" 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:36.3608em;\"><span class=\"stl_353 stl_15 stl_69\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_54\" 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_353 stl_15 stl_243\" 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_353 stl_15 stl_35\" 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_353 stl_15 stl_69\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_283\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8520": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:30.1683em;\"><span class=\"stl_352 stl_12 stl_51\" style=\"word-spacing:-0.032em;\">Cash flow statement \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.007em;\"><span class=\"stl_353 stl_15 stl_48\" 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:31.8401em;\"><span class=\"stl_353 stl_15 stl_28\" 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:32.6733em;\"><span class=\"stl_353 stl_15 stl_279\" 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:33.5064em;\"><span class=\"stl_353 stl_15 stl_67\" 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:34.3395em;\"><span class=\"stl_353 stl_15 stl_283\" 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:35.1726em;\"><span class=\"stl_353 stl_15 stl_285\" 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:36.0058em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">Group\u2019s cash and cash equivalents. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.1726em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0274em;\">Cash flows in foreign currencies are translated into \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0058em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">Danish kroner (DKK) at the exchange rate on the trans- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8389em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0287em;\">action date. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5058em;\"><span class=\"stl_353 stl_15 stl_16\" 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:14.3389em;\"><span class=\"stl_353 stl_15 stl_54\" 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:15.172em;\"><span class=\"stl_353 stl_15 stl_473\" style=\"word-spacing:-0.0359em;\">changes in working capital. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8389em;\"><span class=\"stl_353 stl_15 stl_146\" 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:17.672em;\"><span class=\"stl_353 stl_15 stl_194\" 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:18.5051em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">erty, plant and equipment, investments and securities. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3383em;\"><span class=\"stl_353 stl_15 stl_30\" 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:20.1714em;\"><span class=\"stl_353 stl_15 stl_51\" 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:21.0045em;\"><span class=\"stl_353 stl_15 stl_37\">increases. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.6714em;\"><span class=\"stl_353 stl_15 stl_284\" 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:23.5045em;\"><span class=\"stl_353 stl_15 stl_44\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8544": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_307\" style=\"word-spacing:0.0033em;\">Note 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_136\" 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_683 stl_12 stl_180\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">estimates and judgements, which form the basis for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5378em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">the presentation, recognition and measurement of the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3709em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">Group's assets and liabilities. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0378em;\"><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_91\" 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_353 stl_15 stl_284\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">The key accounting estimates and judgements identi- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8703em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">fied are those that have a significant risk of resulting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.7034em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">in a material adjustment to the measurement of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5365em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">assets and liabilities in the following reporting period. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0365em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0344em;\">Management bases its estimates and judgements on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8696em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0323em;\">historical experience and various other assumptions \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.7028em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">that are held to be reasonable under the circumstances. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5359em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">The underlying assumptions are reviewed on an \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.369em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">ongoing basis. If necessary, changes are recognised in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.2021em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">the period in which the estimate and judgement are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.0353em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.027em;\">revised. Management considers the key accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8684em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0317em;\">estimates and judgements to be reasonable and appro- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.7015em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">priate based on currently available information. The \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.5346em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0343em;\">actual amounts may differ as more detailed informa- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3678em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">tion becomes available. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.0346em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Management has made the following accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8678em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">estimates and judgements which significantly affect \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.7009em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">the amounts recognized in the consolidated financial \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.534em;\"><span class=\"stl_353 stl_15 stl_60\">statements:\" \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.8016em;\"><span class=\"stl_269 stl_12 stl_282\" style=\"word-spacing:-0.035em;\">Accounting policy \u00a0</span></div><div class=\"stl_01\" style=\"left:12.2269em;top:25.8016em;\"><span class=\"stl_269 stl_12 stl_283\" style=\"word-spacing:-0.0322em;\">Key accounting estimates and judgments \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0557em;top:25.8016em;\"><span class=\"stl_269 stl_12 stl_75\">Note \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.4916em;\"><span class=\"stl_277 stl_15 stl_297\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:12.2269em;top:27.4916em;\"><span class=\"stl_277 stl_15 stl_41\" 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:27.4916em;\"><span class=\"stl_277 stl_15 stl_27\">3</span></div><div class=\"stl_01\" style=\"left:12.2269em;top:28.5141em;\"><span class=\"stl_277 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">Estimate regarding impairment of assets; assessment whether future sales \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.3472em;\"><span class=\"stl_277 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">Intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:12.2269em;top:29.3472em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">and development milestones have become probably; assessment whether \u00a0</span></div><div class=\"stl_01\" style=\"left:35.7782em;top:29.3472em;\"><span class=\"stl_277 stl_15 stl_632\">15 \u00a0</span></div><div class=\"stl_01\" style=\"left:12.2269em;top:30.1804em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">development costs should be expensed or capitalized \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2029em;\"><span class=\"stl_277 stl_15 stl_53\">Inventories \u00a0</span></div><div class=\"stl_01\" style=\"left:12.2269em;top:31.2029em;\"><span class=\"stl_277 stl_15 stl_194\" 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:31.2029em;\"><span class=\"stl_277 stl_15 stl_664\">18 \u00a0</span></div><div class=\"stl_01\" style=\"left:40.3324em;top:10.5216em;\"><span class=\"stl_683 stl_12 stl_180\" 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_352 stl_12 stl_392\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_30\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_284\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_189\" 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_353 stl_15 stl_140\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_283\" 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_352 stl_12 stl_462\" style=\"word-spacing:-0.0409em;\">Partner contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.3984em;\"><span class=\"stl_353 stl_15 stl_146\" 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_353 stl_15 stl_91\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_278\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_91\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_289\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_96\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_282\" style=\"word-spacing:-0.0349em;\">concluding the contract. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.3324em;top:10.3531em;\"><span class=\"stl_683 stl_12 stl_180\" style=\"word-spacing:-0.0239em;\">Key accounting estimates \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.3943em;\"><span class=\"stl_352 stl_12 stl_223\" style=\"word-spacing:-0.0378em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.2331em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0356em;\">When determining the amortization period for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.0662em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">acquired product rights, Management need to make \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.8993em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">an assessment of expected useful economic life. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.7324em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">In the assessment Management take among other \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.5656em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">things the following components into consideration: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.3987em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0342em;\">The maturity of the products acquired, development \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.2318em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">in the market the acquired products are targeting, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.0649em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">the current competitors, clinical development of new \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.8981em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">competing products and entry barriers to the market \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.7312em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">due to advanced production technology. Straight-line \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.5643em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.0349em;\">amortization reflects the use and impairment of the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.3974em;\"><span class=\"stl_353 stl_15 stl_334\" style=\"word-spacing:-0.0385em;\">product rights. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.0643em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0323em;\">Management continuously updates the valuation model \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.8974em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">used when acquiring the product rights from GSK to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.7306em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">assess the value creation expected from the acquisi- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.5637em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">tion. The latest update of the valuation model shows \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.3968em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">a value above the net present value of the purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.2299em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">price, hence there is no indications of impairment. \u00a0</span></div><div class=\"stl_01\" style=\"left:57.3403em;top:10.3531em;\"><span class=\"stl_683 stl_12 stl_35\" style=\"word-spacing:-0.0273em;\">Key accounting judgments \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.3999em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Management has made the following accounting judg- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.2331em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0342em;\">ments which significantly affect the amounts recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:13.0662em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">nized in the consolidated financial statements: \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:14.7274em;\"><span class=\"stl_352 stl_12 stl_85\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:15.5662em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0247em;\">Under the Group\u2019s accounting policies and in accordance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.3993em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">with common industry practice, development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.2324em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">are generally expensed in the year they occur. This \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:18.0656em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">approach is taken due to the uncertainty surrounding \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:18.8987em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">the future benefits of these costs until commercial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:19.7318em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">approval is obtained. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:10.2094em;\"><span class=\"stl_352 stl_12 stl_223\" style=\"word-spacing:-0.0378em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:11.0482em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">December 31, 2019 the Company acquired the product \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:11.8813em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">rights to two commercial products owned by GSK - \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:12.7144em;\"><span class=\"stl_353 stl_15 stl_31\" style=\"word-spacing:-0.0209em;\">Rabipur/RabAvert and Encepur. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:14.3813em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">The products have been on the market for more than \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:15.2144em;\"><span class=\"stl_353 stl_15 stl_55\" 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:55.7502em;top:16.0475em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">ucts. Management assesses that it will require up to 10 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:16.8807em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">years of clinical development for competitors to bring \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:17.7138em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.028em;\">a new competing product to the market likewise the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:18.5469em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0329em;\">production process required to produce these products \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:19.38em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0349em;\">is highly complex. Based on these factors Management \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:20.2132em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">assesses that the acquired product rights should be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:21.0463em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">amortized over 20 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:22.7132em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">In June 2024, based on higher-than-expected sales \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:23.5463em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">of Rabipur and Encepur during the second quarter of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:24.3794em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">2024, Management assessed it likely that Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:25.2125em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">Nordic would reach the trigger for the sales milestone \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:26.0457em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">included in the Asset Purchase Agreement concluded \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:26.8788em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">in 2019 and this was finally confirmed by end of July \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:27.7119em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">2024. The sales milestone of DKK 186 million has been \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:28.545em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">recognized as an addition to the product rights and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:29.3782em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0293em;\">deferred consideration. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:31.045em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">In May 2023, the Company concluded a Purchase and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:31.8782em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Sale Agreement with Emergent BioSolutions. The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:32.7113em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">agreement included acquisition of product rights to two \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:33.5444em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0277em;\">commercial travel vaccines - Vivotif and Vaxchora. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:34.3775em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0285em;\">Vivotif and Vaxchora were first licensed in the US in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:35.2107em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0249em;\">1989 and 2016 respectively. Vaccines have historically \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:36.0438em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">shown to have a long lifespan due to stringent regu- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:36.8769em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">latory requirements, high research and development \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:37.71em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">costs and a complex manufacturing process. Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2189em;\"><span class=\"stl_353 stl_15 stl_61\" 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:11.052em;\"><span class=\"stl_353 stl_15 stl_193\" 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:11.8852em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0293em;\">entering the market and taking significant market \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.7183em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">shares. Based on these factors Management assesses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5514em;\"><span class=\"stl_353 stl_15 stl_289\" 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:14.3845em;\"><span class=\"stl_353 stl_15 stl_29\" style=\"word-spacing:-0.02em;\">over 20 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0514em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Vivotif was developed more than 30 years ago and the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8845em;\"><span class=\"stl_353 stl_15 stl_44\" style=\"word-spacing:-0.0258em;\">market is larger than for Vaxchora. Therefore, the risk of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.7177em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">competition is also deemed higher, hence the amorti- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5508em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0291em;\">zation period is assessed to be 10 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.2177em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">The acquisition price for the two product rights consists \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0508em;\"><span class=\"stl_353 stl_15 stl_54\" 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:4.7244em;top:21.8839em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">DKK 137 million for Vaxchora. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5508em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">The Purchase and Sale Agreement also includes \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3839em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">an earnout payment starting at USD 30 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.217em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">The earnout payment relates to sale of Vivotif and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.0502em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">Vaxchora. As per December 31, 2023 Management does \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8833em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">not judge the sales milestone to be probable and there- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.7164em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">fore the earnout payment has not been recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.5495em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">either part of the project rights nor the deferred consid- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.3827em;\"><span class=\"stl_353 stl_15 stl_194\">eration. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.0439em;\"><span class=\"stl_352 stl_12 stl_85\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8827em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.7158em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">Emergent BioSolutions included acquisition of a late- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5489em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">stage vaccine candidate for Chikungunya virus. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.382em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">initial acquisition price amounted to DKK 788 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.2152em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">No further cost will be capitalized. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.2152em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">The agreement with Emergent BioSolutions also \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0483em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">included milestone payments totaling USD 80 million \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8814em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">related to submission and approval of Biologics License \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.7145em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Application (BLA) to FDA and Marketing Authorization \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5477em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">Application to EMA for the chikungunya development \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3808em;\"><span class=\"stl_353 stl_15 stl_275\">asset. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.0477em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">At initial recognition the net present value of probable \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8808em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">future development milestone payments to Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.7139em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">BioSolutions Inc. amounted to DKK 499 million and was \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.547em;\"><span class=\"stl_353 stl_15 stl_64\" style=\"word-spacing:-0.0221em;\">recognized as deferred consideration (note 24). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.2083em;\"><span class=\"stl_352 stl_12 stl_30\" style=\"word-spacing:-0.0324em;\">Developed production processes \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.047em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Developed production processes consist of the the as-is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8802em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">technology transfer from GSK to Bavarian Nordic of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.7133em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0283em;\">the manufacturing process for Rabipur/RabAvert and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.5464em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">Encepur. The Company has incurred material costs in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.3795em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">terms of internal labour and consultancy to handle the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.2127em;\"><span class=\"stl_353 stl_15 stl_473\" style=\"word-spacing:-0.0359em;\">technology transfer and has gained crucial knowledge \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.0458em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">about the manufacturing process. These costs are capi- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.8789em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">talized as an intangible asset. As per December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.712em;\"><span class=\"stl_353 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">the capitalized costs amounts to DKK 344 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:59.5351em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.4689em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_490\" style=\"word-spacing:-0.0425em;\">Carrying amount \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2651em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_83\">Remaining \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:12.2289em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5983em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_283\" style=\"word-spacing:-0.0322em;\">Acquistion price \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7958em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_577\" style=\"word-spacing:-0.0118em;\">December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6133em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_377\" style=\"word-spacing:-0.0396em;\">amortization period \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:13.9133em;\"><span class=\"stl_277 stl_15 stl_279\">Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:53.672em;top:13.9133em;\"><span class=\"stl_277 stl_15 stl_306\">3,252,110 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.667em;top:13.9133em;\"><span class=\"stl_277 stl_15 stl_57\">2,463,437 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1445em;top:13.9133em;\"><span class=\"stl_277 stl_15 stl_351\" style=\"word-spacing:-0.0048em;\">15 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_66\">Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:53.5989em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_442\">2,393,023 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7314em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_650\">1,811,007 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1451em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_351\" style=\"word-spacing:-0.0048em;\">15 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_181\">Vivotif \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0883em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_361\">312,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.2195em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_620\">259,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9576em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_29\" style=\"word-spacing:-0.02em;\">8.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_275\">Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:54.1514em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_702\">137,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1626em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_301\">126,223 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6439em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_402\" style=\"word-spacing:-0.01em;\">18.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:-0.0331em;\">Total product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:53.3876em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_460\">6,094,710 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.4358em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_213\">4,660,426 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.5351em;top:20.8252em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.4701em;top:22.0245em;\"><span class=\"stl_269 stl_12 stl_490\" style=\"word-spacing:-0.0425em;\">Carrying amount \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2664em;top:22.0245em;\"><span class=\"stl_269 stl_12 stl_83\">Remaining \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:22.7802em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5995em;top:22.7745em;\"><span class=\"stl_269 stl_12 stl_283\" style=\"word-spacing:-0.0322em;\">Acquistion price \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7945em;top:22.7745em;\"><span class=\"stl_269 stl_12 stl_329\" style=\"word-spacing:-0.0125em;\">December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6145em;top:22.7745em;\"><span class=\"stl_269 stl_12 stl_377\" style=\"word-spacing:-0.0396em;\">amortization period \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:24.4645em;\"><span class=\"stl_277 stl_15 stl_279\">Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:53.6458em;top:24.4645em;\"><span class=\"stl_277 stl_15 stl_300\">3,140,250 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.672em;top:24.4645em;\"><span class=\"stl_277 stl_15 stl_296\">2,512,200 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1439em;top:24.4645em;\"><span class=\"stl_277 stl_15 stl_545\" style=\"word-spacing:-0.0052em;\">16 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:25.4864em;\"><span class=\"stl_277 stl_15 stl_66\">Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:53.5976em;top:25.4864em;\"><span class=\"stl_277 stl_15 stl_267\">2,318,450 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.6964em;top:25.4864em;\"><span class=\"stl_277 stl_15 stl_324\">1,854,760 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1439em;top:25.4864em;\"><span class=\"stl_277 stl_15 stl_545\" style=\"word-spacing:-0.0052em;\">16 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:26.5083em;\"><span class=\"stl_277 stl_15 stl_181\">Vivotif \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0876em;top:26.5083em;\"><span class=\"stl_277 stl_15 stl_361\">312,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1801em;top:26.5083em;\"><span class=\"stl_277 stl_15 stl_366\">291,357 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9901em;top:26.5083em;\"><span class=\"stl_277 stl_15 stl_418\" style=\"word-spacing:-0.003em;\">9.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:27.5302em;\"><span class=\"stl_277 stl_15 stl_275\">Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:54.152em;top:27.5302em;\"><span class=\"stl_277 stl_15 stl_702\">137,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.2576em;top:27.5302em;\"><span class=\"stl_277 stl_15 stl_670\">133,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6795em;top:27.5302em;\"><span class=\"stl_277 stl_15 stl_59\" style=\"word-spacing:0.006em;\">19.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:28.5464em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:-0.0331em;\">Total product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:53.3514em;top:28.5464em;\"><span class=\"stl_269 stl_12 stl_504\">5,908,277 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.4676em;top:28.5464em;\"><span class=\"stl_269 stl_12 stl_301\">4,791,442 \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3245em;top:10.3531em;\"><span class=\"stl_683 stl_12 stl_284\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_35\" 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_353 stl_15 stl_288\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_37\">estimates. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:24.7306em;\"><span class=\"stl_353 stl_15 stl_183\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_73\" 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_353 stl_15 stl_377\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8548": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_307\" style=\"word-spacing:0.0033em;\">Note 3 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_159\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:40.3324em;top:10.5216em;\"><span class=\"stl_683 stl_12 stl_180\" 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_352 stl_12 stl_392\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_30\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_284\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_189\" 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_353 stl_15 stl_140\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_283\" 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_352 stl_12 stl_462\" style=\"word-spacing:-0.0409em;\">Partner contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.3984em;\"><span class=\"stl_353 stl_15 stl_146\" 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_353 stl_15 stl_91\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_278\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_91\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_289\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_96\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_282\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:11.9583em;\"><span class=\"stl_269 stl_12 stl_182\" style=\"word-spacing:-0.0232em;\">Travel health \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_279\">Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:29.9863em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_160\">1,352,461 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.945em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_601\">1,161,162 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_66\">Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5757em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_580\">497,130 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2757em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_159\">416,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_181\">Vivotif \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5313em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_687\">179,212 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2569em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_143\">118,885 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_275\">Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:30.845em;top:16.0514em;z-index:195;\"><span class=\"stl_277 stl_15 stl_62\">64</span><span class=\"stl_277 stl_15 stl_648\">,</span><span class=\"stl_277 stl_15 stl_335\">153 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5588em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_383\">23,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_264\" style=\"word-spacing:-0.0388em;\">Other product sale \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4882em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_125\">193,629 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.25em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_461\">156,533 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.715em;top:18.0895em;\"><span class=\"stl_269 stl_12 stl_240\">2,286,585 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5588em;top:18.0895em;\"><span class=\"stl_269 stl_12 stl_477\">1,877,072 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.7152em;\"><span class=\"stl_269 stl_12 stl_282\" style=\"word-spacing:-0.035em;\">Public preparedness \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:20.7427em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">Mpox/smallpox vaccine sale \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0119em;top:20.7427em;\"><span class=\"stl_277 stl_15 stl_141\">3,206,186 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8175em;top:20.7427em;\"><span class=\"stl_277 stl_15 stl_510\">5,027,001 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.7589em;\"><span class=\"stl_269 stl_12 stl_390\" style=\"word-spacing:-0.0372em;\">Sale of goods \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7538em;top:21.7589em;\"><span class=\"stl_269 stl_12 stl_535\" style=\"word-spacing:1.1767em;\">5,492,771 6,904,073 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.3902em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">Contract work \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4513em;top:23.3902em;\"><span class=\"stl_277 stl_15 stl_420\">223,435 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2438em;top:23.3902em;\"><span class=\"stl_277 stl_15 stl_442\">158,267 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.4064em;\"><span class=\"stl_269 stl_12 stl_93\" style=\"word-spacing:-0.0389em;\">Sale of services \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2832em;top:24.4064em;\"><span class=\"stl_269 stl_12 stl_207\">223,435 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0832em;top:24.4064em;\"><span class=\"stl_269 stl_12 stl_307\">158,267 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.032em;\"><span class=\"stl_269 stl_12 stl_181\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7744em;top:26.032em;\"><span class=\"stl_269 stl_12 stl_266\">5,716,206 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5488em;top:26.032em;\"><span class=\"stl_269 stl_12 stl_174\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.6577em;\"><span class=\"stl_269 stl_12 stl_69\" style=\"word-spacing:-0.0278em;\">Total revenue includes: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.6852em;\"><span class=\"stl_277 stl_15 stl_275\" 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:31.0982em;top:28.6852em;\"><span class=\"stl_277 stl_15 stl_336\">5,486 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9332em;top:28.6852em;\"><span class=\"stl_277 stl_15 stl_419\">5,016 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.2902em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">Other product sale consists of the following: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.1233em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:31.1233em;\"><span class=\"stl_353 stl_15 stl_54\" 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:31.9564em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:31.9564em;\"><span class=\"stl_353 stl_15 stl_54\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:11.9583em;\"><span class=\"stl_269 stl_12 stl_21\" style=\"word-spacing:-0.034em;\">Geographic split of revenue: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_190\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9827em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_460\">2,702,900 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.787em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_143\">2,577,081 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_92\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4739em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_202\">972,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3389em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_344\">714,136 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_74\">Canada \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4752em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_169\">493,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7839em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_156\">1,556,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_35\">France \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4814em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_307\">268,766 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2683em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_393\">740,256 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_264\" style=\"word-spacing:-0.0389em;\">Saudi Arabia \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4783em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_174\">265,730 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9039em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_314\">4,839 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:18.0952em;\"><span class=\"stl_277 stl_15 stl_95\">Belgium \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5702em;top:18.0952em;\"><span class=\"stl_277 stl_15 stl_664\">218,193 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1789em;top:18.0952em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.117em;\"><span class=\"stl_277 stl_15 stl_92\">Singapore \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4895em;top:19.117em;\"><span class=\"stl_277 stl_15 stl_161\">124,649 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5858em;top:19.117em;\"><span class=\"stl_277 stl_15 stl_101\">42,041 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.1389em;\"><span class=\"stl_277 stl_15 stl_422\">Finland \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7808em;top:20.1389em;\"><span class=\"stl_277 stl_15 stl_216\">98,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6064em;top:20.1389em;\"><span class=\"stl_277 stl_15 stl_127\">15,720 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.1608em;\"><span class=\"stl_277 stl_15 stl_290\">Netherlands \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8639em;top:21.1608em;\"><span class=\"stl_277 stl_15 stl_686\">69,793 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6183em;top:21.1608em;\"><span class=\"stl_277 stl_15 stl_688\">39,325 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.1827em;\"><span class=\"stl_277 stl_15 stl_32\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7995em;top:22.1827em;\"><span class=\"stl_277 stl_15 stl_58\">52,591 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.312em;top:22.1827em;\"><span class=\"stl_277 stl_15 stl_587\">107,738 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.2045em;\"><span class=\"stl_277 stl_15 stl_29\">Sweden \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8252em;top:23.2045em;\"><span class=\"stl_277 stl_15 stl_135\">49,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5895em;top:23.2045em;\"><span class=\"stl_277 stl_15 stl_227\">71,966 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.2264em;\"><span class=\"stl_277 stl_15 stl_226\">Taiwan \u00a0</span></div><div class=\"stl_01\" style=\"left:64.782em;top:24.2264em;\"><span class=\"stl_277 stl_15 stl_447\">40,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5908em;top:24.2264em;\"><span class=\"stl_277 stl_15 stl_424\">53,796 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.2483em;\"><span class=\"stl_277 stl_15 stl_30\">Spain \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3989em;top:25.2483em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.257em;top:25.2483em;\"><span class=\"stl_277 stl_15 stl_205\">429,664 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:26.2702em;\"><span class=\"stl_277 stl_15 stl_146\">Australia \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3983em;top:26.2702em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.2783em;top:26.2702em;\"><span class=\"stl_277 stl_15 stl_122\">338,076 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:27.292em;\"><span class=\"stl_277 stl_15 stl_473\" style=\"word-spacing:-0.0359em;\">Other geographic markets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4958em;top:27.292em;\"><span class=\"stl_277 stl_15 stl_120\">359,299 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2639em;top:27.292em;\"><span class=\"stl_277 stl_15 stl_461\">371,663 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:28.912em;\"><span class=\"stl_269 stl_12 stl_181\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7895em;top:28.912em;\"><span class=\"stl_269 stl_12 stl_266\">5,716,206 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5639em;top:28.912em;\"><span class=\"stl_269 stl_12 stl_174\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:30.5227em;\"><span class=\"stl_353 stl_15 stl_180\" style=\"word-spacing:-0.0238em;\">In 2024 revenue achieved on the Danish market amounted to DKK 28.1 million (DKK 18.9 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:32.1895em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0252em;\">In 2024 the following customers represented more than 10% of total revenue: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:33.0227em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:39.4483em;top:33.0227em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">Biomedical Advanced Research and Development Authority (BARDA), USA, DKK 1,328.5 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:34.6895em;\"><span class=\"stl_353 stl_15 stl_75\" 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:38.7395em;top:35.5227em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:39.4483em;top:35.5227em;\"><span class=\"stl_353 stl_15 stl_51\" 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:38.7395em;top:36.3558em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:39.4483em;top:36.3558em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0345em;\">Health Canada/PHAC, Department of Health, Canada, DKK 1,534.8 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:37.1889em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:39.4483em;top:37.1889em;\"><span class=\"stl_353 stl_15 stl_66\" 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:4.7244em;top:10.2133em;\"><span class=\"stl_352 stl_12 stl_90\" 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_352 stl_12 stl_285\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">sion until filling as final product. The filling takes \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3845em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">place either at the Company's facility in Kvistgaard or \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.2177em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0256em;\">at CMO's (a bill-and-hold arrangement). Revenue is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0508em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0255em;\">recognized once the batches are releasable according to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8839em;\"><span class=\"stl_353 stl_15 stl_74\" style=\"word-spacing:-0.036em;\">contract with BARDA. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5508em;\"><span class=\"stl_353 stl_15 stl_66\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8549": {
   "value": "<div class=\"stl_01\" style=\"left:40.0735em;top:10.2008em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.0753em;\"><span class=\"stl_352 stl_12 stl_390\" 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_353 stl_15 stl_284\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_378\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">Bavarian Nordic also records estimates for a variety \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.2453em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0337em;\">of sales deductions, including product returns as well \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.0784em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0283em;\">as rebates and discounts to government agencies, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.9115em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0323em;\">wholesalers, health insurance companies, managed \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.7447em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0313em;\">healthcare organizations and retail customers. These \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.5778em;z-index:2743;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">sales deductions are recognized as \"Gross to net dedu</span><span class=\"stl_353 stl_15 stl_684\">c</span><span class=\"stl_353 stl_15 stl_684\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.4109em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">tion\" under other liabilities. Revenue is measured net \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.244em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">of value added tax, duties, etc. collected on behalf of a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.0772em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">third party. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.744em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">Where contracts contain customer acceptance criteria, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.5772em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">Bavarian Nordic recognizes sales when the acceptance \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.4103em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">criteria are satisfied. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.0772em;\"><span class=\"stl_353 stl_15 stl_283\" 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:31.9103em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0267em;\">different kind of rebates are described below. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.5734em;\"><span class=\"stl_511 stl_512 stl_290\" style=\"word-spacing:-0.0333em;\">Pricing mechanisms in the US market \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:34.4103em;\"><span class=\"stl_353 stl_15 stl_41\" 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:35.2434em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0299em;\">government and commercial programmes. Key \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.0765em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">customers in the US include private payers, Group \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.9097em;\"><span class=\"stl_353 stl_15 stl_44\" style=\"word-spacing:-0.0258em;\">Purchasing Organizations (GPOs) and government \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:37.7428em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">payers. GPOs play a role in negotiating price conces- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:11.0759em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">sions with drug manufacturers for the commercial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:11.909em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0313em;\">channels, and determine which drugs are offered as \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:12.7422em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">preferred options on their drug lists. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:14.4053em;\"><span class=\"stl_511 stl_512 stl_41\" style=\"word-spacing:-0.0306em;\">US Medicaid &amp; Medicare rebates \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:15.2422em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">Medicaid &amp; Medicare are government insurance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:16.0753em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">programmes. Medicaid and Medicare rebates have \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:16.9084em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">been estimated using a combination of historical expe- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:17.7415em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">rience, product and population growth, price increases, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:18.5747em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0347em;\">and the impact of contracting strategies. The calcula- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:19.4078em;\"><span class=\"stl_353 stl_15 stl_48\" style=\"word-spacing:-0.0261em;\">tion also involves interpretation of relevant regulations \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:20.2409em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">that are subject to changes in interpretative guidance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:21.074em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">from government authorities. Bavarian Nordic adjusts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:21.9072em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0319em;\">the provision periodically to reflect actual sales perfor- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:22.7403em;\"><span class=\"stl_353 stl_15 stl_182\">mance. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:24.4034em;\"><span class=\"stl_511 stl_512 stl_74\" style=\"word-spacing:-0.036em;\">Wholesaler charge-backs \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:25.2403em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">Wholesaler charge-backs relate to contractual arrange- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:26.0734em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0347em;\">ments between Bavarian Nordic and indirect customers \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:26.9065em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">whereby products are sold at contract prices lower \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:27.7397em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">than the list price originally charged to wholesalers. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:28.5728em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">A wholesaler charge-back represents the difference \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:29.4059em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">between the invoice price to the wholesaler and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:30.239em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">indirect customer\u2019s contract price. Accruals are calcu- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:31.0722em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">lated for estimated charge-backs using a combination \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:31.9053em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0325em;\">of factors such as historical experience, current whole- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:32.7384em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">saler inventory levels, contract terms and the value of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:33.5715em;\"><span class=\"stl_353 stl_15 stl_53\" style=\"word-spacing:-0.0253em;\">claims received but not yet processed. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:35.2347em;\"><span class=\"stl_511 stl_512 stl_194\" style=\"word-spacing:-0.0327em;\">Other discounts and sales returns \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:36.0715em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">Other discounts are provided to wholesalers, hospi- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:36.9047em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">tals, pharmacies, etc. They are usually linked to sales \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:37.7378em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">volume or provided as cash discounts. Accruals are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.5858em;\"><span class=\"stl_353 stl_15 stl_54\" 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:12.419em;\"><span class=\"stl_353 stl_15 stl_25\" 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:13.2521em;\"><span class=\"stl_353 stl_15 stl_288\" 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:14.0852em;\"><span class=\"stl_353 stl_15 stl_95\" style=\"word-spacing:-0.037em;\">expired products. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.7465em;\"><span class=\"stl_352 stl_12 stl_378\" style=\"word-spacing:-0.0356em;\">Sale of services and licenses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.5852em;\"><span class=\"stl_353 stl_15 stl_25\" 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:17.4183em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">consideration received or receivable for income derived \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.2515em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">from development services where revenue is measured \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.0846em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">at the expected net sales price. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.7515em;\"><span class=\"stl_353 stl_15 stl_183\" 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:21.5846em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">ownership of intellectual property are recognized at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.4177em;\"><span class=\"stl_353 stl_15 stl_288\" 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:23.2508em;\"><span class=\"stl_353 stl_15 stl_183\" 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:24.084em;\"><span class=\"stl_353 stl_15 stl_283\" 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:24.9171em;\"><span class=\"stl_353 stl_15 stl_284\" 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:25.7502em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.035em;\">delivery of the work. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.4171em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">Agreements with commercial partners generally \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.2502em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">include non-refundable upfront license and collabora- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.0833em;\"><span class=\"stl_353 stl_15 stl_275\" 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:11.5833em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">dependent upon the achievement of certain clinical, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.4165em;\"><span class=\"stl_353 stl_15 stl_68\" 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:13.2496em;\"><span class=\"stl_353 stl_15 stl_165\" 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:14.0827em;\"><span class=\"stl_353 stl_15 stl_68\" 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:14.9158em;\"><span class=\"stl_353 stl_15 stl_91\" 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:15.749em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">elements, total contract consideration is attributed to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.5821em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">separately identifiable components on a reliable basis \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.4152em;\"><span class=\"stl_353 stl_15 stl_190\" 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:18.2483em;\"><span class=\"stl_353 stl_15 stl_473\" 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:19.0815em;\"><span class=\"stl_353 stl_15 stl_92\" 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:19.9146em;\"><span class=\"stl_353 stl_15 stl_41\" 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:20.7477em;\"><span class=\"stl_353 stl_15 stl_181\" 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:21.5808em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">described above. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8556": {
   "value": "<div class=\"stl_01\" style=\"left:55.7477em;top:14.4053em;\"><span class=\"stl_511 stl_512 stl_41\" style=\"word-spacing:-0.0306em;\">US Medicaid &amp; Medicare rebates \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:15.2422em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">Medicaid &amp; Medicare are government insurance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:16.0753em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">programmes. Medicaid and Medicare rebates have \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:16.9084em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">been estimated using a combination of historical expe- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:17.7415em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">rience, product and population growth, price increases, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:18.5747em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0347em;\">and the impact of contracting strategies. The calcula- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:19.4078em;\"><span class=\"stl_353 stl_15 stl_48\" style=\"word-spacing:-0.0261em;\">tion also involves interpretation of relevant regulations \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:20.2409em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">that are subject to changes in interpretative guidance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:21.074em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">from government authorities. Bavarian Nordic adjusts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:21.9072em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0319em;\">the provision periodically to reflect actual sales perfor- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:22.7403em;\"><span class=\"stl_353 stl_15 stl_182\">mance. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:35.2347em;\"><span class=\"stl_511 stl_512 stl_194\" style=\"word-spacing:-0.0327em;\">Other discounts and sales returns \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:36.0715em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">Other discounts are provided to wholesalers, hospi- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:36.9047em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">tals, pharmacies, etc. They are usually linked to sales \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7477em;top:37.7378em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">volume or provided as cash discounts. Accruals are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.5858em;\"><span class=\"stl_353 stl_15 stl_54\" 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:12.419em;\"><span class=\"stl_353 stl_15 stl_25\" 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:13.2521em;\"><span class=\"stl_353 stl_15 stl_288\" 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:14.0852em;\"><span class=\"stl_353 stl_15 stl_95\" style=\"word-spacing:-0.037em;\">expired products. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscountsAndRebatesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8572": {
   "value": "<div class=\"stl_01\" style=\"left:40.3324em;top:10.5216em;\"><span class=\"stl_683 stl_12 stl_180\" 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_352 stl_12 stl_392\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_30\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_284\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_189\" 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_353 stl_15 stl_140\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">detailed information becomes available. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8578": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:11.9583em;\"><span class=\"stl_269 stl_12 stl_182\" style=\"word-spacing:-0.0232em;\">Travel health \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_279\">Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:29.9863em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_160\">1,352,461 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.945em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_601\">1,161,162 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_66\">Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5757em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_580\">497,130 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2757em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_159\">416,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_181\">Vivotif \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5313em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_687\">179,212 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2569em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_143\">118,885 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_275\">Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:30.845em;top:16.0514em;z-index:195;\"><span class=\"stl_277 stl_15 stl_62\">64</span><span class=\"stl_277 stl_15 stl_648\">,</span><span class=\"stl_277 stl_15 stl_335\">153 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5588em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_383\">23,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_264\" style=\"word-spacing:-0.0388em;\">Other product sale \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4882em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_125\">193,629 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.25em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_461\">156,533 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.715em;top:18.0895em;\"><span class=\"stl_269 stl_12 stl_240\">2,286,585 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5588em;top:18.0895em;\"><span class=\"stl_269 stl_12 stl_477\">1,877,072 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.7152em;\"><span class=\"stl_269 stl_12 stl_282\" style=\"word-spacing:-0.035em;\">Public preparedness \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:20.7427em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">Mpox/smallpox vaccine sale \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0119em;top:20.7427em;\"><span class=\"stl_277 stl_15 stl_141\">3,206,186 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8175em;top:20.7427em;\"><span class=\"stl_277 stl_15 stl_510\">5,027,001 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.7589em;\"><span class=\"stl_269 stl_12 stl_390\" style=\"word-spacing:-0.0372em;\">Sale of goods \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7538em;top:21.7589em;\"><span class=\"stl_269 stl_12 stl_535\" style=\"word-spacing:1.1767em;\">5,492,771 6,904,073 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.3902em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">Contract work \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4513em;top:23.3902em;\"><span class=\"stl_277 stl_15 stl_420\">223,435 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2438em;top:23.3902em;\"><span class=\"stl_277 stl_15 stl_442\">158,267 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.4064em;\"><span class=\"stl_269 stl_12 stl_93\" style=\"word-spacing:-0.0389em;\">Sale of services \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2832em;top:24.4064em;\"><span class=\"stl_269 stl_12 stl_207\">223,435 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0832em;top:24.4064em;\"><span class=\"stl_269 stl_12 stl_307\">158,267 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.032em;\"><span class=\"stl_269 stl_12 stl_181\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7744em;top:26.032em;\"><span class=\"stl_269 stl_12 stl_266\">5,716,206 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5488em;top:26.032em;\"><span class=\"stl_269 stl_12 stl_174\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.6577em;\"><span class=\"stl_269 stl_12 stl_69\" style=\"word-spacing:-0.0278em;\">Total revenue includes: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.6852em;\"><span class=\"stl_277 stl_15 stl_275\" 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:31.0982em;top:28.6852em;\"><span class=\"stl_277 stl_15 stl_336\">5,486 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9332em;top:28.6852em;\"><span class=\"stl_277 stl_15 stl_419\">5,016 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.2902em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">Other product sale consists of the following: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.1233em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:31.1233em;\"><span class=\"stl_353 stl_15 stl_54\" 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:31.9564em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:31.9564em;\"><span class=\"stl_353 stl_15 stl_54\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:11.9583em;\"><span class=\"stl_269 stl_12 stl_21\" style=\"word-spacing:-0.034em;\">Geographic split of revenue: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_190\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9827em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_460\">2,702,900 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.787em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_143\">2,577,081 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_92\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4739em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_202\">972,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3389em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_344\">714,136 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_74\">Canada \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4752em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_169\">493,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7839em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_156\">1,556,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_35\">France \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4814em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_307\">268,766 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2683em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_393\">740,256 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_264\" style=\"word-spacing:-0.0389em;\">Saudi Arabia \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4783em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_174\">265,730 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9039em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_314\">4,839 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:18.0952em;\"><span class=\"stl_277 stl_15 stl_95\">Belgium \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5702em;top:18.0952em;\"><span class=\"stl_277 stl_15 stl_664\">218,193 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1789em;top:18.0952em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.117em;\"><span class=\"stl_277 stl_15 stl_92\">Singapore \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4895em;top:19.117em;\"><span class=\"stl_277 stl_15 stl_161\">124,649 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5858em;top:19.117em;\"><span class=\"stl_277 stl_15 stl_101\">42,041 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.1389em;\"><span class=\"stl_277 stl_15 stl_422\">Finland \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7808em;top:20.1389em;\"><span class=\"stl_277 stl_15 stl_216\">98,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6064em;top:20.1389em;\"><span class=\"stl_277 stl_15 stl_127\">15,720 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.1608em;\"><span class=\"stl_277 stl_15 stl_290\">Netherlands \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8639em;top:21.1608em;\"><span class=\"stl_277 stl_15 stl_686\">69,793 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6183em;top:21.1608em;\"><span class=\"stl_277 stl_15 stl_688\">39,325 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.1827em;\"><span class=\"stl_277 stl_15 stl_32\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7995em;top:22.1827em;\"><span class=\"stl_277 stl_15 stl_58\">52,591 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.312em;top:22.1827em;\"><span class=\"stl_277 stl_15 stl_587\">107,738 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.2045em;\"><span class=\"stl_277 stl_15 stl_29\">Sweden \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8252em;top:23.2045em;\"><span class=\"stl_277 stl_15 stl_135\">49,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5895em;top:23.2045em;\"><span class=\"stl_277 stl_15 stl_227\">71,966 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.2264em;\"><span class=\"stl_277 stl_15 stl_226\">Taiwan \u00a0</span></div><div class=\"stl_01\" style=\"left:64.782em;top:24.2264em;\"><span class=\"stl_277 stl_15 stl_447\">40,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5908em;top:24.2264em;\"><span class=\"stl_277 stl_15 stl_424\">53,796 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.2483em;\"><span class=\"stl_277 stl_15 stl_30\">Spain \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3989em;top:25.2483em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.257em;top:25.2483em;\"><span class=\"stl_277 stl_15 stl_205\">429,664 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:26.2702em;\"><span class=\"stl_277 stl_15 stl_146\">Australia \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3983em;top:26.2702em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.2783em;top:26.2702em;\"><span class=\"stl_277 stl_15 stl_122\">338,076 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:27.292em;\"><span class=\"stl_277 stl_15 stl_473\" style=\"word-spacing:-0.0359em;\">Other geographic markets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4958em;top:27.292em;\"><span class=\"stl_277 stl_15 stl_120\">359,299 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2639em;top:27.292em;\"><span class=\"stl_277 stl_15 stl_461\">371,663 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:28.912em;\"><span class=\"stl_269 stl_12 stl_181\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7895em;top:28.912em;\"><span class=\"stl_269 stl_12 stl_266\">5,716,206 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5639em;top:28.912em;\"><span class=\"stl_269 stl_12 stl_174\">7,062,340 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8586": {
   "value": "<div class=\"stl_01\" style=\"left:38.7506em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_307\" style=\"word-spacing:0.0033em;\">Note 4 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7506em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_346\" style=\"word-spacing:0.0068em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.6411em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">Cost of goods sold \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0052em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_357\">1,580,276 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7514em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_294\">1,608,263 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_90\" style=\"word-spacing:-0.0344em;\">Contract costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4883em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_643\">152,267 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2514em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_484\">126,877 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_164\" style=\"word-spacing:-0.0365em;\">Other production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5095em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_572\">847,456 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3183em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_689\">426,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_89\" style=\"word-spacing:-0.0383em;\">Amortization of product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5445em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_687\">317,449 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2489em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_291\">298,029 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.4073em;\"><span class=\"stl_269 stl_12 stl_378\" style=\"word-spacing:-0.0355em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7627em;top:23.4073em;\"><span class=\"stl_269 stl_12 stl_295\">2,897,448 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5645em;top:23.4073em;\"><span class=\"stl_269 stl_12 stl_268\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:25.2542em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">Other production costs primarily consist of un-allocated \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:26.0873em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0347em;\">costs, including the cost of idle manufacturing capacity \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:26.9204em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">and cost of unsuccessful production runs, plus write- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:27.7536em;\"><span class=\"stl_353 stl_15 stl_183\">downs. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.4204em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">Net write-downs reflect write down of products and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:30.2536em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">material capitalized as inventory and amounted to DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:31.0867em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">141.3 million. The amount is primarily explained by \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:31.9198em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">write-down of MVA-BN batches failing final tests. See \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:32.7529em;\"><span class=\"stl_353 stl_15 stl_79\" style=\"word-spacing:-0.0216em;\">note 18. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:25.2529em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0344em;\">The remaining part of Other production costs was \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:26.0861em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">impacted by factors like water damage at the Kvist- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:26.9192em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">gaard site, cost of switching campaigns due to the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:27.7523em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">tech-transfer program, full-year effect of the Bern site \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:28.5854em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.035em;\">and later than expected ramping up for chikungunya \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:29.4186em;\"><span class=\"stl_353 stl_15 stl_264\">manufacturing. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:31.0854em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">The product rights to Rabipur/RabAvert and Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:31.9186em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">were amortized with DKK 278.9 million (DKK 272.9 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:32.7517em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">million). The product rights for Vivotif and Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:33.5848em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">were amortized with DKK 38.5 million (DKK 25.1 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:34.4179em;\"><span class=\"stl_353 stl_15 stl_292\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_307\" style=\"word-spacing:0.0033em;\">Note 5 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_651\" style=\"word-spacing:0.0071em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:28.702em;top:16.0517em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3314em;top:17.1573em;\"><span class=\"stl_269 stl_12 stl_96\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2526em;top:17.1573em;\"><span class=\"stl_269 stl_12 stl_96\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:23.4664em;top:17.9073em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3876em;top:17.9073em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7614em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_39\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8076em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_285\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5526em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_391\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7195em;top:19.4129em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:23.0633em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0239em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9839em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_140\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:23.837em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_366\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7583em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_366\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_392\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8464em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_113\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7676em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_113\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_53\" style=\"word-spacing:-0.0253em;\">Gross Profit \u00a0</span></div><div class=\"stl_01\" style=\"left:23.5826em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_209\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1889em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.5039em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_209\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.337em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_118\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.197em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2583em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_118\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7808em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_217\">2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3083em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_152\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.767em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_130\">1,670,397 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.267em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_140\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.1883em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_140\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_54\" style=\"word-spacing:-0.0297em;\">Total operating costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6526em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_149\">3,100,507 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.1445em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_138\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4951em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_212\">2,542,824 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_25\" style=\"word-spacing:-0.0312em;\">Income before interest and tax (EBIT) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6126em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_58\">1,502,539 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9389em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_737\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4914em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_388\">2,060,222 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_55\">EBITDA \u00a0</span></div><div class=\"stl_01\" style=\"left:23.607em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_470\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1895em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.5283em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_470\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:-0.0307em;\">Net result for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6839em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_644\">1,475,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9389em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_737\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5139em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_478\">2,032,872 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8587": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_180\" 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_353 stl_15 stl_164\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_289\" 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_353 stl_15 stl_96\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">are recognized. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_290\" 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_353 stl_15 stl_458\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_24\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_165\" 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_353 stl_15 stl_285\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_194\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_284\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_243\" 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_353 stl_15 stl_30\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">ment costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_353 stl_15 stl_274\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_30\" 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_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">transferred under \"Contract costs recognized as produ</span><span class=\"stl_353 stl_15 stl_574\">c</span><span class=\"stl_353 stl_15 stl_574\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3681em;\"><span class=\"stl_353 stl_15 stl_55\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">final and binding right to the grant has been obtained. \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Administrative costs include costs of Group Manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">ment, staff functions, administrative personnel, office \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">costs, rent, short-term lease payments and depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">not relating specifically to production, research and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">development or sales and distribution. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_23 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">Interest expenses are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">statement at the amounts relating to the financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">year. Financial expenses also include adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">of net present value of the deferred consideration, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">cf. note 24, negative value adjustments of financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">instruments and securities and net currency losses. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8585": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.2133em;\"><span class=\"stl_352 stl_12 stl_90\" 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_352 stl_12 stl_285\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">sion until filling as final product. The filling takes \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3845em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">place either at the Company's facility in Kvistgaard or \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.2177em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0256em;\">at CMO's (a bill-and-hold arrangement). Revenue is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0508em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0255em;\">recognized once the batches are releasable according to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8839em;\"><span class=\"stl_353 stl_15 stl_74\" style=\"word-spacing:-0.036em;\">contract with BARDA. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5508em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0291em;\">Payment is due within 30 days after invoicing. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_101\" style=\"word-spacing:0.002em;\">Note 28 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_106\" style=\"word-spacing:0.0129em;\">Prepayment from customers \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">Prepayments are recognized under liabilities and will \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">be recognized in the income statement as the delivery \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0305em;\">of paid products takes place. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.1411em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:15.1354em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:15.1354em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.8254em;\"><span class=\"stl_277 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">Prepayment from customers as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3995em;top:16.8254em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:70.1789em;top:16.8254em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8473em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">Prepayments received during the year \u00a0</span></div><div class=\"stl_01\" style=\"left:64.497em;top:17.8473em;\"><span class=\"stl_277 stl_15 stl_136\">131,408 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:17.8473em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:18.8636em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:-0.0308em;\">Prepayment from customers as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3289em;top:18.8636em;\"><span class=\"stl_269 stl_12 stl_643\">131,408 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1708em;top:18.8636em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.7104em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0299em;\">As of December 31, 2024, the majority of prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:21.5436em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">from customers were received from BARDA. Addition- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:22.3767em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0257em;\">ally, prepayments were also received for a chikungunya \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:23.2098em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0257em;\">clinical study. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:24.8767em;\"><span class=\"stl_353 stl_15 stl_67\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8598": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_307\" style=\"word-spacing:0.0033em;\">Note 6 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_136\" style=\"word-spacing:0.0134em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:10.2738em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:10.2738em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:11.9638em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0296em;\">Research and development costs incurred this year \u00a0</span></div><div class=\"stl_01\" style=\"left:29.9925em;top:11.9638em;\"><span class=\"stl_277 stl_15 stl_525\">1,014,777 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8575em;top:11.9638em;\"><span class=\"stl_277 stl_15 stl_486\">1,797,274 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:13.5895em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0333em;\">Of which: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:14.6113em;\"><span class=\"stl_277 stl_15 stl_288\" style=\"word-spacing:-0.0281em;\">Contract costs recognized as production costs (note 4) \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2675em;top:14.6113em;\"><span class=\"stl_277 stl_15 stl_133\">(152,267) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0307em;top:14.6113em;\"><span class=\"stl_277 stl_15 stl_307\">(126,877) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:15.6332em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0327em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3838em;top:15.6332em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.275em;top:15.6332em;\"><span class=\"stl_277 stl_15 stl_152\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.2532em;\"><span class=\"stl_269 stl_12 stl_92\" style=\"word-spacing:-0.0313em;\">Research and development costs recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3013em;top:17.2532em;\"><span class=\"stl_269 stl_12 stl_690\" style=\"word-spacing:1.1587em;\">862,510 2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.2976em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0348em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3251em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:20.3251em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7463em;top:20.3251em;\"><span class=\"stl_277 stl_15 stl_460\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:21.347em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Intangible assets in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3825em;top:21.347em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.5657em;top:21.347em;\"><span class=\"stl_277 stl_15 stl_27\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:22.3688em;\"><span class=\"stl_277 stl_15 stl_54\">Prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3819em;top:22.3688em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2438em;top:22.3688em;\"><span class=\"stl_277 stl_15 stl_266\">456,551 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:23.3907em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3813em;top:23.3907em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.0282em;top:23.3907em;\"><span class=\"stl_277 stl_15 stl_307\">(806,420) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:24.4126em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3813em;top:24.4126em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.0738em;top:24.4126em;\"><span class=\"stl_277 stl_15 stl_581\">(521,936) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:25.4288em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0348em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3732em;top:25.4288em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.1088em;top:25.4288em;\"><span class=\"stl_269 stl_12 stl_138\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:27.6888em;\"><span class=\"stl_352 stl_12 stl_378\" style=\"word-spacing:-0.0356em;\">San Diego site \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:28.5276em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">In December 2024, Bavarian Nordic made the stra- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:29.3607em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">tegic decision to close its San Diego site. This decision \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:30.1938em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">was driven by the need to streamline operations and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:31.027em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0277em;\">optimize resources. The closure of the San Diego site \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:31.8601em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">resulted in a one-time restructuring cost of DKK 80 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:32.6932em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0317em;\">million, which has been included in the research and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:33.5263em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0279em;\">development expenses for the year. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:35.1876em;\"><span class=\"stl_352 stl_12 stl_433\" style=\"word-spacing:-0.0336em;\">ABNCoV2 development program 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:36.0263em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0325em;\">Following the Phase 3 results announced in August \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:36.8595em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">2023, where ABNCoV2 demonstrated a reduced level of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:37.6926em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">neutralizing antibodies against a circulating variant, the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.73em;top:27.6926em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">asset no longer represented a commercial opportunity \u00a0</span></div><div class=\"stl_01\" style=\"left:21.73em;top:28.5257em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">for Bavarian Nordic as the regulators, EMA and FDA, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.73em;top:29.3588em;\"><span class=\"stl_353 stl_15 stl_180\" style=\"word-spacing:-0.0238em;\">could not accept a submission for licensure. Therefore \u00a0</span></div><div class=\"stl_01\" style=\"left:21.73em;top:30.192em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">Management decided to fully write-down all assets \u00a0</span></div><div class=\"stl_01\" style=\"left:21.73em;top:31.0251em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">and liabilities related to the development program. The \u00a0</span></div><div class=\"stl_01\" style=\"left:21.73em;top:31.8582em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">net write-down amounted to DKK 558 million and was \u00a0</span></div><div class=\"stl_01\" style=\"left:21.73em;top:32.6913em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">recognized as an impairment loss and included as part \u00a0</span></div><div class=\"stl_01\" style=\"left:21.73em;top:33.5245em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0277em;\">of the research and development costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.73em;top:35.1913em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">See note 31 for a summarized income statement and a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.73em;top:36.0245em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">summarized financial position showing how the write- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.73em;top:36.8576em;\"><span class=\"stl_353 stl_15 stl_164\" style=\"word-spacing:-0.0365em;\">down has impacted the Annual Report. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:14.7274em;\"><span class=\"stl_352 stl_12 stl_85\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:15.5662em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0247em;\">Under the Group\u2019s accounting policies and in accordance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.3993em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">with common industry practice, development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.2324em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">are generally expensed in the year they occur. This \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:18.0656em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">approach is taken due to the uncertainty surrounding \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:18.8987em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">the future benefits of these costs until commercial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:19.7318em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">approval is obtained. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.0439em;\"><span class=\"stl_352 stl_12 stl_85\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8827em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.7158em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">Emergent BioSolutions included acquisition of a late- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5489em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">stage vaccine candidate for Chikungunya virus. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.382em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">initial acquisition price amounted to DKK 788 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.2152em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">No further cost will be capitalized. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.2152em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">The agreement with Emergent BioSolutions also \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0483em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">included milestone payments totaling USD 80 million \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8814em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">related to submission and approval of Biologics License \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.7145em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Application (BLA) to FDA and Marketing Authorization \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5477em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">Application to EMA for the chikungunya development \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3808em;\"><span class=\"stl_353 stl_15 stl_275\">asset. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.0477em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">At initial recognition the net present value of probable \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8808em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">future development milestone payments to Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.7139em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">BioSolutions Inc. amounted to DKK 499 million and was \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.547em;\"><span class=\"stl_353 stl_15 stl_64\" style=\"word-spacing:-0.0221em;\">recognized as deferred consideration (note 24). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.2083em;\"><span class=\"stl_352 stl_12 stl_30\" style=\"word-spacing:-0.0324em;\">Developed production processes \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.047em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Developed production processes consist of the the as-is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8802em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">technology transfer from GSK to Bavarian Nordic of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.7133em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0283em;\">the manufacturing process for Rabipur/RabAvert and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.5464em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">Encepur. The Company has incurred material costs in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.3795em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">terms of internal labour and consultancy to handle the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.2127em;\"><span class=\"stl_353 stl_15 stl_473\" style=\"word-spacing:-0.0359em;\">technology transfer and has gained crucial knowledge \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.0458em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">about the manufacturing process. These costs are capi- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.8789em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">talized as an intangible asset. As per December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.712em;\"><span class=\"stl_353 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">the capitalized costs amounts to DKK 344 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_547\" style=\"word-spacing:-0.0035em;\">Note 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_393\" 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_353 stl_15 stl_285\" style=\"word-spacing:-0.0325em;\">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_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">2023, where ABNCoV2 demonstrated a reduced level of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:11.8852em;\"><span class=\"stl_353 stl_15 stl_194\" 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_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">asset no longer represented a commercial opportunity \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:13.5514em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">for Bavarian Nordic as the regulators, EMA and FDA, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:10.2183em;\"><span class=\"stl_353 stl_15 stl_42\" style=\"word-spacing:-0.0235em;\">could not accept a submission for licensure. Therefore, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:11.0514em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Management decided to fully write-down all assets and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:11.8845em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">liabilities related to the development program as per \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:12.7177em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0297em;\">December 31, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:28.702em;top:16.0517em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3314em;top:17.1573em;\"><span class=\"stl_269 stl_12 stl_96\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2526em;top:17.1573em;\"><span class=\"stl_269 stl_12 stl_96\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:23.4664em;top:17.9073em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3876em;top:17.9073em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7614em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_39\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8076em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_285\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5526em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_391\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7195em;top:19.4129em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:23.0633em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0239em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9839em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_140\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:23.837em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_366\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7583em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_366\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_392\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8464em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_113\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7676em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_113\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_53\" style=\"word-spacing:-0.0253em;\">Gross Profit \u00a0</span></div><div class=\"stl_01\" style=\"left:23.5826em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_209\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1889em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.5039em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_209\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.337em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_118\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.197em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2583em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_118\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7808em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_217\">2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3083em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_152\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.767em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_130\">1,670,397 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.267em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_140\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.1883em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_140\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_54\" style=\"word-spacing:-0.0297em;\">Total operating costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6526em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_149\">3,100,507 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.1445em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_138\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4951em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_212\">2,542,824 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_25\" style=\"word-spacing:-0.0312em;\">Income before interest and tax (EBIT) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6126em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_58\">1,502,539 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9389em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_737\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4914em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_388\">2,060,222 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_55\">EBITDA \u00a0</span></div><div class=\"stl_01\" style=\"left:23.607em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_470\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1895em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.5283em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_470\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:-0.0307em;\">Net result for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6839em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_644\">1,475,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9389em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_737\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5139em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_478\">2,032,872 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.9017em;top:11.6401em;\"><span class=\"stl_269 stl_12 stl_391\">Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:67.823em;top:11.6401em;\"><span class=\"stl_269 stl_12 stl_391\">Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:58.113em;top:12.3901em;\"><span class=\"stl_269 stl_12 stl_422\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0342em;top:12.3901em;\"><span class=\"stl_269 stl_12 stl_422\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7817em;top:13.1401em;\"><span class=\"stl_269 stl_12 stl_39\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:62.828em;top:13.1401em;\"><span class=\"stl_269 stl_12 stl_285\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5736em;top:13.1401em;\"><span class=\"stl_269 stl_12 stl_391\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7405em;top:13.8958em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0836em;top:13.8901em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:62.0442em;top:13.8901em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:67.0048em;top:13.8901em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7398em;top:15.5801em;\"><span class=\"stl_277 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">Intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8367em;top:15.5801em;\"><span class=\"stl_277 stl_15 stl_296\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.818em;top:15.5801em;\"><span class=\"stl_277 stl_15 stl_346\">1,429,488 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8617em;top:15.5801em;\"><span class=\"stl_277 stl_15 stl_585\">7,911,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7398em;top:16.602em;\"><span class=\"stl_277 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">Property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:57.9205em;top:16.602em;\"><span class=\"stl_277 stl_15 stl_335\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2173em;top:16.602em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.8417em;top:16.602em;\"><span class=\"stl_277 stl_15 stl_335\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:17.6239em;\"><span class=\"stl_277 stl_15 stl_63\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:58.4267em;top:17.6239em;\"><span class=\"stl_277 stl_15 stl_664\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2173em;top:17.6239em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.348em;top:17.6239em;\"><span class=\"stl_277 stl_15 stl_664\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:18.6458em;\"><span class=\"stl_277 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">Financial assets \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7486em;top:18.6458em;\"><span class=\"stl_277 stl_15 stl_730\">15,741 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3398em;top:18.6458em;\"><span class=\"stl_277 stl_15 stl_117\">235,711 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2742em;top:18.6458em;\"><span class=\"stl_277 stl_15 stl_120\">251,452 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:19.662em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0328em;\">Total non-current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7036em;top:19.662em;\"><span class=\"stl_269 stl_12 stl_117\">8,950,162 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6455em;top:19.662em;\"><span class=\"stl_269 stl_12 stl_123\">1,665,199 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2455em;top:19.662em;\"><span class=\"stl_269 stl_12 stl_122\">10,615,361 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:21.2933em;\"><span class=\"stl_277 stl_15 stl_53\">Inventories \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8442em;top:21.2933em;\"><span class=\"stl_277 stl_15 stl_303\">1,643,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2173em;top:21.2933em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.7655em;top:21.2933em;\"><span class=\"stl_277 stl_15 stl_303\">1,643,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:22.3151em;\"><span class=\"stl_277 stl_15 stl_66\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8448em;top:22.3151em;\"><span class=\"stl_277 stl_15 stl_101\">1,891,834 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.2598em;top:22.3151em;\"><span class=\"stl_277 stl_15 stl_409\">220,840 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8898em;top:22.3151em;\"><span class=\"stl_277 stl_15 stl_706\">2,112,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7398em;top:23.337em;\"><span class=\"stl_277 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">Securities, cash and cash equivalents \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8792em;top:23.337em;\"><span class=\"stl_277 stl_15 stl_129\">1,867,481 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2173em;top:23.337em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.8005em;top:23.337em;\"><span class=\"stl_277 stl_15 stl_129\">1,867,481 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:24.3533em;\"><span class=\"stl_269 stl_12 stl_48\" style=\"word-spacing:-0.0263em;\">Total current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6386em;top:24.3533em;\"><span class=\"stl_269 stl_12 stl_321\">5,403,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.1017em;top:24.3533em;\"><span class=\"stl_269 stl_12 stl_52\">220,840 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5498em;top:24.3533em;\"><span class=\"stl_269 stl_12 stl_470\">5,623,891 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:25.9789em;\"><span class=\"stl_269 stl_12 stl_56\" style=\"word-spacing:-0.0244em;\">Total assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.3186em;top:25.9789em;\"><span class=\"stl_269 stl_12 stl_142\">14,353,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5817em;top:25.9789em;\"><span class=\"stl_269 stl_12 stl_545\">1,886,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2311em;top:25.9789em;\"><span class=\"stl_269 stl_12 stl_525\">16,239,252 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:27.6101em;\"><span class=\"stl_277 stl_15 stl_377\">Equity \u00a0</span></div><div class=\"stl_01\" style=\"left:57.5911em;top:27.6101em;\"><span class=\"stl_277 stl_15 stl_657\">10,339,932 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3292em;top:27.6101em;\"><span class=\"stl_277 stl_15 stl_152\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5298em;top:27.6101em;\"><span class=\"stl_277 stl_15 stl_376\">10,897,615 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:28.632em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8536em;top:28.632em;\"><span class=\"stl_277 stl_15 stl_382\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3211em;top:28.632em;\"><span class=\"stl_277 stl_15 stl_107\">521,936 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7392em;top:28.632em;\"><span class=\"stl_277 stl_15 stl_451\">2,898,925 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7386em;top:29.6539em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">Other non-current liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:58.3098em;top:29.6539em;\"><span class=\"stl_277 stl_15 stl_211\">208,556 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.2667em;top:29.6539em;\"><span class=\"stl_277 stl_15 stl_329\">806,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8348em;top:29.6539em;\"><span class=\"stl_277 stl_15 stl_444\">1,014,976 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7386em;top:30.6758em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">Other current liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8986em;top:30.6758em;\"><span class=\"stl_277 stl_15 stl_400\">1,427,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2167em;top:30.6758em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.8198em;top:30.6758em;\"><span class=\"stl_277 stl_15 stl_658\">1,427,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7386em;top:31.692em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0348em;\">Total equity and liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:57.318em;top:31.692em;\"><span class=\"stl_269 stl_12 stl_142\">14,353,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5811em;top:31.692em;\"><span class=\"stl_269 stl_12 stl_545\">1,886,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2305em;top:31.692em;\"><span class=\"stl_269 stl_12 stl_525\">16,239,252 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2133em;\"><span class=\"stl_352 stl_12 stl_289\" 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_353 stl_15 stl_278\" 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_353 stl_15 stl_16\" 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_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">following components: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3852em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:14.3783em;\"><span class=\"stl_773 stl_774 stl_458\" style=\"word-spacing:-0.0351em;\">Intangible assets DKK 1,429 million: </span><span class=\"stl_353 stl_15 stl_223\" style=\"word-spacing:-0.0378em;\">Included the \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:15.2183em;\"><span class=\"stl_353 stl_15 stl_275\" 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_353 stl_15 stl_75\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:21.0439em;\"><span class=\"stl_773 stl_774 stl_392\" style=\"word-spacing:-0.0346em;\">Financial assets DKK 236 million: </span><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">commercial launch. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.217em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:10.2102em;\"><span class=\"stl_773 stl_774 stl_74\" style=\"word-spacing:-0.0339em;\">Receivables DKK 221 million: </span><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0273em;\">Commercial batches \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:11.0502em;\"><span class=\"stl_353 stl_15 stl_25\" 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_353 stl_15 stl_63\">process. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5502em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:13.5433em;\"><span class=\"stl_773 stl_774 stl_96\" style=\"word-spacing:-0.0331em;\">Deferred consideration DKK 522 million: </span><span class=\"stl_353 stl_15 stl_775\" style=\"word-spacing:-0.059em;\">As part \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:14.3833em;\"><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_288\" 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_353 stl_15 stl_35\" 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_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">milestone scenario. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.5495em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:18.5427em;\"><span class=\"stl_773 stl_774 stl_264\" style=\"word-spacing:-0.0374em;\">Other non-current liabilities DKK 806 million: </span><span class=\"stl_353 stl_15 stl_39\">The \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:19.3827em;\"><span class=\"stl_353 stl_15 stl_290\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_223\" 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_353 stl_15 stl_67\">cost. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8596": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_290\" 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_353 stl_15 stl_458\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_24\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_165\" 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_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">other indirect costs. \u00a0</span></div>",
   "dimensions": {
    "concept": "bava:DescriptionOfAccountingPolicyForSalesAndDistributionCosts",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8599": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_194\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_284\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_243\" 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_353 stl_15 stl_30\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">ment costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_353 stl_15 stl_274\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_30\" 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_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">transferred under \"Contract costs recognized as produ</span><span class=\"stl_353 stl_15 stl_574\">c</span><span class=\"stl_353 stl_15 stl_574\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3681em;\"><span class=\"stl_353 stl_15 stl_55\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_433\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8602": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_194\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_284\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_25\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_243\" 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_353 stl_15 stl_30\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">ment costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0356em;\"><span class=\"stl_353 stl_15 stl_274\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_30\" 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_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">transferred under \"Contract costs recognized as produ</span><span class=\"stl_353 stl_15 stl_574\">c</span><span class=\"stl_353 stl_15 stl_574\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3681em;\"><span class=\"stl_353 stl_15 stl_55\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">final and binding right to the grant has been obtained. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8614": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_307\" style=\"word-spacing:0.0033em;\">Note 7 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_147\" style=\"word-spacing:0.0127em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Administrative costs include costs of Group Manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">ment, staff functions, administrative personnel, office \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">costs, rent, short-term lease payments and depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">not relating specifically to production, research and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">development or sales and distribution. \u00a0</span></div><div class=\"stl_01\" style=\"left:28.702em;top:16.0517em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3314em;top:17.1573em;\"><span class=\"stl_269 stl_12 stl_96\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2526em;top:17.1573em;\"><span class=\"stl_269 stl_12 stl_96\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:23.4664em;top:17.9073em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3876em;top:17.9073em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7614em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_39\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8076em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_285\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5526em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_391\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7195em;top:19.4129em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:23.0633em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0239em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9839em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_140\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:23.837em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_366\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7583em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_366\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_392\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8464em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_113\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7676em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_113\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_53\" style=\"word-spacing:-0.0253em;\">Gross Profit \u00a0</span></div><div class=\"stl_01\" style=\"left:23.5826em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_209\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1889em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.5039em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_209\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.337em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_118\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.197em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2583em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_118\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7808em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_217\">2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3083em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_152\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.767em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_130\">1,670,397 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.267em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_140\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.1883em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_140\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_54\" style=\"word-spacing:-0.0297em;\">Total operating costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6526em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_149\">3,100,507 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.1445em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_138\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4951em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_212\">2,542,824 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_25\" style=\"word-spacing:-0.0312em;\">Income before interest and tax (EBIT) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6126em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_58\">1,502,539 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9389em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_737\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4914em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_388\">2,060,222 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_55\">EBITDA \u00a0</span></div><div class=\"stl_01\" style=\"left:23.607em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_470\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1895em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.5283em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_470\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:-0.0307em;\">Net result for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6839em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_644\">1,475,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9389em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_737\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5139em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_478\">2,032,872 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8608": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:10.2738em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:10.2738em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:11.9638em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0296em;\">Research and development costs incurred this year \u00a0</span></div><div class=\"stl_01\" style=\"left:29.9925em;top:11.9638em;\"><span class=\"stl_277 stl_15 stl_525\">1,014,777 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8575em;top:11.9638em;\"><span class=\"stl_277 stl_15 stl_486\">1,797,274 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:13.5895em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0333em;\">Of which: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:14.6113em;\"><span class=\"stl_277 stl_15 stl_288\" style=\"word-spacing:-0.0281em;\">Contract costs recognized as production costs (note 4) \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2675em;top:14.6113em;\"><span class=\"stl_277 stl_15 stl_133\">(152,267) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0307em;top:14.6113em;\"><span class=\"stl_277 stl_15 stl_307\">(126,877) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:15.6332em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0327em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3838em;top:15.6332em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.275em;top:15.6332em;\"><span class=\"stl_277 stl_15 stl_152\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.2532em;\"><span class=\"stl_269 stl_12 stl_92\" style=\"word-spacing:-0.0313em;\">Research and development costs recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3013em;top:17.2532em;\"><span class=\"stl_269 stl_12 stl_690\" style=\"word-spacing:1.1587em;\">862,510 2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.2976em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0348em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3251em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:20.3251em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7463em;top:20.3251em;\"><span class=\"stl_277 stl_15 stl_460\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:21.347em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Intangible assets in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3825em;top:21.347em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.5657em;top:21.347em;\"><span class=\"stl_277 stl_15 stl_27\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:22.3688em;\"><span class=\"stl_277 stl_15 stl_54\">Prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3819em;top:22.3688em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2438em;top:22.3688em;\"><span class=\"stl_277 stl_15 stl_266\">456,551 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:23.3907em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3813em;top:23.3907em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.0282em;top:23.3907em;\"><span class=\"stl_277 stl_15 stl_307\">(806,420) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:24.4126em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3813em;top:24.4126em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.0738em;top:24.4126em;\"><span class=\"stl_277 stl_15 stl_581\">(521,936) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7219em;top:25.4288em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0348em;\">Impairment loss of ABNCoV2 development program \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3732em;top:25.4288em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.1088em;top:25.4288em;\"><span class=\"stl_269 stl_12 stl_138\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:10.2189em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0325em;\">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_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">2023, where ABNCoV2 demonstrated a reduced level of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:11.8852em;\"><span class=\"stl_353 stl_15 stl_194\" 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_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">asset no longer represented a commercial opportunity \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:13.5514em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">for Bavarian Nordic as the regulators, EMA and FDA, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:10.2183em;\"><span class=\"stl_353 stl_15 stl_42\" style=\"word-spacing:-0.0235em;\">could not accept a submission for licensure. Therefore, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:11.0514em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Management decided to fully write-down all assets and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:11.8845em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">liabilities related to the development program as per \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:12.7177em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0297em;\">December 31, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:28.702em;top:16.0517em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3314em;top:17.1573em;\"><span class=\"stl_269 stl_12 stl_96\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2526em;top:17.1573em;\"><span class=\"stl_269 stl_12 stl_96\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:23.4664em;top:17.9073em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3876em;top:17.9073em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7614em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_39\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8076em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_285\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5526em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_391\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7195em;top:19.4129em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:23.0633em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0239em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9839em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_140\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:23.837em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_366\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7583em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_366\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_392\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8464em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_113\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7676em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_113\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_53\" style=\"word-spacing:-0.0253em;\">Gross Profit \u00a0</span></div><div class=\"stl_01\" style=\"left:23.5826em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_209\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1889em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.5039em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_209\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.337em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_118\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.197em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2583em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_118\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7808em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_217\">2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3083em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_152\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.767em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_130\">1,670,397 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.267em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_140\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.1883em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_140\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_54\" style=\"word-spacing:-0.0297em;\">Total operating costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6526em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_149\">3,100,507 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.1445em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_138\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4951em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_212\">2,542,824 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_25\" style=\"word-spacing:-0.0312em;\">Income before interest and tax (EBIT) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6126em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_58\">1,502,539 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9389em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_737\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4914em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_388\">2,060,222 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_55\">EBITDA \u00a0</span></div><div class=\"stl_01\" style=\"left:23.607em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_470\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1895em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.5283em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_470\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:-0.0307em;\">Net result for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6839em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_644\">1,475,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9389em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_737\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5139em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_478\">2,032,872 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.9017em;top:11.6401em;\"><span class=\"stl_269 stl_12 stl_391\">Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:67.823em;top:11.6401em;\"><span class=\"stl_269 stl_12 stl_391\">Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:58.113em;top:12.3901em;\"><span class=\"stl_269 stl_12 stl_422\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0342em;top:12.3901em;\"><span class=\"stl_269 stl_12 stl_422\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7817em;top:13.1401em;\"><span class=\"stl_269 stl_12 stl_39\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:62.828em;top:13.1401em;\"><span class=\"stl_269 stl_12 stl_285\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5736em;top:13.1401em;\"><span class=\"stl_269 stl_12 stl_391\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7405em;top:13.8958em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0836em;top:13.8901em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:62.0442em;top:13.8901em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:67.0048em;top:13.8901em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7398em;top:15.5801em;\"><span class=\"stl_277 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">Intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8367em;top:15.5801em;\"><span class=\"stl_277 stl_15 stl_296\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.818em;top:15.5801em;\"><span class=\"stl_277 stl_15 stl_346\">1,429,488 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8617em;top:15.5801em;\"><span class=\"stl_277 stl_15 stl_585\">7,911,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7398em;top:16.602em;\"><span class=\"stl_277 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">Property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:57.9205em;top:16.602em;\"><span class=\"stl_277 stl_15 stl_335\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2173em;top:16.602em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.8417em;top:16.602em;\"><span class=\"stl_277 stl_15 stl_335\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:17.6239em;\"><span class=\"stl_277 stl_15 stl_63\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:58.4267em;top:17.6239em;\"><span class=\"stl_277 stl_15 stl_664\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2173em;top:17.6239em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.348em;top:17.6239em;\"><span class=\"stl_277 stl_15 stl_664\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:18.6458em;\"><span class=\"stl_277 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">Financial assets \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7486em;top:18.6458em;\"><span class=\"stl_277 stl_15 stl_730\">15,741 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3398em;top:18.6458em;\"><span class=\"stl_277 stl_15 stl_117\">235,711 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2742em;top:18.6458em;\"><span class=\"stl_277 stl_15 stl_120\">251,452 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:19.662em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0328em;\">Total non-current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7036em;top:19.662em;\"><span class=\"stl_269 stl_12 stl_117\">8,950,162 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6455em;top:19.662em;\"><span class=\"stl_269 stl_12 stl_123\">1,665,199 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2455em;top:19.662em;\"><span class=\"stl_269 stl_12 stl_122\">10,615,361 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:21.2933em;\"><span class=\"stl_277 stl_15 stl_53\">Inventories \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8442em;top:21.2933em;\"><span class=\"stl_277 stl_15 stl_303\">1,643,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2173em;top:21.2933em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.7655em;top:21.2933em;\"><span class=\"stl_277 stl_15 stl_303\">1,643,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:22.3151em;\"><span class=\"stl_277 stl_15 stl_66\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8448em;top:22.3151em;\"><span class=\"stl_277 stl_15 stl_101\">1,891,834 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.2598em;top:22.3151em;\"><span class=\"stl_277 stl_15 stl_409\">220,840 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8898em;top:22.3151em;\"><span class=\"stl_277 stl_15 stl_706\">2,112,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7398em;top:23.337em;\"><span class=\"stl_277 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">Securities, cash and cash equivalents \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8792em;top:23.337em;\"><span class=\"stl_277 stl_15 stl_129\">1,867,481 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2173em;top:23.337em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.8005em;top:23.337em;\"><span class=\"stl_277 stl_15 stl_129\">1,867,481 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:24.3533em;\"><span class=\"stl_269 stl_12 stl_48\" style=\"word-spacing:-0.0263em;\">Total current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6386em;top:24.3533em;\"><span class=\"stl_269 stl_12 stl_321\">5,403,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.1017em;top:24.3533em;\"><span class=\"stl_269 stl_12 stl_52\">220,840 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5498em;top:24.3533em;\"><span class=\"stl_269 stl_12 stl_470\">5,623,891 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:25.9789em;\"><span class=\"stl_269 stl_12 stl_56\" style=\"word-spacing:-0.0244em;\">Total assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.3186em;top:25.9789em;\"><span class=\"stl_269 stl_12 stl_142\">14,353,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5817em;top:25.9789em;\"><span class=\"stl_269 stl_12 stl_545\">1,886,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2311em;top:25.9789em;\"><span class=\"stl_269 stl_12 stl_525\">16,239,252 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:27.6101em;\"><span class=\"stl_277 stl_15 stl_377\">Equity \u00a0</span></div><div class=\"stl_01\" style=\"left:57.5911em;top:27.6101em;\"><span class=\"stl_277 stl_15 stl_657\">10,339,932 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3292em;top:27.6101em;\"><span class=\"stl_277 stl_15 stl_152\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5298em;top:27.6101em;\"><span class=\"stl_277 stl_15 stl_376\">10,897,615 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:28.632em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8536em;top:28.632em;\"><span class=\"stl_277 stl_15 stl_382\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3211em;top:28.632em;\"><span class=\"stl_277 stl_15 stl_107\">521,936 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7392em;top:28.632em;\"><span class=\"stl_277 stl_15 stl_451\">2,898,925 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7386em;top:29.6539em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">Other non-current liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:58.3098em;top:29.6539em;\"><span class=\"stl_277 stl_15 stl_211\">208,556 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.2667em;top:29.6539em;\"><span class=\"stl_277 stl_15 stl_329\">806,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8348em;top:29.6539em;\"><span class=\"stl_277 stl_15 stl_444\">1,014,976 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7386em;top:30.6758em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">Other current liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8986em;top:30.6758em;\"><span class=\"stl_277 stl_15 stl_400\">1,427,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2167em;top:30.6758em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.8198em;top:30.6758em;\"><span class=\"stl_277 stl_15 stl_658\">1,427,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7386em;top:31.692em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0348em;\">Total equity and liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:57.318em;top:31.692em;\"><span class=\"stl_269 stl_12 stl_142\">14,353,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5811em;top:31.692em;\"><span class=\"stl_269 stl_12 stl_545\">1,886,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2305em;top:31.692em;\"><span class=\"stl_269 stl_12 stl_525\">16,239,252 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2133em;\"><span class=\"stl_352 stl_12 stl_289\" 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_353 stl_15 stl_278\" 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_353 stl_15 stl_16\" 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_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">following components: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3852em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:14.3783em;\"><span class=\"stl_773 stl_774 stl_458\" style=\"word-spacing:-0.0351em;\">Intangible assets DKK 1,429 million: </span><span class=\"stl_353 stl_15 stl_223\" style=\"word-spacing:-0.0378em;\">Included the \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:15.2183em;\"><span class=\"stl_353 stl_15 stl_275\" 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_353 stl_15 stl_75\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:21.0439em;\"><span class=\"stl_773 stl_774 stl_392\" style=\"word-spacing:-0.0346em;\">Financial assets DKK 236 million: </span><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">commercial launch. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.217em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:10.2102em;\"><span class=\"stl_773 stl_774 stl_74\" style=\"word-spacing:-0.0339em;\">Receivables DKK 221 million: </span><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0273em;\">Commercial batches \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:11.0502em;\"><span class=\"stl_353 stl_15 stl_25\" 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_353 stl_15 stl_63\">process. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5502em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:13.5433em;\"><span class=\"stl_773 stl_774 stl_96\" style=\"word-spacing:-0.0331em;\">Deferred consideration DKK 522 million: </span><span class=\"stl_353 stl_15 stl_775\" style=\"word-spacing:-0.059em;\">As part \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:14.3833em;\"><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_288\" 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_353 stl_15 stl_35\" 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_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">milestone scenario. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.5495em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:18.5427em;\"><span class=\"stl_773 stl_774 stl_264\" style=\"word-spacing:-0.0374em;\">Other non-current liabilities DKK 806 million: </span><span class=\"stl_353 stl_15 stl_39\">The \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:19.3827em;\"><span class=\"stl_353 stl_15 stl_290\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_223\" 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_353 stl_15 stl_67\">cost. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfImpairmentLossAndReversalOfImpairmentLossExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8618": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_307\" style=\"word-spacing:0.0033em;\">Note 8 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_126\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">Wages and salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0719em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_691\">1,327,419 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7525em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_312\">1,026,464 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5825em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_692\">116,171 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5644em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_58\">68,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_94\" style=\"word-spacing:-0.0376em;\">Social security expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8125em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_110\">76,057 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5388em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_178\">52,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_22\" style=\"word-spacing:-0.0375em;\">Other staff expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.745em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_32\">88,440 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5507em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_402\">68,262 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.9963em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0313em;\">Share-based payment, see specification in note 30 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.775em;top:15.9963em;\"><span class=\"stl_277 stl_15 stl_207\">78,672 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5688em;top:15.9963em;\"><span class=\"stl_277 stl_15 stl_231\">55,477 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0125em;\"><span class=\"stl_269 stl_12 stl_51\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7619em;top:17.0125em;\"><span class=\"stl_269 stl_12 stl_27\">1,686,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5469em;top:17.0125em;\"><span class=\"stl_269 stl_12 stl_101\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:18.6382em;\"><span class=\"stl_269 stl_12 stl_289\" 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_15 stl_392\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4432em;top:19.6657em;\"><span class=\"stl_277 stl_15 stl_389\">793,584 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2244em;top:19.6657em;\"><span class=\"stl_277 stl_15 stl_389\">545,968 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:20.6876em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4588em;top:20.6876em;\"><span class=\"stl_277 stl_15 stl_169\">220,433 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2682em;top:20.6876em;\"><span class=\"stl_277 stl_15 stl_139\">148,016 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.7094em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5207em;top:21.7094em;\"><span class=\"stl_277 stl_15 stl_335\">391,617 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2275em;top:21.7094em;\"><span class=\"stl_277 stl_15 stl_429\">333,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.7313em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5363em;top:22.7313em;\"><span class=\"stl_277 stl_15 stl_680\">281,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2344em;top:22.7313em;\"><span class=\"stl_277 stl_15 stl_322\">209,564 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7532em;\"><span class=\"stl_277 stl_15 stl_96\" style=\"word-spacing:-0.0347em;\">Capitalized salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:23.7532em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.5825em;top:23.7532em;\"><span class=\"stl_277 stl_15 stl_124\">33,798 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.7694em;\"><span class=\"stl_269 stl_12 stl_51\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7619em;top:24.7694em;\"><span class=\"stl_269 stl_12 stl_27\">1,686,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5469em;top:24.7694em;\"><span class=\"stl_269 stl_12 stl_101\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.4007em;\"><span class=\"stl_277 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">Average number of employees converted to full-time \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1238em;top:26.4007em;\"><span class=\"stl_277 stl_15 stl_59\">1,529 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9063em;top:26.4007em;\"><span class=\"stl_277 stl_15 stl_161\">1,255 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.4225em;\"><span class=\"stl_277 stl_15 stl_35\" 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:31.1844em;top:27.4225em;\"><span class=\"stl_277 stl_15 stl_693\">1,611 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9125em;top:27.4225em;\"><span class=\"stl_277 stl_15 stl_106\">1,379 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:29.0275em;\"><span class=\"stl_353 stl_15 stl_297\" style=\"word-spacing:-0.0327em;\">The Group has mainly defined contribution plans and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:29.8607em;\"><span class=\"stl_353 stl_15 stl_79\" style=\"word-spacing:-0.0315em;\">pays regular fixed contributions to independent pension \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:30.6938em;\"><span class=\"stl_353 stl_15 stl_56\" style=\"word-spacing:-0.0344em;\">funds and insurance companies. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2244em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0313em;\">Staff costs include the following costs: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:13.5288em;\"><span class=\"stl_269 stl_12 stl_25\" style=\"word-spacing:-0.0311em;\">Board of Directors: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.5563em;\"><span class=\"stl_277 stl_15 stl_51\">Remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1233em;top:14.5563em;\"><span class=\"stl_277 stl_15 stl_536\">6,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9039em;top:14.5563em;\"><span class=\"stl_277 stl_15 stl_314\">6,345 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:15.5782em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1452em;top:15.5782em;\"><span class=\"stl_277 stl_15 stl_124\">2,070 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9245em;top:15.5782em;\"><span class=\"stl_277 stl_15 stl_124\">2,070 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.5944em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0343em;\">Remuneration to Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:64.9889em;top:16.5944em;\"><span class=\"stl_269 stl_12 stl_243\">8,560 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8145em;top:16.5944em;\"><span class=\"stl_269 stl_12 stl_38\">8,415 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:18.2201em;\"><span class=\"stl_269 stl_12 stl_289\" style=\"word-spacing:-0.0347em;\">Executive Management: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:19.2476em;\"><span class=\"stl_277 stl_15 stl_250\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8152em;top:19.2476em;\"><span class=\"stl_277 stl_15 stl_163\">13,227 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6233em;top:19.2476em;\"><span class=\"stl_277 stl_15 stl_374\">11,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1377em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_174\">9,884 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8808em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_53\">2,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6233em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_58\">797 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.4089em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_477\">705 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:22.3132em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1527em;top:22.3132em;\"><span class=\"stl_277 stl_15 stl_122\">1,832 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9639em;top:22.3132em;\"><span class=\"stl_277 stl_15 stl_423\">1,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.742em;top:23.335em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.9295em;top:23.335em;\"><span class=\"stl_277 stl_15 stl_601\">17,100 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5964em;top:23.335em;\"><span class=\"stl_277 stl_15 stl_163\">13,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:24.3513em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0348em;\">Corporate Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6327em;top:24.3513em;\"><span class=\"stl_269 stl_12 stl_60\">42,840 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.467em;top:24.3513em;\"><span class=\"stl_269 stl_12 stl_126\">29,536 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_250\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8252em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_142\">11,588 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5889em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_228\">12,622 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1202em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_49\">4,850 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9114em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_418\">2,639 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1633em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_688\">1,332 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9402em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_572\">1,471 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1314em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_57\">1,877 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8945em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_234\">2,228 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:30.0701em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.822em;top:30.0701em;\"><span class=\"stl_277 stl_15 stl_113\">15,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.612em;top:30.0701em;\"><span class=\"stl_277 stl_15 stl_110\">11,999 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:31.0919em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0351em;\">Salary and benefits in notice period \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8458em;top:31.0919em;\"><span class=\"stl_277 stl_15 stl_374\">19,966 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1814em;top:31.0919em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:32.1082em;\"><span class=\"stl_269 stl_12 stl_22\" style=\"word-spacing:-0.0374em;\">Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7514em;top:32.1082em;\"><span class=\"stl_269 stl_12 stl_694\">55,151 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.462em;top:32.1082em;\"><span class=\"stl_269 stl_12 stl_163\">30,959 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:33.7338em;\"><span class=\"stl_269 stl_12 stl_473\" style=\"word-spacing:-0.0358em;\">Remuneration to Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.707em;top:33.7338em;\"><span class=\"stl_269 stl_12 stl_575\">97,991 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4364em;top:33.7338em;\"><span class=\"stl_269 stl_12 stl_416\">60,495 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:35.3594em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:-0.0329em;\">Total management remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3214em;top:35.3594em;\"><span class=\"stl_269 stl_12 stl_174\">106,551 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4539em;top:35.3594em;\"><span class=\"stl_269 stl_12 stl_229\">68,910 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.1638em;\"><span class=\"stl_353 stl_15 stl_347\" 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_353 stl_15 stl_297\" 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_353 stl_15 stl_539\" 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_353 stl_15 stl_212\" style=\"word-spacing:-0.0271em;\">COO Russell Thirsk, CPO Anu Kerns, CCO JC May constitute \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3301em;\"><span class=\"stl_353 stl_15 stl_60\" style=\"word-spacing:-0.0328em;\">the Other Executive Management. CMO Laurence De \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1632em;\"><span class=\"stl_353 stl_15 stl_210\" style=\"word-spacing:-0.0273em;\">Moerlooze resigned in May 2024 and CPO Anu Kerns \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.9963em;\"><span class=\"stl_353 stl_15 stl_61\" style=\"word-spacing:-0.034em;\">will resign beginning of 2025. Salary and benefits in the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8294em;\"><span class=\"stl_353 stl_15 stl_315\" style=\"word-spacing:-0.0295em;\">notice period have been accrued. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.4907em;\"><span class=\"stl_352 stl_12 stl_473\" style=\"word-spacing:-0.0359em;\">Restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3294em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">In March 2024 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.1626em;\"><span class=\"stl_353 stl_15 stl_62\" style=\"word-spacing:-0.023em;\">27,873 restricted stock units (excl. matching shares) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.9957em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0251em;\">(10,927 restricted stock units) at a value of DKK 4.6 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8288em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">million (DKK 2.5 million) at grant. Other Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.6619em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">Management was granted 30,161 restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.4951em;\"><span class=\"stl_353 stl_15 stl_204\" style=\"word-spacing:-0.0215em;\">(excl. matching shares) (11,502 restricted stock units) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3282em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">corresponding to a value of DKK 4.9 million (DKK 2.6 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.1613em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0265em;\">million) at grant. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8282em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">In December 2024 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.6613em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">31,919 (32,028) performance restricted stock units at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.4944em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">a value of DKK 6.2 million (DKK 5.3 million) at grant. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.3276em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0319em;\">Other Executive Management was granted 14,781 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.1607em;\"><span class=\"stl_353 stl_15 stl_44\" style=\"word-spacing:-0.0258em;\">(29,574) performance restricted stock units at a value of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.9938em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">DKK 2.9 million (DKK 4.9 million) at grant. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.6607em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">In April 2024, the members of the Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.4938em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">were granted in total 13,637 restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.3269em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">(10,644 restricted stock units) corresponding to 50% of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.1601em;\"><span class=\"stl_353 stl_15 stl_189\" style=\"word-spacing:-0.0249em;\">their fixed fee amounting to DKK 2.1 million (DKK 2.1 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.9932em;\"><span class=\"stl_353 stl_15 stl_292\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.1601em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">For further description of restricted stock units see note \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.9932em;\"><span class=\"stl_353 stl_15 stl_374\">29. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.6544em;\"><span class=\"stl_352 stl_12 stl_422\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.4932em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">In December 2023 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3263em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0277em;\">80,839 warrants (83,921 warrants) with a fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.1594em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">of DKK 6.2 million (DKK 5.3 million). Other Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.9926em;\"><span class=\"stl_353 stl_15 stl_48\" style=\"word-spacing:-0.0263em;\">Management was granted 37,435 warrants (77,491 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8257em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0283em;\">warrants) with a fair value of DKK 2.9 million (DKK 4.9 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.6588em;\"><span class=\"stl_353 stl_15 stl_292\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3257em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Fair value calculated based on Black-Scholes, cf. note \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.1588em;\"><span class=\"stl_353 stl_15 stl_374\">29. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8257em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">Incentive programs for the Executive Management and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.6588em;\"><span class=\"stl_353 stl_15 stl_179\" style=\"word-spacing:-0.0246em;\">other employees are disclosed in note 29. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.3257em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">Members of the Executive Management have contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.1588em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">of employment containing standard terms for members \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.9919em;\"><span class=\"stl_353 stl_15 stl_41\" 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:26.825em;\"><span class=\"stl_353 stl_15 stl_85\" 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:27.6582em;\"><span class=\"stl_353 stl_15 stl_67\" 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:28.4913em;\"><span class=\"stl_353 stl_15 stl_16\" 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:29.3244em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Management is terminated by the Company without \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.1576em;\"><span class=\"stl_353 stl_15 stl_289\" 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:30.9907em;\"><span class=\"stl_353 stl_15 stl_16\" 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:31.8238em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">sation, which, depending on the circumstances, may \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.6569em;\"><span class=\"stl_353 stl_15 stl_48\" 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:33.49em;\"><span class=\"stl_353 stl_15 stl_37\" 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:34.3232em;\"><span class=\"stl_353 stl_15 stl_73\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8620": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.2244em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">Wages and salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0719em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_691\">1,327,419 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7525em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_312\">1,026,464 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5825em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_692\">116,171 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5644em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_58\">68,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_94\" style=\"word-spacing:-0.0376em;\">Social security expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8125em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_110\">76,057 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5388em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_178\">52,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_22\" style=\"word-spacing:-0.0375em;\">Other staff expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.745em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_32\">88,440 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5507em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_402\">68,262 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.9963em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0313em;\">Share-based payment, see specification in note 30 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.775em;top:15.9963em;\"><span class=\"stl_277 stl_15 stl_207\">78,672 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5688em;top:15.9963em;\"><span class=\"stl_277 stl_15 stl_231\">55,477 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0125em;\"><span class=\"stl_269 stl_12 stl_51\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7619em;top:17.0125em;\"><span class=\"stl_269 stl_12 stl_27\">1,686,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5469em;top:17.0125em;\"><span class=\"stl_269 stl_12 stl_101\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:18.6382em;\"><span class=\"stl_269 stl_12 stl_289\" 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_15 stl_392\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4432em;top:19.6657em;\"><span class=\"stl_277 stl_15 stl_389\">793,584 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2244em;top:19.6657em;\"><span class=\"stl_277 stl_15 stl_389\">545,968 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:20.6876em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4588em;top:20.6876em;\"><span class=\"stl_277 stl_15 stl_169\">220,433 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2682em;top:20.6876em;\"><span class=\"stl_277 stl_15 stl_139\">148,016 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.7094em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5207em;top:21.7094em;\"><span class=\"stl_277 stl_15 stl_335\">391,617 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2275em;top:21.7094em;\"><span class=\"stl_277 stl_15 stl_429\">333,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.7313em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5363em;top:22.7313em;\"><span class=\"stl_277 stl_15 stl_680\">281,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2344em;top:22.7313em;\"><span class=\"stl_277 stl_15 stl_322\">209,564 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7532em;\"><span class=\"stl_277 stl_15 stl_96\" style=\"word-spacing:-0.0347em;\">Capitalized salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:23.7532em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.5825em;top:23.7532em;\"><span class=\"stl_277 stl_15 stl_124\">33,798 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.7694em;\"><span class=\"stl_269 stl_12 stl_51\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7619em;top:24.7694em;\"><span class=\"stl_269 stl_12 stl_27\">1,686,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5469em;top:24.7694em;\"><span class=\"stl_269 stl_12 stl_101\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.4007em;\"><span class=\"stl_277 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">Average number of employees converted to full-time \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1238em;top:26.4007em;\"><span class=\"stl_277 stl_15 stl_59\">1,529 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9063em;top:26.4007em;\"><span class=\"stl_277 stl_15 stl_161\">1,255 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.4225em;\"><span class=\"stl_277 stl_15 stl_35\" 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:31.1844em;top:27.4225em;\"><span class=\"stl_277 stl_15 stl_693\">1,611 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9125em;top:27.4225em;\"><span class=\"stl_277 stl_15 stl_106\">1,379 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:29.0275em;\"><span class=\"stl_353 stl_15 stl_297\" style=\"word-spacing:-0.0327em;\">The Group has mainly defined contribution plans and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:29.8607em;\"><span class=\"stl_353 stl_15 stl_79\" style=\"word-spacing:-0.0315em;\">pays regular fixed contributions to independent pension \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:30.6938em;\"><span class=\"stl_353 stl_15 stl_56\" style=\"word-spacing:-0.0344em;\">funds and insurance companies. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2244em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0313em;\">Staff costs include the following costs: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:13.5288em;\"><span class=\"stl_269 stl_12 stl_25\" style=\"word-spacing:-0.0311em;\">Board of Directors: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.5563em;\"><span class=\"stl_277 stl_15 stl_51\">Remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1233em;top:14.5563em;\"><span class=\"stl_277 stl_15 stl_536\">6,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9039em;top:14.5563em;\"><span class=\"stl_277 stl_15 stl_314\">6,345 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:15.5782em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1452em;top:15.5782em;\"><span class=\"stl_277 stl_15 stl_124\">2,070 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9245em;top:15.5782em;\"><span class=\"stl_277 stl_15 stl_124\">2,070 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.5944em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0343em;\">Remuneration to Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:64.9889em;top:16.5944em;\"><span class=\"stl_269 stl_12 stl_243\">8,560 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8145em;top:16.5944em;\"><span class=\"stl_269 stl_12 stl_38\">8,415 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:18.2201em;\"><span class=\"stl_269 stl_12 stl_289\" style=\"word-spacing:-0.0347em;\">Executive Management: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:19.2476em;\"><span class=\"stl_277 stl_15 stl_250\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8152em;top:19.2476em;\"><span class=\"stl_277 stl_15 stl_163\">13,227 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6233em;top:19.2476em;\"><span class=\"stl_277 stl_15 stl_374\">11,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1377em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_174\">9,884 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8808em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_53\">2,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6233em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_58\">797 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.4089em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_477\">705 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:22.3132em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1527em;top:22.3132em;\"><span class=\"stl_277 stl_15 stl_122\">1,832 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9639em;top:22.3132em;\"><span class=\"stl_277 stl_15 stl_423\">1,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.742em;top:23.335em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.9295em;top:23.335em;\"><span class=\"stl_277 stl_15 stl_601\">17,100 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5964em;top:23.335em;\"><span class=\"stl_277 stl_15 stl_163\">13,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:24.3513em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0348em;\">Corporate Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6327em;top:24.3513em;\"><span class=\"stl_269 stl_12 stl_60\">42,840 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.467em;top:24.3513em;\"><span class=\"stl_269 stl_12 stl_126\">29,536 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_250\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8252em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_142\">11,588 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5889em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_228\">12,622 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1202em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_49\">4,850 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9114em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_418\">2,639 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1633em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_688\">1,332 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9402em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_572\">1,471 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1314em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_57\">1,877 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8945em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_234\">2,228 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:30.0701em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.822em;top:30.0701em;\"><span class=\"stl_277 stl_15 stl_113\">15,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.612em;top:30.0701em;\"><span class=\"stl_277 stl_15 stl_110\">11,999 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:31.0919em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0351em;\">Salary and benefits in notice period \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8458em;top:31.0919em;\"><span class=\"stl_277 stl_15 stl_374\">19,966 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1814em;top:31.0919em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:32.1082em;\"><span class=\"stl_269 stl_12 stl_22\" style=\"word-spacing:-0.0374em;\">Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7514em;top:32.1082em;\"><span class=\"stl_269 stl_12 stl_694\">55,151 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.462em;top:32.1082em;\"><span class=\"stl_269 stl_12 stl_163\">30,959 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:33.7338em;\"><span class=\"stl_269 stl_12 stl_473\" style=\"word-spacing:-0.0358em;\">Remuneration to Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.707em;top:33.7338em;\"><span class=\"stl_269 stl_12 stl_575\">97,991 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4364em;top:33.7338em;\"><span class=\"stl_269 stl_12 stl_416\">60,495 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:35.3594em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:-0.0329em;\">Total management remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3214em;top:35.3594em;\"><span class=\"stl_269 stl_12 stl_174\">106,551 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4539em;top:35.3594em;\"><span class=\"stl_269 stl_12 stl_229\">68,910 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8621": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.2244em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">Wages and salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0719em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_691\">1,327,419 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7525em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_312\">1,026,464 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5825em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_692\">116,171 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5644em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_58\">68,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_94\" style=\"word-spacing:-0.0376em;\">Social security expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8125em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_110\">76,057 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5388em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_178\">52,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_22\" style=\"word-spacing:-0.0375em;\">Other staff expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.745em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_32\">88,440 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5507em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_402\">68,262 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.9963em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0313em;\">Share-based payment, see specification in note 30 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.775em;top:15.9963em;\"><span class=\"stl_277 stl_15 stl_207\">78,672 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5688em;top:15.9963em;\"><span class=\"stl_277 stl_15 stl_231\">55,477 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0125em;\"><span class=\"stl_269 stl_12 stl_51\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7619em;top:17.0125em;\"><span class=\"stl_269 stl_12 stl_27\">1,686,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5469em;top:17.0125em;\"><span class=\"stl_269 stl_12 stl_101\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:18.6382em;\"><span class=\"stl_269 stl_12 stl_289\" 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_15 stl_392\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4432em;top:19.6657em;\"><span class=\"stl_277 stl_15 stl_389\">793,584 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2244em;top:19.6657em;\"><span class=\"stl_277 stl_15 stl_389\">545,968 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:20.6876em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4588em;top:20.6876em;\"><span class=\"stl_277 stl_15 stl_169\">220,433 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2682em;top:20.6876em;\"><span class=\"stl_277 stl_15 stl_139\">148,016 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.7094em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5207em;top:21.7094em;\"><span class=\"stl_277 stl_15 stl_335\">391,617 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2275em;top:21.7094em;\"><span class=\"stl_277 stl_15 stl_429\">333,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.7313em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5363em;top:22.7313em;\"><span class=\"stl_277 stl_15 stl_680\">281,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2344em;top:22.7313em;\"><span class=\"stl_277 stl_15 stl_322\">209,564 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7532em;\"><span class=\"stl_277 stl_15 stl_96\" style=\"word-spacing:-0.0347em;\">Capitalized salaries \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3832em;top:23.7532em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.5825em;top:23.7532em;\"><span class=\"stl_277 stl_15 stl_124\">33,798 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.7694em;\"><span class=\"stl_269 stl_12 stl_51\" style=\"word-spacing:-0.032em;\">Staff costs \u00a0</span></div><div class=\"stl_01\" style=\"left:29.7619em;top:24.7694em;\"><span class=\"stl_269 stl_12 stl_27\">1,686,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5469em;top:24.7694em;\"><span class=\"stl_269 stl_12 stl_101\">1,270,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.4007em;\"><span class=\"stl_277 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">Average number of employees converted to full-time \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1238em;top:26.4007em;\"><span class=\"stl_277 stl_15 stl_59\">1,529 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9063em;top:26.4007em;\"><span class=\"stl_277 stl_15 stl_161\">1,255 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.4225em;\"><span class=\"stl_277 stl_15 stl_35\" 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:31.1844em;top:27.4225em;\"><span class=\"stl_277 stl_15 stl_693\">1,611 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9125em;top:27.4225em;\"><span class=\"stl_277 stl_15 stl_106\">1,379 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:29.0275em;\"><span class=\"stl_353 stl_15 stl_297\" style=\"word-spacing:-0.0327em;\">The Group has mainly defined contribution plans and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:29.8607em;\"><span class=\"stl_353 stl_15 stl_79\" style=\"word-spacing:-0.0315em;\">pays regular fixed contributions to independent pension \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:30.6938em;\"><span class=\"stl_353 stl_15 stl_56\" style=\"word-spacing:-0.0344em;\">funds and insurance companies. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_477\" style=\"word-spacing:0.007em;\">Note 26 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_154\" style=\"word-spacing:0.0138em;\">Retirement benefit obligations \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">In defined contribution plans, the Group makes regular \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">payments of fixed contributions to independent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">pension funds and insurance companies. The Group \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">is under no obligation to pay additional contributions. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Costs for defined contribution plans are recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">the income statement as the Group assumes an obliga- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.2043em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0277em;\">tion to make the payment. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8712em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">In defined benefit plans, the Group is under an obliga- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7043em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">tion to pay a defined benefit on retirement. The actuar- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.5374em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">ially calculated present value less the fair value of any \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3706em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">plan assets is recognised in the balance sheet under \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.2037em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">retirement benefit obligations. The total service costs \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.0368em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">of the year plus calculated interest based on actuarial \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.8699em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">estimates and financial assumptions at the beginning \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.7031em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">of the year are recognized in the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.5362em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">The difference between the forecast development in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.3693em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">plan assets and liabilities and the realized values at \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2024em;\"><span class=\"stl_353 stl_15 stl_51\" 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:38.7402em;top:27.0356em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">and is recognized in other comprehensive income. In \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.8687em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0344em;\">connection with a change in benefits regarding the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.7018em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">employees\u2019 employment with the Group to date, there \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.5349em;\"><span class=\"stl_353 stl_15 stl_290\" 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:38.7402em;top:30.3681em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">present value, which is taken directly to the income \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.2012em;\"><span class=\"stl_353 stl_15 stl_67\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.1956em;\"><span class=\"stl_352 stl_12 stl_164\" style=\"word-spacing:-0.0365em;\">Defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0343em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">The Group offers pension plans to all employees in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8674em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">Denmark and abroad. Most of the pension plans are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7006em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.0349em;\">defined contribution plans, expect for the pension plan \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5337em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">in Bavarian Nordic Berna GmbH, see below. The Group \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3668em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">funds the plans through regular payments of premiums \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.1999em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">to independent insurance companies responsible for \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0331em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">the pension obligations towards the beneficiaries. Once \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.8662em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">the pension contributions for defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.6993em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">have been made, the Group has no further obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.5324em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.028em;\">towards current or former employees. Contributions to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3656em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">defined contribution plans are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.1987em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">statement when paid. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8599em;\"><span class=\"stl_352 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.6987em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">The pension plan in Bavarian Nordic Berna GmbH is \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5318em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">part of a collective foundation in which other plans \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3649em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">of non-related employers also participate, and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.1981em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">different plans all participate in the various risks \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.0312em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">relating to the foundation. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:28.6981em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Defined benefit liabilities are recognized in the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:29.5312em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">sheet and in the income statement as indicated below. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.1981em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Employees from Bavarian Nordic Switzerland AG have \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.0312em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">been transferred to Bavarian Nordic Berna GmbH in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.8643em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">August 2024 and are included in the new pension plan \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:33.6974em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">as from December 31, 2024. The previous pension plan \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:34.5306em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">in Bavarian Nordic Switzerland AG was recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:35.3637em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">a contribution benefit plan and therefore no pension \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.1968em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">obligation was recognized. The net assets under the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:37.0299em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Bavarian Nordic Berna GmbH pension plan have been \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:37.8631em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">adjusted to include the transferred employees. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2069em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9844em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:11.9639em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7694em;top:11.9639em;\"><span class=\"stl_277 stl_15 stl_36\">84,966 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.585em;top:11.9639em;\"><span class=\"stl_277 stl_15 stl_227\">66,935 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8175em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_38\">31,205 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0238em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_425\">1,116 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:14.002em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0328em;\">Cost of pension plans recognized in income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4188em;top:14.002em;\"><span class=\"stl_269 stl_12 stl_734\">116,171 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4338em;top:14.002em;\"><span class=\"stl_269 stl_12 stl_545\">68,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:15.6333em;\"><span class=\"stl_277 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">Current service cost \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8619em;top:15.6333em;\"><span class=\"stl_277 stl_15 stl_740\">12,749 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6419em;top:15.6333em;\"><span class=\"stl_277 stl_15 stl_697\">11,817 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:16.6552em;\"><span class=\"stl_277 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">Past service cost \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9263em;top:16.6552em;\"><span class=\"stl_277 stl_15 stl_741\">17,186 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4225em;top:16.6552em;\"><span class=\"stl_277 stl_15 stl_469\">(12,023) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:17.677em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">Administration expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6032em;top:17.677em;\"><span class=\"stl_277 stl_15 stl_189\">309 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3894em;top:17.677em;\"><span class=\"stl_277 stl_15 stl_310\">298 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:18.6989em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Net interest expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6325em;top:18.6989em;\"><span class=\"stl_277 stl_15 stl_370\">961 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9494em;top:18.6989em;\"><span class=\"stl_277 stl_15 stl_335\">1,024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.7152em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0327em;\">Cost of defined benefit plans recognized in income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6807em;top:19.7152em;\"><span class=\"stl_269 stl_12 stl_137\">31,205 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8944em;top:19.7152em;\"><span class=\"stl_269 stl_12 stl_743\">1,116 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.3464em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Actuarial gains/losses on pension obligations \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6125em;top:21.3464em;\"><span class=\"stl_277 stl_15 stl_118\">(89,584) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3838em;top:21.3464em;\"><span class=\"stl_277 stl_15 stl_150\">(34,324) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.3683em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">Actuarial gains/losses on plan assets \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8519em;top:22.3683em;z-index:529;\"><span class=\"stl_277 stl_15 stl_189\">72</span><span class=\"stl_277 stl_15 stl_426\">,</span><span class=\"stl_277 stl_15 stl_367\">194 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9675em;top:22.3683em;\"><span class=\"stl_277 stl_15 stl_744\">1,769 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:23.3845em;\"><span class=\"stl_269 stl_12 stl_282\" style=\"word-spacing:-0.035em;\">Actuarial gains/losses on defined benefit plans recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:24.2177em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0345em;\">other comprehensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5019em;top:24.2177em;\"><span class=\"stl_269 stl_12 stl_376\">(17,390) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2213em;top:24.2177em;\"><span class=\"stl_269 stl_12 stl_382\">(32,555) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:25.8489em;\"><span class=\"stl_277 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">Plan assets as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5075em;top:25.8489em;\"><span class=\"stl_277 stl_15 stl_370\">221,024 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.175em;top:25.8489em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7263em;top:26.8708em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3957em;top:26.8708em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2444em;top:26.8708em;\"><span class=\"stl_277 stl_15 stl_547\">206,938 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7263em;top:27.8927em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0356em;\">Exchange adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9463em;top:27.8927em;\"><span class=\"stl_277 stl_15 stl_110\">(3,492) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5738em;top:27.8927em;\"><span class=\"stl_277 stl_15 stl_432\">10,648 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7263em;top:28.9145em;\"><span class=\"stl_277 stl_15 stl_65\" style=\"word-spacing:-0.0249em;\">Actual rate of interest \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1163em;top:28.9145em;\"><span class=\"stl_277 stl_15 stl_503\">3,006 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8944em;top:28.9145em;\"><span class=\"stl_277 stl_15 stl_427\">4,542 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7263em;top:29.9364em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">Actuarial gains/losses on plan assets \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8538em;top:29.9364em;z-index:839;\"><span class=\"stl_277 stl_15 stl_189\">72</span><span class=\"stl_277 stl_15 stl_426\">,</span><span class=\"stl_277 stl_15 stl_367\">194 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9694em;top:29.9364em;\"><span class=\"stl_277 stl_15 stl_744\">1,769 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7269em;top:30.9583em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">Administration expenses paid \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4082em;top:30.9583em;\"><span class=\"stl_277 stl_15 stl_321\">(309) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.1919em;top:30.9583em;\"><span class=\"stl_277 stl_15 stl_266\">(298) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7269em;top:31.9802em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Employer contributions \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8882em;top:31.9802em;\"><span class=\"stl_277 stl_15 stl_730\">14,182 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6019em;top:31.9802em;\"><span class=\"stl_277 stl_15 stl_147\">11,808 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7269em;top:33.002em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">Employee contributions \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1582em;top:33.002em;\"><span class=\"stl_277 stl_15 stl_630\">9,358 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0619em;top:33.002em;\"><span class=\"stl_277 stl_15 stl_636\">7,117 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7269em;top:34.0239em;\"><span class=\"stl_277 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">Benefit paid out \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8207em;top:34.0239em;\"><span class=\"stl_277 stl_15 stl_144\">29,582 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3807em;top:34.0239em;\"><span class=\"stl_277 stl_15 stl_161\">(21,500) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7263em;top:35.0458em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">Other restructuring events \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8369em;top:35.0458em;\"><span class=\"stl_277 stl_15 stl_575\">41,936 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1757em;top:35.0458em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7269em;top:36.062em;\"><span class=\"stl_269 stl_12 stl_183\" style=\"word-spacing:-0.0292em;\">Plan assets as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.33em;top:36.062em;\"><span class=\"stl_269 stl_12 stl_156\">387,481 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1119em;top:36.062em;\"><span class=\"stl_269 stl_12 stl_115\">221,024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2795em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2227em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0002em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:11.9583em;\"><span class=\"stl_269 stl_12 stl_165\" style=\"word-spacing:-0.0342em;\">Specification of present value of defined benefit obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Present value of defined benefit liability as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.507em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_106\">301,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1895em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4102em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.2702em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_227\">262,925 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0356em;\">Exchange adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.9464em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_357\">(5,048) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6083em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_357\">13,529 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Current service costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.877em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_740\">12,749 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.657em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_697\">11,817 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Past service costs</span><sup style=\"top: -0.2067em;\"><span class=\"stl_280 stl_15 stl_742\" style=\"word-spacing:-0.0529em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:64.9414em;top:17.0747em;\"><span class=\"stl_277 stl_15 stl_741\">17,186 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4376em;top:17.0747em;\"><span class=\"stl_277 stl_15 stl_469\">(12,023) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:18.0966em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Calculated interest on liability \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1501em;top:18.0966em;\"><span class=\"stl_277 stl_15 stl_492\">3,967 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9045em;top:18.0966em;\"><span class=\"stl_277 stl_15 stl_216\">5,566 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:19.1185em;\"><span class=\"stl_277 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Actuarial gains/losses, financial assumptions \u00a0</span></div><div class=\"stl_01\" style=\"left:64.867em;top:19.1185em;\"><span class=\"stl_277 stl_15 stl_689\">17,250 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6407em;top:19.1185em;\"><span class=\"stl_277 stl_15 stl_696\">34,186 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:20.1404em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Actuarial gains/losses, demographic assumptions \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4095em;top:20.1404em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.2476em;top:20.1404em;\"><span class=\"stl_277 stl_15 stl_453\">(213) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:21.1622em;\"><span class=\"stl_277 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">Actuarial gains/losses, experience \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7883em;top:21.1622em;\"><span class=\"stl_277 stl_15 stl_336\">72,334 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.4195em;top:21.1622em;\"><span class=\"stl_277 stl_15 stl_156\">352 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:22.1841em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">Employee contributions \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1714em;top:22.1841em;\"><span class=\"stl_277 stl_15 stl_368\">9,358 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0751em;top:22.1841em;\"><span class=\"stl_277 stl_15 stl_636\">7,117 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:23.206em;\"><span class=\"stl_277 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">Benefit paid out \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8339em;top:23.206em;\"><span class=\"stl_277 stl_15 stl_144\">29,582 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3939em;top:23.206em;\"><span class=\"stl_277 stl_15 stl_161\">(21,500) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:24.2279em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">Other restructuring events \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8501em;top:24.2279em;\"><span class=\"stl_277 stl_15 stl_575\">41,936 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1889em;top:24.2279em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:25.2441em;\"><span class=\"stl_269 stl_12 stl_24\" style=\"word-spacing:-0.0332em;\">Present value of defined benefit liability as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3482em;top:25.2441em;\"><span class=\"stl_269 stl_12 stl_120\">501,070 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.127em;top:25.2441em;\"><span class=\"stl_269 stl_12 stl_115\">301,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:26.2716em;\"><span class=\"stl_277 stl_15 stl_243\" style=\"word-spacing:-0.0261em;\">Fair value of plan assets as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3264em;top:26.2716em;\"><span class=\"stl_277 stl_15 stl_745\">(387,481) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0976em;top:26.2716em;\"><span class=\"stl_277 stl_15 stl_151\">(221,024) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:27.2879em;\"><span class=\"stl_269 stl_12 stl_165\" style=\"word-spacing:-0.0341em;\">Net liability of defined benefit plans as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3507em;top:27.2879em;\"><span class=\"stl_269 stl_12 stl_118\">113,589 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4626em;top:27.2879em;\"><span class=\"stl_269 stl_12 stl_361\">80,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:28.9191em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0333em;\">Net liability of defined benefit plans as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8207em;top:28.9191em;\"><span class=\"stl_277 stl_15 stl_492\">80,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1882em;top:28.9191em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:29.941em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4089em;top:29.941em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.6057em;top:29.941em;\"><span class=\"stl_277 stl_15 stl_643\">55,987 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:30.9629em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.0311em;\">Expenditure for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:64.832em;top:30.9629em;\"><span class=\"stl_277 stl_15 stl_38\">31,205 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0382em;top:30.9629em;\"><span class=\"stl_277 stl_15 stl_425\">1,116 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:31.9847em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Actuarial gains/losses on pension obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8145em;top:31.9847em;\"><span class=\"stl_277 stl_15 stl_303\">89,584 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.582em;top:31.9847em;\"><span class=\"stl_277 stl_15 stl_214\">34,325 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:33.0066em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">Exchange adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.967em;top:33.0066em;\"><span class=\"stl_277 stl_15 stl_688\">(1,556) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9026em;top:33.0066em;\"><span class=\"stl_277 stl_15 stl_219\">2,881 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:34.0285em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">Actuarial gains/losses on plan assets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6601em;top:34.0285em;z-index:2289;\"><span class=\"stl_277 stl_15 stl_204\">(72</span><span class=\"stl_277 stl_15 stl_426\">,</span><span class=\"stl_277 stl_15 stl_567\">194) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8026em;top:34.0285em;\"><span class=\"stl_277 stl_15 stl_747\">(1,769) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:35.0504em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0271em;\">Payments received \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7232em;top:35.0504em;\"><span class=\"stl_277 stl_15 stl_746\">(14,182) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4339em;top:35.0504em;\"><span class=\"stl_277 stl_15 stl_748\">(11,808) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:36.0666em;\"><span class=\"stl_269 stl_12 stl_165\" style=\"word-spacing:-0.0341em;\">Net liability of defined benefit plans as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3501em;top:36.0666em;\"><span class=\"stl_269 stl_12 stl_118\">113,589 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.462em;top:36.0666em;\"><span class=\"stl_269 stl_12 stl_361\">80,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:37.5914em;\"><span class=\"stl_618 stl_15 stl_27\">1</span></div><div class=\"stl_01\" style=\"left:39.449em;top:37.5538em;\"><span class=\"stl_238 stl_15 stl_506\" style=\"word-spacing:-0.0415em;\">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:39.449em;top:38.1373em;\"><span class=\"stl_238 stl_15 stl_502\" style=\"word-spacing:-0.0463em;\">announced by the Swiss pension provider Servisa in 2023. The impact of this change was calculated as if the change happened as of December \u00a0</span></div><div class=\"stl_01\" style=\"left:39.449em;top:38.7208em;\"><span class=\"stl_238 stl_15 stl_256\" style=\"word-spacing:-0.0458em;\">31, 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:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:11.9583em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:-0.0309em;\">Percentage of plan assets invested in asset category \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_377\">Equity \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9282em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_381\">33.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7288em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_300\">31.0% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_95\">Bonds \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9163em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_57\">25.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7038em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_101\">28.4% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_177\">Property \u00a0</span></div><div class=\"stl_01\" style=\"left:30.955em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_364\">13.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7169em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_106\">16.0% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_282\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9875em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_649\">27.4% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7225em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_141\">24.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:17.687em;\"><span class=\"stl_269 stl_12 stl_283\" 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:4.725em;top:18.7145em;\"><span class=\"stl_277 stl_15 stl_48\" style=\"word-spacing:-0.0262em;\">Discount rate \u00a0</span></div><div class=\"stl_01\" style=\"left:30.925em;top:18.7145em;\"><span class=\"stl_277 stl_15 stl_174\">1.00% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.72em;top:18.7145em;\"><span class=\"stl_277 stl_15 stl_134\">1.35% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.7364em;\"><span class=\"stl_277 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">Future rate of salary increases \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9188em;top:19.7364em;\"><span class=\"stl_277 stl_15 stl_58\">1.80% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7382em;top:19.7364em;\"><span class=\"stl_277 stl_15 stl_224\">1.75% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:20.7583em;\"><span class=\"stl_277 stl_15 stl_274\">Inflation \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9994em;top:20.7583em;\"><span class=\"stl_277 stl_15 stl_632\">1.10% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7082em;top:20.7583em;\"><span class=\"stl_277 stl_15 stl_381\">1.25% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:22.3995em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Assumptions regarding future mortality are set based on actuarial advice in accordance with published statistics and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:23.2327em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.0299em;\">experience. These assumptions translate into an average life expectancy in years for a pensioner retiring at age 65 as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:24.0658em;\"><span class=\"stl_277 stl_15 stl_61\">follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:25.7014em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0384em;\">Life expectancies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:26.7289em;\"><span class=\"stl_277 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">Retiring aged 65 at the end of the reporting period \u00a0</span></div><div class=\"stl_01\" style=\"left:5.0707em;top:27.7508em;\"><span class=\"stl_277 stl_15 stl_74\">Male \u00a0</span></div><div class=\"stl_01\" style=\"left:31.495em;top:27.7508em;z-index:685;\"><span class=\"stl_277 stl_15 stl_317\">22</span><span class=\"stl_277 stl_15 stl_574\">.</span><span class=\"stl_277 stl_15 stl_574\">1 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.2275em;top:27.7508em;\"><span class=\"stl_277 stl_15 stl_429\">22.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:5.0707em;top:28.7727em;\"><span class=\"stl_277 stl_15 stl_194\">Female \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4563em;top:28.7727em;\"><span class=\"stl_277 stl_15 stl_361\">23.9 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.2288em;top:28.7727em;\"><span class=\"stl_277 stl_15 stl_57\">23.8 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:30.4139em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0289em;\">Retiring aged 65, 20 years after the end of the reporting period \u00a0</span></div><div class=\"stl_01\" style=\"left:5.0707em;top:31.4358em;\"><span class=\"stl_277 stl_15 stl_74\">Male \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5213em;top:31.4358em;z-index:779;\"><span class=\"stl_277 stl_15 stl_751\">24.1 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.2538em;top:31.4358em;\"><span class=\"stl_277 stl_15 stl_300\">24.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:5.0713em;top:32.4577em;\"><span class=\"stl_277 stl_15 stl_194\">Female \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4507em;top:32.4577em;\"><span class=\"stl_277 stl_15 stl_547\">25.8 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.2432em;top:32.4577em;\"><span class=\"stl_277 stl_15 stl_143\">25.7 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7269em;top:34.2989em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">The contributions to the plan for 2025 are expected in the same level as in 2024. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7425em;top:10.2158em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">The below sensitivity analysis shows the change in one of the actuarial assumptions, while other assumptions are kept \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7425em;top:11.0489em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">constant. In practice, this is unlikely to occur as changes in some of the assumptions may be correlated. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7425em;top:12.7158em;\"><span class=\"stl_353 stl_15 stl_315\" style=\"word-spacing:-0.0294em;\">Percentage increase/decrease in the gross liability resulting from a change in a single actuarial assumption. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.9878em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2227em;top:14.9821em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0002em;top:14.9821em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.4202em;top:16.6721em;\"><span class=\"stl_277 stl_15 stl_328\" style=\"word-spacing:0.6498em;\">+0.5%-point +0.5%-point \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:17.694em;\"><span class=\"stl_277 stl_15 stl_48\" style=\"word-spacing:-0.0262em;\">Discount rate \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1689em;top:17.694em;\"><span class=\"stl_277 stl_15 stl_749\">-7.7% \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8283em;top:17.694em;\"><span class=\"stl_277 stl_15 stl_427\">-8.2% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7333em;top:19.3196em;\"><span class=\"stl_277 stl_15 stl_750\" style=\"word-spacing:0.0215em;\">+1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5127em;top:19.3196em;\"><span class=\"stl_277 stl_15 stl_664\" style=\"word-spacing:0.022em;\">+1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3415em;\"><span class=\"stl_277 stl_15 stl_430\" style=\"word-spacing:-0.0422em;\">Life expectancy \u00a0</span></div><div class=\"stl_01\" style=\"left:65.3045em;top:20.3415em;\"><span class=\"stl_277 stl_15 stl_491\">1.7% \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0708em;top:20.3415em;\"><span class=\"stl_277 stl_15 stl_134\">1.5% \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8626": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:10.2244em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0313em;\">Staff costs include the following costs: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:13.5288em;\"><span class=\"stl_269 stl_12 stl_25\" style=\"word-spacing:-0.0311em;\">Board of Directors: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.5563em;\"><span class=\"stl_277 stl_15 stl_51\">Remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1233em;top:14.5563em;\"><span class=\"stl_277 stl_15 stl_536\">6,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9039em;top:14.5563em;\"><span class=\"stl_277 stl_15 stl_314\">6,345 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:15.5782em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1452em;top:15.5782em;\"><span class=\"stl_277 stl_15 stl_124\">2,070 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9245em;top:15.5782em;\"><span class=\"stl_277 stl_15 stl_124\">2,070 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.5944em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0343em;\">Remuneration to Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:64.9889em;top:16.5944em;\"><span class=\"stl_269 stl_12 stl_243\">8,560 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8145em;top:16.5944em;\"><span class=\"stl_269 stl_12 stl_38\">8,415 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:18.2201em;\"><span class=\"stl_269 stl_12 stl_289\" style=\"word-spacing:-0.0347em;\">Executive Management: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:19.2476em;\"><span class=\"stl_277 stl_15 stl_250\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8152em;top:19.2476em;\"><span class=\"stl_277 stl_15 stl_163\">13,227 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6233em;top:19.2476em;\"><span class=\"stl_277 stl_15 stl_374\">11,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1377em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_174\">9,884 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8808em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_53\">2,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6233em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_58\">797 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.4089em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_477\">705 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:22.3132em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1527em;top:22.3132em;\"><span class=\"stl_277 stl_15 stl_122\">1,832 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9639em;top:22.3132em;\"><span class=\"stl_277 stl_15 stl_423\">1,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.742em;top:23.335em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.9295em;top:23.335em;\"><span class=\"stl_277 stl_15 stl_601\">17,100 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5964em;top:23.335em;\"><span class=\"stl_277 stl_15 stl_163\">13,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:24.3513em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0348em;\">Corporate Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6327em;top:24.3513em;\"><span class=\"stl_269 stl_12 stl_60\">42,840 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.467em;top:24.3513em;\"><span class=\"stl_269 stl_12 stl_126\">29,536 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_250\">Salary \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8252em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_142\">11,588 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5889em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_228\">12,622 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0343em;\">Paid bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1202em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_49\">4,850 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9114em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_418\">2,639 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Other employee benefits \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1633em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_688\">1,332 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9402em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_572\">1,471 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Contribution based pension \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1314em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_57\">1,877 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8945em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_234\">2,228 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7433em;top:30.0701em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.822em;top:30.0701em;\"><span class=\"stl_277 stl_15 stl_113\">15,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.612em;top:30.0701em;\"><span class=\"stl_277 stl_15 stl_110\">11,999 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:31.0919em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0351em;\">Salary and benefits in notice period \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8458em;top:31.0919em;\"><span class=\"stl_277 stl_15 stl_374\">19,966 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1814em;top:31.0919em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:32.1082em;\"><span class=\"stl_269 stl_12 stl_22\" style=\"word-spacing:-0.0374em;\">Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7514em;top:32.1082em;\"><span class=\"stl_269 stl_12 stl_694\">55,151 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.462em;top:32.1082em;\"><span class=\"stl_269 stl_12 stl_163\">30,959 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:33.7338em;\"><span class=\"stl_269 stl_12 stl_473\" style=\"word-spacing:-0.0358em;\">Remuneration to Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:64.707em;top:33.7338em;\"><span class=\"stl_269 stl_12 stl_575\">97,991 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4364em;top:33.7338em;\"><span class=\"stl_269 stl_12 stl_416\">60,495 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:35.3594em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:-0.0329em;\">Total management remuneration \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3214em;top:35.3594em;\"><span class=\"stl_269 stl_12 stl_174\">106,551 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4539em;top:35.3594em;\"><span class=\"stl_269 stl_12 stl_229\">68,910 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.1638em;\"><span class=\"stl_353 stl_15 stl_347\" 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_353 stl_15 stl_297\" 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_353 stl_15 stl_539\" 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_353 stl_15 stl_212\" style=\"word-spacing:-0.0271em;\">COO Russell Thirsk, CPO Anu Kerns, CCO JC May constitute \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3301em;\"><span class=\"stl_353 stl_15 stl_60\" style=\"word-spacing:-0.0328em;\">the Other Executive Management. CMO Laurence De \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.1632em;\"><span class=\"stl_353 stl_15 stl_210\" style=\"word-spacing:-0.0273em;\">Moerlooze resigned in May 2024 and CPO Anu Kerns \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.9963em;\"><span class=\"stl_353 stl_15 stl_61\" style=\"word-spacing:-0.034em;\">will resign beginning of 2025. Salary and benefits in the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8294em;\"><span class=\"stl_353 stl_15 stl_315\" style=\"word-spacing:-0.0295em;\">notice period have been accrued. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.4907em;\"><span class=\"stl_352 stl_12 stl_473\" style=\"word-spacing:-0.0359em;\">Restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3294em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">In March 2024 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.1626em;\"><span class=\"stl_353 stl_15 stl_62\" style=\"word-spacing:-0.023em;\">27,873 restricted stock units (excl. matching shares) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.9957em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0251em;\">(10,927 restricted stock units) at a value of DKK 4.6 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8288em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">million (DKK 2.5 million) at grant. Other Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.6619em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">Management was granted 30,161 restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.4951em;\"><span class=\"stl_353 stl_15 stl_204\" style=\"word-spacing:-0.0215em;\">(excl. matching shares) (11,502 restricted stock units) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3282em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">corresponding to a value of DKK 4.9 million (DKK 2.6 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.1613em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0265em;\">million) at grant. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8282em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">In December 2024 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.6613em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">31,919 (32,028) performance restricted stock units at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.4944em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">a value of DKK 6.2 million (DKK 5.3 million) at grant. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.3276em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0319em;\">Other Executive Management was granted 14,781 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.1607em;\"><span class=\"stl_353 stl_15 stl_44\" style=\"word-spacing:-0.0258em;\">(29,574) performance restricted stock units at a value of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.9938em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">DKK 2.9 million (DKK 4.9 million) at grant. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.6607em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">In April 2024, the members of the Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.4938em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">were granted in total 13,637 restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.3269em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">(10,644 restricted stock units) corresponding to 50% of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.1601em;\"><span class=\"stl_353 stl_15 stl_189\" style=\"word-spacing:-0.0249em;\">their fixed fee amounting to DKK 2.1 million (DKK 2.1 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.9932em;\"><span class=\"stl_353 stl_15 stl_292\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.1601em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">For further description of restricted stock units see note \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.9932em;\"><span class=\"stl_353 stl_15 stl_374\">29. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.6544em;\"><span class=\"stl_352 stl_12 stl_422\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.4932em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">In December 2023 Corporate Management was granted \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3263em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0277em;\">80,839 warrants (83,921 warrants) with a fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.1594em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">of DKK 6.2 million (DKK 5.3 million). Other Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.9926em;\"><span class=\"stl_353 stl_15 stl_48\" style=\"word-spacing:-0.0263em;\">Management was granted 37,435 warrants (77,491 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8257em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0283em;\">warrants) with a fair value of DKK 2.9 million (DKK 4.9 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.6588em;\"><span class=\"stl_353 stl_15 stl_292\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3257em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Fair value calculated based on Black-Scholes, cf. note \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.1588em;\"><span class=\"stl_353 stl_15 stl_374\">29. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8257em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">Incentive programs for the Executive Management and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.6588em;\"><span class=\"stl_353 stl_15 stl_179\" style=\"word-spacing:-0.0246em;\">other employees are disclosed in note 29. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.3257em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">Members of the Executive Management have contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.1588em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">of employment containing standard terms for members \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.9919em;\"><span class=\"stl_353 stl_15 stl_41\" 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:26.825em;\"><span class=\"stl_353 stl_15 stl_85\" 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:27.6582em;\"><span class=\"stl_353 stl_15 stl_67\" 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:28.4913em;\"><span class=\"stl_353 stl_15 stl_16\" 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:29.3244em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Management is terminated by the Company without \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.1576em;\"><span class=\"stl_353 stl_15 stl_289\" 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:30.9907em;\"><span class=\"stl_353 stl_15 stl_16\" 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:31.8238em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">sation, which, depending on the circumstances, may \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.6569em;\"><span class=\"stl_353 stl_15 stl_48\" 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:33.49em;\"><span class=\"stl_353 stl_15 stl_37\" 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:34.3232em;\"><span class=\"stl_353 stl_15 stl_73\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8634": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_307\" style=\"word-spacing:0.0033em;\">Note 9 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_161\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:11.9032em;\"><span class=\"stl_269 stl_12 stl_89\" style=\"word-spacing:-0.0382em;\">Depreciation and amortization included in: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_392\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.477em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_101\">545,901 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2689em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_393\">477,544 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_422\" style=\"word-spacing:-0.0354em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9464em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_37\">80 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.4239em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_244\">181 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8208em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_357\">20,424 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6483em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_579\">19,631 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:15.9963em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7927em;top:15.9963em;\"><span class=\"stl_277 stl_15 stl_207\">58,495 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5608em;top:15.9963em;\"><span class=\"stl_277 stl_15 stl_216\">56,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:17.0125em;\"><span class=\"stl_269 stl_12 stl_391\" style=\"word-spacing:-0.0368em;\">Depreciation and amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:64.297em;top:17.0125em;\"><span class=\"stl_269 stl_12 stl_475\">624,900 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1152em;top:17.0125em;\"><span class=\"stl_269 stl_12 stl_131\">553,821 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:18.6438em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0311em;\">Hereof loss from disposed fixed assets \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1289em;top:18.6438em;\"><span class=\"stl_277 stl_15 stl_547\">2,526 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.4008em;top:18.6438em;\"><span class=\"stl_277 stl_15 stl_295\">704 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:20.2638em;\"><span class=\"stl_269 stl_12 stl_95\" style=\"word-spacing:-0.038em;\">Impairment losses included in: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8014em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_350\">38,475 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.292em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_152\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:22.3076em;\"><span class=\"stl_269 stl_12 stl_391\" style=\"word-spacing:-0.0367em;\">Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6589em;top:22.3076em;\"><span class=\"stl_269 stl_12 stl_349\">38,475 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1283em;top:22.3076em;\"><span class=\"stl_269 stl_12 stl_138\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:23.9182em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">The product rights to Rabipur/RabAvert and Encepur are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:24.7513em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.033em;\">amortized over 20 years with an amortization of DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:25.5844em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">278.9 million for 2024. The product rights were acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:26.4175em;\"><span class=\"stl_353 stl_15 stl_42\" style=\"word-spacing:-0.0233em;\">from GSK as per December 31, 2019. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:27.2507em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">The product rights for Vivotif and Vaxchora are amor- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:28.0838em;\"><span class=\"stl_353 stl_15 stl_53\" style=\"word-spacing:-0.0255em;\">tized over 10-20 years, starting from the acquisition \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:28.9169em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">date May 15, 2023. The amortization amounted to DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:29.75em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">38.5 million in 2024. The product rights were acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:30.5832em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0277em;\">from Emergent BioSolutions May 15, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:23.9163em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">Amortization of product rights is recognized as part of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:24.7494em;\"><span class=\"stl_353 stl_15 stl_195\" style=\"word-spacing:-0.0351em;\">cost of goods sold under production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:26.4163em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0337em;\">See further description in note 15. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:28.0832em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">The impairment losses included in reaserch and devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:28.9163em;\"><span class=\"stl_353 stl_15 stl_243\" style=\"word-spacing:-0.0261em;\">opment cost of 38.5 million for 2024 relates to the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:29.7494em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">impairment of the right of use asset relating to the San \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:30.5825em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0327em;\">Diego lease, as well as laboratory equipment at the San \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7495em;top:31.4157em;\"><span class=\"stl_353 stl_15 stl_44\" style=\"word-spacing:-0.0258em;\">Diego site. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.984em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9452em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_16\">Acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:47.0533em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_17\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5502em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_39\" style=\"word-spacing:-0.04em;\">rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1233em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_25\">Developed \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6715em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_550\">intangible \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5452em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_165\" style=\"word-spacing:1.0869em;\">Product development \u00a0</span></div><div class=\"stl_01\" style=\"left:36.0665em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_390\">Production \u00a0</span></div><div class=\"stl_01\" style=\"left:46.1383em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_21\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0771em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_377\">rights \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2871em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_66\" style=\"word-spacing:-0.029em;\">in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0552em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_46\">Process \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3202em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_223\">Software \u00a0</span></div><div class=\"stl_01\" style=\"left:46.1771em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_35\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9777em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7233em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_279\" style=\"word-spacing:-0.0202em;\">Costs as of January 1, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1033em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_503\">5,908,277 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.884em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_126\">2,690,013 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9965em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.8402em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_518\">114,958 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6133em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_709\">417,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8933em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_576\">9,130,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7233em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6308em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_381\">186,433 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2721em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9965em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.9433em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_57\">233 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8658em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_113\">21,259 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3027em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_444\">207,925 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5483em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.1052em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_158\">374,857 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2008em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_670\">17,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3427em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_149\">(392,759) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1702em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.724em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Transfer to/from property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5483em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9971em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.2396em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_232\">(2,265) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4571em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_202\">(884) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.789em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_668\">(3,149) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.6727em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_133\">(1,403,264) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9977em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.7221em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.6471em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_424\">(26,224) \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5908em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_121\">(1,429,488) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.8333em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_107\">33 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9977em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.264em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_186\">66 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.8096em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_575\">(24) \u00a0</span></div><div class=\"stl_01\" style=\"left:52.7296em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_38\">75 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7239em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_219\" style=\"word-spacing:-0.0154em;\">Cost as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9296em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_460\">6,094,710 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6571em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_312\">1,286,782 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9371em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_106\">374,857 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6396em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_321\">130,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7252em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_346\">18,694 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6077em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_201\">7,905,937 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0295em;\">Amortization and impairment losses as of January 1, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.2446em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_588\">1,116,835 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8577em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_460\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9983em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.8408em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_414\">102,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8508em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_27\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7046em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_286\">2,648,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_377\">Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6946em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_687\">317,449 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.274em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.4096em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_621\">31,238 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.5202em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_406\">8,120 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4471em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2327em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_295\">356,807 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5496em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.274em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9983em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.3021em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_435\">(1,231) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4471em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.7508em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_435\">(1,231) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5496em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.6733em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_133\">(1,403,264) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9983em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.7227em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.6477em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_424\">(26,224) \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5915em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_121\">(1,429,488) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5496em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.274em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9983em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.9958em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_710\">119 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4477em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.4452em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_710\">119 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_190\" style=\"word-spacing:-0.0299em;\">Amortization and impairment losses as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8958em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_445\">1,434,284 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2671em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.2758em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_621\">31,238 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6596em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_124\">109,523 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4408em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:50.5546em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_27\">1,575,045 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_35\" style=\"word-spacing:-0.0272em;\">Carrying amount as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8933em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_213\">4,660,426 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.659em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_312\">1,286,782 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9358em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_131\">343,619 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0121em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_147\">21,371 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7271em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_346\">18,694 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5346em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_456\">6,330,892 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:31.47em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0328em;\">Geographical split of intangible assets \u2013 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:32.4975em;\"><span class=\"stl_277 stl_15 stl_334\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7665em;top:32.4975em;\"><span class=\"stl_277 stl_15 stl_267\">6,325,789 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:33.5194em;\"><span class=\"stl_277 stl_15 stl_92\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3815em;top:33.5194em;\"><span class=\"stl_277 stl_15 stl_243\">685 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:34.5413em;\"><span class=\"stl_277 stl_15 stl_190\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9071em;top:34.5413em;\"><span class=\"stl_277 stl_15 stl_489\">1,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:35.5632em;\"><span class=\"stl_277 stl_15 stl_181\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8808em;top:35.5632em;\"><span class=\"stl_277 stl_15 stl_315\">2,580 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:36.5794em;\"><span class=\"stl_269 stl_12 stl_285\" style=\"word-spacing:-0.0327em;\">Total intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5346em;top:36.5794em;\"><span class=\"stl_269 stl_12 stl_456\">6,330,892 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.5734em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8977em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_16\">Acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2815em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_17\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5027em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_39\" style=\"word-spacing:-0.04em;\">rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:40.8996em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_550\">intangible \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4977em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_165\" style=\"word-spacing:1.0869em;\">Product development \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3665em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_21\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0296em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_377\">rights \u00a0</span></div><div class=\"stl_01\" style=\"left:31.239em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_66\" style=\"word-spacing:-0.029em;\">in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:36.5484em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_223\">Software \u00a0</span></div><div class=\"stl_01\" style=\"left:41.4052em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_35\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2059em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_61\" style=\"word-spacing:-0.024em;\">Costs as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0846em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_460\">5,458,700 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8302em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_525\">1,013,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0177em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_418\">106,094 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7765em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_125\">274,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.9877em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_101\">6,852,768 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4996em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:32.3452em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_415\">389,751 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.6921em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_366\">3,034 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7834em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_116\">143,978 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4721em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_169\">536,758 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4996em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.224em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.6796em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_301\">2,353 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2127em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_115\">(2,353) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.3971em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:27.579em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_229\">449,577 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8021em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_301\">1,286,778 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.6784em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_420\">4,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4396em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_364\">1,212 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.0696em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_407\">1,741,779 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7215em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4984em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2227em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.4796em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_163\">(1,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6715em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.9284em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_163\">(1,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7209em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4977em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2221em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.1734em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_361\">497 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.3865em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_711\">(1) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6146em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_207\">496 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7202em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_52\" style=\"word-spacing:-0.016em;\">Cost as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8421em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_209\">5,908,277 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6121em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_266\">2,690,013 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9009em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_662\">114,958 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6671em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_712\">417,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8946em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_670\">9,130,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7208em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.0311em;\">Amortization and impairment losses as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5702em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_175\">818,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2227em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.3784em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_340\">91,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6715em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.5727em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_713\">910,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7215em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_377\">Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5652em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_432\">298,030 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2234em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.3752em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_125\">12,028 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6727em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.4971em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_122\">310,058 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4996em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.8077em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_460\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9484em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.0765em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.9971em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_346\">1,429,488 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.499em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2234em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.639em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_714\">(1,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6721em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.0877em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_714\">(1,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.499em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2234em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.1627em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_52\">272 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6727em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.6121em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_52\">272 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_190\" style=\"word-spacing:-0.0301em;\">Amortization and impairment losses as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.969em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_715\">1,116,835 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5909em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_326\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8965em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_340\">102,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9227em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_220\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.7177em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_43\">2,648,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_73\" style=\"word-spacing:-0.0274em;\">Carrying amount as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8746em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_175\">4,791,442 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.639em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_122\">1,286,749 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.199em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_220\">12,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6734em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_404\">391,102 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.7602em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_616\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:31.47em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:-0.033em;\">Geographical split of intangible assets \u2013 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:32.4975em;\"><span class=\"stl_277 stl_15 stl_334\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:46.0684em;top:32.4975em;\"><span class=\"stl_277 stl_15 stl_306\">6,475,179 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:33.5194em;\"><span class=\"stl_277 stl_15 stl_92\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6321em;top:33.5194em;\"><span class=\"stl_277 stl_15 stl_107\">270 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:34.5413em;\"><span class=\"stl_277 stl_15 stl_190\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1171em;top:34.5413em;\"><span class=\"stl_277 stl_15 stl_427\">2,005 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:35.5632em;\"><span class=\"stl_277 stl_15 stl_32\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1252em;top:35.5632em;\"><span class=\"stl_277 stl_15 stl_562\">4,282 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:36.5794em;\"><span class=\"stl_269 stl_12 stl_285\" style=\"word-spacing:-0.0327em;\">Total intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:45.7602em;top:36.5794em;\"><span class=\"stl_269 stl_12 stl_616\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.984em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3302em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_17\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:40.4433em;top:12.085em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0376em;\">fixtures and \u00a0</span></div><div class=\"stl_01\" style=\"left:39.9058em;top:12.7519em;\"><span class=\"stl_269 stl_12 stl_22\" style=\"word-spacing:-0.0375em;\">fittings, other \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1427em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_87\" style=\"word-spacing:-0.0428em;\">Land and \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5702em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_24\">Leasehold \u00a0</span></div><div class=\"stl_01\" style=\"left:36.4583em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0343em;\">Plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1827em;top:13.4188em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0367em;\">plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:44.924em;top:13.4188em;\"><span class=\"stl_269 stl_12 stl_495\" style=\"word-spacing:-0.0413em;\">Assets under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:14.0907em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0671em;top:14.085em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:0.9976em;\">buildings improvement \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1402em;top:14.085em;\"><span class=\"stl_269 stl_12 stl_187\">machinery \u00a0</span></div><div class=\"stl_01\" style=\"left:40.7615em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_13\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:45.0658em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_13\">construction \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9802em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_279\" style=\"word-spacing:-0.0202em;\">Costs as of January 1, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1265em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_420\">1,268,062 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.7383em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_687\">47,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0671em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_291\">646,707 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8327em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_123\">889,215 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.514em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_326\">206,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8752em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_411\">3,057,741 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5502em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2746em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.7452em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_150\">1,498 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.5252em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_716\">5,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8246em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_234\">72,825 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.634em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_715\">79,512 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0696em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_717\">11,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0508em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_320\">1,516 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4552em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_327\">71,763 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1171em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_218\">34,526 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4102em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_697\">(118,932) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1721em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">Transfer from intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5502em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2746em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.814em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_676\">3,149 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.7233em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.4477em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.9871em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_676\">3,149 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5496em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:32.8571em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_718\">(1,271) \u00a0</span></div><div class=\"stl_01\" style=\"left:37.5802em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_327\">(2,137) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0077em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_273\">(11,243) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4796em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_123\">(538) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4827em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_665\">(15,189) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.1583em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_666\">(5,144) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5008em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_361\">104 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.544em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_149\">(1,305) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3115em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_679\">(1,415) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.5221em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_649\">(416) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8096em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_410\">(8,176) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_219\" style=\"word-spacing:-0.0154em;\">Cost as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9508em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_525\">1,274,045 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5708em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_108\">47,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9708em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_244\">719,675 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6358em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_322\">916,272 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3871em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_118\">159,660 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6965em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_719\">3,117,037 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7233em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_28\" style=\"word-spacing:-0.0265em;\">Depreciation and impairment losses as of January 1,2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6377em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_156\">281,049 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6946em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_126\">21,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0702em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_175\">234,033 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.904em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_659\">193,155 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4458em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2233em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_503\">730,226 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_54\">Depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0058em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_703\">54,136 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0527em;top:24.1088em;z-index:900;\"><span class=\"stl_277 stl_15 stl_426\">7</span><span class=\"stl_277 stl_15 stl_29\">,</span><span class=\"stl_277 stl_15 stl_101\">394 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4577em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_566\">67,637 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1196em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_298\">92,301 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4465em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2302em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_389\">221,468 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2733em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.739em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_59\">1,529 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.284em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_408\">(1,529) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4465em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:53.1708em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">Transfer from intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2733em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.7458em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_115\">1,231 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.7221em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.4465em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.919em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_137\">1,231 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5483em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9971em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.1183em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_432\">12,044 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4465em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.5677em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_432\">12,044 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.2871em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_205\">(337) \u00a0</span></div><div class=\"stl_01\" style=\"left:37.559em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_630\">(2,019) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3434em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_720\">(5,198) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4471em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.7415em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_620\">(7,554) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.5965em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_367\">(146) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8215em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_61\">23 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5452em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_243\">54 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.724em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_314\">(877) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4477em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.1946em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_143\">(946) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_73\" style=\"word-spacing:-0.0275em;\">Depreciation and impairment losses as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4896em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_120\">335,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5671em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_125\">29,069 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8933em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_607\">302,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.639em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_232\">289,896 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4402em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.064em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_699\">956,469 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_35\" style=\"word-spacing:-0.0272em;\">Carrying amount as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4827em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_124\">939,006 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5683em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_155\">18,316 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0065em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_591\">417,210 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6602em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_137\">626,376 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.389em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_118\">159,660 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5708em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_651\">2,160,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:33.0157em;\"><span class=\"stl_269 stl_12 stl_21\" style=\"word-spacing:-0.0339em;\">Geographical split of property, plant and equipment \u2013 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:33.9963em;\"><span class=\"stl_277 stl_15 stl_334\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7827em;top:33.9963em;\"><span class=\"stl_277 stl_15 stl_133\">1,509,265 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:34.9713em;\"><span class=\"stl_277 stl_15 stl_92\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6458em;top:34.9713em;\"><span class=\"stl_277 stl_15 stl_667\">47,818 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:35.9463em;\"><span class=\"stl_277 stl_15 stl_190\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5771em;top:35.9463em;\"><span class=\"stl_277 stl_15 stl_231\">18,283 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:36.9213em;\"><span class=\"stl_277 stl_15 stl_181\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2446em;top:36.9213em;\"><span class=\"stl_277 stl_15 stl_484\">585,202 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:37.8907em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0328em;\">Total property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5708em;top:37.8907em;\"><span class=\"stl_269 stl_12 stl_651\">2,160,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9828em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3303em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_17\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:40.4434em;top:12.085em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0376em;\">fixtures and \u00a0</span></div><div class=\"stl_01\" style=\"left:39.9059em;top:12.7519em;\"><span class=\"stl_269 stl_12 stl_22\" style=\"word-spacing:-0.0375em;\">fittings, other \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1428em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_87\" style=\"word-spacing:-0.0428em;\">Land and \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5703em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_24\">Leasehold \u00a0</span></div><div class=\"stl_01\" style=\"left:36.4584em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0343em;\">Plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1828em;top:13.4188em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0367em;\">plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:44.924em;top:13.4188em;\"><span class=\"stl_269 stl_12 stl_495\" style=\"word-spacing:-0.0413em;\">Assets under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:14.0907em;\"><span class=\"stl_277 stl_15 stl_377\" style=\"word-spacing:-0.0396em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0672em;top:14.085em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:0.9976em;\">buildings improvement \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1403em;top:14.085em;\"><span class=\"stl_269 stl_12 stl_187\">machinery \u00a0</span></div><div class=\"stl_01\" style=\"left:40.7615em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_13\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:45.0659em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_13\">construction \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9803em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_61\" style=\"word-spacing:-0.024em;\">Costs as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5984em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_445\">858,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6684em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_218\">40,237 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.1003em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_106\">514,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8084em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_492\">626,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5978em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_585\">196,130 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7759em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_324\">2,235,315 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:27.964em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_492\">13,387 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9884em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_52\">2,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.3872em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_211\">20,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.424em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_181\">8,864 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8278em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_336\">96,836 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2497em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_101\">142,525 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0203em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_721\">79,712 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9797em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_43\">2,688 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4103em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_361\">43,983 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1603em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_662\">21,797 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.404em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_453\">(148,180) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1728em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6953em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_687\">300,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0047em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_57\">1,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.384em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_447\">86,336 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7822em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_208\">234,826 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8559em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_268\">58,926 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2547em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_266\">681,453 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:28.6178em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_722\">(178) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2747em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.339em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_399\">(27,101) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9953em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_598\">(11,603) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4484em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.3553em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_298\">(38,882) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9603em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_361\">16,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8315em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_361\">39 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7247em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_389\">8,520 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4828em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_572\">9,295 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1703em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_402\">3,009 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6278em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_723\">37,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_724\" style=\"word-spacing:-0.0159em;\">Cost as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9172em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_351\">1,268,062 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5922em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_673\">47,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9034em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_383\">646,707 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6728em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_138\">889,215 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3547em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_429\">206,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6553em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_356\">3,057,741 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_37\" 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:23.5326em;\"><span class=\"stl_277 stl_15 stl_409\">228,405 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6947em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_126\">15,472 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.1053em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_139\">192,624 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8384em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_630\">114,841 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2665em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_143\">551,342 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_54\">Depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9915em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_400\">51,424 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0109em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_101\">6,491 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4009em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_232\">62,552 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1672em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_117\">85,511 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.259em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_157\">205,978 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5503em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2747em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.1628em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_607\">(25,277) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3122em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_398\">(8,745) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.3759em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_346\">(34,022) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.2853em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_169\">1,220 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.834em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_118\">26 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7947em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_725\">4,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4484em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_389\">1,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4484em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.9165em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_161\">6,928 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_47\" 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:27.6144em;\"><span class=\"stl_269 stl_12 stl_442\">281,049 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5615em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_109\">21,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9072em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_432\">234,033 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.734em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_438\">193,155 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4403em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.0678em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_211\">730,226 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_73\" style=\"word-spacing:-0.0274em;\">Carrying amount as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5228em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_567\">987,013 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5359em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_326\">25,047 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.969em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_657\">412,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6134em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_445\">696,060 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.354em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_429\">206,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6065em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_650\">2,327,515 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8638": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_229\" style=\"word-spacing:0.0035em;\">Note 10 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_156\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">Audit of financial statements \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0975em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_336\">2,685 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.905em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_59\">3,903 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0325em;\">Other assurance services \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1082em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_207\">1,800 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.38em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_226\">268 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">Tax advisory \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3844em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:35.3644em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_95\">486 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_422\" style=\"word-spacing:-0.0355em;\">Other services \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9282em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_74\">60 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3894em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_27\">653 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:15.9907em;\"><span class=\"stl_269 stl_12 stl_190\">Fees \u00a0</span></div><div class=\"stl_01\" style=\"left:30.98em;top:15.9907em;\"><span class=\"stl_269 stl_12 stl_31\">4,545 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8019em;top:15.9907em;\"><span class=\"stl_269 stl_12 stl_106\">5,310 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:17.6013em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">The fee for non-audit services provided to the Group \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:18.4344em;\"><span class=\"stl_353 stl_15 stl_243\" style=\"word-spacing:-0.0259em;\">by KPMG P/S, Denmark, amounted to DKK 1.9 million \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:19.2676em;\"><span class=\"stl_353 stl_15 stl_179\" style=\"word-spacing:-0.0246em;\">(DKK 0.9 million) and consisted of limited assurance on \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:20.1007em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">the sustainability statements, assistance with compli- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:20.9338em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">ance reviews, and other accounting and tax advisory \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:21.7669em;\"><span class=\"stl_353 stl_15 stl_282\">services. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8641": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_101\" style=\"word-spacing:0.002em;\">Note 11 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_124\" style=\"word-spacing:0.0097em;\">Financial income \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_23 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">Interest income is recognized in the income state- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">ment at the amounts relating to the financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Financial income also includes net positive value \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">adjustments of financial instruments and securities, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">adjustment of the net present value of provisions \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">and net currency gains. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.4744em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:18.4688em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:18.4688em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.1588em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Financial income from bank and deposit contracts</span><sup style=\"top: -0.2079em;\"><span class=\"stl_280 stl_15 stl_695\" style=\"word-spacing:-0.0559em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:64.7794em;top:20.159em;\"><span class=\"stl_277 stl_15 stl_215\">48,307 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6em;top:20.159em;\"><span class=\"stl_277 stl_15 stl_38\">40,214 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:21.1809em;\"><span class=\"stl_277 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">Financial income from securities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8531em;top:21.1809em;\"><span class=\"stl_277 stl_15 stl_696\">27,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5775em;top:21.1809em;\"><span class=\"stl_277 stl_15 stl_298\">14,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:22.2028em;\"><span class=\"stl_277 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">Fair value adjustments on securities \u00a0</span></div><div class=\"stl_01\" style=\"left:65.185em;top:22.2028em;\"><span class=\"stl_277 stl_15 stl_697\">7,831 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5656em;top:22.2028em;\"><span class=\"stl_277 stl_15 stl_538\">30,777 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:23.2246em;\"><span class=\"stl_277 stl_15 stl_146\" 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:66.3988em;top:23.2246em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.6256em;top:23.2246em;\"><span class=\"stl_277 stl_15 stl_467\">13,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:24.2465em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">Currency adjustment deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3988em;top:24.2465em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.8938em;top:24.2465em;\"><span class=\"stl_277 stl_15 stl_226\">2,563 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:25.2684em;\"><span class=\"stl_277 stl_15 stl_51\" 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:66.3988em;top:25.2684em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.7088em;top:25.2684em;\"><span class=\"stl_277 stl_15 stl_698\">11,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:26.2903em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">Net foreign exchange gains \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7825em;top:26.2903em;\"><span class=\"stl_277 stl_15 stl_699\">66,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1781em;top:26.2903em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7394em;top:27.3065em;\"><span class=\"stl_269 stl_12 stl_83\" style=\"word-spacing:-0.0369em;\">Financial income \u00a0</span></div><div class=\"stl_01\" style=\"left:64.32em;top:27.3065em;\"><span class=\"stl_269 stl_12 stl_307\">150,065 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1263em;top:27.3065em;\"><span class=\"stl_269 stl_12 stl_340\">112,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.7914em;\"><span class=\"stl_238 stl_15 stl_27\">1</span></div><div class=\"stl_01\" style=\"left:39.4487em;top:28.7914em;\"><span class=\"stl_238 stl_15 stl_499\" style=\"word-spacing:-0.0453em;\">Interest income from financial assets measured at amortized cost \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8642": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_101\" style=\"word-spacing:0.002em;\">Note 11 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_124\" style=\"word-spacing:0.0097em;\">Financial income \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_23 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">Interest income is recognized in the income state- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">ment at the amounts relating to the financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Financial income also includes net positive value \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">adjustments of financial instruments and securities, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">adjustment of the net present value of provisions \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">and net currency gains. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.4744em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:18.4688em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:18.4688em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.1588em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Financial income from bank and deposit contracts</span><sup style=\"top: -0.2079em;\"><span class=\"stl_280 stl_15 stl_695\" style=\"word-spacing:-0.0559em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:64.7794em;top:20.159em;\"><span class=\"stl_277 stl_15 stl_215\">48,307 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6em;top:20.159em;\"><span class=\"stl_277 stl_15 stl_38\">40,214 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:21.1809em;\"><span class=\"stl_277 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">Financial income from securities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8531em;top:21.1809em;\"><span class=\"stl_277 stl_15 stl_696\">27,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5775em;top:21.1809em;\"><span class=\"stl_277 stl_15 stl_298\">14,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:22.2028em;\"><span class=\"stl_277 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">Fair value adjustments on securities \u00a0</span></div><div class=\"stl_01\" style=\"left:65.185em;top:22.2028em;\"><span class=\"stl_277 stl_15 stl_697\">7,831 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5656em;top:22.2028em;\"><span class=\"stl_277 stl_15 stl_538\">30,777 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:23.2246em;\"><span class=\"stl_277 stl_15 stl_146\" 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:66.3988em;top:23.2246em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.6256em;top:23.2246em;\"><span class=\"stl_277 stl_15 stl_467\">13,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:24.2465em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">Currency adjustment deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3988em;top:24.2465em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.8938em;top:24.2465em;\"><span class=\"stl_277 stl_15 stl_226\">2,563 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:25.2684em;\"><span class=\"stl_277 stl_15 stl_51\" 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:66.3988em;top:25.2684em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.7088em;top:25.2684em;\"><span class=\"stl_277 stl_15 stl_698\">11,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:26.2903em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">Net foreign exchange gains \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7825em;top:26.2903em;\"><span class=\"stl_277 stl_15 stl_699\">66,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1781em;top:26.2903em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7394em;top:27.3065em;\"><span class=\"stl_269 stl_12 stl_83\" style=\"word-spacing:-0.0369em;\">Financial income \u00a0</span></div><div class=\"stl_01\" style=\"left:64.32em;top:27.3065em;\"><span class=\"stl_269 stl_12 stl_307\">150,065 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1263em;top:27.3065em;\"><span class=\"stl_269 stl_12 stl_340\">112,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.7914em;\"><span class=\"stl_238 stl_15 stl_27\">1</span></div><div class=\"stl_01\" style=\"left:39.4487em;top:28.7914em;\"><span class=\"stl_238 stl_15 stl_499\" style=\"word-spacing:-0.0453em;\">Interest income from financial assets measured at amortized cost \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8643": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_23 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">Interest income is recognized in the income state- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">ment at the amounts relating to the financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Financial income also includes net positive value \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">adjustments of financial instruments and securities, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">adjustment of the net present value of provisions \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">and net currency gains. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8645": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_23 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">Interest income is recognized in the income state- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">ment at the amounts relating to the financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Financial income also includes net positive value \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">adjustments of financial instruments and securities, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">adjustment of the net present value of provisions \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">and net currency gains. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_23 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">Interest expenses are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">statement at the amounts relating to the financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">year. Financial expenses also include adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">of net present value of the deferred consideration, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">cf. note 24, negative value adjustments of financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">instruments and securities and net currency losses. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8650": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_101\" style=\"word-spacing:0.002em;\">Note 12 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_366\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Interest expenses on debt</span><sup style=\"top: -0.2079em;\"><span class=\"stl_280 stl_15 stl_198\" style=\"word-spacing:-0.0502em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:31.1838em;top:19.3257em;\"><span class=\"stl_277 stl_15 stl_693\">5,190 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8963em;top:19.3257em;\"><span class=\"stl_277 stl_15 stl_27\">3,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3476em;\"><span class=\"stl_277 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">Unwinding of the discount related to deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7594em;top:20.3476em;\"><span class=\"stl_277 stl_15 stl_178\">72,682 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2932em;top:20.3476em;\"><span class=\"stl_277 stl_15 stl_672\">101,961 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.3694em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">Adjustment of deferred consideration due to change in estimated timing of payments \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1494em;top:21.3694em;\"><span class=\"stl_277 stl_15 stl_415\">7,090 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1632em;top:21.3694em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.3913em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">Currency adjustment deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7719em;top:22.3913em;\"><span class=\"stl_277 stl_15 stl_402\">24,899 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1626em;top:22.3913em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.4132em;\"><span class=\"stl_277 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">Financial expenses, other \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1569em;top:23.4132em;\"><span class=\"stl_277 stl_15 stl_587\">8,617 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6063em;top:23.4132em;\"><span class=\"stl_277 stl_15 stl_374\">11,469 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.4351em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">Net foreign exchange losses \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3751em;top:24.4294em;\"><span class=\"stl_551 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.592em;top:24.4351em;\"><span class=\"stl_277 stl_15 stl_111\">15,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.4513em;\"><span class=\"stl_269 stl_12 stl_223\" style=\"word-spacing:-0.0379em;\">Financial expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3332em;top:25.4513em;\"><span class=\"stl_269 stl_12 stl_158\">118,478 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0751em;top:25.4513em;\"><span class=\"stl_269 stl_12 stl_175\">132,380 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.936em;\"><span class=\"stl_238 stl_15 stl_27\">1</span></div><div class=\"stl_01\" style=\"left:5.4329em;top:26.936em;\"><span class=\"stl_238 stl_15 stl_199\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8651": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_101\" style=\"word-spacing:0.002em;\">Note 12 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_366\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Interest expenses on debt</span><sup style=\"top: -0.2079em;\"><span class=\"stl_280 stl_15 stl_198\" style=\"word-spacing:-0.0502em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:31.1838em;top:19.3257em;\"><span class=\"stl_277 stl_15 stl_693\">5,190 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8963em;top:19.3257em;\"><span class=\"stl_277 stl_15 stl_27\">3,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3476em;\"><span class=\"stl_277 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">Unwinding of the discount related to deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7594em;top:20.3476em;\"><span class=\"stl_277 stl_15 stl_178\">72,682 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2932em;top:20.3476em;\"><span class=\"stl_277 stl_15 stl_672\">101,961 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.3694em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">Adjustment of deferred consideration due to change in estimated timing of payments \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1494em;top:21.3694em;\"><span class=\"stl_277 stl_15 stl_415\">7,090 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1632em;top:21.3694em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.3913em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">Currency adjustment deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7719em;top:22.3913em;\"><span class=\"stl_277 stl_15 stl_402\">24,899 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1626em;top:22.3913em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.4132em;\"><span class=\"stl_277 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">Financial expenses, other \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1569em;top:23.4132em;\"><span class=\"stl_277 stl_15 stl_587\">8,617 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6063em;top:23.4132em;\"><span class=\"stl_277 stl_15 stl_374\">11,469 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.4351em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">Net foreign exchange losses \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3751em;top:24.4294em;\"><span class=\"stl_551 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.592em;top:24.4351em;\"><span class=\"stl_277 stl_15 stl_111\">15,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.4513em;\"><span class=\"stl_269 stl_12 stl_223\" style=\"word-spacing:-0.0379em;\">Financial expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3332em;top:25.4513em;\"><span class=\"stl_269 stl_12 stl_158\">118,478 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0751em;top:25.4513em;\"><span class=\"stl_269 stl_12 stl_175\">132,380 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.936em;\"><span class=\"stl_238 stl_15 stl_27\">1</span></div><div class=\"stl_01\" style=\"left:5.4329em;top:26.936em;\"><span class=\"stl_238 stl_15 stl_199\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8661": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_228\" style=\"word-spacing:0.0025em;\">Note 13 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_374\" style=\"word-spacing:0.026em;\">Tax for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.2244em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1859em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9634em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:11.8919em;\"><span class=\"stl_269 stl_12 stl_68\" style=\"word-spacing:-0.0296em;\">Tax recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:12.8963em;\"><span class=\"stl_277 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">Current tax on profit for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8528em;top:12.8963em;\"><span class=\"stl_277 stl_15 stl_656\">11,211 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6096em;top:12.8963em;\"><span class=\"stl_277 stl_15 stl_327\">11,493 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:13.895em;\"><span class=\"stl_277 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">Adjustments to current tax for previous years \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0171em;top:13.895em;\"><span class=\"stl_277 stl_15 stl_633\">(3,119) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7459em;top:13.895em;\"><span class=\"stl_277 stl_15 stl_453\">(9,929) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:14.9113em;\"><span class=\"stl_269 stl_12 stl_51\" style=\"word-spacing:-0.032em;\">Current tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9846em;top:14.9113em;\"><span class=\"stl_269 stl_12 stl_416\">8,092 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7584em;top:14.9113em;\"><span class=\"stl_269 stl_12 stl_445\">1,564 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:16.495em;\"><span class=\"stl_277 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">Change in deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6228em;top:16.495em;\"><span class=\"stl_277 stl_15 stl_700\">(24,712) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9471em;top:16.495em;\"><span class=\"stl_277 stl_15 stl_701\">6,190 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:17.5113em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0329em;\">Deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4396em;top:17.5113em;\"><span class=\"stl_269 stl_12 stl_134\">(24,712) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8203em;top:17.5113em;\"><span class=\"stl_269 stl_12 stl_398\">6,190 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:19.0894em;\"><span class=\"stl_269 stl_12 stl_54\" style=\"word-spacing:-0.0299em;\">Tax for the year recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4527em;top:19.0894em;\"><span class=\"stl_269 stl_12 stl_375\">(16,620) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.824em;top:19.0894em;\"><span class=\"stl_269 stl_12 stl_423\">7,754 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:20.6675em;\"><span class=\"stl_269 stl_12 stl_55\" style=\"word-spacing:-0.0316em;\">Tax on income for the year is explained as follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:21.6719em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">Income before company tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4665em;top:21.6719em;\"><span class=\"stl_277 stl_15 stl_130\">971,357 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7452em;top:21.6719em;\"><span class=\"stl_277 stl_15 stl_267\">1,482,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:22.6707em;\"><span class=\"stl_277 stl_15 stl_44\" style=\"word-spacing:-0.0259em;\">Calculated tax (22.0%) on income before company tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4759em;top:22.6707em;\"><span class=\"stl_277 stl_15 stl_135\">213,699 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.254em;top:22.6707em;\"><span class=\"stl_277 stl_15 stl_135\">326,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:24.2432em;\"><span class=\"stl_269 stl_12 stl_67\" style=\"word-spacing:-0.0284em;\">Tax effect on: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:25.2475em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Different tax percentage in foreign subsidiaries \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5827em;top:25.2475em;\"><span class=\"stl_277 stl_15 stl_150\">(31,236) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6759em;top:25.2475em;\"><span class=\"stl_277 stl_15 stl_228\">(3,308) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:26.2463em;\"><span class=\"stl_277 stl_15 stl_67\" 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:30.9615em;top:26.2463em;\"><span class=\"stl_277 stl_15 stl_702\">(3,197) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.1952em;top:26.2463em;\"><span class=\"stl_277 stl_15 stl_311\">(747) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:27.245em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Income ()/expenses that are not taxable/deductible for tax purposes \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5959em;top:27.245em;\"><span class=\"stl_277 stl_15 stl_122\">(13,657) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5615em;top:27.245em;\"><span class=\"stl_277 stl_15 stl_267\">16,273 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:28.2438em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Deduction for interest and currency adjustments related to debt forgiveness \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3734em;top:28.2438em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.3565em;top:28.2438em;\"><span class=\"stl_277 stl_15 stl_382\">(60,009) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:29.2425em;\"><span class=\"stl_277 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">Special tax credit \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6321em;top:29.2425em;\"><span class=\"stl_277 stl_15 stl_99\">(12,321) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3652em;top:29.2425em;\"><span class=\"stl_277 stl_15 stl_126\">(32,788) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:30.2413em;\"><span class=\"stl_277 stl_15 stl_85\" style=\"word-spacing:-0.0317em;\">Change in unrealized intra-group profits \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7446em;top:30.2413em;\"><span class=\"stl_277 stl_15 stl_325\">40,866 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4184em;top:30.2413em;\"><span class=\"stl_277 stl_15 stl_703\">(11,025) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:31.24em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Change in non-recognized tax asset \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2971em;top:31.24em;\"><span class=\"stl_277 stl_15 stl_233\">(207,655) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0415em;top:31.24em;\"><span class=\"stl_277 stl_15 stl_126\">(216,960) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:32.2388em;\"><span class=\"stl_277 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">Adjustments to current tax for previous years \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0171em;top:32.2388em;\"><span class=\"stl_277 stl_15 stl_633\">(3,119) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7459em;top:32.2388em;\"><span class=\"stl_277 stl_15 stl_453\">(9,929) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:33.2319em;\"><span class=\"stl_269 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Tax on income for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4534em;top:33.2319em;\"><span class=\"stl_269 stl_12 stl_375\">(16,620) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8246em;top:33.2319em;\"><span class=\"stl_269 stl_12 stl_568\">7,754 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:34.81em;\"><span class=\"stl_269 stl_12 stl_193\" style=\"word-spacing:-0.0304em;\">Tax recognized in other comprehensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:35.8144em;\"><span class=\"stl_277 stl_15 stl_29\" style=\"word-spacing:-0.0301em;\">Remeasurements of defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1846em;top:35.8144em;\"><span class=\"stl_277 stl_15 stl_646\">4,171 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8734em;top:35.8144em;\"><span class=\"stl_277 stl_15 stl_427\">4,505 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:37.3869em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:-0.0307em;\">Tax recognized in equity \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:38.3913em;\"><span class=\"stl_277 stl_15 stl_56\" style=\"word-spacing:-0.0245em;\">Tax on share based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.374em;top:38.3913em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.1534em;top:38.3913em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.1638em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">Tax on income is an income of DKK 16.6 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.9969em;\"><span class=\"stl_353 stl_15 stl_64\" style=\"word-spacing:-0.0223em;\">(expense of DKK 7.8 million), corresponding to an \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.83em;\"><span class=\"stl_353 stl_15 stl_179\" style=\"word-spacing:-0.0246em;\">effective negative tax rate of 1.7% (positive 0.5%). The \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.6632em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0248em;\">parent company\u2019s taxable income for 2024 is DKK 0.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.4963em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">million after use of tax losses carried forward (DKK 0.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.3294em;\"><span class=\"stl_353 stl_15 stl_56\" style=\"word-spacing:-0.0245em;\">million). Current tax expensed in 2024 relates mainly \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.1625em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">to Bavarian Nordic GmbH, while change in deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.9957em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0256em;\">recognized as income in 2024 relates solely to Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.8288em;\"><span class=\"stl_353 stl_15 stl_391\" style=\"word-spacing:-0.0368em;\">Nordic Berna GmbH. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.4957em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">'Income()/expenses that are not taxable/deductible \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.3288em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">for tax purposes' is primarily related Bavarian Nordic \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.1619em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">Inc. use of previously not recognized tax loss carried \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.995em;\"><span class=\"stl_353 stl_15 stl_422\">forward. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.6619em;\"><span class=\"stl_353 stl_15 stl_66\" 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:23.495em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0327em;\">up deduction on research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.3282em;\"><span class=\"stl_353 stl_15 stl_288\" 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:25.1613em;\"><span class=\"stl_353 stl_15 stl_490\">Act. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.8282em;\"><span class=\"stl_353 stl_15 stl_180\" style=\"word-spacing:-0.0238em;\">'Current tax on profit for previous years' relates \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.6613em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">primarily to refunded state taxes in Bavarian Nordic Inc. \u00a0</span></div><div class=\"stl_01\" style=\"left:23.383em;top:10.4578em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3811em;top:11.6572em;\"><span class=\"stl_269 stl_12 stl_390\">Exchange \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9561em;top:12.4072em;\"><span class=\"stl_269 stl_12 stl_46\">rate \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0986em;top:13.1572em;\"><span class=\"stl_269 stl_12 stl_285\">adjust- \u00a0</span></div><div class=\"stl_01\" style=\"left:20.3099em;top:13.9072em;\"><span class=\"stl_269 stl_12 stl_16\">Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4105em;top:13.9072em;\"><span class=\"stl_269 stl_12 stl_95\" style=\"word-spacing:-0.038em;\">ments on \u00a0</span></div><div class=\"stl_01\" style=\"left:15.9874em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_390\">Adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.9292em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_490\" style=\"word-spacing:-0.0427em;\">in the \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9324em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_223\">translating \u00a0</span></div><div class=\"stl_01\" style=\"left:12.1836em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0366em;\">January 1, \u00a0</span></div><div class=\"stl_01\" style=\"left:16.1092em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0305em;\">to previous \u00a0</span></div><div class=\"stl_01\" style=\"left:21.503em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_21\">income \u00a0</span></div><div class=\"stl_01\" style=\"left:24.5617em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_16\">Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0167em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_41\">foreign \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4592em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_195\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:16.1628em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:13.7061em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.093em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_42\">year \u00a0</span></div><div class=\"stl_01\" style=\"left:20.6274em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:25.2786em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_260\" style=\"word-spacing:-0.0453em;\">in equity \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9955em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_392\">operations \u00a0</span></div><div class=\"stl_01\" style=\"left:33.9355em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_581\" style=\"word-spacing:0.0212em;\">31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7155em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_493\" style=\"word-spacing:-0.0385em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:12.6836em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_306\">(50,074) \u00a0</span></div><div class=\"stl_01\" style=\"left:17.7911em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_416\">(977) \u00a0</span></div><div class=\"stl_01\" style=\"left:20.8242em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_107\">(126,909) \u00a0</span></div><div class=\"stl_01\" style=\"left:27.178em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.4299em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.3836em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_587\">(177,960) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7155em;top:18.8691em;\"><span class=\"stl_277 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">Acquired rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7155em;top:19.7022em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">development in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7155em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_243\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:12.4399em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_704\">(111,104) \u00a0</span></div><div class=\"stl_01\" style=\"left:17.3467em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_116\">(9,686) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.1111em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_175\">(56,605) \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1774em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.4292em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.3792em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_449\">(177,395) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7149em;top:21.5572em;\"><span class=\"stl_277 stl_15 stl_25\" style=\"word-spacing:-0.0313em;\">Property, plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7149em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_392\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:12.8124em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_214\">52,065 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.8705em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_631\">(761) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.1549em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_162\">(16,354) \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1774em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.6467em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_427\">472 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8492em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_27\">35,422 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7149em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_63\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:13.6574em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_123\">183 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7911em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:22.1567em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_38\">271 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1767em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.4286em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.6642em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_389\">454 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:24.4341em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">Development projects \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">for sale \u00a0</span></div><div class=\"stl_01\" style=\"left:12.8199em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_350\">25,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7905em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:21.4861em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_408\">(6,501) \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1761em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.428em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.8892em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_671\">19,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7136em;top:26.2891em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Unrealized intra-group \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7136em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_68\">profits \u00a0</span></div><div class=\"stl_01\" style=\"left:12.9986em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_672\">(9,598) \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7905em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:21.1149em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_203\">(40,866) \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1767em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.673em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_244\">913 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7361em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_09\">(49,551) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7149em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_66\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:13.6692em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_598\">218 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7911em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:22.133em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_243\">225 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1767em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.4286em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.6586em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_52\">443 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_243\">Provisions \u00a0</span></div><div class=\"stl_01\" style=\"left:13.2236em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_631\">1,100 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.0574em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_417\">110 \u00a0</span></div><div class=\"stl_01\" style=\"left:22.1492em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_202\">330 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1761em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.428em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.1711em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_562\">1,540 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7136em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:12.9311em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_705\">11,173 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7899em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:21.3324em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_267\">10,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.9861em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_646\">4,171 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4261em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_475\">(287) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8317em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_402\">25,900 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">Financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:12.6467em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_111\">(10,095) \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7911em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:22.2899em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_362\">(89) \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5767em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_350\">16,609 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4286em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.1692em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_214\">6,425 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:12.8355em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_346\">35,790 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7905em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:21.6955em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_367\">9,393 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1761em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.428em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.9224em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_411\">45,183 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:33.2535em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_289\">forward \u00a0</span></div><div class=\"stl_01\" style=\"left:12.5161em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_38\">445,010 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.1736em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_344\">(15) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.3611em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_688\">43,319 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1761em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.4949em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_404\">(913) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5461em;top:34.0866em;z-index:997;\"><span class=\"stl_277 stl_15 stl_62\">48</span><span class=\"stl_277 stl_15 stl_426\">7</span><span class=\"stl_277 stl_15 stl_207\">,401 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7136em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_268\" style=\"word-spacing:-0.0273em;\">Not recognized tax asset \u00a0</span></div><div class=\"stl_01\" style=\"left:12.3636em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_647\">(419,680) \u00a0</span></div><div class=\"stl_01\" style=\"left:17.2405em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_672\">11,329 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.0567em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_244\">207,655 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.3961em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_122\">(16,609) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4274em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.3724em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_224\">(217,305) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.713em;top:36.1247em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0301em;\">Recognized deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:4.713em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_422\" style=\"word-spacing:-0.0355em;\">tax assets/liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:12.4692em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_393\">(29,068) \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7817em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:21.2067em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_357\">24,712 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.8574em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_591\">4,171 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5955em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_158\">185 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4349em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:57.9393em;top:10.4578em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1781em;top:11.6572em;\"><span class=\"stl_269 stl_12 stl_390\">Exchange \u00a0</span></div><div class=\"stl_01\" style=\"left:66.7531em;top:12.4072em;\"><span class=\"stl_269 stl_12 stl_46\">rate \u00a0</span></div><div class=\"stl_01\" style=\"left:65.8956em;top:13.1572em;\"><span class=\"stl_269 stl_12 stl_285\">adjust- \u00a0</span></div><div class=\"stl_01\" style=\"left:53.81em;top:13.9072em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:0.4619em;\">Additions Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2075em;top:13.9072em;\"><span class=\"stl_269 stl_12 stl_95\" style=\"word-spacing:-0.038em;\">ments on \u00a0</span></div><div class=\"stl_01\" style=\"left:49.1862em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_195\" style=\"word-spacing:0.7418em;\">Adjustment from</span></div><div class=\"stl_01\" style=\"left:54.747em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_194\">Acqui- \u00a0</span></div><div class=\"stl_01\" style=\"left:58.6712em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_490\" style=\"word-spacing:-0.0427em;\">in the \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7293em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_223\">translating \u00a0</span></div><div class=\"stl_01\" style=\"left:45.7368em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0366em;\">January 1,</span></div><div class=\"stl_01\" style=\"left:49.303em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0305em;\">to previous \u00a0</span></div><div class=\"stl_01\" style=\"left:54.2em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_51\" style=\"word-spacing:-0.032em;\">sition of \u00a0</span></div><div class=\"stl_01\" style=\"left:58.245em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_55\" style=\"word-spacing:0.4654em;\">income Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:65.8137em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:0.7159em;\">foreign December \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:16.1628em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2568em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2918em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:0.6112em;\">year businessess</span></div><div class=\"stl_01\" style=\"left:57.364em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:61.5481em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_260\" style=\"word-spacing:-0.0453em;\">in equity</span></div><div class=\"stl_01\" style=\"left:64.786em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_392\">operations \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0218em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_572\" style=\"word-spacing:0.0196em;\">31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_493\" style=\"word-spacing:-0.0375em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8337em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_537\">62,881 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.345em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5968em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.075em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_696\">(112,955) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9193em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.6987em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.5037em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_306\">(50,074) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7406em;top:18.8691em;\"><span class=\"stl_277 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">Acquired rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7406em;top:19.7022em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">development in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7406em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_243\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:46.9831em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_156\">(2,659) \u00a0</span></div><div class=\"stl_01\" style=\"left:52.345em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5968em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.0125em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_442\">(108,445) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.92em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.6993em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.2606em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_704\">(111,104) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:21.5572em;\"><span class=\"stl_277 stl_15 stl_25\" style=\"word-spacing:-0.0313em;\">Property, plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_392\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:46.9137em;top:22.3903em;z-index:1642;\"><span class=\"stl_277 stl_15 stl_243\">88</span><span class=\"stl_277 stl_15 stl_648\">,</span><span class=\"stl_277 stl_15 stl_486\">124 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5587em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_45\">643 \u00a0</span></div><div class=\"stl_01\" style=\"left:54.7843em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_484\">(33,546) \u00a0</span></div><div class=\"stl_01\" style=\"left:58.695em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_123\">(1,223) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.92em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:66.2968em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_697\">(1,933) \u00a0</span></div><div class=\"stl_01\" style=\"left:69.6343em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_214\">52,065 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_63\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6693em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_562\">287 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3456em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5975em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:59.1837em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_364\">(104) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.92em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.6993em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:70.4793em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_123\">183 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:24.4341em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">Development projects \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">for sale \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8306em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_699\">32,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3449em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5968em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.6968em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_152\">(6,502) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.92em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.6993em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.6418em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_350\">25,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:26.2891em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Unrealized intra-group \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_68\">profits \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6631em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_112\">(21,265) \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3449em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5968em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.5962em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_689\">11,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.92em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:66.9106em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_46\">642 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.8212em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_672\">(9,598) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_66\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6931em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_335\">191 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3456em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5975em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:59.6987em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_161\">27 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9206em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.7em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:70.4912em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_598\">218 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7418em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_243\">Provisions \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4481em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.3456em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5975em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.9443em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_631\">1,100 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9206em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.7em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:70.0468em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_631\">1,100 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7418em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4481em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.3456em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:55.3918em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_666\">7,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7068em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_415\">(1,428) \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6393em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_427\">4,505 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.9043em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_51\">364 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.7543em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_705\">11,173 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7418em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">Financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:47.0368em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_436\">(7,017) \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3456em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5975em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:60.1406em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:62.4731em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_119\">(3,078) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6993em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.4687em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_111\">(10,095) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8893em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_400\">27,405 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3449em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5968em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.8543em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_212\">8,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9193em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.6987em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.6575em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_346\">35,790 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7406em;top:33.2535em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7406em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_289\">forward \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5243em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_202\">470,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6437em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_706\">(11,703) \u00a0</span></div><div class=\"stl_01\" style=\"left:56.5962em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.3937em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_367\">(13,030) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9193em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:66.735em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_159\">(642) \u00a0</span></div><div class=\"stl_01\" style=\"left:69.3381em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_137\">445,010 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_268\" style=\"word-spacing:-0.0273em;\">Not recognized tax asset \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3412em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_114\">(650,778) \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7762em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_340\">11,060 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.5974em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.2274em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_157\">216,960 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6712em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_118\">3,078 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6999em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.1874em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_647\">(419,680) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7418em;top:36.1247em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0301em;\">Recognized deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7418em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_422\" style=\"word-spacing:-0.0355em;\">tax assets/liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4406em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.3381em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:54.6512em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_133\">(25,814) \u00a0</span></div><div class=\"stl_01\" style=\"left:58.6043em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_441\">(6,190) \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5174em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_317\">4,505 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.1218em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_152\">(1,569) \u00a0</span></div><div class=\"stl_01\" style=\"left:69.2931em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_393\">(29,068) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:10.2083em;\"><span class=\"stl_352 stl_12 stl_194\" style=\"word-spacing:-0.0329em;\">Deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:11.0471em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">Deferred tax assets relate to temporary differences \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:11.8802em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0343em;\">between the tax base and accounting carrying amount \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:12.7133em;\"><span class=\"stl_353 stl_15 stl_391\" style=\"word-spacing:-0.0367em;\">and tax losses carried forward. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:14.3802em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">Deferred tax assets arising from temporary deductible \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:15.2133em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">differences and tax losses carried forward are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:16.0465em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">nized to the extent they are expected to be offset \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:16.8796em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">against future taxable income. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:18.5465em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">Recognized tax losses carried forward relate to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:19.3796em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Bavarian Nordic A/S and the two Danish subsidiaries \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:20.2127em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">Aktieselskabet af 1. juni 2011 I and Aktieselskabet af 1. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:21.0458em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">juni 2011 II regulated within Danish tax jurisdiction and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:21.879em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.033em;\">Bavarian Nordic Berna GmbH regulated within the Swiss \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:22.7121em;\"><span class=\"stl_353 stl_15 stl_348\" style=\"word-spacing:-0.0391em;\">tax jurisdiction. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:24.379em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">The tax value of non-recognized tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:25.2121em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">forward in Bavarian Nordic A/S and the two Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:26.0452em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">subsidiaries amounts to DKK 482.9 million (DKK 445.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:26.8783em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.0271em;\">million), whereas the tax value of non-recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:27.7115em;\"><span class=\"stl_353 stl_15 stl_83\" style=\"word-spacing:-0.037em;\">temporary deductible differences amounts to DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:28.5446em;\"><span class=\"stl_353 stl_15 stl_178\" style=\"word-spacing:-0.0176em;\">-265.6 million (DKK -25.3 million). Tax rate used for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:29.3777em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Danish entities is 22.0%. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:31.0446em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0347em;\">For Bavarian Nordic Berna GmbH, the tax value of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:31.8777em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0342em;\">non-recognized tax losses carried forward amounts to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:32.7108em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0299em;\">DKK 4.5 million (DKK 0 million), whereas the tax value \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:33.544em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">of non-recognized temporary deductible differences \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:10.2108em;\"><span class=\"stl_353 stl_15 stl_48\" style=\"word-spacing:-0.0261em;\">amounts to DKK -4.5 million (DKK 0 million). Tax rate \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:11.044em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.028em;\">used for Swiss entities is 22.8%. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:12.7108em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">For the Group in total, the tax value of non-recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:13.544em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">tax losses carried forward amounts to DKK 487.4 million \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:14.3771em;\"><span class=\"stl_353 stl_15 stl_42\" style=\"word-spacing:-0.0234em;\">(DKK 445.0 million), whereas the tax value of non-rec- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:15.2102em;\"><span class=\"stl_353 stl_15 stl_164\" style=\"word-spacing:-0.0364em;\">ognized temporary deductible differences amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:16.0433em;\"><span class=\"stl_353 stl_15 stl_34\" style=\"word-spacing:-0.0204em;\">to DKK -270.1 million (DKK -25.3 million), bringing the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:16.8765em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.0271em;\">net non-recognized tax asset to DKK 217.3 million (DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:17.7096em;\"><span class=\"stl_353 stl_15 stl_535\" style=\"word-spacing:-0.0092em;\">419.7 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:19.3765em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Danish joint taxed company's right to use the tax losses \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:20.2096em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">carried forward is not time-limited. Use of tax losses \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:21.0427em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">carried forward for the Swiss entity, Bavarian Nordic \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:21.8758em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Berna GmbH, is limited to 7 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:23.5371em;\"><span class=\"stl_352 stl_12 stl_13\" style=\"word-spacing:-0.0393em;\">Pillar II \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:24.3758em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">Following the net result for 2024 the Bavarian Nordic \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:25.209em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">Group will become in scope of the Minimum Tax Act \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:26.0421em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0277em;\">(Pillar II) from 2025, as adopted by the Danish Parlia- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:26.8752em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">ment on December 7, 2023. No additional tax costs is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:27.7083em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">expected for the Bavarian Nordic Group, based on the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:28.5415em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">current group structure. It will result in a not insignifi- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:29.3746em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">cant compliance task for the Bavarian Nordic Group if \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:30.2077em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">the group is unable to utilize the safe harbour rules. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8652": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_23 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">Interest expenses are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">statement at the amounts relating to the financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">year. Financial expenses also include adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">of net present value of the deferred consideration, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">cf. note 24, negative value adjustments of financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">instruments and securities and net currency losses. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8653": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_23 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">Interest expenses are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">statement at the amounts relating to the financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">year. Financial expenses also include adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">of net present value of the deferred consideration, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">cf. note 24, negative value adjustments of financial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">instruments and securities and net currency losses. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8662": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_23 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_146\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_67\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0381em;\"><span class=\"stl_353 stl_15 stl_68\" 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_353 stl_15 stl_165\" 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_353 stl_15 stl_44\" style=\"word-spacing:-0.0257em;\">vant items. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3712em;\"><span class=\"stl_353 stl_15 stl_73\" 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_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">sheet under current assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.8712em;\"><span class=\"stl_353 stl_15 stl_284\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_96\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_73\" 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_353 stl_15 stl_378\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_165\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_75\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">foreseeable future. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5349em;\"><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_92\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8663": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_23 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_146\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_67\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0381em;\"><span class=\"stl_353 stl_15 stl_68\" 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_353 stl_15 stl_165\" 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_353 stl_15 stl_44\" style=\"word-spacing:-0.0257em;\">vant items. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3712em;\"><span class=\"stl_353 stl_15 stl_73\" 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_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">sheet under current assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.8712em;\"><span class=\"stl_353 stl_15 stl_284\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_96\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_73\" 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_353 stl_15 stl_378\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_165\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_75\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">foreseeable future. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5349em;\"><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_92\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8659": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:17.6411em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Interest expenses on debt</span><sup style=\"top: -0.2079em;\"><span class=\"stl_280 stl_15 stl_198\" style=\"word-spacing:-0.0502em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:31.1838em;top:19.3257em;\"><span class=\"stl_277 stl_15 stl_693\">5,190 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8963em;top:19.3257em;\"><span class=\"stl_277 stl_15 stl_27\">3,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3476em;\"><span class=\"stl_277 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">Unwinding of the discount related to deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7594em;top:20.3476em;\"><span class=\"stl_277 stl_15 stl_178\">72,682 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2932em;top:20.3476em;\"><span class=\"stl_277 stl_15 stl_672\">101,961 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.3694em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">Adjustment of deferred consideration due to change in estimated timing of payments \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1494em;top:21.3694em;\"><span class=\"stl_277 stl_15 stl_415\">7,090 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1632em;top:21.3694em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.3913em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">Currency adjustment deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7719em;top:22.3913em;\"><span class=\"stl_277 stl_15 stl_402\">24,899 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1626em;top:22.3913em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.4132em;\"><span class=\"stl_277 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">Financial expenses, other \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1569em;top:23.4132em;\"><span class=\"stl_277 stl_15 stl_587\">8,617 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6063em;top:23.4132em;\"><span class=\"stl_277 stl_15 stl_374\">11,469 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.4351em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">Net foreign exchange losses \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3751em;top:24.4294em;\"><span class=\"stl_551 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.592em;top:24.4351em;\"><span class=\"stl_277 stl_15 stl_111\">15,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.4513em;\"><span class=\"stl_269 stl_12 stl_223\" style=\"word-spacing:-0.0379em;\">Financial expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3332em;top:25.4513em;\"><span class=\"stl_269 stl_12 stl_158\">118,478 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0751em;top:25.4513em;\"><span class=\"stl_269 stl_12 stl_175\">132,380 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.936em;\"><span class=\"stl_238 stl_15 stl_27\">1</span></div><div class=\"stl_01\" style=\"left:5.4329em;top:26.936em;\"><span class=\"stl_238 stl_15 stl_199\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8660": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:17.6411em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Interest expenses on debt</span><sup style=\"top: -0.2079em;\"><span class=\"stl_280 stl_15 stl_198\" style=\"word-spacing:-0.0502em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:31.1838em;top:19.3257em;\"><span class=\"stl_277 stl_15 stl_693\">5,190 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8963em;top:19.3257em;\"><span class=\"stl_277 stl_15 stl_27\">3,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3476em;\"><span class=\"stl_277 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">Unwinding of the discount related to deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7594em;top:20.3476em;\"><span class=\"stl_277 stl_15 stl_178\">72,682 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2932em;top:20.3476em;\"><span class=\"stl_277 stl_15 stl_672\">101,961 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.3694em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">Adjustment of deferred consideration due to change in estimated timing of payments \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1494em;top:21.3694em;\"><span class=\"stl_277 stl_15 stl_415\">7,090 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1632em;top:21.3694em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.3913em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">Currency adjustment deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7719em;top:22.3913em;\"><span class=\"stl_277 stl_15 stl_402\">24,899 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1626em;top:22.3913em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.4132em;\"><span class=\"stl_277 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">Financial expenses, other \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1569em;top:23.4132em;\"><span class=\"stl_277 stl_15 stl_587\">8,617 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6063em;top:23.4132em;\"><span class=\"stl_277 stl_15 stl_374\">11,469 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.4351em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">Net foreign exchange losses \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3751em;top:24.4294em;\"><span class=\"stl_551 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.592em;top:24.4351em;\"><span class=\"stl_277 stl_15 stl_111\">15,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.4513em;\"><span class=\"stl_269 stl_12 stl_223\" style=\"word-spacing:-0.0379em;\">Financial expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3332em;top:25.4513em;\"><span class=\"stl_269 stl_12 stl_158\">118,478 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0751em;top:25.4513em;\"><span class=\"stl_269 stl_12 stl_175\">132,380 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.936em;\"><span class=\"stl_238 stl_15 stl_27\">1</span></div><div class=\"stl_01\" style=\"left:5.4329em;top:26.936em;\"><span class=\"stl_238 stl_15 stl_199\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8667": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:25.3712em;\"><span class=\"stl_353 stl_15 stl_67\" 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_353 stl_15 stl_96\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_73\" 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_353 stl_15 stl_378\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_165\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_75\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">foreseeable future. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5349em;\"><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_92\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8674": {
   "value": "<div class=\"stl_01\" style=\"left:4.714em;top:10.2244em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1859em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9634em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:11.8919em;\"><span class=\"stl_269 stl_12 stl_68\" style=\"word-spacing:-0.0296em;\">Tax recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:12.8963em;\"><span class=\"stl_277 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">Current tax on profit for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8528em;top:12.8963em;\"><span class=\"stl_277 stl_15 stl_656\">11,211 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6096em;top:12.8963em;\"><span class=\"stl_277 stl_15 stl_327\">11,493 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:13.895em;\"><span class=\"stl_277 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">Adjustments to current tax for previous years \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0171em;top:13.895em;\"><span class=\"stl_277 stl_15 stl_633\">(3,119) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7459em;top:13.895em;\"><span class=\"stl_277 stl_15 stl_453\">(9,929) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:14.9113em;\"><span class=\"stl_269 stl_12 stl_51\" style=\"word-spacing:-0.032em;\">Current tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9846em;top:14.9113em;\"><span class=\"stl_269 stl_12 stl_416\">8,092 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7584em;top:14.9113em;\"><span class=\"stl_269 stl_12 stl_445\">1,564 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:16.495em;\"><span class=\"stl_277 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">Change in deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6228em;top:16.495em;\"><span class=\"stl_277 stl_15 stl_700\">(24,712) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9471em;top:16.495em;\"><span class=\"stl_277 stl_15 stl_701\">6,190 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:17.5113em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0329em;\">Deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4396em;top:17.5113em;\"><span class=\"stl_269 stl_12 stl_134\">(24,712) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8203em;top:17.5113em;\"><span class=\"stl_269 stl_12 stl_398\">6,190 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:19.0894em;\"><span class=\"stl_269 stl_12 stl_54\" style=\"word-spacing:-0.0299em;\">Tax for the year recognized in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4527em;top:19.0894em;\"><span class=\"stl_269 stl_12 stl_375\">(16,620) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.824em;top:19.0894em;\"><span class=\"stl_269 stl_12 stl_423\">7,754 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:20.6675em;\"><span class=\"stl_269 stl_12 stl_55\" style=\"word-spacing:-0.0316em;\">Tax on income for the year is explained as follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:21.6719em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">Income before company tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4665em;top:21.6719em;\"><span class=\"stl_277 stl_15 stl_130\">971,357 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7452em;top:21.6719em;\"><span class=\"stl_277 stl_15 stl_267\">1,482,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:22.6707em;\"><span class=\"stl_277 stl_15 stl_44\" style=\"word-spacing:-0.0259em;\">Calculated tax (22.0%) on income before company tax \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4759em;top:22.6707em;\"><span class=\"stl_277 stl_15 stl_135\">213,699 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.254em;top:22.6707em;\"><span class=\"stl_277 stl_15 stl_135\">326,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:24.2432em;\"><span class=\"stl_269 stl_12 stl_67\" style=\"word-spacing:-0.0284em;\">Tax effect on: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:25.2475em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Different tax percentage in foreign subsidiaries \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5827em;top:25.2475em;\"><span class=\"stl_277 stl_15 stl_150\">(31,236) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6759em;top:25.2475em;\"><span class=\"stl_277 stl_15 stl_228\">(3,308) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:26.2463em;\"><span class=\"stl_277 stl_15 stl_67\" 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:30.9615em;top:26.2463em;\"><span class=\"stl_277 stl_15 stl_702\">(3,197) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.1952em;top:26.2463em;\"><span class=\"stl_277 stl_15 stl_311\">(747) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:27.245em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Income ()/expenses that are not taxable/deductible for tax purposes \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5959em;top:27.245em;\"><span class=\"stl_277 stl_15 stl_122\">(13,657) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5615em;top:27.245em;\"><span class=\"stl_277 stl_15 stl_267\">16,273 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:28.2438em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Deduction for interest and currency adjustments related to debt forgiveness \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3734em;top:28.2438em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.3565em;top:28.2438em;\"><span class=\"stl_277 stl_15 stl_382\">(60,009) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:29.2425em;\"><span class=\"stl_277 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">Special tax credit \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6321em;top:29.2425em;\"><span class=\"stl_277 stl_15 stl_99\">(12,321) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3652em;top:29.2425em;\"><span class=\"stl_277 stl_15 stl_126\">(32,788) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:30.2413em;\"><span class=\"stl_277 stl_15 stl_85\" style=\"word-spacing:-0.0317em;\">Change in unrealized intra-group profits \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7446em;top:30.2413em;\"><span class=\"stl_277 stl_15 stl_325\">40,866 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4184em;top:30.2413em;\"><span class=\"stl_277 stl_15 stl_703\">(11,025) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:31.24em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Change in non-recognized tax asset \u00a0</span></div><div class=\"stl_01\" style=\"left:30.2971em;top:31.24em;\"><span class=\"stl_277 stl_15 stl_233\">(207,655) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0415em;top:31.24em;\"><span class=\"stl_277 stl_15 stl_126\">(216,960) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:32.2388em;\"><span class=\"stl_277 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">Adjustments to current tax for previous years \u00a0</span></div><div class=\"stl_01\" style=\"left:31.0171em;top:32.2388em;\"><span class=\"stl_277 stl_15 stl_633\">(3,119) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7459em;top:32.2388em;\"><span class=\"stl_277 stl_15 stl_453\">(9,929) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:33.2319em;\"><span class=\"stl_269 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Tax on income for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4534em;top:33.2319em;\"><span class=\"stl_269 stl_12 stl_375\">(16,620) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8246em;top:33.2319em;\"><span class=\"stl_269 stl_12 stl_568\">7,754 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:34.81em;\"><span class=\"stl_269 stl_12 stl_193\" style=\"word-spacing:-0.0304em;\">Tax recognized in other comprehensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:35.8144em;\"><span class=\"stl_277 stl_15 stl_29\" style=\"word-spacing:-0.0301em;\">Remeasurements of defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1846em;top:35.8144em;\"><span class=\"stl_277 stl_15 stl_646\">4,171 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8734em;top:35.8144em;\"><span class=\"stl_277 stl_15 stl_427\">4,505 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:37.3869em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:-0.0307em;\">Tax recognized in equity \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:38.3913em;\"><span class=\"stl_277 stl_15 stl_56\" style=\"word-spacing:-0.0245em;\">Tax on share based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.374em;top:38.3913em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.1534em;top:38.3913em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.1638em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">Tax on income is an income of DKK 16.6 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.9969em;\"><span class=\"stl_353 stl_15 stl_64\" style=\"word-spacing:-0.0223em;\">(expense of DKK 7.8 million), corresponding to an \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.83em;\"><span class=\"stl_353 stl_15 stl_179\" style=\"word-spacing:-0.0246em;\">effective negative tax rate of 1.7% (positive 0.5%). The \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.6632em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0248em;\">parent company\u2019s taxable income for 2024 is DKK 0.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.4963em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">million after use of tax losses carried forward (DKK 0.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.3294em;\"><span class=\"stl_353 stl_15 stl_56\" style=\"word-spacing:-0.0245em;\">million). Current tax expensed in 2024 relates mainly \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.1625em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">to Bavarian Nordic GmbH, while change in deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.9957em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0256em;\">recognized as income in 2024 relates solely to Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.8288em;\"><span class=\"stl_353 stl_15 stl_391\" style=\"word-spacing:-0.0368em;\">Nordic Berna GmbH. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.4957em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">'Income()/expenses that are not taxable/deductible \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.3288em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">for tax purposes' is primarily related Bavarian Nordic \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.1619em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">Inc. use of previously not recognized tax loss carried \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.995em;\"><span class=\"stl_353 stl_15 stl_422\">forward. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.6619em;\"><span class=\"stl_353 stl_15 stl_66\" 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:23.495em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0327em;\">up deduction on research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.3282em;\"><span class=\"stl_353 stl_15 stl_288\" 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:25.1613em;\"><span class=\"stl_353 stl_15 stl_490\">Act. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.8282em;\"><span class=\"stl_353 stl_15 stl_180\" style=\"word-spacing:-0.0238em;\">'Current tax on profit for previous years' relates \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.6613em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">primarily to refunded state taxes in Bavarian Nordic Inc. \u00a0</span></div><div class=\"stl_01\" style=\"left:23.383em;top:10.4578em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3811em;top:11.6572em;\"><span class=\"stl_269 stl_12 stl_390\">Exchange \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9561em;top:12.4072em;\"><span class=\"stl_269 stl_12 stl_46\">rate \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0986em;top:13.1572em;\"><span class=\"stl_269 stl_12 stl_285\">adjust- \u00a0</span></div><div class=\"stl_01\" style=\"left:20.3099em;top:13.9072em;\"><span class=\"stl_269 stl_12 stl_16\">Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4105em;top:13.9072em;\"><span class=\"stl_269 stl_12 stl_95\" style=\"word-spacing:-0.038em;\">ments on \u00a0</span></div><div class=\"stl_01\" style=\"left:15.9874em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_390\">Adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.9292em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_490\" style=\"word-spacing:-0.0427em;\">in the \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9324em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_223\">translating \u00a0</span></div><div class=\"stl_01\" style=\"left:12.1836em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0366em;\">January 1, \u00a0</span></div><div class=\"stl_01\" style=\"left:16.1092em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0305em;\">to previous \u00a0</span></div><div class=\"stl_01\" style=\"left:21.503em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_21\">income \u00a0</span></div><div class=\"stl_01\" style=\"left:24.5617em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_16\">Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:30.0167em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_41\">foreign \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4592em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_195\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:16.1628em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:13.7061em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.093em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_42\">year \u00a0</span></div><div class=\"stl_01\" style=\"left:20.6274em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:25.2786em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_260\" style=\"word-spacing:-0.0453em;\">in equity \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9955em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_392\">operations \u00a0</span></div><div class=\"stl_01\" style=\"left:33.9355em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_581\" style=\"word-spacing:0.0212em;\">31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7155em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_493\" style=\"word-spacing:-0.0385em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:12.6836em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_306\">(50,074) \u00a0</span></div><div class=\"stl_01\" style=\"left:17.7911em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_416\">(977) \u00a0</span></div><div class=\"stl_01\" style=\"left:20.8242em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_107\">(126,909) \u00a0</span></div><div class=\"stl_01\" style=\"left:27.178em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.4299em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.3836em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_587\">(177,960) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7155em;top:18.8691em;\"><span class=\"stl_277 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">Acquired rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7155em;top:19.7022em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">development in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7155em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_243\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:12.4399em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_704\">(111,104) \u00a0</span></div><div class=\"stl_01\" style=\"left:17.3467em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_116\">(9,686) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.1111em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_175\">(56,605) \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1774em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.4292em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.3792em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_449\">(177,395) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7149em;top:21.5572em;\"><span class=\"stl_277 stl_15 stl_25\" style=\"word-spacing:-0.0313em;\">Property, plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7149em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_392\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:12.8124em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_214\">52,065 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.8705em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_631\">(761) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.1549em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_162\">(16,354) \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1774em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.6467em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_427\">472 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8492em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_27\">35,422 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7149em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_63\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:13.6574em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_123\">183 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7911em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:22.1567em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_38\">271 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1767em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.4286em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.6642em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_389\">454 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:24.4341em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">Development projects \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">for sale \u00a0</span></div><div class=\"stl_01\" style=\"left:12.8199em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_350\">25,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7905em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:21.4861em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_408\">(6,501) \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1761em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.428em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.8892em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_671\">19,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7136em;top:26.2891em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Unrealized intra-group \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7136em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_68\">profits \u00a0</span></div><div class=\"stl_01\" style=\"left:12.9986em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_672\">(9,598) \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7905em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:21.1149em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_203\">(40,866) \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1767em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.673em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_244\">913 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7361em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_09\">(49,551) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7149em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_66\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:13.6692em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_598\">218 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7911em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:22.133em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_243\">225 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1767em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.4286em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.6586em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_52\">443 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_243\">Provisions \u00a0</span></div><div class=\"stl_01\" style=\"left:13.2236em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_631\">1,100 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.0574em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_417\">110 \u00a0</span></div><div class=\"stl_01\" style=\"left:22.1492em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_202\">330 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1761em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.428em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.1711em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_562\">1,540 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7136em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:12.9311em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_705\">11,173 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7899em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:21.3324em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_267\">10,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.9861em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_646\">4,171 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4261em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_475\">(287) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8317em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_402\">25,900 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">Financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:12.6467em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_111\">(10,095) \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7911em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:22.2899em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_362\">(89) \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5767em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_350\">16,609 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4286em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.1692em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_214\">6,425 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:12.8355em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_346\">35,790 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7905em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:21.6955em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_367\">9,393 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1761em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.428em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.9224em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_411\">45,183 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:33.2535em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7142em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_289\">forward \u00a0</span></div><div class=\"stl_01\" style=\"left:12.5161em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_38\">445,010 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.1736em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_344\">(15) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.3611em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_688\">43,319 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1761em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.4949em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_404\">(913) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5461em;top:34.0866em;z-index:997;\"><span class=\"stl_277 stl_15 stl_62\">48</span><span class=\"stl_277 stl_15 stl_426\">7</span><span class=\"stl_277 stl_15 stl_207\">,401 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7136em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_268\" style=\"word-spacing:-0.0273em;\">Not recognized tax asset \u00a0</span></div><div class=\"stl_01\" style=\"left:12.3636em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_647\">(419,680) \u00a0</span></div><div class=\"stl_01\" style=\"left:17.2405em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_672\">11,329 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.0567em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_244\">207,655 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.3961em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_122\">(16,609) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4274em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.3724em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_224\">(217,305) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.713em;top:36.1247em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0301em;\">Recognized deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:4.713em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_422\" style=\"word-spacing:-0.0355em;\">tax assets/liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:12.4692em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_393\">(29,068) \u00a0</span></div><div class=\"stl_01\" style=\"left:18.7817em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:21.2067em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_357\">24,712 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.8574em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_591\">4,171 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5955em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_158\">185 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4349em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:57.9393em;top:10.4578em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1781em;top:11.6572em;\"><span class=\"stl_269 stl_12 stl_390\">Exchange \u00a0</span></div><div class=\"stl_01\" style=\"left:66.7531em;top:12.4072em;\"><span class=\"stl_269 stl_12 stl_46\">rate \u00a0</span></div><div class=\"stl_01\" style=\"left:65.8956em;top:13.1572em;\"><span class=\"stl_269 stl_12 stl_285\">adjust- \u00a0</span></div><div class=\"stl_01\" style=\"left:53.81em;top:13.9072em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:0.4619em;\">Additions Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2075em;top:13.9072em;\"><span class=\"stl_269 stl_12 stl_95\" style=\"word-spacing:-0.038em;\">ments on \u00a0</span></div><div class=\"stl_01\" style=\"left:49.1862em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_195\" style=\"word-spacing:0.7418em;\">Adjustment from</span></div><div class=\"stl_01\" style=\"left:54.747em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_194\">Acqui- \u00a0</span></div><div class=\"stl_01\" style=\"left:58.6712em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_490\" style=\"word-spacing:-0.0427em;\">in the \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7293em;top:14.6572em;\"><span class=\"stl_269 stl_12 stl_223\">translating \u00a0</span></div><div class=\"stl_01\" style=\"left:45.7368em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0366em;\">January 1,</span></div><div class=\"stl_01\" style=\"left:49.303em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0305em;\">to previous \u00a0</span></div><div class=\"stl_01\" style=\"left:54.2em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_51\" style=\"word-spacing:-0.032em;\">sition of \u00a0</span></div><div class=\"stl_01\" style=\"left:58.245em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_55\" style=\"word-spacing:0.4654em;\">income Recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:65.8137em;top:15.4072em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:0.7159em;\">foreign December \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:16.1628em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2568em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2918em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:0.6112em;\">year businessess</span></div><div class=\"stl_01\" style=\"left:57.364em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:61.5481em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_260\" style=\"word-spacing:-0.0453em;\">in equity</span></div><div class=\"stl_01\" style=\"left:64.786em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_392\">operations \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0218em;top:16.1572em;\"><span class=\"stl_269 stl_12 stl_572\" style=\"word-spacing:0.0196em;\">31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_493\" style=\"word-spacing:-0.0375em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8337em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_537\">62,881 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.345em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5968em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.075em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_696\">(112,955) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9193em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.6987em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.5037em;top:17.8472em;\"><span class=\"stl_277 stl_15 stl_306\">(50,074) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7406em;top:18.8691em;\"><span class=\"stl_277 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">Acquired rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7406em;top:19.7022em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">development in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7406em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_243\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:46.9831em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_156\">(2,659) \u00a0</span></div><div class=\"stl_01\" style=\"left:52.345em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5968em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.0125em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_442\">(108,445) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.92em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.6993em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.2606em;top:20.5354em;\"><span class=\"stl_277 stl_15 stl_704\">(111,104) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:21.5572em;\"><span class=\"stl_277 stl_15 stl_25\" style=\"word-spacing:-0.0313em;\">Property, plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_392\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:46.9137em;top:22.3903em;z-index:1642;\"><span class=\"stl_277 stl_15 stl_243\">88</span><span class=\"stl_277 stl_15 stl_648\">,</span><span class=\"stl_277 stl_15 stl_486\">124 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5587em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_45\">643 \u00a0</span></div><div class=\"stl_01\" style=\"left:54.7843em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_484\">(33,546) \u00a0</span></div><div class=\"stl_01\" style=\"left:58.695em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_123\">(1,223) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.92em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:66.2968em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_697\">(1,933) \u00a0</span></div><div class=\"stl_01\" style=\"left:69.6343em;top:22.3903em;\"><span class=\"stl_277 stl_15 stl_214\">52,065 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_63\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6693em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_562\">287 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3456em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5975em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:59.1837em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_364\">(104) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.92em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.6993em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:70.4793em;top:23.4122em;\"><span class=\"stl_277 stl_15 stl_123\">183 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:24.4341em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">Development projects \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">for sale \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8306em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_699\">32,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3449em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5968em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.6968em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_152\">(6,502) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.92em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.6993em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.6418em;top:25.2672em;\"><span class=\"stl_277 stl_15 stl_350\">25,944 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:26.2891em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Unrealized intra-group \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_68\">profits \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6631em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_112\">(21,265) \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3449em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5968em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.5962em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_689\">11,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.92em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:66.9106em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_46\">642 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.8212em;top:27.1222em;\"><span class=\"stl_277 stl_15 stl_672\">(9,598) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_66\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6931em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_335\">191 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3456em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5975em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:59.6987em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_161\">27 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9206em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.7em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:70.4912em;top:28.1441em;\"><span class=\"stl_277 stl_15 stl_598\">218 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7418em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_243\">Provisions \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4481em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.3456em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5975em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.9443em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_631\">1,100 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9206em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.7em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:70.0468em;top:29.166em;\"><span class=\"stl_277 stl_15 stl_631\">1,100 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7418em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4481em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.3456em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:55.3918em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_666\">7,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7068em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_415\">(1,428) \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6393em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_427\">4,505 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.9043em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_51\">364 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.7543em;top:30.1878em;\"><span class=\"stl_277 stl_15 stl_705\">11,173 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7418em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">Financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:47.0368em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_436\">(7,017) \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3456em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5975em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:60.1406em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:62.4731em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_119\">(3,078) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6993em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.4687em;top:31.2097em;\"><span class=\"stl_277 stl_15 stl_111\">(10,095) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8893em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_400\">27,405 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3449em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:56.5968em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.8543em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_212\">8,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9193em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.6987em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.6575em;top:32.2316em;\"><span class=\"stl_277 stl_15 stl_346\">35,790 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7406em;top:33.2535em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7406em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_289\">forward \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5243em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_202\">470,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6437em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_706\">(11,703) \u00a0</span></div><div class=\"stl_01\" style=\"left:56.5962em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.3937em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_367\">(13,030) \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9193em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:66.735em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_159\">(642) \u00a0</span></div><div class=\"stl_01\" style=\"left:69.3381em;top:34.0866em;\"><span class=\"stl_277 stl_15 stl_137\">445,010 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7412em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_268\" style=\"word-spacing:-0.0273em;\">Not recognized tax asset \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3412em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_114\">(650,778) \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7762em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_340\">11,060 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.5974em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:58.2274em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_157\">216,960 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6712em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_118\">3,078 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6999em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.1874em;top:35.1085em;\"><span class=\"stl_277 stl_15 stl_647\">(419,680) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7418em;top:36.1247em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0301em;\">Recognized deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7418em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_422\" style=\"word-spacing:-0.0355em;\">tax assets/liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4406em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.3381em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:54.6512em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_133\">(25,814) \u00a0</span></div><div class=\"stl_01\" style=\"left:58.6043em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_441\">(6,190) \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5174em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_317\">4,505 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.1218em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_152\">(1,569) \u00a0</span></div><div class=\"stl_01\" style=\"left:69.2931em;top:36.9578em;\"><span class=\"stl_269 stl_12 stl_393\">(29,068) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:10.2083em;\"><span class=\"stl_352 stl_12 stl_194\" style=\"word-spacing:-0.0329em;\">Deferred tax \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:11.0471em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">Deferred tax assets relate to temporary differences \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:11.8802em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0343em;\">between the tax base and accounting carrying amount \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:12.7133em;\"><span class=\"stl_353 stl_15 stl_391\" style=\"word-spacing:-0.0367em;\">and tax losses carried forward. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:14.3802em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">Deferred tax assets arising from temporary deductible \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:15.2133em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">differences and tax losses carried forward are recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:16.0465em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">nized to the extent they are expected to be offset \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:16.8796em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">against future taxable income. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:18.5465em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">Recognized tax losses carried forward relate to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:19.3796em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Bavarian Nordic A/S and the two Danish subsidiaries \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:20.2127em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">Aktieselskabet af 1. juni 2011 I and Aktieselskabet af 1. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:21.0458em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">juni 2011 II regulated within Danish tax jurisdiction and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:21.879em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.033em;\">Bavarian Nordic Berna GmbH regulated within the Swiss \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:22.7121em;\"><span class=\"stl_353 stl_15 stl_348\" style=\"word-spacing:-0.0391em;\">tax jurisdiction. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:24.379em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">The tax value of non-recognized tax losses carried \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:25.2121em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">forward in Bavarian Nordic A/S and the two Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:26.0452em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">subsidiaries amounts to DKK 482.9 million (DKK 445.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:26.8783em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.0271em;\">million), whereas the tax value of non-recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:27.7115em;\"><span class=\"stl_353 stl_15 stl_83\" style=\"word-spacing:-0.037em;\">temporary deductible differences amounts to DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:28.5446em;\"><span class=\"stl_353 stl_15 stl_178\" style=\"word-spacing:-0.0176em;\">-265.6 million (DKK -25.3 million). Tax rate used for \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:29.3777em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Danish entities is 22.0%. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:31.0446em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0347em;\">For Bavarian Nordic Berna GmbH, the tax value of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:31.8777em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0342em;\">non-recognized tax losses carried forward amounts to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:32.7108em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0299em;\">DKK 4.5 million (DKK 0 million), whereas the tax value \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:33.544em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">of non-recognized temporary deductible differences \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:10.2108em;\"><span class=\"stl_353 stl_15 stl_48\" style=\"word-spacing:-0.0261em;\">amounts to DKK -4.5 million (DKK 0 million). Tax rate \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:11.044em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.028em;\">used for Swiss entities is 22.8%. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:12.7108em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">For the Group in total, the tax value of non-recognized \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:13.544em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">tax losses carried forward amounts to DKK 487.4 million \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:14.3771em;\"><span class=\"stl_353 stl_15 stl_42\" style=\"word-spacing:-0.0234em;\">(DKK 445.0 million), whereas the tax value of non-rec- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:15.2102em;\"><span class=\"stl_353 stl_15 stl_164\" style=\"word-spacing:-0.0364em;\">ognized temporary deductible differences amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:16.0433em;\"><span class=\"stl_353 stl_15 stl_34\" style=\"word-spacing:-0.0204em;\">to DKK -270.1 million (DKK -25.3 million), bringing the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:16.8765em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.0271em;\">net non-recognized tax asset to DKK 217.3 million (DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:17.7096em;\"><span class=\"stl_353 stl_15 stl_535\" style=\"word-spacing:-0.0092em;\">419.7 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:19.3765em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Danish joint taxed company's right to use the tax losses \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:20.2096em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">carried forward is not time-limited. Use of tax losses \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:21.0427em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">carried forward for the Swiss entity, Bavarian Nordic \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:21.8758em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Berna GmbH, is limited to 7 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:23.5371em;\"><span class=\"stl_352 stl_12 stl_13\" style=\"word-spacing:-0.0393em;\">Pillar II \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:24.3758em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">Following the net result for 2024 the Bavarian Nordic \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:25.209em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">Group will become in scope of the Minimum Tax Act \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:26.0421em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0277em;\">(Pillar II) from 2025, as adopted by the Danish Parlia- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:26.8752em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">ment on December 7, 2023. No additional tax costs is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:27.7083em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">expected for the Bavarian Nordic Group, based on the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:28.5415em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">current group structure. It will result in a not insignifi- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:29.3746em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">cant compliance task for the Bavarian Nordic Group if \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7339em;top:30.2077em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">the group is unable to utilize the safe harbour rules. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8689": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_461\" style=\"word-spacing:0.0065em;\">Note 14 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_144\" style=\"word-spacing:0.0136em;\">Earnings per share (EPS) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.3077em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7395em;top:14.3021em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9889em;top:14.3021em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.969em;\"><span class=\"stl_277 stl_15 stl_65\" style=\"word-spacing:-0.0247em;\">Net result for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0352em;top:15.969em;\"><span class=\"stl_277 stl_15 stl_119\">987,977 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8533em;top:15.969em;\"><span class=\"stl_277 stl_15 stl_398\">1,475,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:16.9083em;\"><span class=\"stl_277 stl_15 stl_37\" style=\"word-spacing:-0.028em;\">Earnings per share of DKK 10 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.0108em;top:16.9083em;\"><span class=\"stl_277 stl_15 stl_158\">12.6 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.2858em;top:16.9083em;\"><span class=\"stl_277 stl_15 stl_356\">19.2 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8477em;\"><span class=\"stl_277 stl_15 stl_32\" style=\"word-spacing:-0.0269em;\">Diluted earnings per share of DKK 10 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.0114em;top:17.8477em;\"><span class=\"stl_277 stl_15 stl_158\">12.6 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.2864em;top:17.8477em;\"><span class=\"stl_277 stl_15 stl_356\">19.2 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:19.2371em;\"><span class=\"stl_277 stl_15 stl_193\" 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:38.7408em;top:20.0702em;\"><span class=\"stl_277 stl_15 stl_275\" 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:38.7408em;top:20.9033em;\"><span class=\"stl_277 stl_15 stl_66\" 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:38.7408em;top:22.2927em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Weighted average number of ordinary shares \u00a0</span></div><div class=\"stl_01\" style=\"left:63.2427em;top:22.2927em;\"><span class=\"stl_277 stl_15 stl_630\">78,340,169 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.4333em;top:22.2927em;\"><span class=\"stl_277 stl_15 stl_489\">76,860,003 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:23.2321em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">Weighted average number of treasury shares \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8352em;top:23.2321em;\"><span class=\"stl_277 stl_15 stl_143\">(236,410) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1414em;top:23.2321em;\"><span class=\"stl_277 stl_15 stl_99\">(149,442) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:24.1658em;\"><span class=\"stl_269 stl_12 stl_422\" style=\"word-spacing:-0.0353em;\">Weighted average number of outstanding ordinary shares used in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:24.999em;\"><span class=\"stl_269 stl_12 stl_195\" style=\"word-spacing:-0.0353em;\">the calculation of basic earnings per share \u00a0</span></div><div class=\"stl_01\" style=\"left:63.0364em;top:24.999em;\"><span class=\"stl_269 stl_12 stl_655\">78,103,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2514em;top:24.999em;\"><span class=\"stl_269 stl_12 stl_129\">76,710,561 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:25.944em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Average dilutive effect of outstanding warrants</span></div><div class=\"stl_01\" style=\"left:51.886em;top:25.944em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">under incentive schemes \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9283em;top:25.944em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:70.1802em;top:25.944em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:26.8777em;\"><span class=\"stl_269 stl_12 stl_422\" style=\"word-spacing:-0.0353em;\">Weighted average number of outstanding ordinary shares used in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:27.7108em;\"><span class=\"stl_269 stl_12 stl_422\" style=\"word-spacing:-0.0354em;\">the calculation of diluted earnings per share \u00a0</span></div><div class=\"stl_01\" style=\"left:63.0364em;top:27.7108em;\"><span class=\"stl_269 stl_12 stl_655\">78,103,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2514em;top:27.7108em;\"><span class=\"stl_269 stl_12 stl_129\">76,710,561 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:29.1058em;\"><span class=\"stl_277 stl_15 stl_24\" 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:38.7414em;top:29.939em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">diluted earnings per share in the future. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:31.3283em;\"><span class=\"stl_277 stl_15 stl_52\">2024-program \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5983em;top:31.3283em;\"><span class=\"stl_277 stl_15 stl_566\">1,156,783 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1795em;top:31.3283em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:32.2677em;\"><span class=\"stl_277 stl_15 stl_204\">2023-program \u00a0</span></div><div class=\"stl_01\" style=\"left:63.607em;top:32.2677em;\"><span class=\"stl_277 stl_15 stl_707\">1,143,379 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7483em;top:32.2677em;\"><span class=\"stl_277 stl_15 stl_389\">1,258,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:33.2071em;\"><span class=\"stl_277 stl_15 stl_279\">2022-program \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0058em;top:33.2071em;\"><span class=\"stl_277 stl_15 stl_205\">914,266 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2583em;top:33.2071em;\"><span class=\"stl_277 stl_15 stl_174\">992,310 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:34.1465em;\"><span class=\"stl_277 stl_15 stl_504\">2021-program \u00a0</span></div><div class=\"stl_01\" style=\"left:64.027em;top:34.1465em;\"><span class=\"stl_277 stl_15 stl_135\">610,463 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3276em;top:34.1465em;\"><span class=\"stl_277 stl_15 stl_579\">651,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:35.0858em;\"><span class=\"stl_277 stl_15 stl_61\">2020-program \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0789em;top:35.0858em;\"><span class=\"stl_277 stl_15 stl_697\">811,014 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8695em;top:35.0858em;\"><span class=\"stl_277 stl_15 stl_708\">1,105,219 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:36.0252em;\"><span class=\"stl_277 stl_15 stl_191\">2019-program \u00a0</span></div><div class=\"stl_01\" style=\"left:65.9276em;top:36.0252em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.2958em;top:36.0252em;\"><span class=\"stl_277 stl_15 stl_408\">513,754 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:36.959em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0347em;\">Outstanding warrants, cf. note 29 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.2976em;top:36.959em;\"><span class=\"stl_269 stl_12 stl_298\">4,635,905 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5789em;top:36.959em;\"><span class=\"stl_269 stl_12 stl_328\">4,520,915 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:38.5108em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">The average exercise price for outstanding warrants (DKK 234) are below the average share price of the Company for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:39.344em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">the year (189), therefore no dilution impact on the earnings per share. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8696": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_228\" style=\"word-spacing:0.0025em;\">Note 15 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_328\" style=\"word-spacing:0.0079em;\">Intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:40.3324em;top:10.3531em;\"><span class=\"stl_683 stl_12 stl_180\" style=\"word-spacing:-0.0239em;\">Key accounting estimates \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.3943em;\"><span class=\"stl_352 stl_12 stl_223\" style=\"word-spacing:-0.0378em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.2331em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0356em;\">When determining the amortization period for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.0662em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">acquired product rights, Management need to make \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.8993em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">an assessment of expected useful economic life. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.7324em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">In the assessment Management take among other \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.5656em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">things the following components into consideration: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.3987em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0342em;\">The maturity of the products acquired, development \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.2318em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">in the market the acquired products are targeting, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.0649em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">the current competitors, clinical development of new \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.8981em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">competing products and entry barriers to the market \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.7312em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">due to advanced production technology. Straight-line \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.5643em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.0349em;\">amortization reflects the use and impairment of the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.3974em;\"><span class=\"stl_353 stl_15 stl_334\" style=\"word-spacing:-0.0385em;\">product rights. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.0643em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0323em;\">Management continuously updates the valuation model \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.8974em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">used when acquiring the product rights from GSK to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.7306em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">assess the value creation expected from the acquisi- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.5637em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">tion. The latest update of the valuation model shows \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.3968em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">a value above the net present value of the purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.2299em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">price, hence there is no indications of impairment. \u00a0</span></div><div class=\"stl_01\" style=\"left:57.3403em;top:10.3531em;\"><span class=\"stl_683 stl_12 stl_35\" style=\"word-spacing:-0.0273em;\">Key accounting judgments \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.3999em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Management has made the following accounting judg- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.2331em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0342em;\">ments which significantly affect the amounts recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:13.0662em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">nized in the consolidated financial statements: \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:14.7274em;\"><span class=\"stl_352 stl_12 stl_85\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:15.5662em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0247em;\">Under the Group\u2019s accounting policies and in accordance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.3993em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">with common industry practice, development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.2324em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">are generally expensed in the year they occur. This \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:18.0656em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">approach is taken due to the uncertainty surrounding \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:18.8987em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">the future benefits of these costs until commercial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:19.7318em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">approval is obtained. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.984em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9452em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_16\">Acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:47.0533em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_17\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5502em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_39\" style=\"word-spacing:-0.04em;\">rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1233em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_25\">Developed \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6715em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_550\">intangible \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5452em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_165\" style=\"word-spacing:1.0869em;\">Product development \u00a0</span></div><div class=\"stl_01\" style=\"left:36.0665em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_390\">Production \u00a0</span></div><div class=\"stl_01\" style=\"left:46.1383em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_21\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0771em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_377\">rights \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2871em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_66\" style=\"word-spacing:-0.029em;\">in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0552em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_46\">Process \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3202em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_223\">Software \u00a0</span></div><div class=\"stl_01\" style=\"left:46.1771em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_35\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9777em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7233em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_279\" style=\"word-spacing:-0.0202em;\">Costs as of January 1, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1033em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_503\">5,908,277 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.884em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_126\">2,690,013 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9965em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.8402em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_518\">114,958 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6133em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_709\">417,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8933em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_576\">9,130,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7233em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6308em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_381\">186,433 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2721em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9965em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.9433em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_57\">233 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8658em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_113\">21,259 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3027em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_444\">207,925 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5483em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.1052em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_158\">374,857 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2008em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_670\">17,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3427em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_149\">(392,759) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1702em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.724em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Transfer to/from property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5483em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9971em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.2396em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_232\">(2,265) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4571em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_202\">(884) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.789em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_668\">(3,149) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.6727em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_133\">(1,403,264) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9977em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.7221em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.6471em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_424\">(26,224) \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5908em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_121\">(1,429,488) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.8333em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_107\">33 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9977em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.264em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_186\">66 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.8096em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_575\">(24) \u00a0</span></div><div class=\"stl_01\" style=\"left:52.7296em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_38\">75 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7239em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_219\" style=\"word-spacing:-0.0154em;\">Cost as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9296em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_460\">6,094,710 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6571em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_312\">1,286,782 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9371em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_106\">374,857 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6396em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_321\">130,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7252em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_346\">18,694 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6077em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_201\">7,905,937 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0295em;\">Amortization and impairment losses as of January 1, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.2446em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_588\">1,116,835 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8577em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_460\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9983em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.8408em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_414\">102,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8508em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_27\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7046em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_286\">2,648,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_377\">Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6946em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_687\">317,449 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.274em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.4096em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_621\">31,238 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.5202em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_406\">8,120 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4471em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2327em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_295\">356,807 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5496em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.274em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9983em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.3021em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_435\">(1,231) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4471em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.7508em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_435\">(1,231) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5496em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.6733em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_133\">(1,403,264) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9983em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.7227em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.6477em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_424\">(26,224) \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5915em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_121\">(1,429,488) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5496em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.274em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9983em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.9958em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_710\">119 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4477em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.4452em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_710\">119 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_190\" style=\"word-spacing:-0.0299em;\">Amortization and impairment losses as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8958em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_445\">1,434,284 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2671em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.2758em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_621\">31,238 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6596em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_124\">109,523 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4408em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:50.5546em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_27\">1,575,045 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_35\" style=\"word-spacing:-0.0272em;\">Carrying amount as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8933em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_213\">4,660,426 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.659em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_312\">1,286,782 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9358em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_131\">343,619 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0121em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_147\">21,371 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7271em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_346\">18,694 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5346em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_456\">6,330,892 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:31.47em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0328em;\">Geographical split of intangible assets \u2013 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:32.4975em;\"><span class=\"stl_277 stl_15 stl_334\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7665em;top:32.4975em;\"><span class=\"stl_277 stl_15 stl_267\">6,325,789 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:33.5194em;\"><span class=\"stl_277 stl_15 stl_92\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3815em;top:33.5194em;\"><span class=\"stl_277 stl_15 stl_243\">685 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:34.5413em;\"><span class=\"stl_277 stl_15 stl_190\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9071em;top:34.5413em;\"><span class=\"stl_277 stl_15 stl_489\">1,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:35.5632em;\"><span class=\"stl_277 stl_15 stl_181\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8808em;top:35.5632em;\"><span class=\"stl_277 stl_15 stl_315\">2,580 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:36.5794em;\"><span class=\"stl_269 stl_12 stl_285\" style=\"word-spacing:-0.0327em;\">Total intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5346em;top:36.5794em;\"><span class=\"stl_269 stl_12 stl_456\">6,330,892 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:10.2094em;\"><span class=\"stl_352 stl_12 stl_223\" style=\"word-spacing:-0.0378em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:11.0482em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">December 31, 2019 the Company acquired the product \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:11.8813em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">rights to two commercial products owned by GSK - \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:12.7144em;\"><span class=\"stl_353 stl_15 stl_31\" style=\"word-spacing:-0.0209em;\">Rabipur/RabAvert and Encepur. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:14.3813em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">The products have been on the market for more than \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:15.2144em;\"><span class=\"stl_353 stl_15 stl_55\" 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:55.7502em;top:16.0475em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">ucts. Management assesses that it will require up to 10 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:16.8807em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">years of clinical development for competitors to bring \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:17.7138em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.028em;\">a new competing product to the market likewise the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:18.5469em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0329em;\">production process required to produce these products \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:19.38em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0349em;\">is highly complex. Based on these factors Management \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:20.2132em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">assesses that the acquired product rights should be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:21.0463em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">amortized over 20 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:22.7132em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">In June 2024, based on higher-than-expected sales \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:23.5463em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">of Rabipur and Encepur during the second quarter of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:24.3794em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">2024, Management assessed it likely that Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:25.2125em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">Nordic would reach the trigger for the sales milestone \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:26.0457em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">included in the Asset Purchase Agreement concluded \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:26.8788em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">in 2019 and this was finally confirmed by end of July \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:27.7119em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">2024. The sales milestone of DKK 186 million has been \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:28.545em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">recognized as an addition to the product rights and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:29.3782em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0293em;\">deferred consideration. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:31.045em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">In May 2023, the Company concluded a Purchase and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:31.8782em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Sale Agreement with Emergent BioSolutions. The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:32.7113em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">agreement included acquisition of product rights to two \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:33.5444em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0277em;\">commercial travel vaccines - Vivotif and Vaxchora. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:34.3775em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0285em;\">Vivotif and Vaxchora were first licensed in the US in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:35.2107em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0249em;\">1989 and 2016 respectively. Vaccines have historically \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:36.0438em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">shown to have a long lifespan due to stringent regu- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:36.8769em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">latory requirements, high research and development \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:37.71em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">costs and a complex manufacturing process. Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2189em;\"><span class=\"stl_353 stl_15 stl_61\" 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:11.052em;\"><span class=\"stl_353 stl_15 stl_193\" 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:11.8852em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0293em;\">entering the market and taking significant market \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.7183em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">shares. Based on these factors Management assesses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5514em;\"><span class=\"stl_353 stl_15 stl_289\" 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:14.3845em;\"><span class=\"stl_353 stl_15 stl_29\" style=\"word-spacing:-0.02em;\">over 20 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0514em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Vivotif was developed more than 30 years ago and the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8845em;\"><span class=\"stl_353 stl_15 stl_44\" style=\"word-spacing:-0.0258em;\">market is larger than for Vaxchora. Therefore, the risk of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.7177em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">competition is also deemed higher, hence the amorti- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5508em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0291em;\">zation period is assessed to be 10 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.2177em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">The acquisition price for the two product rights consists \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0508em;\"><span class=\"stl_353 stl_15 stl_54\" 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:4.7244em;top:21.8839em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">DKK 137 million for Vaxchora. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5508em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">The Purchase and Sale Agreement also includes \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3839em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">an earnout payment starting at USD 30 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.217em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">The earnout payment relates to sale of Vivotif and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.0502em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">Vaxchora. As per December 31, 2023 Management does \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8833em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">not judge the sales milestone to be probable and there- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.7164em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">fore the earnout payment has not been recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.5495em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">either part of the project rights nor the deferred consid- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.3827em;\"><span class=\"stl_353 stl_15 stl_194\">eration. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.0439em;\"><span class=\"stl_352 stl_12 stl_85\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8827em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.7158em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">Emergent BioSolutions included acquisition of a late- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5489em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">stage vaccine candidate for Chikungunya virus. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.382em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">initial acquisition price amounted to DKK 788 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.2152em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">No further cost will be capitalized. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.2152em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">The agreement with Emergent BioSolutions also \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0483em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">included milestone payments totaling USD 80 million \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8814em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">related to submission and approval of Biologics License \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.7145em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Application (BLA) to FDA and Marketing Authorization \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5477em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">Application to EMA for the chikungunya development \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3808em;\"><span class=\"stl_353 stl_15 stl_275\">asset. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.0477em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">At initial recognition the net present value of probable \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8808em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">future development milestone payments to Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.7139em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">BioSolutions Inc. amounted to DKK 499 million and was \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.547em;\"><span class=\"stl_353 stl_15 stl_64\" style=\"word-spacing:-0.0221em;\">recognized as deferred consideration (note 24). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.2083em;\"><span class=\"stl_352 stl_12 stl_30\" style=\"word-spacing:-0.0324em;\">Developed production processes \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.047em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Developed production processes consist of the the as-is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8802em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">technology transfer from GSK to Bavarian Nordic of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.7133em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0283em;\">the manufacturing process for Rabipur/RabAvert and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.5464em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">Encepur. The Company has incurred material costs in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.3795em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">terms of internal labour and consultancy to handle the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.2127em;\"><span class=\"stl_353 stl_15 stl_473\" style=\"word-spacing:-0.0359em;\">technology transfer and has gained crucial knowledge \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.0458em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">about the manufacturing process. These costs are capi- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.8789em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">talized as an intangible asset. As per December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.712em;\"><span class=\"stl_353 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">the capitalized costs amounts to DKK 344 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.3733em;\"><span class=\"stl_352 stl_12 stl_21\" style=\"word-spacing:-0.0339em;\">Intangible assets in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.212em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0263em;\">Other intable assets in progress relates to IT invest- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.0452em;\"><span class=\"stl_353 stl_15 stl_195\">ments. \u00a0</span></div><div class=\"stl_01\" style=\"left:59.5351em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.4689em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_490\" style=\"word-spacing:-0.0425em;\">Carrying amount \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2651em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_83\">Remaining \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:12.2289em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5983em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_283\" style=\"word-spacing:-0.0322em;\">Acquistion price \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7958em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_577\" style=\"word-spacing:-0.0118em;\">December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6133em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_377\" style=\"word-spacing:-0.0396em;\">amortization period \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:13.9133em;\"><span class=\"stl_277 stl_15 stl_279\">Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:53.672em;top:13.9133em;\"><span class=\"stl_277 stl_15 stl_306\">3,252,110 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.667em;top:13.9133em;\"><span class=\"stl_277 stl_15 stl_57\">2,463,437 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1445em;top:13.9133em;\"><span class=\"stl_277 stl_15 stl_351\" style=\"word-spacing:-0.0048em;\">15 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_66\">Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:53.5989em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_442\">2,393,023 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7314em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_650\">1,811,007 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1451em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_351\" style=\"word-spacing:-0.0048em;\">15 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_181\">Vivotif \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0883em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_361\">312,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.2195em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_620\">259,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9576em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_29\" style=\"word-spacing:-0.02em;\">8.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_275\">Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:54.1514em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_702\">137,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1626em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_301\">126,223 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6439em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_402\" style=\"word-spacing:-0.01em;\">18.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:-0.0331em;\">Total product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:53.3876em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_460\">6,094,710 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.4358em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_213\">4,660,426 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.5351em;top:20.8252em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.4701em;top:22.0245em;\"><span class=\"stl_269 stl_12 stl_490\" style=\"word-spacing:-0.0425em;\">Carrying amount \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2664em;top:22.0245em;\"><span class=\"stl_269 stl_12 stl_83\">Remaining \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:22.7802em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5995em;top:22.7745em;\"><span class=\"stl_269 stl_12 stl_283\" style=\"word-spacing:-0.0322em;\">Acquistion price \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7945em;top:22.7745em;\"><span class=\"stl_269 stl_12 stl_329\" style=\"word-spacing:-0.0125em;\">December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6145em;top:22.7745em;\"><span class=\"stl_269 stl_12 stl_377\" style=\"word-spacing:-0.0396em;\">amortization period \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:24.4645em;\"><span class=\"stl_277 stl_15 stl_279\">Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:53.6458em;top:24.4645em;\"><span class=\"stl_277 stl_15 stl_300\">3,140,250 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.672em;top:24.4645em;\"><span class=\"stl_277 stl_15 stl_296\">2,512,200 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1439em;top:24.4645em;\"><span class=\"stl_277 stl_15 stl_545\" style=\"word-spacing:-0.0052em;\">16 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:25.4864em;\"><span class=\"stl_277 stl_15 stl_66\">Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:53.5976em;top:25.4864em;\"><span class=\"stl_277 stl_15 stl_267\">2,318,450 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.6964em;top:25.4864em;\"><span class=\"stl_277 stl_15 stl_324\">1,854,760 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1439em;top:25.4864em;\"><span class=\"stl_277 stl_15 stl_545\" style=\"word-spacing:-0.0052em;\">16 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:26.5083em;\"><span class=\"stl_277 stl_15 stl_181\">Vivotif \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0876em;top:26.5083em;\"><span class=\"stl_277 stl_15 stl_361\">312,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1801em;top:26.5083em;\"><span class=\"stl_277 stl_15 stl_366\">291,357 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9901em;top:26.5083em;\"><span class=\"stl_277 stl_15 stl_418\" style=\"word-spacing:-0.003em;\">9.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:27.5302em;\"><span class=\"stl_277 stl_15 stl_275\">Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:54.152em;top:27.5302em;\"><span class=\"stl_277 stl_15 stl_702\">137,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.2576em;top:27.5302em;\"><span class=\"stl_277 stl_15 stl_670\">133,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6795em;top:27.5302em;\"><span class=\"stl_277 stl_15 stl_59\" style=\"word-spacing:0.006em;\">19.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:28.5464em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:-0.0331em;\">Total product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:53.3514em;top:28.5464em;\"><span class=\"stl_269 stl_12 stl_504\">5,908,277 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.4676em;top:28.5464em;\"><span class=\"stl_269 stl_12 stl_301\">4,791,442 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.5734em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8977em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_16\">Acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2815em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_17\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5027em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_39\" style=\"word-spacing:-0.04em;\">rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:40.8996em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_550\">intangible \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4977em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_165\" style=\"word-spacing:1.0869em;\">Product development \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3665em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_21\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0296em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_377\">rights \u00a0</span></div><div class=\"stl_01\" style=\"left:31.239em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_66\" style=\"word-spacing:-0.029em;\">in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:36.5484em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_223\">Software \u00a0</span></div><div class=\"stl_01\" style=\"left:41.4052em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_35\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2059em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_61\" style=\"word-spacing:-0.024em;\">Costs as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0846em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_460\">5,458,700 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8302em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_525\">1,013,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0177em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_418\">106,094 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7765em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_125\">274,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.9877em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_101\">6,852,768 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4996em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:32.3452em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_415\">389,751 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.6921em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_366\">3,034 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7834em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_116\">143,978 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4721em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_169\">536,758 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4996em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.224em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.6796em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_301\">2,353 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2127em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_115\">(2,353) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.3971em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:27.579em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_229\">449,577 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8021em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_301\">1,286,778 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.6784em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_420\">4,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4396em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_364\">1,212 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.0696em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_407\">1,741,779 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7215em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4984em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2227em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.4796em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_163\">(1,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6715em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.9284em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_163\">(1,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7209em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4977em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2221em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.1734em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_361\">497 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.3865em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_711\">(1) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6146em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_207\">496 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7202em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_52\" style=\"word-spacing:-0.016em;\">Cost as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8421em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_209\">5,908,277 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6121em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_266\">2,690,013 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9009em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_662\">114,958 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6671em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_712\">417,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8946em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_670\">9,130,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7208em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.0311em;\">Amortization and impairment losses as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5702em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_175\">818,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2227em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.3784em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_340\">91,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6715em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.5727em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_713\">910,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7215em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_377\">Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5652em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_432\">298,030 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2234em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.3752em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_125\">12,028 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6727em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.4971em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_122\">310,058 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4996em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.8077em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_460\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9484em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.0765em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.9971em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_346\">1,429,488 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.499em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2234em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.639em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_714\">(1,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6721em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.0877em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_714\">(1,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.499em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2234em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.1627em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_52\">272 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6727em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.6121em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_52\">272 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_190\" style=\"word-spacing:-0.0301em;\">Amortization and impairment losses as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.969em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_715\">1,116,835 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5909em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_326\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8965em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_340\">102,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9227em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_220\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.7177em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_43\">2,648,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_73\" style=\"word-spacing:-0.0274em;\">Carrying amount as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8746em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_175\">4,791,442 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.639em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_122\">1,286,749 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.199em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_220\">12,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6734em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_404\">391,102 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.7602em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_616\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:31.47em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:-0.033em;\">Geographical split of intangible assets \u2013 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:32.4975em;\"><span class=\"stl_277 stl_15 stl_334\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:46.0684em;top:32.4975em;\"><span class=\"stl_277 stl_15 stl_306\">6,475,179 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:33.5194em;\"><span class=\"stl_277 stl_15 stl_92\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6321em;top:33.5194em;\"><span class=\"stl_277 stl_15 stl_107\">270 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:34.5413em;\"><span class=\"stl_277 stl_15 stl_190\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1171em;top:34.5413em;\"><span class=\"stl_277 stl_15 stl_427\">2,005 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:35.5632em;\"><span class=\"stl_277 stl_15 stl_32\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1252em;top:35.5632em;\"><span class=\"stl_277 stl_15 stl_562\">4,282 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:36.5794em;\"><span class=\"stl_269 stl_12 stl_285\" style=\"word-spacing:-0.0327em;\">Total intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:45.7602em;top:36.5794em;\"><span class=\"stl_269 stl_12 stl_616\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_547\" style=\"word-spacing:-0.0035em;\">Note 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_393\" 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_353 stl_15 stl_285\" style=\"word-spacing:-0.0325em;\">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_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">2023, where ABNCoV2 demonstrated a reduced level of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:11.8852em;\"><span class=\"stl_353 stl_15 stl_194\" 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_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">asset no longer represented a commercial opportunity \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:13.5514em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">for Bavarian Nordic as the regulators, EMA and FDA, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:10.2183em;\"><span class=\"stl_353 stl_15 stl_42\" style=\"word-spacing:-0.0235em;\">could not accept a submission for licensure. Therefore, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:11.0514em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Management decided to fully write-down all assets and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:11.8845em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">liabilities related to the development program as per \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7298em;top:12.7177em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0297em;\">December 31, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:28.702em;top:16.0517em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3314em;top:17.1573em;\"><span class=\"stl_269 stl_12 stl_96\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2526em;top:17.1573em;\"><span class=\"stl_269 stl_12 stl_96\">Income \u00a0</span></div><div class=\"stl_01\" style=\"left:23.4664em;top:17.9073em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3876em;top:17.9073em;\"><span class=\"stl_269 stl_12 stl_85\">statement \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7614em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_39\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8076em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_285\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5526em;top:18.6573em;\"><span class=\"stl_269 stl_12 stl_391\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7195em;top:19.4129em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:23.0633em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0239em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9839em;top:19.4073em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_140\">Revenue \u00a0</span></div><div class=\"stl_01\" style=\"left:23.837em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_366\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7583em;top:21.0973em;\"><span class=\"stl_277 stl_15 stl_366\">7,062,340 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_392\" style=\"word-spacing:-0.0362em;\">Production costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8464em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_113\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7676em;top:22.1192em;\"><span class=\"stl_277 stl_15 stl_113\">2,459,294 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_53\" style=\"word-spacing:-0.0253em;\">Gross Profit \u00a0</span></div><div class=\"stl_01\" style=\"left:23.5826em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_209\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1889em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.5039em;top:23.1354em;\"><span class=\"stl_269 stl_12 stl_209\">4,603,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">Sales and distribution costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.337em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_118\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.197em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2583em;top:24.1629em;\"><span class=\"stl_277 stl_15 stl_118\">331,579 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Research and development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7808em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_217\">2,228,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3083em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_152\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.767em;top:25.1848em;\"><span class=\"stl_277 stl_15 stl_130\">1,670,397 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Administrative costs \u00a0</span></div><div class=\"stl_01\" style=\"left:24.267em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_140\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1964em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.1883em;top:26.2067em;\"><span class=\"stl_277 stl_15 stl_140\">540,848 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_54\" style=\"word-spacing:-0.0297em;\">Total operating costs \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6526em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_149\">3,100,507 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.1445em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_138\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4951em;top:27.2229em;\"><span class=\"stl_269 stl_12 stl_212\">2,542,824 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7183em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_25\" style=\"word-spacing:-0.0312em;\">Income before interest and tax (EBIT) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6126em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_58\">1,502,539 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9389em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_737\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4914em;top:28.8486em;\"><span class=\"stl_269 stl_12 stl_388\">2,060,222 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_55\">EBITDA \u00a0</span></div><div class=\"stl_01\" style=\"left:23.607em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_470\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1895em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.5283em;top:29.8704em;\"><span class=\"stl_269 stl_12 stl_470\">2,614,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7189em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:-0.0307em;\">Net result for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6839em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_644\">1,475,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9389em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_737\">(557,683) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5139em;top:31.4961em;\"><span class=\"stl_269 stl_12 stl_478\">2,032,872 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.9017em;top:11.6401em;\"><span class=\"stl_269 stl_12 stl_391\">Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:67.823em;top:11.6401em;\"><span class=\"stl_269 stl_12 stl_391\">Financial \u00a0</span></div><div class=\"stl_01\" style=\"left:58.113em;top:12.3901em;\"><span class=\"stl_269 stl_12 stl_422\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0342em;top:12.3901em;\"><span class=\"stl_269 stl_12 stl_422\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7817em;top:13.1401em;\"><span class=\"stl_269 stl_12 stl_39\">including \u00a0</span></div><div class=\"stl_01\" style=\"left:62.828em;top:13.1401em;\"><span class=\"stl_269 stl_12 stl_285\">ABNCoV2 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5736em;top:13.1401em;\"><span class=\"stl_269 stl_12 stl_391\">excluding \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7405em;top:13.8958em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0836em;top:13.8901em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:62.0442em;top:13.8901em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:67.0048em;top:13.8901em;\"><span class=\"stl_269 stl_12 stl_493\">write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7398em;top:15.5801em;\"><span class=\"stl_277 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">Intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8367em;top:15.5801em;\"><span class=\"stl_277 stl_15 stl_296\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.818em;top:15.5801em;\"><span class=\"stl_277 stl_15 stl_346\">1,429,488 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8617em;top:15.5801em;\"><span class=\"stl_277 stl_15 stl_585\">7,911,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7398em;top:16.602em;\"><span class=\"stl_277 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">Property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:57.9205em;top:16.602em;\"><span class=\"stl_277 stl_15 stl_335\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2173em;top:16.602em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.8417em;top:16.602em;\"><span class=\"stl_277 stl_15 stl_335\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:17.6239em;\"><span class=\"stl_277 stl_15 stl_63\" style=\"word-spacing:-0.0241em;\">Right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:58.4267em;top:17.6239em;\"><span class=\"stl_277 stl_15 stl_664\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2173em;top:17.6239em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.348em;top:17.6239em;\"><span class=\"stl_277 stl_15 stl_664\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:18.6458em;\"><span class=\"stl_277 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">Financial assets \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7486em;top:18.6458em;\"><span class=\"stl_277 stl_15 stl_730\">15,741 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3398em;top:18.6458em;\"><span class=\"stl_277 stl_15 stl_117\">235,711 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2742em;top:18.6458em;\"><span class=\"stl_277 stl_15 stl_120\">251,452 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:19.662em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0328em;\">Total non-current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7036em;top:19.662em;\"><span class=\"stl_269 stl_12 stl_117\">8,950,162 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6455em;top:19.662em;\"><span class=\"stl_269 stl_12 stl_123\">1,665,199 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2455em;top:19.662em;\"><span class=\"stl_269 stl_12 stl_122\">10,615,361 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:21.2933em;\"><span class=\"stl_277 stl_15 stl_53\">Inventories \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8442em;top:21.2933em;\"><span class=\"stl_277 stl_15 stl_303\">1,643,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2173em;top:21.2933em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.7655em;top:21.2933em;\"><span class=\"stl_277 stl_15 stl_303\">1,643,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:22.3151em;\"><span class=\"stl_277 stl_15 stl_66\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8448em;top:22.3151em;\"><span class=\"stl_277 stl_15 stl_101\">1,891,834 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.2598em;top:22.3151em;\"><span class=\"stl_277 stl_15 stl_409\">220,840 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8898em;top:22.3151em;\"><span class=\"stl_277 stl_15 stl_706\">2,112,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7398em;top:23.337em;\"><span class=\"stl_277 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">Securities, cash and cash equivalents \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8792em;top:23.337em;\"><span class=\"stl_277 stl_15 stl_129\">1,867,481 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2173em;top:23.337em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.8005em;top:23.337em;\"><span class=\"stl_277 stl_15 stl_129\">1,867,481 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:24.3533em;\"><span class=\"stl_269 stl_12 stl_48\" style=\"word-spacing:-0.0263em;\">Total current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6386em;top:24.3533em;\"><span class=\"stl_269 stl_12 stl_321\">5,403,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.1017em;top:24.3533em;\"><span class=\"stl_269 stl_12 stl_52\">220,840 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5498em;top:24.3533em;\"><span class=\"stl_269 stl_12 stl_470\">5,623,891 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:25.9789em;\"><span class=\"stl_269 stl_12 stl_56\" style=\"word-spacing:-0.0244em;\">Total assets \u00a0</span></div><div class=\"stl_01\" style=\"left:57.3186em;top:25.9789em;\"><span class=\"stl_269 stl_12 stl_142\">14,353,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5817em;top:25.9789em;\"><span class=\"stl_269 stl_12 stl_545\">1,886,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2311em;top:25.9789em;\"><span class=\"stl_269 stl_12 stl_525\">16,239,252 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:27.6101em;\"><span class=\"stl_277 stl_15 stl_377\">Equity \u00a0</span></div><div class=\"stl_01\" style=\"left:57.5911em;top:27.6101em;\"><span class=\"stl_277 stl_15 stl_657\">10,339,932 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3292em;top:27.6101em;\"><span class=\"stl_277 stl_15 stl_152\">557,683 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5298em;top:27.6101em;\"><span class=\"stl_277 stl_15 stl_376\">10,897,615 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7392em;top:28.632em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8536em;top:28.632em;\"><span class=\"stl_277 stl_15 stl_382\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3211em;top:28.632em;\"><span class=\"stl_277 stl_15 stl_107\">521,936 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7392em;top:28.632em;\"><span class=\"stl_277 stl_15 stl_451\">2,898,925 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7386em;top:29.6539em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">Other non-current liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:58.3098em;top:29.6539em;\"><span class=\"stl_277 stl_15 stl_211\">208,556 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.2667em;top:29.6539em;\"><span class=\"stl_277 stl_15 stl_329\">806,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.8348em;top:29.6539em;\"><span class=\"stl_277 stl_15 stl_444\">1,014,976 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7386em;top:30.6758em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">Other current liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8986em;top:30.6758em;\"><span class=\"stl_277 stl_15 stl_400\">1,427,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2167em;top:30.6758em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.8198em;top:30.6758em;\"><span class=\"stl_277 stl_15 stl_658\">1,427,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7386em;top:31.692em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0348em;\">Total equity and liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:57.318em;top:31.692em;\"><span class=\"stl_269 stl_12 stl_142\">14,353,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5811em;top:31.692em;\"><span class=\"stl_269 stl_12 stl_545\">1,886,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2305em;top:31.692em;\"><span class=\"stl_269 stl_12 stl_525\">16,239,252 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2133em;\"><span class=\"stl_352 stl_12 stl_289\" 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_353 stl_15 stl_278\" 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_353 stl_15 stl_16\" 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_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">following components: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3852em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:14.3783em;\"><span class=\"stl_773 stl_774 stl_458\" style=\"word-spacing:-0.0351em;\">Intangible assets DKK 1,429 million: </span><span class=\"stl_353 stl_15 stl_223\" style=\"word-spacing:-0.0378em;\">Included the \u00a0</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:15.2183em;\"><span class=\"stl_353 stl_15 stl_275\" 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_353 stl_15 stl_75\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:5.4332em;top:21.0439em;\"><span class=\"stl_773 stl_774 stl_392\" style=\"word-spacing:-0.0346em;\">Financial assets DKK 236 million: </span><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">commercial launch. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.217em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:10.2102em;\"><span class=\"stl_773 stl_774 stl_74\" style=\"word-spacing:-0.0339em;\">Receivables DKK 221 million: </span><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0273em;\">Commercial batches \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:11.0502em;\"><span class=\"stl_353 stl_15 stl_25\" 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_353 stl_15 stl_63\">process. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5502em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:13.5433em;\"><span class=\"stl_773 stl_774 stl_96\" style=\"word-spacing:-0.0331em;\">Deferred consideration DKK 522 million: </span><span class=\"stl_353 stl_15 stl_775\" style=\"word-spacing:-0.059em;\">As part \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:14.3833em;\"><span class=\"stl_353 stl_15 stl_190\" 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_353 stl_15 stl_288\" 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_353 stl_15 stl_35\" 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_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">milestone scenario. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.5495em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:18.5427em;\"><span class=\"stl_773 stl_774 stl_264\" style=\"word-spacing:-0.0374em;\">Other non-current liabilities DKK 806 million: </span><span class=\"stl_353 stl_15 stl_39\">The \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:19.3827em;\"><span class=\"stl_353 stl_15 stl_290\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_223\" 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_353 stl_15 stl_67\">cost. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8697": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_228\" style=\"word-spacing:0.0025em;\">Note 15 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_328\" style=\"word-spacing:0.0079em;\">Intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:40.3324em;top:10.3531em;\"><span class=\"stl_683 stl_12 stl_180\" style=\"word-spacing:-0.0239em;\">Key accounting estimates \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.3943em;\"><span class=\"stl_352 stl_12 stl_223\" style=\"word-spacing:-0.0378em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.2331em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0356em;\">When determining the amortization period for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.0662em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">acquired product rights, Management need to make \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.8993em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">an assessment of expected useful economic life. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.7324em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">In the assessment Management take among other \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.5656em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">things the following components into consideration: \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.3987em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0342em;\">The maturity of the products acquired, development \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.2318em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">in the market the acquired products are targeting, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.0649em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">the current competitors, clinical development of new \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.8981em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">competing products and entry barriers to the market \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.7312em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">due to advanced production technology. Straight-line \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.5643em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.0349em;\">amortization reflects the use and impairment of the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.3974em;\"><span class=\"stl_353 stl_15 stl_334\" style=\"word-spacing:-0.0385em;\">product rights. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.0643em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0323em;\">Management continuously updates the valuation model \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.8974em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">used when acquiring the product rights from GSK to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.7306em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">assess the value creation expected from the acquisi- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.5637em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">tion. The latest update of the valuation model shows \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.3968em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">a value above the net present value of the purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.2299em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">price, hence there is no indications of impairment. \u00a0</span></div><div class=\"stl_01\" style=\"left:57.3403em;top:10.3531em;\"><span class=\"stl_683 stl_12 stl_35\" style=\"word-spacing:-0.0273em;\">Key accounting judgments \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.3999em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Management has made the following accounting judg- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.2331em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0342em;\">ments which significantly affect the amounts recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:13.0662em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">nized in the consolidated financial statements: \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:14.7274em;\"><span class=\"stl_352 stl_12 stl_85\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:15.5662em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0247em;\">Under the Group\u2019s accounting policies and in accordance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.3993em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">with common industry practice, development costs \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:17.2324em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">are generally expensed in the year they occur. This \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:18.0656em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">approach is taken due to the uncertainty surrounding \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:18.8987em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">the future benefits of these costs until commercial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:19.7318em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">approval is obtained. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.984em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9452em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_16\">Acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:47.0533em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_17\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5502em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_39\" style=\"word-spacing:-0.04em;\">rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1233em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_25\">Developed \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6715em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_550\">intangible \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5452em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_165\" style=\"word-spacing:1.0869em;\">Product development \u00a0</span></div><div class=\"stl_01\" style=\"left:36.0665em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_390\">Production \u00a0</span></div><div class=\"stl_01\" style=\"left:46.1383em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_21\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0771em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_377\">rights \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2871em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_66\" style=\"word-spacing:-0.029em;\">in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0552em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_46\">Process \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3202em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_223\">Software \u00a0</span></div><div class=\"stl_01\" style=\"left:46.1771em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_35\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9777em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7233em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_279\" style=\"word-spacing:-0.0202em;\">Costs as of January 1, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1033em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_503\">5,908,277 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.884em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_126\">2,690,013 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9965em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.8402em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_518\">114,958 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6133em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_709\">417,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8933em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_576\">9,130,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7233em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6308em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_381\">186,433 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2721em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9965em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.9433em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_57\">233 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8658em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_113\">21,259 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3027em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_444\">207,925 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5483em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.1052em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_158\">374,857 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2008em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_670\">17,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3427em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_149\">(392,759) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1702em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.724em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Transfer to/from property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5483em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9971em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.2396em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_232\">(2,265) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4571em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_202\">(884) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.789em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_668\">(3,149) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.6727em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_133\">(1,403,264) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9977em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.7221em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.6471em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_424\">(26,224) \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5908em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_121\">(1,429,488) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.8333em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_107\">33 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9977em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.264em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_186\">66 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.8096em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_575\">(24) \u00a0</span></div><div class=\"stl_01\" style=\"left:52.7296em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_38\">75 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7239em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_219\" style=\"word-spacing:-0.0154em;\">Cost as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9296em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_460\">6,094,710 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6571em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_312\">1,286,782 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9371em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_106\">374,857 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6396em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_321\">130,894 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7252em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_346\">18,694 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6077em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_201\">7,905,937 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0295em;\">Amortization and impairment losses as of January 1, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.2446em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_588\">1,116,835 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8577em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_460\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9983em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.8408em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_414\">102,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8508em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_27\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7046em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_286\">2,648,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_377\">Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6946em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_687\">317,449 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.274em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.4096em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_621\">31,238 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.5202em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_406\">8,120 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4471em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2327em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_295\">356,807 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5496em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.274em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9983em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.3021em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_435\">(1,231) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4471em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.7508em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_435\">(1,231) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5496em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.6733em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_133\">(1,403,264) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9983em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.7227em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.6477em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_424\">(26,224) \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5915em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_121\">(1,429,488) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5496em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.274em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9983em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.9958em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_710\">119 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4477em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.4452em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_710\">119 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_190\" style=\"word-spacing:-0.0299em;\">Amortization and impairment losses as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8958em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_445\">1,434,284 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2671em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.2758em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_621\">31,238 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6596em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_124\">109,523 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4408em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:50.5546em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_27\">1,575,045 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_35\" style=\"word-spacing:-0.0272em;\">Carrying amount as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8933em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_213\">4,660,426 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.659em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_312\">1,286,782 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9358em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_131\">343,619 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0121em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_147\">21,371 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7271em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_346\">18,694 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5346em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_456\">6,330,892 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:31.47em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0328em;\">Geographical split of intangible assets \u2013 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:32.4975em;\"><span class=\"stl_277 stl_15 stl_334\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7665em;top:32.4975em;\"><span class=\"stl_277 stl_15 stl_267\">6,325,789 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:33.5194em;\"><span class=\"stl_277 stl_15 stl_92\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3815em;top:33.5194em;\"><span class=\"stl_277 stl_15 stl_243\">685 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:34.5413em;\"><span class=\"stl_277 stl_15 stl_190\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9071em;top:34.5413em;\"><span class=\"stl_277 stl_15 stl_489\">1,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:35.5632em;\"><span class=\"stl_277 stl_15 stl_181\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8808em;top:35.5632em;\"><span class=\"stl_277 stl_15 stl_315\">2,580 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:36.5794em;\"><span class=\"stl_269 stl_12 stl_285\" style=\"word-spacing:-0.0327em;\">Total intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5346em;top:36.5794em;\"><span class=\"stl_269 stl_12 stl_456\">6,330,892 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:10.2094em;\"><span class=\"stl_352 stl_12 stl_223\" style=\"word-spacing:-0.0378em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:11.0482em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">December 31, 2019 the Company acquired the product \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:11.8813em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">rights to two commercial products owned by GSK - \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:12.7144em;\"><span class=\"stl_353 stl_15 stl_31\" style=\"word-spacing:-0.0209em;\">Rabipur/RabAvert and Encepur. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:14.3813em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">The products have been on the market for more than \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:15.2144em;\"><span class=\"stl_353 stl_15 stl_55\" 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:55.7502em;top:16.0475em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">ucts. Management assesses that it will require up to 10 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:16.8807em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">years of clinical development for competitors to bring \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:17.7138em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.028em;\">a new competing product to the market likewise the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:18.5469em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0329em;\">production process required to produce these products \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:19.38em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0349em;\">is highly complex. Based on these factors Management \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:20.2132em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">assesses that the acquired product rights should be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:21.0463em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">amortized over 20 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:22.7132em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">In June 2024, based on higher-than-expected sales \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:23.5463em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">of Rabipur and Encepur during the second quarter of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:24.3794em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">2024, Management assessed it likely that Bavarian \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:25.2125em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">Nordic would reach the trigger for the sales milestone \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:26.0457em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">included in the Asset Purchase Agreement concluded \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:26.8788em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">in 2019 and this was finally confirmed by end of July \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:27.7119em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">2024. The sales milestone of DKK 186 million has been \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:28.545em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">recognized as an addition to the product rights and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:29.3782em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0293em;\">deferred consideration. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:31.045em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">In May 2023, the Company concluded a Purchase and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:31.8782em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Sale Agreement with Emergent BioSolutions. The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:32.7113em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">agreement included acquisition of product rights to two \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:33.5444em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0277em;\">commercial travel vaccines - Vivotif and Vaxchora. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:34.3775em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0285em;\">Vivotif and Vaxchora were first licensed in the US in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:35.2107em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0249em;\">1989 and 2016 respectively. Vaccines have historically \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:36.0438em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">shown to have a long lifespan due to stringent regu- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:36.8769em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">latory requirements, high research and development \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7502em;top:37.71em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">costs and a complex manufacturing process. Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2189em;\"><span class=\"stl_353 stl_15 stl_61\" 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:11.052em;\"><span class=\"stl_353 stl_15 stl_193\" 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:11.8852em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0293em;\">entering the market and taking significant market \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.7183em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">shares. Based on these factors Management assesses \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5514em;\"><span class=\"stl_353 stl_15 stl_289\" 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:14.3845em;\"><span class=\"stl_353 stl_15 stl_29\" style=\"word-spacing:-0.02em;\">over 20 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0514em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Vivotif was developed more than 30 years ago and the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8845em;\"><span class=\"stl_353 stl_15 stl_44\" style=\"word-spacing:-0.0258em;\">market is larger than for Vaxchora. Therefore, the risk of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.7177em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">competition is also deemed higher, hence the amorti- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5508em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0291em;\">zation period is assessed to be 10 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.2177em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">The acquisition price for the two product rights consists \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0508em;\"><span class=\"stl_353 stl_15 stl_54\" 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:4.7244em;top:21.8839em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">DKK 137 million for Vaxchora. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5508em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">The Purchase and Sale Agreement also includes \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3839em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">an earnout payment starting at USD 30 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.217em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">The earnout payment relates to sale of Vivotif and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.0502em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">Vaxchora. As per December 31, 2023 Management does \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8833em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">not judge the sales milestone to be probable and there- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.7164em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">fore the earnout payment has not been recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.5495em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">either part of the project rights nor the deferred consid- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.3827em;\"><span class=\"stl_353 stl_15 stl_194\">eration. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.0439em;\"><span class=\"stl_352 stl_12 stl_85\" style=\"word-spacing:-0.0318em;\">Acquired rights and development in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.8827em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.7158em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">Emergent BioSolutions included acquisition of a late- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5489em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">stage vaccine candidate for Chikungunya virus. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.382em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">initial acquisition price amounted to DKK 788 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.2152em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">No further cost will be capitalized. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.2152em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">The agreement with Emergent BioSolutions also \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0483em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">included milestone payments totaling USD 80 million \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.8814em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">related to submission and approval of Biologics License \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.7145em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Application (BLA) to FDA and Marketing Authorization \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5477em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">Application to EMA for the chikungunya development \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3808em;\"><span class=\"stl_353 stl_15 stl_275\">asset. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.0477em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">At initial recognition the net present value of probable \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8808em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">future development milestone payments to Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.7139em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">BioSolutions Inc. amounted to DKK 499 million and was \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.547em;\"><span class=\"stl_353 stl_15 stl_64\" style=\"word-spacing:-0.0221em;\">recognized as deferred consideration (note 24). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.2083em;\"><span class=\"stl_352 stl_12 stl_30\" style=\"word-spacing:-0.0324em;\">Developed production processes \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.047em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Developed production processes consist of the the as-is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.8802em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">technology transfer from GSK to Bavarian Nordic of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.7133em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0283em;\">the manufacturing process for Rabipur/RabAvert and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.5464em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">Encepur. The Company has incurred material costs in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.3795em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">terms of internal labour and consultancy to handle the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.2127em;\"><span class=\"stl_353 stl_15 stl_473\" style=\"word-spacing:-0.0359em;\">technology transfer and has gained crucial knowledge \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.0458em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">about the manufacturing process. These costs are capi- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.8789em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">talized as an intangible asset. As per December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.712em;\"><span class=\"stl_353 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">the capitalized costs amounts to DKK 344 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.3733em;\"><span class=\"stl_352 stl_12 stl_21\" style=\"word-spacing:-0.0339em;\">Intangible assets in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.212em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0263em;\">Other intable assets in progress relates to IT invest- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.0452em;\"><span class=\"stl_353 stl_15 stl_195\">ments. \u00a0</span></div><div class=\"stl_01\" style=\"left:59.5351em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.4689em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_490\" style=\"word-spacing:-0.0425em;\">Carrying amount \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2651em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_83\">Remaining \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:12.2289em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5983em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_283\" style=\"word-spacing:-0.0322em;\">Acquistion price \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7958em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_577\" style=\"word-spacing:-0.0118em;\">December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6133em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_377\" style=\"word-spacing:-0.0396em;\">amortization period \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:13.9133em;\"><span class=\"stl_277 stl_15 stl_279\">Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:53.672em;top:13.9133em;\"><span class=\"stl_277 stl_15 stl_306\">3,252,110 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.667em;top:13.9133em;\"><span class=\"stl_277 stl_15 stl_57\">2,463,437 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1445em;top:13.9133em;\"><span class=\"stl_277 stl_15 stl_351\" style=\"word-spacing:-0.0048em;\">15 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_66\">Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:53.5989em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_442\">2,393,023 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7314em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_650\">1,811,007 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1451em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_351\" style=\"word-spacing:-0.0048em;\">15 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_181\">Vivotif \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0883em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_361\">312,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.2195em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_620\">259,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9576em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_29\" style=\"word-spacing:-0.02em;\">8.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_275\">Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:54.1514em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_702\">137,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1626em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_301\">126,223 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6439em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_402\" style=\"word-spacing:-0.01em;\">18.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:-0.0331em;\">Total product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:53.3876em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_460\">6,094,710 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.4358em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_213\">4,660,426 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.5351em;top:20.8252em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.4701em;top:22.0245em;\"><span class=\"stl_269 stl_12 stl_490\" style=\"word-spacing:-0.0425em;\">Carrying amount \u00a0</span></div><div class=\"stl_01\" style=\"left:67.2664em;top:22.0245em;\"><span class=\"stl_269 stl_12 stl_83\">Remaining \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:22.7802em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5995em;top:22.7745em;\"><span class=\"stl_269 stl_12 stl_283\" style=\"word-spacing:-0.0322em;\">Acquistion price \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7945em;top:22.7745em;\"><span class=\"stl_269 stl_12 stl_329\" style=\"word-spacing:-0.0125em;\">December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6145em;top:22.7745em;\"><span class=\"stl_269 stl_12 stl_377\" style=\"word-spacing:-0.0396em;\">amortization period \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:24.4645em;\"><span class=\"stl_277 stl_15 stl_279\">Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:53.6458em;top:24.4645em;\"><span class=\"stl_277 stl_15 stl_300\">3,140,250 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.672em;top:24.4645em;\"><span class=\"stl_277 stl_15 stl_296\">2,512,200 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1439em;top:24.4645em;\"><span class=\"stl_277 stl_15 stl_545\" style=\"word-spacing:-0.0052em;\">16 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:25.4864em;\"><span class=\"stl_277 stl_15 stl_66\">Encepur \u00a0</span></div><div class=\"stl_01\" style=\"left:53.5976em;top:25.4864em;\"><span class=\"stl_277 stl_15 stl_267\">2,318,450 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.6964em;top:25.4864em;\"><span class=\"stl_277 stl_15 stl_324\">1,854,760 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1439em;top:25.4864em;\"><span class=\"stl_277 stl_15 stl_545\" style=\"word-spacing:-0.0052em;\">16 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:26.5083em;\"><span class=\"stl_277 stl_15 stl_181\">Vivotif \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0876em;top:26.5083em;\"><span class=\"stl_277 stl_15 stl_361\">312,208 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1801em;top:26.5083em;\"><span class=\"stl_277 stl_15 stl_366\">291,357 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9901em;top:26.5083em;\"><span class=\"stl_277 stl_15 stl_418\" style=\"word-spacing:-0.003em;\">9.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:27.5302em;\"><span class=\"stl_277 stl_15 stl_275\">Vaxchora \u00a0</span></div><div class=\"stl_01\" style=\"left:54.152em;top:27.5302em;\"><span class=\"stl_277 stl_15 stl_702\">137,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.2576em;top:27.5302em;\"><span class=\"stl_277 stl_15 stl_670\">133,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6795em;top:27.5302em;\"><span class=\"stl_277 stl_15 stl_59\" style=\"word-spacing:0.006em;\">19.5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:28.5464em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:-0.0331em;\">Total product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:53.3514em;top:28.5464em;\"><span class=\"stl_269 stl_12 stl_504\">5,908,277 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.4676em;top:28.5464em;\"><span class=\"stl_269 stl_12 stl_301\">4,791,442 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.5734em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8977em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_16\">Acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2815em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_17\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5027em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_39\" style=\"word-spacing:-0.04em;\">rights and \u00a0</span></div><div class=\"stl_01\" style=\"left:40.8996em;top:12.1682em;\"><span class=\"stl_269 stl_12 stl_550\">intangible \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4977em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_165\" style=\"word-spacing:1.0869em;\">Product development \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3665em;top:12.9182em;\"><span class=\"stl_269 stl_12 stl_21\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0296em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_377\">rights \u00a0</span></div><div class=\"stl_01\" style=\"left:31.239em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_66\" style=\"word-spacing:-0.029em;\">in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:36.5484em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_223\">Software \u00a0</span></div><div class=\"stl_01\" style=\"left:41.4052em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_35\">progress \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2059em;top:13.6682em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_61\" style=\"word-spacing:-0.024em;\">Costs as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0846em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_460\">5,458,700 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8302em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_525\">1,013,484 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0177em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_418\">106,094 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7765em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_125\">274,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.9877em;top:15.3582em;\"><span class=\"stl_277 stl_15 stl_101\">6,852,768 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4996em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:32.3452em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_415\">389,751 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.6921em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_366\">3,034 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7834em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_116\">143,978 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4721em;top:16.38em;\"><span class=\"stl_277 stl_15 stl_169\">536,758 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4996em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.224em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.6796em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_301\">2,353 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2127em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_115\">(2,353) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.3971em;top:17.4019em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:27.579em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_229\">449,577 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8021em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_301\">1,286,778 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.6784em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_420\">4,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4396em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_364\">1,212 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.0696em;top:18.4238em;\"><span class=\"stl_277 stl_15 stl_407\">1,741,779 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7215em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4984em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2227em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.4796em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_163\">(1,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6715em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.9284em;top:19.4457em;\"><span class=\"stl_277 stl_15 stl_163\">(1,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7209em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4977em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2221em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.1734em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_361\">497 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.3865em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_711\">(1) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6146em;top:20.4675em;\"><span class=\"stl_277 stl_15 stl_207\">496 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7202em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_52\" style=\"word-spacing:-0.016em;\">Cost as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8421em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_209\">5,908,277 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6121em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_266\">2,690,013 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9009em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_662\">114,958 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6671em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_712\">417,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.8946em;top:21.4838em;\"><span class=\"stl_269 stl_12 stl_670\">9,130,574 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7208em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.0311em;\">Amortization and impairment losses as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5702em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_175\">818,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2227em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.3784em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_340\">91,326 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6715em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.5727em;top:23.115em;\"><span class=\"stl_277 stl_15 stl_713\">910,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7215em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_377\">Amortization \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5652em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_432\">298,030 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2234em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.3752em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_125\">12,028 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6727em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.4971em;top:24.1369em;\"><span class=\"stl_277 stl_15 stl_122\">310,058 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4996em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.8077em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_460\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9484em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.0765em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_27\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.9971em;top:25.1588em;\"><span class=\"stl_277 stl_15 stl_346\">1,429,488 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.499em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2234em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.639em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_714\">(1,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6721em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.0877em;top:26.1807em;\"><span class=\"stl_277 stl_15 stl_714\">(1,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7221em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:29.499em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2234em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.1627em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_52\">272 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.6727em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.6121em;top:27.2025em;\"><span class=\"stl_277 stl_15 stl_52\">272 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_190\" style=\"word-spacing:-0.0301em;\">Amortization and impairment losses as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.969em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_715\">1,116,835 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5909em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_326\">1,403,264 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8965em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_340\">102,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9227em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_220\">26,224 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.7177em;top:28.2188em;\"><span class=\"stl_269 stl_12 stl_43\">2,648,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_73\" style=\"word-spacing:-0.0274em;\">Carrying amount as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8746em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_175\">4,791,442 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.639em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_122\">1,286,749 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.199em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_220\">12,443 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6734em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_404\">391,102 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.7602em;top:29.8444em;\"><span class=\"stl_269 stl_12 stl_616\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:31.47em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:-0.033em;\">Geographical split of intangible assets \u2013 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:32.4975em;\"><span class=\"stl_277 stl_15 stl_334\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:46.0684em;top:32.4975em;\"><span class=\"stl_277 stl_15 stl_306\">6,475,179 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:33.5194em;\"><span class=\"stl_277 stl_15 stl_92\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6321em;top:33.5194em;\"><span class=\"stl_277 stl_15 stl_107\">270 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:34.5413em;\"><span class=\"stl_277 stl_15 stl_190\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1171em;top:34.5413em;\"><span class=\"stl_277 stl_15 stl_427\">2,005 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:35.5632em;\"><span class=\"stl_277 stl_15 stl_32\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1252em;top:35.5632em;\"><span class=\"stl_277 stl_15 stl_562\">4,282 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7227em;top:36.5794em;\"><span class=\"stl_269 stl_12 stl_285\" style=\"word-spacing:-0.0327em;\">Total intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:45.7602em;top:36.5794em;\"><span class=\"stl_269 stl_12 stl_616\">6,481,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_366\" style=\"word-spacing:0.0075em;\">Note 16 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_124\" style=\"word-spacing:0.0096em;\">Property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:38.984em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3302em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_17\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:40.4433em;top:12.085em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0376em;\">fixtures and \u00a0</span></div><div class=\"stl_01\" style=\"left:39.9058em;top:12.7519em;\"><span class=\"stl_269 stl_12 stl_22\" style=\"word-spacing:-0.0375em;\">fittings, other \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1427em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_87\" style=\"word-spacing:-0.0428em;\">Land and \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5702em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_24\">Leasehold \u00a0</span></div><div class=\"stl_01\" style=\"left:36.4583em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0343em;\">Plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1827em;top:13.4188em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0367em;\">plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:44.924em;top:13.4188em;\"><span class=\"stl_269 stl_12 stl_495\" style=\"word-spacing:-0.0413em;\">Assets under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:14.0907em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0671em;top:14.085em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:0.9976em;\">buildings improvement \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1402em;top:14.085em;\"><span class=\"stl_269 stl_12 stl_187\">machinery \u00a0</span></div><div class=\"stl_01\" style=\"left:40.7615em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_13\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:45.0658em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_13\">construction \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9802em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_279\" style=\"word-spacing:-0.0202em;\">Costs as of January 1, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1265em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_420\">1,268,062 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.7383em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_687\">47,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0671em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_291\">646,707 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8327em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_123\">889,215 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.514em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_326\">206,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8752em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_411\">3,057,741 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5502em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2746em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.7452em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_150\">1,498 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.5252em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_716\">5,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8246em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_234\">72,825 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.634em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_715\">79,512 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0696em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_717\">11,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0508em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_320\">1,516 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4552em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_327\">71,763 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1171em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_218\">34,526 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4102em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_697\">(118,932) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1721em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">Transfer from intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5502em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2746em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.814em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_676\">3,149 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.7233em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.4477em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.9871em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_676\">3,149 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5496em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:32.8571em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_718\">(1,271) \u00a0</span></div><div class=\"stl_01\" style=\"left:37.5802em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_327\">(2,137) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0077em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_273\">(11,243) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4796em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_123\">(538) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4827em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_665\">(15,189) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.1583em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_666\">(5,144) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5008em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_361\">104 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.544em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_149\">(1,305) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3115em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_679\">(1,415) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.5221em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_649\">(416) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8096em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_410\">(8,176) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_219\" style=\"word-spacing:-0.0154em;\">Cost as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9508em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_525\">1,274,045 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5708em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_108\">47,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9708em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_244\">719,675 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6358em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_322\">916,272 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3871em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_118\">159,660 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6965em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_719\">3,117,037 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7233em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_28\" style=\"word-spacing:-0.0265em;\">Depreciation and impairment losses as of January 1,2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6377em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_156\">281,049 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6946em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_126\">21,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0702em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_175\">234,033 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.904em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_659\">193,155 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4458em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2233em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_503\">730,226 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_54\">Depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0058em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_703\">54,136 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0527em;top:24.1088em;z-index:900;\"><span class=\"stl_277 stl_15 stl_426\">7</span><span class=\"stl_277 stl_15 stl_29\">,</span><span class=\"stl_277 stl_15 stl_101\">394 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4577em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_566\">67,637 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1196em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_298\">92,301 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4465em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2302em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_389\">221,468 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2733em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.739em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_59\">1,529 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.284em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_408\">(1,529) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4465em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:53.1708em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">Transfer from intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2733em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.7458em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_115\">1,231 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.7221em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.4465em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.919em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_137\">1,231 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5483em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9971em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.1183em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_432\">12,044 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4465em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.5677em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_432\">12,044 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.2871em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_205\">(337) \u00a0</span></div><div class=\"stl_01\" style=\"left:37.559em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_630\">(2,019) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3434em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_720\">(5,198) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4471em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.7415em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_620\">(7,554) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.5965em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_367\">(146) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8215em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_61\">23 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5452em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_243\">54 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.724em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_314\">(877) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4477em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.1946em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_143\">(946) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_73\" style=\"word-spacing:-0.0275em;\">Depreciation and impairment losses as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4896em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_120\">335,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5671em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_125\">29,069 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8933em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_607\">302,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.639em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_232\">289,896 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4402em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.064em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_699\">956,469 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_35\" style=\"word-spacing:-0.0272em;\">Carrying amount as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4827em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_124\">939,006 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5683em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_155\">18,316 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0065em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_591\">417,210 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6602em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_137\">626,376 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.389em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_118\">159,660 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5708em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_651\">2,160,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:33.0157em;\"><span class=\"stl_269 stl_12 stl_21\" style=\"word-spacing:-0.0339em;\">Geographical split of property, plant and equipment \u2013 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:33.9963em;\"><span class=\"stl_277 stl_15 stl_334\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7827em;top:33.9963em;\"><span class=\"stl_277 stl_15 stl_133\">1,509,265 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:34.9713em;\"><span class=\"stl_277 stl_15 stl_92\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6458em;top:34.9713em;\"><span class=\"stl_277 stl_15 stl_667\">47,818 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:35.9463em;\"><span class=\"stl_277 stl_15 stl_190\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5771em;top:35.9463em;\"><span class=\"stl_277 stl_15 stl_231\">18,283 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:36.9213em;\"><span class=\"stl_277 stl_15 stl_181\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2446em;top:36.9213em;\"><span class=\"stl_277 stl_15 stl_484\">585,202 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:37.8907em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0328em;\">Total property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5708em;top:37.8907em;\"><span class=\"stl_269 stl_12 stl_651\">2,160,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:10.2232em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">Mortgage loans of DKK 15.1 million are secured by \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:11.0563em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">mortgages totaling DKK 50.0 million on the property \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:11.8894em;\"><span class=\"stl_353 stl_15 stl_180\" style=\"word-spacing:-0.0239em;\">B\u00f8geskovvej 9/Hejreskovvej 10A, Kvistgaard. In addi- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:12.7225em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">tion, as of December 31, 2024, mortgage deeds for a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:13.5557em;\"><span class=\"stl_353 stl_15 stl_283\" 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:55.7496em;top:14.3888em;\"><span class=\"stl_353 stl_15 stl_22\" style=\"word-spacing:-0.0375em;\">amount of assets mortgaged in security of mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:15.2219em;\"><span class=\"stl_353 stl_15 stl_422\" style=\"word-spacing:-0.0355em;\">loans is DKK 1,356.2 million (land and buildings: DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:16.055em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0249em;\">939.0 million; plant and machinery: DKK 417.2 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9828em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3303em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_17\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:40.4434em;top:12.085em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0376em;\">fixtures and \u00a0</span></div><div class=\"stl_01\" style=\"left:39.9059em;top:12.7519em;\"><span class=\"stl_269 stl_12 stl_22\" style=\"word-spacing:-0.0375em;\">fittings, other \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1428em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_87\" style=\"word-spacing:-0.0428em;\">Land and \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5703em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_24\">Leasehold \u00a0</span></div><div class=\"stl_01\" style=\"left:36.4584em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0343em;\">Plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1828em;top:13.4188em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0367em;\">plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:44.924em;top:13.4188em;\"><span class=\"stl_269 stl_12 stl_495\" style=\"word-spacing:-0.0413em;\">Assets under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:14.0907em;\"><span class=\"stl_277 stl_15 stl_377\" style=\"word-spacing:-0.0396em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0672em;top:14.085em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:0.9976em;\">buildings improvement \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1403em;top:14.085em;\"><span class=\"stl_269 stl_12 stl_187\">machinery \u00a0</span></div><div class=\"stl_01\" style=\"left:40.7615em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_13\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:45.0659em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_13\">construction \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9803em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_61\" style=\"word-spacing:-0.024em;\">Costs as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5984em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_445\">858,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6684em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_218\">40,237 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.1003em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_106\">514,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8084em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_492\">626,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5978em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_585\">196,130 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7759em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_324\">2,235,315 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:27.964em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_492\">13,387 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9884em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_52\">2,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.3872em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_211\">20,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.424em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_181\">8,864 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8278em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_336\">96,836 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2497em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_101\">142,525 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0203em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_721\">79,712 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9797em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_43\">2,688 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4103em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_361\">43,983 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1603em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_662\">21,797 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.404em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_453\">(148,180) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1728em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6953em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_687\">300,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0047em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_57\">1,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.384em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_447\">86,336 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7822em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_208\">234,826 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8559em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_268\">58,926 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2547em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_266\">681,453 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:28.6178em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_722\">(178) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2747em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.339em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_399\">(27,101) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9953em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_598\">(11,603) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4484em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.3553em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_298\">(38,882) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9603em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_361\">16,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8315em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_361\">39 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7247em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_389\">8,520 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4828em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_572\">9,295 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1703em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_402\">3,009 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6278em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_723\">37,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_724\" style=\"word-spacing:-0.0159em;\">Cost as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9172em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_351\">1,268,062 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5922em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_673\">47,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9034em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_383\">646,707 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6728em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_138\">889,215 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3547em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_429\">206,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6553em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_356\">3,057,741 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_37\" 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:23.5326em;\"><span class=\"stl_277 stl_15 stl_409\">228,405 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6947em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_126\">15,472 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.1053em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_139\">192,624 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8384em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_630\">114,841 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2665em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_143\">551,342 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_54\">Depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9915em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_400\">51,424 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0109em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_101\">6,491 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4009em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_232\">62,552 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1672em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_117\">85,511 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.259em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_157\">205,978 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5503em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2747em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.1628em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_607\">(25,277) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3122em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_398\">(8,745) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.3759em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_346\">(34,022) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.2853em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_169\">1,220 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.834em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_118\">26 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7947em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_725\">4,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4484em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_389\">1,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4484em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.9165em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_161\">6,928 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_47\" 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:27.6144em;\"><span class=\"stl_269 stl_12 stl_442\">281,049 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5615em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_109\">21,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9072em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_432\">234,033 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.734em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_438\">193,155 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4403em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.0678em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_211\">730,226 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_73\" style=\"word-spacing:-0.0274em;\">Carrying amount as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5228em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_567\">987,013 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5359em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_326\">25,047 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.969em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_657\">412,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6134em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_445\">696,060 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.354em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_429\">206,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6065em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_650\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:30.8657em;\"><span class=\"stl_269 stl_12 stl_21\" 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:31.8932em;\"><span class=\"stl_277 stl_15 stl_334\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.839em;top:31.8932em;\"><span class=\"stl_277 stl_15 stl_496\">1,615,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:32.915em;\"><span class=\"stl_277 stl_15 stl_92\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6134em;top:32.915em;\"><span class=\"stl_277 stl_15 stl_674\">52,711 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:33.9369em;\"><span class=\"stl_277 stl_15 stl_190\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5528em;top:33.9369em;\"><span class=\"stl_277 stl_15 stl_216\">40,006 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:34.9588em;\"><span class=\"stl_277 stl_15 stl_32\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3072em;top:34.9588em;\"><span class=\"stl_277 stl_15 stl_689\">619,587 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:35.975em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0328em;\">Total property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6084em;top:35.975em;\"><span class=\"stl_269 stl_12 stl_408\">2,327,517 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:10.2189em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.0269em;\">Mortgage loans of DKK 17.0 million are secured by \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.052em;\"><span class=\"stl_353 stl_15 stl_289\" 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:11.8852em;\"><span class=\"stl_353 stl_15 stl_180\" 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:12.7183em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">tion, as of December 31, 2023, mortgage deeds for a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:13.5514em;\"><span class=\"stl_353 stl_15 stl_283\" 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:14.3845em;\"><span class=\"stl_353 stl_15 stl_94\" 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:15.2177em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">loans is DKK 1,399.7 million (land and buildings: DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.0508em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0252em;\">987.0 million; plant and machinery: DKK 412.7 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_321\" style=\"word-spacing:0.0015em;\">Note 17 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_148\">Right-of-use-assets \u00a0</span></div><div class=\"stl_01\" style=\"left:62.606em;top:9.7747em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.721em;top:10.7378em;\"><span class=\"stl_269 stl_12 stl_61\">Rent \u00a0</span></div><div class=\"stl_01\" style=\"left:61.9398em;top:10.7378em;\"><span class=\"stl_269 stl_12 stl_95\">Car \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:11.4103em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0548em;top:11.4047em;\"><span class=\"stl_269 stl_12 stl_348\">facility \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7335em;top:11.4047em;\"><span class=\"stl_269 stl_12 stl_391\" style=\"word-spacing:0.7661em;\">leasing Equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9873em;top:11.4047em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:12.7178em;\"><span class=\"stl_277 stl_15 stl_286\" style=\"word-spacing:-0.0199em;\">Right-of-use assets as of January 1, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.9391em;top:12.7178em;\"><span class=\"stl_277 stl_15 stl_118\">112,867 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1316em;top:12.7178em;\"><span class=\"stl_277 stl_15 stl_586\">11,154 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2248em;top:12.7178em;\"><span class=\"stl_277 stl_15 stl_726\">1,149 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3491em;top:12.7178em;\"><span class=\"stl_277 stl_15 stl_664\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:13.6928em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:57.5835em;top:13.6928em;\"><span class=\"stl_277 stl_15 stl_161\">1,307 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.3829em;top:13.6928em;\"><span class=\"stl_277 stl_15 stl_408\">4,415 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6366em;top:13.6928em;\"><span class=\"stl_277 stl_15 stl_152\">532 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8922em;top:13.6928em;\"><span class=\"stl_277 stl_15 stl_52\">6,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:14.6678em;\"><span class=\"stl_277 stl_15 stl_30\">Modifications \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2491em;top:14.6678em;\"><span class=\"stl_277 stl_15 stl_268\">20,441 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.976em;top:14.6678em;\"><span class=\"stl_277 stl_15 stl_141\">(56) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.7791em;top:14.6678em;\"><span class=\"stl_277 stl_15 stl_356\">(31) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5816em;top:14.6678em;\"><span class=\"stl_277 stl_15 stl_542\">20,354 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:15.6428em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0622em;top:15.6428em;\"><span class=\"stl_277 stl_15 stl_105\">(15,488) \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1735em;top:15.6428em;\"><span class=\"stl_277 stl_15 stl_138\">(4,373) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4004em;top:15.6428em;\"><span class=\"stl_277 stl_15 stl_389\">(307) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4479em;top:15.6428em;\"><span class=\"stl_277 stl_15 stl_19\">(20,168) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:16.6178em;\"><span class=\"stl_277 stl_15 stl_274\">Depreciations \u00a0</span></div><div class=\"stl_01\" style=\"left:57.016em;top:16.6178em;\"><span class=\"stl_277 stl_15 stl_295\">(36,665) \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1485em;top:16.6178em;\"><span class=\"stl_277 stl_15 stl_266\">(6,805) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4454em;top:16.6178em;\"><span class=\"stl_277 stl_15 stl_678\">(629) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3741em;top:16.6178em;\"><span class=\"stl_277 stl_15 stl_103\">(44,099) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:17.5928em;\"><span class=\"stl_277 stl_15 stl_473\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0716em;top:17.5928em;\"><span class=\"stl_277 stl_15 stl_116\">(26,431) \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6197em;top:17.5928em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:66.3991em;top:17.5928em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.4104em;top:17.5928em;\"><span class=\"stl_277 stl_15 stl_116\">(26,431) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:18.5678em;\"><span class=\"stl_277 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">Reversal depreciations \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2429em;top:18.5678em;\"><span class=\"stl_277 stl_15 stl_542\">15,488 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.376em;top:18.5678em;\"><span class=\"stl_277 stl_15 stl_158\">3,813 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6229em;top:18.5678em;\"><span class=\"stl_277 stl_15 stl_58\">307 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6172em;top:18.5678em;\"><span class=\"stl_277 stl_15 stl_300\">19,608 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:19.5428em;\"><span class=\"stl_277 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6491em;top:19.5428em;\"><span class=\"stl_277 stl_15 stl_524\">1,177 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.1672em;top:19.5428em;\"><span class=\"stl_277 stl_15 stl_61\">34 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3991em;top:19.5428em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.9591em;top:19.5428em;\"><span class=\"stl_277 stl_15 stl_598\">1,211 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7397em;top:20.5122em;\"><span class=\"stl_269 stl_12 stl_56\" style=\"word-spacing:-0.0243em;\">Right-of-use assets as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0841em;top:20.5122em;\"><span class=\"stl_269 stl_12 stl_215\">72,696 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.296em;top:20.5122em;\"><span class=\"stl_269 stl_12 stl_404\">8,182 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.051em;top:20.5122em;\"><span class=\"stl_269 stl_12 stl_311\">1,021 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4379em;top:20.5122em;\"><span class=\"stl_269 stl_12 stl_545\">81,899 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6041em;top:21.8778em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7204em;top:22.841em;\"><span class=\"stl_269 stl_12 stl_61\">Rent \u00a0</span></div><div class=\"stl_01\" style=\"left:61.9391em;top:22.841em;\"><span class=\"stl_269 stl_12 stl_95\">Car \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7397em;top:23.5135em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0541em;top:23.5078em;\"><span class=\"stl_269 stl_12 stl_348\">facility \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7329em;top:23.5078em;\"><span class=\"stl_269 stl_12 stl_391\" style=\"word-spacing:0.7661em;\">leasing Equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9866em;top:23.5078em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7397em;top:24.821em;\"><span class=\"stl_277 stl_15 stl_46\" style=\"word-spacing:-0.022em;\">Right-of-use assets as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2191em;top:24.821em;\"><span class=\"stl_277 stl_15 stl_336\">58,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.3491em;top:24.821em;\"><span class=\"stl_277 stl_15 stl_418\">8,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6616em;top:24.821em;\"><span class=\"stl_277 stl_15 stl_428\">574 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6398em;top:24.821em;\"><span class=\"stl_277 stl_15 stl_715\">67,433 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:25.796em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:57.5829em;top:25.796em;\"><span class=\"stl_277 stl_15 stl_163\">2,551 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.3854em;top:25.796em;\"><span class=\"stl_277 stl_15 stl_311\">8,767 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3991em;top:25.796em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.6491em;top:25.796em;\"><span class=\"stl_277 stl_15 stl_459\">11,318 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7397em;top:26.771em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2835em;top:26.771em;\"><span class=\"stl_277 stl_15 stl_414\">41,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6191em;top:26.771em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:66.3985em;top:26.771em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.6216em;top:26.771em;\"><span class=\"stl_277 stl_15 stl_414\">41,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7397em;top:27.7978em;\"><span class=\"stl_277 stl_15 stl_30\">Modifications \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2841em;top:27.7978em;\"><span class=\"stl_277 stl_15 stl_374\">47,096 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.8641em;top:27.7978em;\"><span class=\"stl_277 stl_15 stl_335\">210 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.616em;top:27.7978em;\"><span class=\"stl_277 stl_15 stl_427\">993 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5422em;top:27.7978em;\"><span class=\"stl_277 stl_15 stl_65\">48,299 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7391em;top:28.8247em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4754em;top:28.8247em;\"><span class=\"stl_277 stl_15 stl_675\">(7,109) \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1641em;top:28.8247em;\"><span class=\"stl_277 stl_15 stl_149\">(2,216) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.426em;top:28.8247em;\"><span class=\"stl_277 stl_15 stl_122\">(409) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7485em;top:28.8247em;\"><span class=\"stl_277 stl_15 stl_620\">(9,734) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7385em;top:29.7997em;\"><span class=\"stl_277 stl_15 stl_274\">Depreciations \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0354em;top:29.7997em;\"><span class=\"stl_277 stl_15 stl_304\">(30,862) \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1466em;top:29.7997em;\"><span class=\"stl_277 stl_15 stl_381\">(5,800) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4797em;top:29.7997em;\"><span class=\"stl_277 stl_15 stl_659\">(419) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4498em;top:29.7997em;\"><span class=\"stl_277 stl_15 stl_686\">(37,081) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7385em;top:30.7747em;\"><span class=\"stl_277 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">Reversal depreciations \u00a0</span></div><div class=\"stl_01\" style=\"left:58.0691em;top:30.7747em;\"><span class=\"stl_277 stl_15 stl_156\">675 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.3729em;top:30.7747em;\"><span class=\"stl_277 stl_15 stl_171\">1,798 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.601em;top:30.7747em;\"><span class=\"stl_277 stl_15 stl_21\">409 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8904em;top:30.7747em;\"><span class=\"stl_277 stl_15 stl_52\">2,882 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7385em;top:31.7497em;\"><span class=\"stl_277 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:58.0647em;top:31.7497em;\"><span class=\"stl_277 stl_15 stl_101\">106 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5029em;top:31.7497em;\"><span class=\"stl_277 stl_15 stl_27\">3</span></div><div class=\"stl_01\" style=\"left:66.2822em;top:31.7497em;\"><span class=\"stl_277 stl_15 stl_27\">1</span></div><div class=\"stl_01\" style=\"left:69.4441em;top:31.7497em;\"><span class=\"stl_277 stl_15 stl_417\">110 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7385em;top:32.7191em;\"><span class=\"stl_269 stl_12 stl_179\" style=\"word-spacing:-0.0246em;\">Right-of-use assets as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.7729em;top:32.7191em;\"><span class=\"stl_269 stl_12 stl_130\">112,867 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.9804em;top:32.7191em;\"><span class=\"stl_269 stl_12 stl_727\">11,154 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.0954em;top:32.7191em;\"><span class=\"stl_269 stl_12 stl_632\">1,149 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1779em;top:32.7191em;\"><span class=\"stl_269 stl_12 stl_583\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7385em;top:34.0903em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2104em;top:34.0847em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9879em;top:34.0847em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7391em;top:35.3922em;\"><span class=\"stl_269 stl_12 stl_89\" style=\"word-spacing:-0.0383em;\">Amounts included in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7391em;top:36.3728em;\"><span class=\"stl_277 stl_15 stl_284\" style=\"word-spacing:-0.0282em;\">Interest expense leases \u00a0</span></div><div class=\"stl_01\" style=\"left:65.136em;top:36.3728em;\"><span class=\"stl_277 stl_15 stl_174\">4,737 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9654em;top:36.3728em;\"><span class=\"stl_277 stl_15 stl_680\">3,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7398em;top:37.3478em;\"><span class=\"stl_277 stl_15 stl_181\" style=\"word-spacing:-0.0271em;\">Depreciation recognized on right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7691em;top:37.3478em;\"><span class=\"stl_277 stl_15 stl_140\">44,099 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6373em;top:37.3478em;\"><span class=\"stl_277 stl_15 stl_566\">37,081 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7398em;top:38.3228em;\"><span class=\"stl_277 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">Impairment recognized on right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8179em;top:38.3228em;\"><span class=\"stl_277 stl_15 stl_357\">26,431 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1779em;top:38.3228em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8698": {
   "value": "<div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Intangible assets are measured at historic cost less \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">accumulated amortization and impairment losses. Cost \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0296em;\">of acquired product rights are measured at cash consid- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">eration and present value of any deferred payments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0333em;\">for those rights. Furthermore costs of acquired product \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0357em;\">rights include transaction costs that are directly attrib- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.2043em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">utable to the acqusition. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.8712em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Internal development projects that meet the require- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.7043em;\"><span class=\"stl_353 stl_15 stl_190\" 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:19.5374em;\"><span class=\"stl_353 stl_15 stl_183\" 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:21.2043em;\"><span class=\"stl_353 stl_15 stl_274\" 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:22.0374em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">the useful economic lives of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.7043em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">The useful lives of acquired product rights are esti- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:24.5374em;\"><span class=\"stl_353 stl_15 stl_61\" style=\"word-spacing:-0.024em;\">mated to be 10-20 years and software is estimated to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.3706em;\"><span class=\"stl_353 stl_15 stl_243\" style=\"word-spacing:-0.026em;\">be 3-5 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.0374em;\"><span class=\"stl_353 stl_15 stl_433\" 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:27.8706em;\"><span class=\"stl_353 stl_15 stl_96\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8699": {
   "value": "<div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Intangible assets are measured at historic cost less \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">accumulated amortization and impairment losses. Cost \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0296em;\">of acquired product rights are measured at cash consid- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">eration and present value of any deferred payments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0333em;\">for those rights. Furthermore costs of acquired product \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0357em;\">rights include transaction costs that are directly attrib- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.2043em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">utable to the acqusition. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.8712em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Internal development projects that meet the require- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.7043em;\"><span class=\"stl_353 stl_15 stl_190\" 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:19.5374em;\"><span class=\"stl_353 stl_15 stl_183\" 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:21.2043em;\"><span class=\"stl_353 stl_15 stl_274\" 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:22.0374em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">the useful economic lives of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.7043em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">The useful lives of acquired product rights are esti- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:24.5374em;\"><span class=\"stl_353 stl_15 stl_61\" style=\"word-spacing:-0.024em;\">mated to be 10-20 years and software is estimated to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.3706em;\"><span class=\"stl_353 stl_15 stl_243\" style=\"word-spacing:-0.026em;\">be 3-5 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.0374em;\"><span class=\"stl_353 stl_15 stl_433\" 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:27.8706em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">part of cost of goods sold under production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:11.1999em;\"><span class=\"stl_511 stl_512 stl_39\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.0368em;\"><span class=\"stl_353 stl_15 stl_164\" style=\"word-spacing:-0.0364em;\">The carrying amounts of intangible assets carried at \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.8699em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">cost or amortized cost are tested at least annually to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:13.7031em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0279em;\">determine whether there are indications of any impair- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:14.5362em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">ment in excess of that expressed in normal amortiza- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:15.3693em;\"><span class=\"stl_353 stl_15 stl_275\" 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:21.7221em;top:16.2024em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0335em;\">recoverable amount, which is the higher of its fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:17.0356em;\"><span class=\"stl_353 stl_15 stl_285\" 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:21.7221em;top:17.8687em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0333em;\">on intangible assets are recognized under the same \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:18.7018em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">line item as amortization of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:20.3687em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">For development projects in progress, the recoverable \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:21.2018em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">amount is assessed annually, regardless of whether any \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:22.0349em;\"><span class=\"stl_353 stl_15 stl_278\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8701": {
   "value": "<div class=\"stl_01\" style=\"left:5.9858em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Intangible assets are measured at historic cost less \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">accumulated amortization and impairment losses. Cost \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0296em;\">of acquired product rights are measured at cash consid- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">eration and present value of any deferred payments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0333em;\">for those rights. Furthermore costs of acquired product \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0357em;\">rights include transaction costs that are directly attrib- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.2043em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">utable to the acqusition. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.8712em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Internal development projects that meet the require- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.7043em;\"><span class=\"stl_353 stl_15 stl_190\" 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:19.5374em;\"><span class=\"stl_353 stl_15 stl_183\" 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:21.2043em;\"><span class=\"stl_353 stl_15 stl_274\" 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:22.0374em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">the useful economic lives of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.7043em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">The useful lives of acquired product rights are esti- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:24.5374em;\"><span class=\"stl_353 stl_15 stl_61\" style=\"word-spacing:-0.024em;\">mated to be 10-20 years and software is estimated to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.3706em;\"><span class=\"stl_353 stl_15 stl_243\" style=\"word-spacing:-0.026em;\">be 3-5 years. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.0374em;\"><span class=\"stl_353 stl_15 stl_433\" 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:27.8706em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">part of cost of goods sold under production costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:11.1999em;\"><span class=\"stl_511 stl_512 stl_39\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.0368em;\"><span class=\"stl_353 stl_15 stl_164\" style=\"word-spacing:-0.0364em;\">The carrying amounts of intangible assets carried at \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:12.8699em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">cost or amortized cost are tested at least annually to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:13.7031em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0279em;\">determine whether there are indications of any impair- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:14.5362em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">ment in excess of that expressed in normal amortiza- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:15.3693em;\"><span class=\"stl_353 stl_15 stl_275\" 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:21.7221em;top:16.2024em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0335em;\">recoverable amount, which is the higher of its fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:17.0356em;\"><span class=\"stl_353 stl_15 stl_285\" 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:21.7221em;top:17.8687em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0333em;\">on intangible assets are recognized under the same \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:18.7018em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">line item as amortization of the assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:20.3687em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">For development projects in progress, the recoverable \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:21.2018em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">amount is assessed annually, regardless of whether any \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7221em;top:22.0349em;\"><span class=\"stl_353 stl_15 stl_278\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_21\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_391\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">impairment losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_353 stl_15 stl_433\" 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_353 stl_15 stl_75\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_91\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_67\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5374em;\"><span class=\"stl_353 stl_15 stl_85\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_73\" 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_353 stl_15 stl_195\">Buildings \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9169em;top:11.2031em;\"><span class=\"stl_353 stl_15 stl_535\" 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_353 stl_15 stl_283\">Installations \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2975em;top:12.0362em;\"><span class=\"stl_353 stl_15 stl_690\" 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_353 stl_15 stl_288\" style=\"word-spacing:-0.0281em;\">Leasehold improvements \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0544em;top:12.8693em;\"><span class=\"stl_353 stl_15 stl_31\" style=\"word-spacing:-0.021em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7024em;\"><span class=\"stl_353 stl_15 stl_378\" 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_353 stl_15 stl_140\" 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_353 stl_15 stl_93\" style=\"word-spacing:-0.0389em;\">Laboratory equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2613em;top:14.5356em;\"><span class=\"stl_353 stl_15 stl_402\" 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_353 stl_15 stl_391\" style=\"word-spacing:-0.0368em;\">Production equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2988em;top:15.3687em;\"><span class=\"stl_353 stl_15 stl_690\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_62\" style=\"word-spacing:-0.0226em;\">each financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3649em;\"><span class=\"stl_511 stl_512 stl_39\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.2018em;\"><span class=\"stl_353 stl_15 stl_458\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_16\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_288\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_189\">of-use-assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7049em;\"><span class=\"stl_353 stl_15 stl_275\" 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:19.5381em;\"><span class=\"stl_353 stl_15 stl_183\" 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:20.3712em;\"><span class=\"stl_353 stl_15 stl_37\" 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:21.2043em;\"><span class=\"stl_353 stl_15 stl_61\">lease. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8712em;\"><span class=\"stl_353 stl_15 stl_179\" 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:23.7043em;\"><span class=\"stl_353 stl_15 stl_278\" 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:24.5374em;\"><span class=\"stl_353 stl_15 stl_288\" 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:25.3706em;\"><span class=\"stl_353 stl_15 stl_194\" 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:26.2037em;\"><span class=\"stl_353 stl_15 stl_47\" 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:27.0368em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">ably certain. When determining the discount rates \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8699em;\"><span class=\"stl_353 stl_15 stl_37\" 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:28.7031em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0333em;\">payments, an incremental country specific borrowing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5362em;\"><span class=\"stl_353 stl_15 stl_25\" 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:30.3693em;\"><span class=\"stl_353 stl_15 stl_62\" style=\"word-spacing:-0.0229em;\">Group\u2019s credit margin, ranging from 4.8% to 6.93%. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2024em;\"><span class=\"stl_353 stl_15 stl_41\" 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:32.0356em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0321em;\">assets with reasonable similar characteristics. Initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.8687em;\"><span class=\"stl_353 stl_15 stl_190\" 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:33.7018em;\"><span class=\"stl_353 stl_15 stl_37\" 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:34.5349em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">separated from lease components. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2018em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">A maturity analysis for lease payments is described \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0349em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">in note 22. Impact from change in lease terms, lease \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8681em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">payments or modification of the lease contract is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7012em;z-index:2792;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0289em;\">further described in note 27. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3681em;\"><span class=\"stl_353 stl_15 stl_53\" 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:16.2012em;\"><span class=\"stl_353 stl_15 stl_146\" 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:17.0343em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">asset. The depreciation starts at the commencement \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8674em;\"><span class=\"stl_353 stl_15 stl_54\" 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:18.7006em;\"><span class=\"stl_353 stl_15 stl_37\" 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:19.5337em;\"><span class=\"stl_353 stl_15 stl_278\" 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:20.3668em;\"><span class=\"stl_353 stl_15 stl_62\" style=\"word-spacing:-0.023em;\">in note 15. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8747": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_366\" style=\"word-spacing:0.0075em;\">Note 16 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_124\" style=\"word-spacing:0.0096em;\">Property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:38.984em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3302em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_17\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:40.4433em;top:12.085em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0376em;\">fixtures and \u00a0</span></div><div class=\"stl_01\" style=\"left:39.9058em;top:12.7519em;\"><span class=\"stl_269 stl_12 stl_22\" style=\"word-spacing:-0.0375em;\">fittings, other \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1427em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_87\" style=\"word-spacing:-0.0428em;\">Land and \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5702em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_24\">Leasehold \u00a0</span></div><div class=\"stl_01\" style=\"left:36.4583em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0343em;\">Plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1827em;top:13.4188em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0367em;\">plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:44.924em;top:13.4188em;\"><span class=\"stl_269 stl_12 stl_495\" style=\"word-spacing:-0.0413em;\">Assets under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:14.0907em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0671em;top:14.085em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:0.9976em;\">buildings improvement \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1402em;top:14.085em;\"><span class=\"stl_269 stl_12 stl_187\">machinery \u00a0</span></div><div class=\"stl_01\" style=\"left:40.7615em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_13\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:45.0658em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_13\">construction \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9802em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_279\" style=\"word-spacing:-0.0202em;\">Costs as of January 1, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1265em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_420\">1,268,062 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.7383em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_687\">47,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0671em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_291\">646,707 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8327em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_123\">889,215 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.514em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_326\">206,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8752em;top:15.7525em;\"><span class=\"stl_277 stl_15 stl_411\">3,057,741 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5502em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2746em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.7452em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_150\">1,498 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.5252em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_716\">5,189 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8246em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_234\">72,825 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.634em;top:16.7275em;\"><span class=\"stl_277 stl_15 stl_715\">79,512 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0696em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_717\">11,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0508em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_320\">1,516 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4552em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_327\">71,763 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1171em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_218\">34,526 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4102em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_697\">(118,932) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1721em;top:17.7025em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">Transfer from intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5502em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2746em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.814em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_676\">3,149 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.7233em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.4477em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.9871em;top:18.6775em;\"><span class=\"stl_277 stl_15 stl_676\">3,149 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5496em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:32.8571em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_718\">(1,271) \u00a0</span></div><div class=\"stl_01\" style=\"left:37.5802em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_327\">(2,137) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0077em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_273\">(11,243) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4796em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_123\">(538) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4827em;top:19.6525em;\"><span class=\"stl_277 stl_15 stl_665\">(15,189) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.1583em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_666\">(5,144) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5008em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_361\">104 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.544em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_149\">(1,305) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3115em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_679\">(1,415) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.5221em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_649\">(416) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8096em;top:20.6275em;\"><span class=\"stl_277 stl_15 stl_410\">(8,176) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_219\" style=\"word-spacing:-0.0154em;\">Cost as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9508em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_525\">1,274,045 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5708em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_108\">47,385 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9708em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_244\">719,675 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6358em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_322\">916,272 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3871em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_118\">159,660 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6965em;top:21.5969em;\"><span class=\"stl_269 stl_12 stl_719\">3,117,037 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7233em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_28\" style=\"word-spacing:-0.0265em;\">Depreciation and impairment losses as of January 1,2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6377em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_156\">281,049 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6946em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_126\">21,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0702em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_175\">234,033 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.904em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_659\">193,155 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4458em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2233em;top:23.1338em;\"><span class=\"stl_277 stl_15 stl_503\">730,226 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_54\">Depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0058em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_703\">54,136 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0527em;top:24.1088em;z-index:900;\"><span class=\"stl_277 stl_15 stl_426\">7</span><span class=\"stl_277 stl_15 stl_29\">,</span><span class=\"stl_277 stl_15 stl_101\">394 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4577em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_566\">67,637 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1196em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_298\">92,301 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4465em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2302em;top:24.1088em;\"><span class=\"stl_277 stl_15 stl_389\">221,468 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2733em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.739em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_59\">1,529 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.284em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_408\">(1,529) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4465em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:53.1708em;top:25.0838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">Transfer from intangible assets \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2733em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.7458em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_115\">1,231 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.7221em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.4465em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.919em;top:26.0588em;\"><span class=\"stl_277 stl_15 stl_137\">1,231 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.724em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">Impairment losses \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5483em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2727em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.9971em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.1183em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_432\">12,044 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4465em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.5677em;top:27.0338em;\"><span class=\"stl_277 stl_15 stl_432\">12,044 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7246em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.549em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.2871em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_205\">(337) \u00a0</span></div><div class=\"stl_01\" style=\"left:37.559em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_630\">(2,019) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3434em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_720\">(5,198) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4471em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.7415em;top:28.0088em;\"><span class=\"stl_277 stl_15 stl_620\">(7,554) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.5965em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_367\">(146) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8215em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_61\">23 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5452em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_243\">54 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.724em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_314\">(877) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4477em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.1946em;top:28.9838em;\"><span class=\"stl_277 stl_15 stl_143\">(946) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_73\" style=\"word-spacing:-0.0275em;\">Depreciation and impairment losses as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4896em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_120\">335,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5671em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_125\">29,069 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8933em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_607\">302,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.639em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_232\">289,896 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4402em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.064em;top:29.9532em;\"><span class=\"stl_269 stl_12 stl_699\">956,469 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7252em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_35\" style=\"word-spacing:-0.0272em;\">Carrying amount as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.4827em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_124\">939,006 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5683em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_155\">18,316 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.0065em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_591\">417,210 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6602em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_137\">626,376 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.389em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_118\">159,660 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5708em;top:31.4844em;\"><span class=\"stl_269 stl_12 stl_651\">2,160,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:33.0157em;\"><span class=\"stl_269 stl_12 stl_21\" style=\"word-spacing:-0.0339em;\">Geographical split of property, plant and equipment \u2013 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:33.9963em;\"><span class=\"stl_277 stl_15 stl_334\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7827em;top:33.9963em;\"><span class=\"stl_277 stl_15 stl_133\">1,509,265 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:34.9713em;\"><span class=\"stl_277 stl_15 stl_92\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6458em;top:34.9713em;\"><span class=\"stl_277 stl_15 stl_667\">47,818 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:35.9463em;\"><span class=\"stl_277 stl_15 stl_190\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5771em;top:35.9463em;\"><span class=\"stl_277 stl_15 stl_231\">18,283 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:36.9213em;\"><span class=\"stl_277 stl_15 stl_181\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2446em;top:36.9213em;\"><span class=\"stl_277 stl_15 stl_484\">585,202 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7258em;top:37.8907em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0328em;\">Total property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:50.5708em;top:37.8907em;\"><span class=\"stl_269 stl_12 stl_651\">2,160,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:10.2232em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">Mortgage loans of DKK 15.1 million are secured by \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:11.0563em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">mortgages totaling DKK 50.0 million on the property \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:11.8894em;\"><span class=\"stl_353 stl_15 stl_180\" style=\"word-spacing:-0.0239em;\">B\u00f8geskovvej 9/Hejreskovvej 10A, Kvistgaard. In addi- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:12.7225em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">tion, as of December 31, 2024, mortgage deeds for a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:13.5557em;\"><span class=\"stl_353 stl_15 stl_283\" 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:55.7496em;top:14.3888em;\"><span class=\"stl_353 stl_15 stl_22\" style=\"word-spacing:-0.0375em;\">amount of assets mortgaged in security of mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:15.2219em;\"><span class=\"stl_353 stl_15 stl_422\" style=\"word-spacing:-0.0355em;\">loans is DKK 1,356.2 million (land and buildings: DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:16.055em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0249em;\">939.0 million; plant and machinery: DKK 417.2 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.9828em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3303em;top:11.4182em;\"><span class=\"stl_269 stl_12 stl_17\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:40.4434em;top:12.085em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0376em;\">fixtures and \u00a0</span></div><div class=\"stl_01\" style=\"left:39.9059em;top:12.7519em;\"><span class=\"stl_269 stl_12 stl_22\" style=\"word-spacing:-0.0375em;\">fittings, other \u00a0</span></div><div class=\"stl_01\" style=\"left:27.1428em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_87\" style=\"word-spacing:-0.0428em;\">Land and \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5703em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_24\">Leasehold \u00a0</span></div><div class=\"stl_01\" style=\"left:36.4584em;top:13.4182em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0343em;\">Plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1828em;top:13.4188em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0367em;\">plant and \u00a0</span></div><div class=\"stl_01\" style=\"left:44.924em;top:13.4188em;\"><span class=\"stl_269 stl_12 stl_495\" style=\"word-spacing:-0.0413em;\">Assets under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:14.0907em;\"><span class=\"stl_277 stl_15 stl_377\" style=\"word-spacing:-0.0396em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0672em;top:14.085em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:0.9976em;\">buildings improvement \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1403em;top:14.085em;\"><span class=\"stl_269 stl_12 stl_187\">machinery \u00a0</span></div><div class=\"stl_01\" style=\"left:40.7615em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_13\">equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:45.0659em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_13\">construction \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9803em;top:14.0857em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_61\" style=\"word-spacing:-0.024em;\">Costs as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5984em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_445\">858,543 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6684em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_218\">40,237 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.1003em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_106\">514,369 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8084em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_492\">626,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5978em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_585\">196,130 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7759em;top:15.7757em;\"><span class=\"stl_277 stl_15 stl_324\">2,235,315 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:27.964em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_492\">13,387 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9884em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_52\">2,838 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.3872em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_211\">20,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.424em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_181\">8,864 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8278em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_336\">96,836 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2497em;top:16.7975em;\"><span class=\"stl_277 stl_15 stl_101\">142,525 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_313\">Transfer \u00a0</span></div><div class=\"stl_01\" style=\"left:28.0203em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_721\">79,712 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.9797em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_43\">2,688 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4103em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_361\">43,983 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1603em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_662\">21,797 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.404em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_453\">(148,180) \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1728em;top:17.8194em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6953em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_687\">300,131 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0047em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_57\">1,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.384em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_447\">86,336 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.7822em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_208\">234,826 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.8559em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_268\">58,926 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2547em;top:18.8413em;\"><span class=\"stl_277 stl_15 stl_266\">681,453 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:28.6178em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_722\">(178) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2747em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.339em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_399\">(27,101) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.9953em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_598\">(11,603) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4484em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.3553em;top:19.8632em;\"><span class=\"stl_277 stl_15 stl_298\">(38,882) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9603em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_361\">16,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8315em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_361\">39 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7247em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_389\">8,520 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4828em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_572\">9,295 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1703em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_402\">3,009 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6278em;top:20.885em;\"><span class=\"stl_277 stl_15 stl_723\">37,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7265em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_724\" style=\"word-spacing:-0.0159em;\">Cost as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9172em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_351\">1,268,062 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5922em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_673\">47,036 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9034em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_383\">646,707 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6728em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_138\">889,215 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.3547em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_429\">206,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6553em;top:21.9013em;\"><span class=\"stl_269 stl_12 stl_356\">3,057,741 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_37\" 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:23.5326em;\"><span class=\"stl_277 stl_15 stl_409\">228,405 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6947em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_126\">15,472 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.1053em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_139\">192,624 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8384em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_630\">114,841 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2665em;top:23.5326em;\"><span class=\"stl_277 stl_15 stl_143\">551,342 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_54\">Depreciation \u00a0</span></div><div class=\"stl_01\" style=\"left:27.9915em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_400\">51,424 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0109em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_101\">6,491 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.4009em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_232\">62,552 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1672em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_117\">85,511 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.259em;top:24.5544em;\"><span class=\"stl_277 stl_15 stl_157\">205,978 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5503em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2747em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:37.1628em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_607\">(25,277) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3122em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_398\">(8,745) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4478em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.3759em;top:25.5763em;\"><span class=\"stl_277 stl_15 stl_346\">(34,022) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.2853em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_169\">1,220 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.834em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_118\">26 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7947em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_725\">4,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.4484em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_389\">1,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4484em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.9165em;top:26.5982em;\"><span class=\"stl_277 stl_15 stl_161\">6,928 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7259em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_47\" 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:27.6144em;\"><span class=\"stl_269 stl_12 stl_442\">281,049 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5615em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_109\">21,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9072em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_432\">234,033 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.734em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_438\">193,155 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4403em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.0678em;top:27.6144em;\"><span class=\"stl_269 stl_12 stl_211\">730,226 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7253em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_73\" style=\"word-spacing:-0.0274em;\">Carrying amount as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.5228em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_567\">987,013 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5359em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_326\">25,047 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.969em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_657\">412,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6134em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_445\">696,060 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.354em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_429\">206,721 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6065em;top:29.24em;\"><span class=\"stl_269 stl_12 stl_650\">2,327,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:30.8657em;\"><span class=\"stl_269 stl_12 stl_21\" 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:31.8932em;\"><span class=\"stl_277 stl_15 stl_334\">Denmark \u00a0</span></div><div class=\"stl_01\" style=\"left:50.839em;top:31.8932em;\"><span class=\"stl_277 stl_15 stl_496\">1,615,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:32.915em;\"><span class=\"stl_277 stl_15 stl_92\">Germany \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6134em;top:32.915em;\"><span class=\"stl_277 stl_15 stl_674\">52,711 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:33.9369em;\"><span class=\"stl_277 stl_15 stl_190\">USA \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5528em;top:33.9369em;\"><span class=\"stl_277 stl_15 stl_216\">40,006 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:34.9588em;\"><span class=\"stl_277 stl_15 stl_32\">Switzerland \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3072em;top:34.9588em;\"><span class=\"stl_277 stl_15 stl_689\">619,587 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7247em;top:35.975em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0328em;\">Total property, plant and equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:50.6084em;top:35.975em;\"><span class=\"stl_269 stl_12 stl_408\">2,327,517 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:10.2189em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.0269em;\">Mortgage loans of DKK 17.0 million are secured by \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.052em;\"><span class=\"stl_353 stl_15 stl_289\" 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:11.8852em;\"><span class=\"stl_353 stl_15 stl_180\" 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:12.7183em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">tion, as of December 31, 2023, mortgage deeds for a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:13.5514em;\"><span class=\"stl_353 stl_15 stl_283\" 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:14.3845em;\"><span class=\"stl_353 stl_15 stl_94\" 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:15.2177em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">loans is DKK 1,399.7 million (land and buildings: DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:16.0508em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0252em;\">987.0 million; plant and machinery: DKK 412.7 million). \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8749": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_21\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_391\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">impairment losses. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_353 stl_15 stl_433\" 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_353 stl_15 stl_75\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_21\" 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_353 stl_15 stl_91\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_67\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5374em;\"><span class=\"stl_353 stl_15 stl_85\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_73\" 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_353 stl_15 stl_195\">Buildings \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9169em;top:11.2031em;\"><span class=\"stl_353 stl_15 stl_535\" 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_353 stl_15 stl_283\">Installations \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2975em;top:12.0362em;\"><span class=\"stl_353 stl_15 stl_690\" 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_353 stl_15 stl_288\" style=\"word-spacing:-0.0281em;\">Leasehold improvements \u00a0</span></div><div class=\"stl_01\" style=\"left:33.0544em;top:12.8693em;\"><span class=\"stl_353 stl_15 stl_31\" style=\"word-spacing:-0.021em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7024em;\"><span class=\"stl_353 stl_15 stl_378\" 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_353 stl_15 stl_140\" 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_353 stl_15 stl_93\" style=\"word-spacing:-0.0389em;\">Laboratory equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2613em;top:14.5356em;\"><span class=\"stl_353 stl_15 stl_402\" 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_353 stl_15 stl_391\" style=\"word-spacing:-0.0368em;\">Production equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2988em;top:15.3687em;\"><span class=\"stl_353 stl_15 stl_690\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_62\" style=\"word-spacing:-0.0226em;\">each financial year. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.3649em;\"><span class=\"stl_511 stl_512 stl_39\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.2018em;\"><span class=\"stl_353 stl_15 stl_458\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_16\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8770": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_321\" style=\"word-spacing:0.0015em;\">Note 17 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_148\">Right-of-use-assets \u00a0</span></div><div class=\"stl_01\" style=\"left:62.606em;top:9.7747em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.721em;top:10.7378em;\"><span class=\"stl_269 stl_12 stl_61\">Rent \u00a0</span></div><div class=\"stl_01\" style=\"left:61.9398em;top:10.7378em;\"><span class=\"stl_269 stl_12 stl_95\">Car \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:11.4103em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0548em;top:11.4047em;\"><span class=\"stl_269 stl_12 stl_348\">facility \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7335em;top:11.4047em;\"><span class=\"stl_269 stl_12 stl_391\" style=\"word-spacing:0.7661em;\">leasing Equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9873em;top:11.4047em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:12.7178em;\"><span class=\"stl_277 stl_15 stl_286\" style=\"word-spacing:-0.0199em;\">Right-of-use assets as of January 1, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.9391em;top:12.7178em;\"><span class=\"stl_277 stl_15 stl_118\">112,867 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1316em;top:12.7178em;\"><span class=\"stl_277 stl_15 stl_586\">11,154 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2248em;top:12.7178em;\"><span class=\"stl_277 stl_15 stl_726\">1,149 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3491em;top:12.7178em;\"><span class=\"stl_277 stl_15 stl_664\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:13.6928em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:57.5835em;top:13.6928em;\"><span class=\"stl_277 stl_15 stl_161\">1,307 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.3829em;top:13.6928em;\"><span class=\"stl_277 stl_15 stl_408\">4,415 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6366em;top:13.6928em;\"><span class=\"stl_277 stl_15 stl_152\">532 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8922em;top:13.6928em;\"><span class=\"stl_277 stl_15 stl_52\">6,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:14.6678em;\"><span class=\"stl_277 stl_15 stl_30\">Modifications \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2491em;top:14.6678em;\"><span class=\"stl_277 stl_15 stl_268\">20,441 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.976em;top:14.6678em;\"><span class=\"stl_277 stl_15 stl_141\">(56) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.7791em;top:14.6678em;\"><span class=\"stl_277 stl_15 stl_356\">(31) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5816em;top:14.6678em;\"><span class=\"stl_277 stl_15 stl_542\">20,354 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:15.6428em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0622em;top:15.6428em;\"><span class=\"stl_277 stl_15 stl_105\">(15,488) \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1735em;top:15.6428em;\"><span class=\"stl_277 stl_15 stl_138\">(4,373) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4004em;top:15.6428em;\"><span class=\"stl_277 stl_15 stl_389\">(307) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4479em;top:15.6428em;\"><span class=\"stl_277 stl_15 stl_19\">(20,168) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:16.6178em;\"><span class=\"stl_277 stl_15 stl_274\">Depreciations \u00a0</span></div><div class=\"stl_01\" style=\"left:57.016em;top:16.6178em;\"><span class=\"stl_277 stl_15 stl_295\">(36,665) \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1485em;top:16.6178em;\"><span class=\"stl_277 stl_15 stl_266\">(6,805) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4454em;top:16.6178em;\"><span class=\"stl_277 stl_15 stl_678\">(629) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3741em;top:16.6178em;\"><span class=\"stl_277 stl_15 stl_103\">(44,099) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:17.5928em;\"><span class=\"stl_277 stl_15 stl_473\">Impairment \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0716em;top:17.5928em;\"><span class=\"stl_277 stl_15 stl_116\">(26,431) \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6197em;top:17.5928em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:66.3991em;top:17.5928em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.4104em;top:17.5928em;\"><span class=\"stl_277 stl_15 stl_116\">(26,431) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:18.5678em;\"><span class=\"stl_277 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">Reversal depreciations \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2429em;top:18.5678em;\"><span class=\"stl_277 stl_15 stl_542\">15,488 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.376em;top:18.5678em;\"><span class=\"stl_277 stl_15 stl_158\">3,813 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6229em;top:18.5678em;\"><span class=\"stl_277 stl_15 stl_58\">307 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6172em;top:18.5678em;\"><span class=\"stl_277 stl_15 stl_300\">19,608 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:19.5428em;\"><span class=\"stl_277 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6491em;top:19.5428em;\"><span class=\"stl_277 stl_15 stl_524\">1,177 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.1672em;top:19.5428em;\"><span class=\"stl_277 stl_15 stl_61\">34 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3991em;top:19.5428em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.9591em;top:19.5428em;\"><span class=\"stl_277 stl_15 stl_598\">1,211 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7397em;top:20.5122em;\"><span class=\"stl_269 stl_12 stl_56\" style=\"word-spacing:-0.0243em;\">Right-of-use assets as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0841em;top:20.5122em;\"><span class=\"stl_269 stl_12 stl_215\">72,696 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.296em;top:20.5122em;\"><span class=\"stl_269 stl_12 stl_404\">8,182 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.051em;top:20.5122em;\"><span class=\"stl_269 stl_12 stl_311\">1,021 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4379em;top:20.5122em;\"><span class=\"stl_269 stl_12 stl_545\">81,899 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6041em;top:21.8778em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7204em;top:22.841em;\"><span class=\"stl_269 stl_12 stl_61\">Rent \u00a0</span></div><div class=\"stl_01\" style=\"left:61.9391em;top:22.841em;\"><span class=\"stl_269 stl_12 stl_95\">Car \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7397em;top:23.5135em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0541em;top:23.5078em;\"><span class=\"stl_269 stl_12 stl_348\">facility \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7329em;top:23.5078em;\"><span class=\"stl_269 stl_12 stl_391\" style=\"word-spacing:0.7661em;\">leasing Equipment \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9866em;top:23.5078em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7397em;top:24.821em;\"><span class=\"stl_277 stl_15 stl_46\" style=\"word-spacing:-0.022em;\">Right-of-use assets as of January 1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2191em;top:24.821em;\"><span class=\"stl_277 stl_15 stl_336\">58,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.3491em;top:24.821em;\"><span class=\"stl_277 stl_15 stl_418\">8,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6616em;top:24.821em;\"><span class=\"stl_277 stl_15 stl_428\">574 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6398em;top:24.821em;\"><span class=\"stl_277 stl_15 stl_715\">67,433 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7404em;top:25.796em;\"><span class=\"stl_277 stl_15 stl_25\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:57.5829em;top:25.796em;\"><span class=\"stl_277 stl_15 stl_163\">2,551 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.3854em;top:25.796em;\"><span class=\"stl_277 stl_15 stl_311\">8,767 \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3991em;top:25.796em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.6491em;top:25.796em;\"><span class=\"stl_277 stl_15 stl_459\">11,318 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7397em;top:26.771em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2835em;top:26.771em;\"><span class=\"stl_277 stl_15 stl_414\">41,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.6191em;top:26.771em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:66.3985em;top:26.771em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.6216em;top:26.771em;\"><span class=\"stl_277 stl_15 stl_414\">41,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7397em;top:27.7978em;\"><span class=\"stl_277 stl_15 stl_30\">Modifications \u00a0</span></div><div class=\"stl_01\" style=\"left:57.2841em;top:27.7978em;\"><span class=\"stl_277 stl_15 stl_374\">47,096 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.8641em;top:27.7978em;\"><span class=\"stl_277 stl_15 stl_335\">210 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.616em;top:27.7978em;\"><span class=\"stl_277 stl_15 stl_427\">993 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5422em;top:27.7978em;\"><span class=\"stl_277 stl_15 stl_65\">48,299 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7391em;top:28.8247em;\"><span class=\"stl_277 stl_15 stl_194\">Disposals \u00a0</span></div><div class=\"stl_01\" style=\"left:57.4754em;top:28.8247em;\"><span class=\"stl_277 stl_15 stl_675\">(7,109) \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1641em;top:28.8247em;\"><span class=\"stl_277 stl_15 stl_149\">(2,216) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.426em;top:28.8247em;\"><span class=\"stl_277 stl_15 stl_122\">(409) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7485em;top:28.8247em;\"><span class=\"stl_277 stl_15 stl_620\">(9,734) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7385em;top:29.7997em;\"><span class=\"stl_277 stl_15 stl_274\">Depreciations \u00a0</span></div><div class=\"stl_01\" style=\"left:57.0354em;top:29.7997em;\"><span class=\"stl_277 stl_15 stl_304\">(30,862) \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1466em;top:29.7997em;\"><span class=\"stl_277 stl_15 stl_381\">(5,800) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4797em;top:29.7997em;\"><span class=\"stl_277 stl_15 stl_659\">(419) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4498em;top:29.7997em;\"><span class=\"stl_277 stl_15 stl_686\">(37,081) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7385em;top:30.7747em;\"><span class=\"stl_277 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">Reversal depreciations \u00a0</span></div><div class=\"stl_01\" style=\"left:58.0691em;top:30.7747em;\"><span class=\"stl_277 stl_15 stl_156\">675 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.3729em;top:30.7747em;\"><span class=\"stl_277 stl_15 stl_171\">1,798 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.601em;top:30.7747em;\"><span class=\"stl_277 stl_15 stl_21\">409 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8904em;top:30.7747em;\"><span class=\"stl_277 stl_15 stl_52\">2,882 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7385em;top:31.7497em;\"><span class=\"stl_277 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">Exchange rate adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:58.0647em;top:31.7497em;\"><span class=\"stl_277 stl_15 stl_101\">106 \u00a0</span></div><div class=\"stl_01\" style=\"left:62.5029em;top:31.7497em;\"><span class=\"stl_277 stl_15 stl_27\">3</span></div><div class=\"stl_01\" style=\"left:66.2822em;top:31.7497em;\"><span class=\"stl_277 stl_15 stl_27\">1</span></div><div class=\"stl_01\" style=\"left:69.4441em;top:31.7497em;\"><span class=\"stl_277 stl_15 stl_417\">110 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7385em;top:32.7191em;\"><span class=\"stl_269 stl_12 stl_179\" style=\"word-spacing:-0.0246em;\">Right-of-use assets as of December 31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.7729em;top:32.7191em;\"><span class=\"stl_269 stl_12 stl_130\">112,867 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.9804em;top:32.7191em;\"><span class=\"stl_269 stl_12 stl_727\">11,154 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.0954em;top:32.7191em;\"><span class=\"stl_269 stl_12 stl_632\">1,149 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1779em;top:32.7191em;\"><span class=\"stl_269 stl_12 stl_583\">125,170 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7385em;top:34.0903em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2104em;top:34.0847em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9879em;top:34.0847em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7391em;top:35.3922em;\"><span class=\"stl_269 stl_12 stl_89\" style=\"word-spacing:-0.0383em;\">Amounts included in the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7391em;top:36.3728em;\"><span class=\"stl_277 stl_15 stl_284\" style=\"word-spacing:-0.0282em;\">Interest expense leases \u00a0</span></div><div class=\"stl_01\" style=\"left:65.136em;top:36.3728em;\"><span class=\"stl_277 stl_15 stl_174\">4,737 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9654em;top:36.3728em;\"><span class=\"stl_277 stl_15 stl_680\">3,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7398em;top:37.3478em;\"><span class=\"stl_277 stl_15 stl_181\" style=\"word-spacing:-0.0271em;\">Depreciation recognized on right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7691em;top:37.3478em;\"><span class=\"stl_277 stl_15 stl_140\">44,099 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6373em;top:37.3478em;\"><span class=\"stl_277 stl_15 stl_566\">37,081 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7398em;top:38.3228em;\"><span class=\"stl_277 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">Impairment recognized on right-of-use assets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8179em;top:38.3228em;\"><span class=\"stl_277 stl_15 stl_357\">26,431 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1779em;top:38.3228em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_418\" style=\"word-spacing:-0.003em;\">Note 27 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_125\" style=\"word-spacing:0.0146em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.4969em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2069em;top:24.4912em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9844em;top:24.4912em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:26.1106em;\"><span class=\"stl_277 stl_15 stl_91\">Non-current \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7944em;top:26.1106em;\"><span class=\"stl_277 stl_15 stl_350\">73,653 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5894em;top:26.1106em;\"><span class=\"stl_277 stl_15 stl_163\">83,621 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:27.0856em;\"><span class=\"stl_277 stl_15 stl_56\">Current \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8457em;top:27.0856em;\"><span class=\"stl_277 stl_15 stl_672\">39,470 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5675em;top:27.0856em;\"><span class=\"stl_277 stl_15 stl_349\">44,633 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:28.055em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0349em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:30.41em;top:28.055em;\"><span class=\"stl_269 stl_12 stl_421\">113,123 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0788em;top:28.055em;\"><span class=\"stl_269 stl_12 stl_532\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.0457em;top:30.3634em;\"><span class=\"stl_269 stl_12 stl_550\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:23.075em;top:30.3634em;\"><span class=\"stl_269 stl_12 stl_74\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9588em;top:30.3634em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.0771em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4175em;top:31.0715em;\"><span class=\"stl_269 stl_12 stl_42\" style=\"word-spacing:-0.0233em;\">1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3707em;top:31.0715em;\"><span class=\"stl_269 stl_12 stl_193\" style=\"word-spacing:-0.0304em;\">1 and 5 year \u00a0</span></div><div class=\"stl_01\" style=\"left:29.5763em;top:31.0715em;\"><span class=\"stl_269 stl_12 stl_192\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9707em;top:31.0715em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:32.6852em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:33.6659em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.44em;top:33.6659em;\"><span class=\"stl_277 stl_15 stl_672\">39,470 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1132em;top:33.6659em;\"><span class=\"stl_277 stl_15 stl_350\">73,653 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4375em;top:33.6659em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.3488em;top:33.6659em;\"><span class=\"stl_277 stl_15 stl_728\">113,123 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:34.6352em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:20.2944em;top:34.6352em;\"><span class=\"stl_269 stl_12 stl_575\">39,470 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.9763em;top:34.6352em;\"><span class=\"stl_269 stl_12 stl_57\">73,653 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4307em;top:34.6352em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.1782em;top:34.6352em;\"><span class=\"stl_269 stl_12 stl_421\">113,123 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:36.1665em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:37.1471em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.3825em;top:37.1471em;\"><span class=\"stl_277 stl_15 stl_349\">44,633 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.1288em;top:37.1471em;\"><span class=\"stl_277 stl_15 stl_163\">83,621 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4375em;top:37.1471em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2257em;top:37.1471em;\"><span class=\"stl_277 stl_15 stl_562\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:38.1165em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:20.2394em;top:38.1165em;\"><span class=\"stl_269 stl_12 stl_537\">44,633 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.9944em;top:38.1165em;\"><span class=\"stl_269 stl_12 stl_643\">83,621 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4307em;top:38.1165em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.0675em;top:38.1165em;\"><span class=\"stl_269 stl_12 stl_532\">128,254 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLeasesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8772": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_288\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_189\">of-use-assets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7049em;\"><span class=\"stl_353 stl_15 stl_275\" 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:19.5381em;\"><span class=\"stl_353 stl_15 stl_183\" 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:20.3712em;\"><span class=\"stl_353 stl_15 stl_37\" 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:21.2043em;\"><span class=\"stl_353 stl_15 stl_61\">lease. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8712em;\"><span class=\"stl_353 stl_15 stl_179\" 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:23.7043em;\"><span class=\"stl_353 stl_15 stl_278\" 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:24.5374em;\"><span class=\"stl_353 stl_15 stl_288\" 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:25.3706em;\"><span class=\"stl_353 stl_15 stl_194\" 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:26.2037em;\"><span class=\"stl_353 stl_15 stl_47\" 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:27.0368em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">ably certain. When determining the discount rates \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8699em;\"><span class=\"stl_353 stl_15 stl_37\" 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:28.7031em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0333em;\">payments, an incremental country specific borrowing \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5362em;\"><span class=\"stl_353 stl_15 stl_25\" 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:30.3693em;\"><span class=\"stl_353 stl_15 stl_62\" style=\"word-spacing:-0.0229em;\">Group\u2019s credit margin, ranging from 4.8% to 6.93%. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.2024em;\"><span class=\"stl_353 stl_15 stl_41\" 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:32.0356em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0321em;\">assets with reasonable similar characteristics. Initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.8687em;\"><span class=\"stl_353 stl_15 stl_190\" 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:33.7018em;\"><span class=\"stl_353 stl_15 stl_37\" 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:34.5349em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">separated from lease components. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2018em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">A maturity analysis for lease payments is described \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0349em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">in note 22. Impact from change in lease terms, lease \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8681em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">payments or modification of the lease contract is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7012em;z-index:2792;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0289em;\">further described in note 27. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3681em;\"><span class=\"stl_353 stl_15 stl_53\" 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:16.2012em;\"><span class=\"stl_353 stl_15 stl_146\" 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:17.0343em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">asset. The depreciation starts at the commencement \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8674em;\"><span class=\"stl_353 stl_15 stl_54\" 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:18.7006em;\"><span class=\"stl_353 stl_15 stl_37\" 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:19.5337em;\"><span class=\"stl_353 stl_15 stl_278\" 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:20.3668em;\"><span class=\"stl_353 stl_15 stl_62\" style=\"word-spacing:-0.023em;\">in note 15. \u00a0</span></div><div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_275\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_67\" style=\"word-spacing:-0.0285em;\">borrowing rate ranging from 4.8% to 6.93% applying \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_146\" 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_353 stl_15 stl_285\" style=\"word-spacing:-0.0325em;\">with reasonable similar characteristics. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.6768em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">The lease liability is subsequently measured by \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.5099em;\"><span class=\"stl_353 stl_15 stl_92\" 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:18.3431em;\"><span class=\"stl_353 stl_15 stl_193\" 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:19.1762em;\"><span class=\"stl_353 stl_15 stl_165\" 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:20.0093em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">lease payments made. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.3149em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">The lease liability is remeasured and corresponding \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.1481em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0251em;\">adjustments are made to the related right-of-use-asset \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.9812em;\"><span class=\"stl_353 stl_15 stl_52\">whenever: \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2031em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:11.2031em;\"><span class=\"stl_353 stl_15 stl_25\" 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:12.0362em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">liability is remeasured by discounting the revised \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:12.8693em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">lease payments using a revised discount rate. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.1749em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:14.1749em;\"><span class=\"stl_353 stl_15 stl_287\" 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:15.0081em;\"><span class=\"stl_353 stl_15 stl_55\" 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:15.8412em;\"><span class=\"stl_353 stl_15 stl_53\" style=\"word-spacing:-0.0254em;\">is remeasured by discounting the revised lease \u00a0</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:16.6743em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">payments using an unchanged discount rate. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.9799em;\"><span class=\"stl_353 stl_15 stl_27\">\u2022</span></div><div class=\"stl_01\" style=\"left:22.4413em;top:17.9799em;\"><span class=\"stl_353 stl_15 stl_285\" 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:18.8131em;\"><span class=\"stl_353 stl_15 stl_53\" 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:19.6462em;\"><span class=\"stl_353 stl_15 stl_16\" 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:20.4793em;\"><span class=\"stl_353 stl_15 stl_275\" 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:21.3124em;\"><span class=\"stl_353 stl_15 stl_47\" 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:22.1456em;\"><span class=\"stl_353 stl_15 stl_66\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8784": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_266\" style=\"word-spacing:0.005em;\">Note 18 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_132\">Inventories \u00a0</span></div><div class=\"stl_01\" style=\"left:23.3245em;top:10.3531em;\"><span class=\"stl_683 stl_12 stl_284\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_290\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_35\" 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_353 stl_15 stl_288\" 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_353 stl_15 stl_67\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_37\">estimates. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:24.7306em;\"><span class=\"stl_353 stl_15 stl_183\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_73\" 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_353 stl_15 stl_377\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_48\" style=\"word-spacing:-0.0262em;\">Raw materials and supply materials \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5045em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_171\">313,878 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3352em;top:11.9088em;\"><span class=\"stl_277 stl_15 stl_486\">317,392 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_181\" style=\"word-spacing:-0.0269em;\">Work in progress \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0964em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_344\">1,557,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7764em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_59\">1,231,858 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_458\" style=\"word-spacing:-0.0365em;\">Manufactured goods and commodities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4783em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_101\">712,285 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3889em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_711\">319,101 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">Write-down on inventory \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2902em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_142\">(255,928) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0845em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_104\">(224,615) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.9907em;\"><span class=\"stl_269 stl_12 stl_284\">Inventories \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7914em;top:15.9907em;\"><span class=\"stl_269 stl_12 stl_484\" style=\"word-spacing:1.2205em;\">2,327,309 1,643,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.6219em;\"><span class=\"stl_277 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">Write-down on inventory as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3052em;top:17.6219em;\"><span class=\"stl_277 stl_15 stl_104\">(224,615) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1195em;top:17.6219em;\"><span class=\"stl_277 stl_15 stl_335\">(162,419) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.6438em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3989em;top:18.6438em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.4158em;top:18.6438em;\"><span class=\"stl_277 stl_15 stl_300\">(14,498) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.6657em;\"><span class=\"stl_277 stl_15 stl_192\" style=\"word-spacing:-0.0256em;\">Write-down for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4289em;top:19.6657em;\"><span class=\"stl_277 stl_15 stl_614\">(187,183) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3683em;top:19.6657em;\"><span class=\"stl_277 stl_15 stl_231\">(75,300) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.6876em;\"><span class=\"stl_277 stl_15 stl_67\" style=\"word-spacing:-0.0285em;\">Use of write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4877em;top:20.6876em;\"><span class=\"stl_277 stl_15 stl_643\">126,322 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6333em;top:20.6876em;\"><span class=\"stl_277 stl_15 stl_587\">27,602 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.7094em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Reversal of write-down \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8089em;top:21.7094em;\"><span class=\"stl_277 stl_15 stl_361\">29,548 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1789em;top:21.7094em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.7257em;\"><span class=\"stl_269 stl_12 stl_25\" style=\"word-spacing:-0.0311em;\">Write-down on inventory as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1064em;top:22.7257em;\"><span class=\"stl_269 stl_12 stl_115\">(255,928) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.872em;top:22.7257em;\"><span class=\"stl_269 stl_12 stl_380\">(224,615) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.3569em;\"><span class=\"stl_277 stl_15 stl_66\" style=\"word-spacing:-0.0291em;\">Cost of goods sold amounts to, cf. note 4 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0045em;top:24.3569em;\"><span class=\"stl_277 stl_15 stl_357\">1,580,276 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7508em;top:24.3569em;\"><span class=\"stl_277 stl_15 stl_294\">1,608,263 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.9619em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">The inventory value of Encepur and Rabipur/RabAvert \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.7951em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0256em;\">products amounted to DKK 1,624.9 million (DKK 947.5 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.6282em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">million), Jynneos/Imvamune/Imvanex amounted to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.4613em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">DKK 302.6 million (DKK 286.8 million), Vivotif and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.2944em;\"><span class=\"stl_353 stl_15 stl_286\" style=\"word-spacing:-0.0199em;\">Vaxchora amounted to DKK 93.9 million (DKK 67.1 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:30.1276em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">million) and chikungunya amounted to DKK 68.4 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:30.9607em;\"><span class=\"stl_353 stl_15 stl_243\" style=\"word-spacing:-0.026em;\">(DKK 0 million) as per December 31, 2024 incl. write- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.7938em;\"><span class=\"stl_353 stl_15 stl_146\">down. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:33.4607em;\"><span class=\"stl_353 stl_15 stl_53\" style=\"word-spacing:-0.0254em;\">Write-down for the year amounted to DKK 187.2 million \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:34.2938em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0257em;\">(DKK 75.3 million) and mainly relates to write down of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:35.1269em;\"><span class=\"stl_353 stl_15 stl_36\" style=\"word-spacing:-0.0183em;\">MVA-BN batches. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.96em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">Use of write-down in 2024 of DKK 126.3 million (DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.7932em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0249em;\">27.6 million) relates to scrap of expired finish products \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.6263em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.0349em;\">and finally failed batch productions. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:29.2932em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0279em;\">As of December 31, 2024, the write down of PPQ \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:30.1263em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">batches for chikungunya has been reversed. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8785": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_179\" style=\"word-spacing:-0.0245em;\">Inventories are measured at the lower of cost less \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">write-downs for obsolescence and net realisable value. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0305em;\">The net realisable value is the estimated sales price in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">the ordinary course of business less relevant sales costs \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">determined on the basis of marketability, obsolescence \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">and changes in the expected sales price. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.0381em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0265em;\">Raw materials are measured at cost based on the FIFO \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8712em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">method. For raw materials, cost is determined as direct \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">acquisition costs incurred. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3712em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">The cost of work in progress and finished goods \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2043em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">produced in-house are measured at standard cost and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.0374em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">includes raw materials, consumables, external manu- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.8706em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">facturing services and direct payroll costs plus allocated \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.7037em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">indirect costs of production (production overheads). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3706em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">Indirect costs of production include indirect materials \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2037em;\"><span class=\"stl_353 stl_15 stl_284\" 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:27.0368em;\"><span class=\"stl_353 stl_15 stl_392\" 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:27.8699em;\"><span class=\"stl_353 stl_15 stl_422\" 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:28.7031em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.0339em;\">administration and management. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8792": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_156\" style=\"word-spacing:0.009em;\">Note 19 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_119\" style=\"word-spacing:0.0186em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.9744em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:15.9688em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:15.9688em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:17.6588em;\"><span class=\"stl_277 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">Trade receivables from public preparedness business \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4657em;top:17.6588em;z-index:576;\"><span class=\"stl_277 stl_15 stl_243\">87</span><span class=\"stl_277 stl_15 stl_426\">7</span><span class=\"stl_277 stl_15 stl_73\">,588 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7238em;top:17.6588em;\"><span class=\"stl_277 stl_15 stl_509\">1,660,604 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.6806em;\"><span class=\"stl_277 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">Trade receivables from travel health business \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5125em;top:18.6806em;\"><span class=\"stl_277 stl_15 stl_491\">297,975 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2875em;top:18.6806em;\"><span class=\"stl_277 stl_15 stl_620\">110,832 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.7025em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Trade receivables from contract work \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6269em;top:19.7025em;\"><span class=\"stl_277 stl_15 stl_244\">181 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8707em;top:19.7025em;\"><span class=\"stl_277 stl_15 stl_31\">6,668 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:20.7188em;\"><span class=\"stl_269 stl_12 stl_288\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:29.8782em;top:20.7188em;\"><span class=\"stl_269 stl_12 stl_344\">1,175,744 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5907em;top:20.7188em;\"><span class=\"stl_269 stl_12 stl_572\">1,778,104 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:22.56em;\"><span class=\"stl_352 stl_12 stl_289\" style=\"word-spacing:-0.0345em;\">Credit risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.3988em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Bavarian Nordic\u2019s customers are predominantly public \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.2319em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">authorities and renowned wholesalers and therefore \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.065em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0248em;\">the credit risk is very low. There are overdue receiva- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.8981em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">bles as of December 31, 2024 DKK 89 million (DKK 51 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.7313em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0248em;\">million). As of December 31, 2024 a loss allowance of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.5644em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">DKK 3 million (DKK 3 million) has been recognized. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:29.2313em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0327em;\">The Group has applied the simplified approach to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:30.0644em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0299em;\">measure the expected credit loss and a lifetime \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:30.8975em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">expected loss allowance for all trade receivables.The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:31.7306em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">allowance is an estimate based on shared credit risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:32.5638em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">characteristics and the days past due. At the time of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:33.3969em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">revenue recognition, Bavarian Nordic assesses the full \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:34.23em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0344em;\">lifetime expected credit losses. In addition, undue and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:35.0631em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">due receivables are analyzed in an ongoing process. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:35.8963em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Based on the credit assessment, receivables analysis, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:36.7294em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">historical experience and industry experience, it is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:37.5625em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">estimated whether the receivables are recoverable \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:22.5625em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">or write-downs are needed. Bavarian Nordic monitor \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:23.3956em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">the credit exposure on all customers, both new and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:24.2288em;\"><span class=\"stl_353 stl_15 stl_96\">existing. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:25.8956em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0285em;\">Bavarian Nordic recognizes a loss allowance for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:26.7288em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">expected credit losses and writes off trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:27.5619em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">when there is information indicating that the debtor \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:28.395em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">is in severe financial difficulty and there is no realistic \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:29.2281em;\"><span class=\"stl_353 stl_15 stl_63\" style=\"word-spacing:-0.0241em;\">prospect of recovery.</span></div><div class=\"stl_01\" style=\"left:27.714em;top:29.2281em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Subsequent recovery of amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:30.0613em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">previously written down is credited against sales and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:30.8944em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">distribution costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:32.5613em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">The payment conditions for the customers, including \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:33.3944em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">credit periods and any payment of interest in case of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:34.2275em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">non-payment, vary, but are always based on industry \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:35.0606em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">practice in the relevant market. The average credit \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:35.8938em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">period is approximately 30 days for the public prepar- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:36.7269em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0311em;\">edness business, while the average credit period for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:37.56em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">the travel health business is 60 days. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:9.8544em;\"><span class=\"stl_353 stl_15 stl_146\" 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:11.7638em;\"><span class=\"stl_269 stl_12 stl_288\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:58.917em;top:12.845em;\"><span class=\"stl_269 stl_12 stl_181\">Gross \u00a0</span></div><div class=\"stl_01\" style=\"left:58.0864em;top:13.595em;\"><span class=\"stl_269 stl_12 stl_250\">carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2277em;top:13.595em;\"><span class=\"stl_269 stl_12 stl_179\">Loss \u00a0</span></div><div class=\"stl_01\" style=\"left:66.8339em;top:13.595em;\"><span class=\"stl_269 stl_12 stl_490\" style=\"word-spacing:-0.0427em;\">Net carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.3506em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:58.2277em;top:14.345em;\"><span class=\"stl_269 stl_12 stl_94\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:62.4883em;top:14.345em;\"><span class=\"stl_269 stl_12 stl_193\">allowance \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1483em;top:14.345em;\"><span class=\"stl_269 stl_12 stl_94\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0294em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0569em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Not past due date \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8808em;top:17.0569em;\"><span class=\"stl_277 stl_15 stl_107\">1,089,771 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:17.0569em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.802em;top:17.0569em;\"><span class=\"stl_277 stl_15 stl_107\">1,089,771 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.0788em;\"><span class=\"stl_277 stl_15 stl_297\" style=\"word-spacing:-0.0226em;\">Overdue by 0-3 months \u00a0</span></div><div class=\"stl_01\" style=\"left:58.6339em;top:18.0788em;\"><span class=\"stl_277 stl_15 stl_299\">42,299 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:18.0788em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.5552em;top:18.0788em;\"><span class=\"stl_277 stl_15 stl_299\">42,299 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:19.1006em;\"><span class=\"stl_277 stl_15 stl_189\" style=\"word-spacing:-0.025em;\">Overdue by 3-6 months \u00a0</span></div><div class=\"stl_01\" style=\"left:58.6739em;top:19.1006em;\"><span class=\"stl_277 stl_15 stl_161\">41,204 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7814em;top:19.1006em;\"><span class=\"stl_277 stl_15 stl_414\">(1,954) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6008em;top:19.1006em;\"><span class=\"stl_277 stl_15 stl_137\">39,250 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.1225em;\"><span class=\"stl_277 stl_15 stl_49\" style=\"word-spacing:-0.012em;\">Overdue by 6-12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:58.9827em;top:20.1225em;\"><span class=\"stl_277 stl_15 stl_218\">5,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8064em;top:20.1225em;\"><span class=\"stl_277 stl_15 stl_436\">(1,041) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9202em;top:20.1225em;\"><span class=\"stl_277 stl_15 stl_59\">4,424 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:21.1444em;\"><span class=\"stl_277 stl_15 stl_65\" style=\"word-spacing:-0.0245em;\">Overdue by more than 12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:60.2571em;top:21.1444em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:21.1444em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:21.1444em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:22.1606em;\"><span class=\"stl_269 stl_12 stl_288\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7083em;top:22.1606em;\"><span class=\"stl_269 stl_12 stl_491\">1,178,739 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5964em;top:22.1606em;\"><span class=\"stl_269 stl_12 stl_420\">(2,995) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6733em;top:22.1606em;\"><span class=\"stl_269 stl_12 stl_344\">1,175,744 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:23.7863em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:24.8138em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Not past due date \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8395em;top:24.8138em;\"><span class=\"stl_277 stl_15 stl_232\">1,730,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:24.8138em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.7608em;top:24.8138em;\"><span class=\"stl_277 stl_15 stl_232\">1,730,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:25.8356em;\"><span class=\"stl_277 stl_15 stl_297\" style=\"word-spacing:-0.0226em;\">Overdue by 0-3 months \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7383em;top:25.8356em;\"><span class=\"stl_277 stl_15 stl_656\">39,613 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2939em;top:25.8356em;\"><span class=\"stl_277 stl_15 stl_649\">(191) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6058em;top:25.8356em;\"><span class=\"stl_277 stl_15 stl_105\">39,422 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:26.8575em;\"><span class=\"stl_277 stl_15 stl_189\" style=\"word-spacing:-0.025em;\">Overdue by 3-6 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.0421em;top:26.8575em;\"><span class=\"stl_277 stl_15 stl_397\">8,188 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2595em;top:26.8575em;\"><span class=\"stl_277 stl_15 stl_374\">(539) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9527em;top:26.8575em;\"><span class=\"stl_277 stl_15 stl_587\">7,649 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:27.8794em;\"><span class=\"stl_277 stl_15 stl_49\" style=\"word-spacing:-0.012em;\">Overdue by 6-12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.0064em;top:27.8794em;\"><span class=\"stl_277 stl_15 stl_106\">2,755 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8083em;top:27.8794em;\"><span class=\"stl_277 stl_15 stl_634\">(1,768) \u00a0</span></div><div class=\"stl_01\" style=\"left:69.3958em;top:27.8794em;\"><span class=\"stl_277 stl_15 stl_49\">987 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.9013em;\"><span class=\"stl_277 stl_15 stl_65\" style=\"word-spacing:-0.0245em;\">Overdue by more than 12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4652em;top:28.9013em;\"><span class=\"stl_277 stl_15 stl_243\">729 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2239em;top:28.9013em;\"><span class=\"stl_277 stl_15 stl_418\">(729) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:28.9013em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:29.9175em;\"><span class=\"stl_269 stl_12 stl_288\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6833em;top:29.9175em;\"><span class=\"stl_269 stl_12 stl_162\">1,781,331 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5839em;top:29.9175em;\"><span class=\"stl_269 stl_12 stl_402\">(3,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6058em;top:29.9175em;\"><span class=\"stl_269 stl_12 stl_116\">1,778,104 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_442\" style=\"word-spacing:0.0045em;\">Note 20 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_147\" style=\"word-spacing:0.0129em;\">Other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6411em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_195\">Deposits \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1375em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_107\">9,086 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6775em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_669\">11,185 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_297\" style=\"word-spacing:-0.0226em;\">Receivable VAT and duties \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_161\">38,910 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5394em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_210\">46,585 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">Derivative financial instruments at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6125em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5582em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_295\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_44\" style=\"word-spacing:-0.0258em;\">Interest receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:31.11em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_456\">3,687 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8669em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_61\">2,664 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:23.4129em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">Other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6219em;top:23.4129em;\"><span class=\"stl_277 stl_15 stl_370\">370 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1638em;top:23.4129em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.725em;top:24.4292em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0347em;\">Other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6732em;top:24.4292em;\"><span class=\"stl_269 stl_12 stl_142\">52,751 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0875em;top:24.4292em;\"><span class=\"stl_269 stl_12 stl_442\">106,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:26.0548em;\"><span class=\"stl_269 stl_12 stl_91\" style=\"word-spacing:-0.0338em;\">Classified as: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:27.0823em;\"><span class=\"stl_277 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">Non-current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1375em;top:27.0823em;\"><span class=\"stl_277 stl_15 stl_107\">9,086 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6775em;top:27.0823em;\"><span class=\"stl_277 stl_15 stl_669\">11,185 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:28.1042em;\"><span class=\"stl_277 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">Current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7832em;top:28.1042em;\"><span class=\"stl_277 stl_15 stl_298\">43,665 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6369em;top:28.1042em;\"><span class=\"stl_277 stl_15 stl_667\">95,136 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:29.1204em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0347em;\">Other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6732em;top:29.1204em;\"><span class=\"stl_269 stl_12 stl_142\">52,751 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0875em;top:29.1204em;\"><span class=\"stl_269 stl_12 stl_442\">106,321 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8793": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_156\" style=\"word-spacing:0.009em;\">Note 19 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_119\" style=\"word-spacing:0.0186em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.9744em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:15.9688em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:15.9688em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:17.6588em;\"><span class=\"stl_277 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">Trade receivables from public preparedness business \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4657em;top:17.6588em;z-index:576;\"><span class=\"stl_277 stl_15 stl_243\">87</span><span class=\"stl_277 stl_15 stl_426\">7</span><span class=\"stl_277 stl_15 stl_73\">,588 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7238em;top:17.6588em;\"><span class=\"stl_277 stl_15 stl_509\">1,660,604 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.6806em;\"><span class=\"stl_277 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">Trade receivables from travel health business \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5125em;top:18.6806em;\"><span class=\"stl_277 stl_15 stl_491\">297,975 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2875em;top:18.6806em;\"><span class=\"stl_277 stl_15 stl_620\">110,832 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.7025em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Trade receivables from contract work \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6269em;top:19.7025em;\"><span class=\"stl_277 stl_15 stl_244\">181 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8707em;top:19.7025em;\"><span class=\"stl_277 stl_15 stl_31\">6,668 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:20.7188em;\"><span class=\"stl_269 stl_12 stl_288\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:29.8782em;top:20.7188em;\"><span class=\"stl_269 stl_12 stl_344\">1,175,744 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5907em;top:20.7188em;\"><span class=\"stl_269 stl_12 stl_572\">1,778,104 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:22.56em;\"><span class=\"stl_352 stl_12 stl_289\" style=\"word-spacing:-0.0345em;\">Credit risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.3988em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Bavarian Nordic\u2019s customers are predominantly public \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.2319em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">authorities and renowned wholesalers and therefore \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.065em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0248em;\">the credit risk is very low. There are overdue receiva- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.8981em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">bles as of December 31, 2024 DKK 89 million (DKK 51 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.7313em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0248em;\">million). As of December 31, 2024 a loss allowance of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.5644em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">DKK 3 million (DKK 3 million) has been recognized. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:29.2313em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0327em;\">The Group has applied the simplified approach to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:30.0644em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0299em;\">measure the expected credit loss and a lifetime \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:30.8975em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">expected loss allowance for all trade receivables.The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:31.7306em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">allowance is an estimate based on shared credit risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:32.5638em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">characteristics and the days past due. At the time of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:33.3969em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">revenue recognition, Bavarian Nordic assesses the full \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:34.23em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0344em;\">lifetime expected credit losses. In addition, undue and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:35.0631em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">due receivables are analyzed in an ongoing process. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:35.8963em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Based on the credit assessment, receivables analysis, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:36.7294em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">historical experience and industry experience, it is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:37.5625em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">estimated whether the receivables are recoverable \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:22.5625em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">or write-downs are needed. Bavarian Nordic monitor \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:23.3956em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">the credit exposure on all customers, both new and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:24.2288em;\"><span class=\"stl_353 stl_15 stl_96\">existing. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:25.8956em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0285em;\">Bavarian Nordic recognizes a loss allowance for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:26.7288em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">expected credit losses and writes off trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:27.5619em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">when there is information indicating that the debtor \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:28.395em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">is in severe financial difficulty and there is no realistic \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:29.2281em;\"><span class=\"stl_353 stl_15 stl_63\" style=\"word-spacing:-0.0241em;\">prospect of recovery.</span></div><div class=\"stl_01\" style=\"left:27.714em;top:29.2281em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Subsequent recovery of amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:30.0613em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">previously written down is credited against sales and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:30.8944em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">distribution costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:32.5613em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">The payment conditions for the customers, including \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:33.3944em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">credit periods and any payment of interest in case of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:34.2275em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">non-payment, vary, but are always based on industry \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:35.0606em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">practice in the relevant market. The average credit \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:35.8938em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">period is approximately 30 days for the public prepar- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:36.7269em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0311em;\">edness business, while the average credit period for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:37.56em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">the travel health business is 60 days. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:9.8544em;\"><span class=\"stl_353 stl_15 stl_146\" 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:11.7638em;\"><span class=\"stl_269 stl_12 stl_288\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:58.917em;top:12.845em;\"><span class=\"stl_269 stl_12 stl_181\">Gross \u00a0</span></div><div class=\"stl_01\" style=\"left:58.0864em;top:13.595em;\"><span class=\"stl_269 stl_12 stl_250\">carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2277em;top:13.595em;\"><span class=\"stl_269 stl_12 stl_179\">Loss \u00a0</span></div><div class=\"stl_01\" style=\"left:66.8339em;top:13.595em;\"><span class=\"stl_269 stl_12 stl_490\" style=\"word-spacing:-0.0427em;\">Net carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.3506em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:58.2277em;top:14.345em;\"><span class=\"stl_269 stl_12 stl_94\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:62.4883em;top:14.345em;\"><span class=\"stl_269 stl_12 stl_193\">allowance \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1483em;top:14.345em;\"><span class=\"stl_269 stl_12 stl_94\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0294em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0569em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Not past due date \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8808em;top:17.0569em;\"><span class=\"stl_277 stl_15 stl_107\">1,089,771 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:17.0569em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.802em;top:17.0569em;\"><span class=\"stl_277 stl_15 stl_107\">1,089,771 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.0788em;\"><span class=\"stl_277 stl_15 stl_297\" style=\"word-spacing:-0.0226em;\">Overdue by 0-3 months \u00a0</span></div><div class=\"stl_01\" style=\"left:58.6339em;top:18.0788em;\"><span class=\"stl_277 stl_15 stl_299\">42,299 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:18.0788em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.5552em;top:18.0788em;\"><span class=\"stl_277 stl_15 stl_299\">42,299 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:19.1006em;\"><span class=\"stl_277 stl_15 stl_189\" style=\"word-spacing:-0.025em;\">Overdue by 3-6 months \u00a0</span></div><div class=\"stl_01\" style=\"left:58.6739em;top:19.1006em;\"><span class=\"stl_277 stl_15 stl_161\">41,204 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7814em;top:19.1006em;\"><span class=\"stl_277 stl_15 stl_414\">(1,954) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6008em;top:19.1006em;\"><span class=\"stl_277 stl_15 stl_137\">39,250 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.1225em;\"><span class=\"stl_277 stl_15 stl_49\" style=\"word-spacing:-0.012em;\">Overdue by 6-12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:58.9827em;top:20.1225em;\"><span class=\"stl_277 stl_15 stl_218\">5,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8064em;top:20.1225em;\"><span class=\"stl_277 stl_15 stl_436\">(1,041) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9202em;top:20.1225em;\"><span class=\"stl_277 stl_15 stl_59\">4,424 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:21.1444em;\"><span class=\"stl_277 stl_15 stl_65\" style=\"word-spacing:-0.0245em;\">Overdue by more than 12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:60.2571em;top:21.1444em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:21.1444em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:21.1444em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:22.1606em;\"><span class=\"stl_269 stl_12 stl_288\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:57.7083em;top:22.1606em;\"><span class=\"stl_269 stl_12 stl_491\">1,178,739 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5964em;top:22.1606em;\"><span class=\"stl_269 stl_12 stl_420\">(2,995) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6733em;top:22.1606em;\"><span class=\"stl_269 stl_12 stl_344\">1,175,744 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:23.7863em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:24.8138em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Not past due date \u00a0</span></div><div class=\"stl_01\" style=\"left:57.8395em;top:24.8138em;\"><span class=\"stl_277 stl_15 stl_232\">1,730,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2177em;top:24.8138em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.7608em;top:24.8138em;\"><span class=\"stl_277 stl_15 stl_232\">1,730,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:25.8356em;\"><span class=\"stl_277 stl_15 stl_297\" style=\"word-spacing:-0.0226em;\">Overdue by 0-3 months \u00a0</span></div><div class=\"stl_01\" style=\"left:58.7383em;top:25.8356em;\"><span class=\"stl_277 stl_15 stl_656\">39,613 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2939em;top:25.8356em;\"><span class=\"stl_277 stl_15 stl_649\">(191) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6058em;top:25.8356em;\"><span class=\"stl_277 stl_15 stl_105\">39,422 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:26.8575em;\"><span class=\"stl_277 stl_15 stl_189\" style=\"word-spacing:-0.025em;\">Overdue by 3-6 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.0421em;top:26.8575em;\"><span class=\"stl_277 stl_15 stl_397\">8,188 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2595em;top:26.8575em;\"><span class=\"stl_277 stl_15 stl_374\">(539) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9527em;top:26.8575em;\"><span class=\"stl_277 stl_15 stl_587\">7,649 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:27.8794em;\"><span class=\"stl_277 stl_15 stl_49\" style=\"word-spacing:-0.012em;\">Overdue by 6-12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.0064em;top:27.8794em;\"><span class=\"stl_277 stl_15 stl_106\">2,755 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8083em;top:27.8794em;\"><span class=\"stl_277 stl_15 stl_634\">(1,768) \u00a0</span></div><div class=\"stl_01\" style=\"left:69.3958em;top:27.8794em;\"><span class=\"stl_277 stl_15 stl_49\">987 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.9013em;\"><span class=\"stl_277 stl_15 stl_65\" style=\"word-spacing:-0.0245em;\">Overdue by more than 12 months \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4652em;top:28.9013em;\"><span class=\"stl_277 stl_15 stl_243\">729 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2239em;top:28.9013em;\"><span class=\"stl_277 stl_15 stl_418\">(729) \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1783em;top:28.9013em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:29.9175em;\"><span class=\"stl_269 stl_12 stl_288\" style=\"word-spacing:-0.0283em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6833em;top:29.9175em;\"><span class=\"stl_269 stl_12 stl_162\">1,781,331 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5839em;top:29.9175em;\"><span class=\"stl_269 stl_12 stl_402\">(3,227) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6058em;top:29.9175em;\"><span class=\"stl_269 stl_12 stl_116\">1,778,104 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8794": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_35\" 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_353 stl_15 stl_282\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_195\" 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_353 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Loss allowance is calculated using the \u2018full lifetime \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.6937em;\"><span class=\"stl_353 stl_15 stl_51\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_69\" 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_353 stl_15 stl_66\" 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_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_35\" 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_353 stl_15 stl_282\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">of loss. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2049em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">Derivative financial instruments are measured at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0381em;\"><span class=\"stl_353 stl_15 stl_30\">value. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8801": {
   "value": "<div class=\"stl_01\" style=\"left:4.7238em;top:22.56em;\"><span class=\"stl_352 stl_12 stl_289\" style=\"word-spacing:-0.0345em;\">Credit risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.3988em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Bavarian Nordic\u2019s customers are predominantly public \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:24.2319em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">authorities and renowned wholesalers and therefore \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.065em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0248em;\">the credit risk is very low. There are overdue receiva- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.8981em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">bles as of December 31, 2024 DKK 89 million (DKK 51 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.7313em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0248em;\">million). As of December 31, 2024 a loss allowance of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.5644em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">DKK 3 million (DKK 3 million) has been recognized. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:29.2313em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0327em;\">The Group has applied the simplified approach to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:30.0644em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0299em;\">measure the expected credit loss and a lifetime \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:30.8975em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">expected loss allowance for all trade receivables.The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:31.7306em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">allowance is an estimate based on shared credit risk \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:32.5638em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">characteristics and the days past due. At the time of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:33.3969em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">revenue recognition, Bavarian Nordic assesses the full \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:34.23em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0344em;\">lifetime expected credit losses. In addition, undue and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:35.0631em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">due receivables are analyzed in an ongoing process. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:35.8963em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Based on the credit assessment, receivables analysis, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:36.7294em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">historical experience and industry experience, it is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:37.5625em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">estimated whether the receivables are recoverable \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:22.5625em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">or write-downs are needed. Bavarian Nordic monitor \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:23.3956em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">the credit exposure on all customers, both new and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:24.2288em;\"><span class=\"stl_353 stl_15 stl_96\">existing. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:25.8956em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0285em;\">Bavarian Nordic recognizes a loss allowance for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:26.7288em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">expected credit losses and writes off trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:27.5619em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">when there is information indicating that the debtor \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:28.395em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">is in severe financial difficulty and there is no realistic \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:29.2281em;\"><span class=\"stl_353 stl_15 stl_63\" style=\"word-spacing:-0.0241em;\">prospect of recovery.</span></div><div class=\"stl_01\" style=\"left:27.714em;top:29.2281em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">Subsequent recovery of amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:30.0613em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">previously written down is credited against sales and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:30.8944em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">distribution costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:32.5613em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">The payment conditions for the customers, including \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:33.3944em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">credit periods and any payment of interest in case of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:34.2275em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">non-payment, vary, but are always based on industry \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:35.0606em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">practice in the relevant market. The average credit \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:35.8938em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">period is approximately 30 days for the public prepar- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:36.7269em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0311em;\">edness business, while the average credit period for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7319em;top:37.56em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">the travel health business is 60 days. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:9.8544em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">The table details the risk profile for trade receivables. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.0439em;\"><span class=\"stl_352 stl_12 stl_264\" style=\"word-spacing:-0.0389em;\">Credit risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.8827em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">The primary credit risk relates to trade receivables. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:37.7158em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">The Company assesses the expected credit losses also \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.2158em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">considering changes in the macro environment that \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0489em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">might impose an increased risk of losses. The Group\u00b4s \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.882em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0335em;\">customers are predominantly public authorities and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.7152em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">renowned pharmaceutical companies and wholesalers, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5483em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">and the credit risk on the Group's receivables is there- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3814em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0256em;\">fore considered to be very low. A loss allowance of DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.2145em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.0341em;\">2,995 thousand (DKK 3,227 thousand) has been recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.0477em;\"><span class=\"stl_353 stl_15 stl_36\" style=\"word-spacing:-0.0185em;\">nized as of December 31, 2024, cf. note 19. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.5895em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0256em;\">To manage credit risk regarding financial counterpar- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.4227em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">ties, Bavarian Nordic only enters into derivative finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.2558em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">cial contracts, repurchase contracts and money market \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.0889em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0319em;\">deposits with financial counterparties possessing a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.922em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">satisfactory long-term credit rating from at least two \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.7552em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0313em;\">out of the three selected ratings agencies: Standard and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.5883em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">Poor\u2019s, Moody\u2019s and Fitch. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.1302em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0345em;\">Cash and cash equivalents are not deemed to be \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.9633em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">subject to any special credit risk as they are deposited \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.7964em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0344em;\">with Nordea and Danske Bank. The bond portfolio is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.6295em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">invested in either Danish government bonds, Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.4627em;\"><span class=\"stl_353 stl_15 stl_458\" style=\"word-spacing:-0.0365em;\">mortgage bonds or bonds issued by Danish banks with \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.2958em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">high ratings. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8823": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_456\" style=\"word-spacing:-0.0065em;\">Note 21 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_144\">Prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_41\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_69\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_53\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:16.789em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:16.789em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:18.479em;\"><span class=\"stl_277 stl_15 stl_274\" style=\"word-spacing:-0.0293em;\">Prepayments to CMO's \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7895em;top:18.479em;\"><span class=\"stl_277 stl_15 stl_535\">73,986 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9052em;top:18.479em;\"><span class=\"stl_277 stl_15 stl_295\">4,556 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:19.5009em;\"><span class=\"stl_277 stl_15 stl_283\" style=\"word-spacing:-0.0323em;\">Other prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.827em;top:19.5009em;\"><span class=\"stl_277 stl_15 stl_127\">26,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6164em;top:19.5009em;\"><span class=\"stl_277 stl_15 stl_300\">18,510 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.5171em;\"><span class=\"stl_269 stl_12 stl_30\">Prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3608em;top:20.5171em;\"><span class=\"stl_269 stl_12 stl_414\">100,745 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4239em;top:20.5171em;\"><span class=\"stl_269 stl_12 stl_215\">23,066 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:22.1427em;\"><span class=\"stl_269 stl_12 stl_91\" 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_15 stl_287\" style=\"word-spacing:-0.0329em;\">Non-current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.802em;top:23.1702em;\"><span class=\"stl_277 stl_15 stl_301\">36,421 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9052em;top:23.1702em;\"><span class=\"stl_277 stl_15 stl_295\">4,556 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:24.1921em;\"><span class=\"stl_277 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">Current assets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8058em;top:24.1921em;\"><span class=\"stl_277 stl_15 stl_203\">64,324 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6164em;top:24.1921em;\"><span class=\"stl_277 stl_15 stl_300\">18,510 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:25.2084em;\"><span class=\"stl_269 stl_12 stl_30\">Prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3608em;top:25.2084em;\"><span class=\"stl_269 stl_12 stl_414\">100,745 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4239em;top:25.2084em;\"><span class=\"stl_269 stl_12 stl_215\">23,066 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:27.0552em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">As per December 31, 2024 the main part of the prepay- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:27.8884em;\"><span class=\"stl_353 stl_15 stl_193\" 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:38.7408em;top:28.7215em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">prepare for production of drug product for commercial \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.5546em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0311em;\">launch of Chikungunya. Costs related to the technology \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:30.3877em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0293em;\">transfer activities are recognized as prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:31.2209em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">when costs incur and then recognized as inventory in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:32.054em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">concurrence with purchase of production services from \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:32.8871em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">the CMO's. As per December 31, 2024 DKK 36.4 million \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:27.054em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">(DKK 4.6 million) has been recognized as non-current \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:27.8871em;\"><span class=\"stl_353 stl_15 stl_146\">prepayments. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:29.554em;\"><span class=\"stl_353 stl_15 stl_195\" style=\"word-spacing:-0.0351em;\">As per December 31, 2023 the main part of the the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:30.3871em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0357em;\">technology transfer of the production and packaging \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:31.2202em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0265em;\">activities for Encepur and Rabipur/RabAvert takes place \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:32.0534em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0265em;\">at CMO's (filing of Encepur, labelling and packing). \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8831": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_402\" style=\"word-spacing:-0.01em;\">Note 22 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_126\" style=\"word-spacing:0.0103em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6411em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">Financial instruments at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8232em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_201\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1632em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">Payable salaries, holiday accrual etc. \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4569em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_27\">242,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3119em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_397\">212,122 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">Gross to net deduction accrual \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4794em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_120\">186,576 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.29em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_678\">159,802 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">Other accrued costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.785em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_301\">38,243 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6507em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_590\">47,919 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.4073em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0384em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3307em;top:23.4073em;\"><span class=\"stl_269 stl_12 stl_171\">497,457 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1144em;top:23.4073em;\"><span class=\"stl_269 stl_12 stl_152\">419,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.2542em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">Gross to net deduction accruals consist of a variety of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.0873em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">sales deductions, including product returns as well as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.9204em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">rebates and discounts to government agencies, whole- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.7536em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">salers, health insurance companies, managed health- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:28.5867em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">care organizations and retail customers. The different \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:29.4198em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">components are further described in note 3. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:31.0867em;\"><span class=\"stl_353 stl_15 stl_422\" style=\"word-spacing:-0.0354em;\">For a further description of financial instruments see \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:31.9198em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">note 23. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8832": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_402\" style=\"word-spacing:-0.01em;\">Note 22 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_126\" style=\"word-spacing:0.0103em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6411em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">Financial instruments at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8232em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_201\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1632em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">Payable salaries, holiday accrual etc. \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4569em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_27\">242,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3119em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_397\">212,122 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">Gross to net deduction accrual \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4794em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_120\">186,576 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.29em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_678\">159,802 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">Other accrued costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.785em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_301\">38,243 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6507em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_590\">47,919 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.4073em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0384em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3307em;top:23.4073em;\"><span class=\"stl_269 stl_12 stl_171\">497,457 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1144em;top:23.4073em;\"><span class=\"stl_269 stl_12 stl_152\">419,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.2542em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">Gross to net deduction accruals consist of a variety of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.0873em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">sales deductions, including product returns as well as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.9204em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">rebates and discounts to government agencies, whole- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.7536em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">salers, health insurance companies, managed health- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:28.5867em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">care organizations and retail customers. The different \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:29.4198em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">components are further described in note 3. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:31.0867em;\"><span class=\"stl_353 stl_15 stl_422\" style=\"word-spacing:-0.0354em;\">For a further description of financial instruments see \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:31.9198em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">note 23. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8833": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_402\" style=\"word-spacing:-0.01em;\">Note 22 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_126\" style=\"word-spacing:0.0103em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.6411em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:17.6354em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_195\" style=\"word-spacing:-0.0352em;\">Financial instruments at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8232em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_201\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1632em;top:19.3254em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">Payable salaries, holiday accrual etc. \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4569em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_27\">242,736 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3119em;top:20.3473em;\"><span class=\"stl_277 stl_15 stl_397\">212,122 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">Gross to net deduction accrual \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4794em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_120\">186,576 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.29em;top:21.3692em;\"><span class=\"stl_277 stl_15 stl_678\">159,802 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">Other accrued costs \u00a0</span></div><div class=\"stl_01\" style=\"left:30.785em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_301\">38,243 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6507em;top:22.3911em;\"><span class=\"stl_277 stl_15 stl_590\">47,919 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:23.4073em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0384em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:30.3307em;top:23.4073em;\"><span class=\"stl_269 stl_12 stl_171\">497,457 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1144em;top:23.4073em;\"><span class=\"stl_269 stl_12 stl_152\">419,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:25.2542em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">Gross to net deduction accruals consist of a variety of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.0873em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">sales deductions, including product returns as well as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:26.9204em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">rebates and discounts to government agencies, whole- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:27.7536em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">salers, health insurance companies, managed health- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:28.5867em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">care organizations and retail customers. The different \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:29.4198em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">components are further described in note 3. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:31.0867em;\"><span class=\"stl_353 stl_15 stl_422\" style=\"word-spacing:-0.0354em;\">For a further description of financial instruments see \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:31.9198em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">note 23. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8835": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">Derivative financial instruments are measured at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_30\">value. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.7056em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">Other financial liabilities are measured at initial \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.5387em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">recognition at fair value less any transaction costs. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3718em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">Subsequent other financial liabilities are measured at \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2049em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0305em;\">amortized cost using the effective interest method, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0381em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">whereby the difference between proceeds and the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8712em;\"><span class=\"stl_353 stl_15 stl_54\" 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:13.7043em;\"><span class=\"stl_353 stl_15 stl_287\" 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:14.5374em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">usually equal to the nominal value. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8844": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_208\" style=\"word-spacing:-0.0095em;\">Note 23 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_382\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:11.9032em;\"><span class=\"stl_269 stl_12 stl_392\" style=\"word-spacing:-0.0362em;\">Categories of financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_189\" style=\"word-spacing:-0.025em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1195em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_665\">1,175,744 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.827em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_362\">1,778,104 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">Other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8014em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_232\">52,053 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5708em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_214\">60,434 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0356em;\">Cash and cash equivalents \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9895em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_205\">1,623,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7964em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_142\">1,477,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.9907em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Financial assets measured at amortized cost \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7702em;top:15.9907em;\"><span class=\"stl_269 stl_12 stl_298\">2,851,287 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5652em;top:15.9907em;\"><span class=\"stl_269 stl_12 stl_101\">3,315,772 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.6219em;\"><span class=\"stl_277 stl_15 stl_392\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4964em;top:17.6219em;\"><span class=\"stl_277 stl_15 stl_106\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2602em;top:17.6219em;\"><span class=\"stl_277 stl_15 stl_442\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:18.6382em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3333em;top:18.6382em;\"><span class=\"stl_269 stl_12 stl_143\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0858em;top:18.6382em;\"><span class=\"stl_269 stl_12 stl_57\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Derivative financial instruments to hedge future cash flows (exchange rate) \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3983em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.5664em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_535\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flows (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6264em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9989em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_341\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:22.3076em;\"><span class=\"stl_269 stl_12 stl_89\" style=\"word-spacing:-0.0382em;\">Financial assets used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:65.5583em;top:22.3076em;\"><span class=\"stl_269 stl_12 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4214em;top:22.3076em;\"><span class=\"stl_269 stl_12 stl_215\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:23.9388em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9964em;top:23.9388em;\"><span class=\"stl_277 stl_15 stl_477\">1,081,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7739em;top:23.9388em;\"><span class=\"stl_277 stl_15 stl_382\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:24.9607em;\"><span class=\"stl_277 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">Debt to credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8977em;top:24.9607em;\"><span class=\"stl_277 stl_15 stl_413\">15,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6339em;top:24.9607em;\"><span class=\"stl_277 stl_15 stl_327\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5839em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_728\">113,123 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2402em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_562\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Prepayment from customers \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4952em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_136\">131,408 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1764em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7377em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0639em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_327\">1,045,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3102em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_673\">954,142 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7377em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5164em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_373\">467,555 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3014em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_620\">419,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:30.0644em;\"><span class=\"stl_269 stl_12 stl_195\" style=\"word-spacing:-0.0353em;\">Financial liabilities measured at amortized cost \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7752em;top:30.0644em;\"><span class=\"stl_269 stl_12 stl_27\">2,853,812 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5508em;top:30.0644em;\"><span class=\"stl_269 stl_12 stl_301\">3,896,276 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:31.6957em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Derivative financial instruments to hedge future cash flows (exchange rate) \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8352em;top:31.6957em;\"><span class=\"stl_277 stl_15 stl_201\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1752em;top:31.6957em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7364em;top:32.7119em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0385em;\">Financial liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.697em;top:32.7119em;\"><span class=\"stl_269 stl_12 stl_688\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1677em;top:32.7119em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.3283em;\"><span class=\"stl_352 stl_12 stl_39\" 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_353 stl_15 stl_289\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_63\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_91\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_179\" 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_353 stl_15 stl_21\" 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_352 stl_12 stl_94\" style=\"word-spacing:-0.0376em;\">Market risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:24.4983em;\"><span class=\"stl_353 stl_15 stl_288\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_195\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_193\" 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_352 stl_12 stl_67\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_32\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_433\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_288\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">pari settlement of securities in order to minimize value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:13.6614em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0344em;\">adjustment risks. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:15.3226em;\"><span class=\"stl_352 stl_12 stl_223\" 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_353 stl_15 stl_192\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_16\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_83\" 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_353 stl_15 stl_282\" style=\"word-spacing:-0.035em;\">option contracts. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:23.6601em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">The exposure to EUR for operating and financing activ- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:24.4932em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">ities are not hedged as management believes that \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:25.3264em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">fluctuations in EUR are limited due to the Danish fixed- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:26.1595em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0329em;\">rate policy which is expected to be maintained and that \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:26.9926em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">matching of incoming and outgoing payments denom- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:27.8257em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0267em;\">inated in EUR reduces the net exposure significantly. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:28.6589em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Thus the fluctuations in EUR do not have a significant \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:29.492em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">impact on financial performance. Given the magnitude \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:30.3251em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">of payable milestones denominated in EUR, manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:31.1582em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">ment has chosen to hedge the EUR exposure on this \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:31.9914em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">part of the Group's investment activities. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.3889em;\"><span class=\"stl_269 stl_12 stl_74\" 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_269 stl_12 stl_74\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:55.1045em;top:12.2789em;\"><span class=\"stl_269 stl_12 stl_390\" style=\"word-spacing:-0.0372em;\">and cash \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0189em;top:13.0289em;\"><span class=\"stl_269 stl_12 stl_264\">equivalents, \u00a0</span></div><div class=\"stl_01\" style=\"left:69.3877em;top:13.0289em;\"><span class=\"stl_269 stl_12 stl_51\">Net \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7845em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:54.8502em;top:13.7789em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:0.9856em;\">securities Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:63.332em;top:13.7789em;\"><span class=\"stl_269 stl_12 stl_164\">Liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0345em;top:13.7789em;\"><span class=\"stl_269 stl_12 stl_422\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.4632em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.4907em;\"><span class=\"stl_277 stl_15 stl_46\">USD \u00a0</span></div><div class=\"stl_01\" style=\"left:55.4858em;top:16.4907em;\"><span class=\"stl_277 stl_15 stl_383\">334,980 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.9214em;top:16.4907em;\"><span class=\"stl_277 stl_15 stl_425\">619,176 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3395em;top:16.4907em;\"><span class=\"stl_277 stl_15 stl_144\">(1,218,425) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0508em;top:16.4907em;\"><span class=\"stl_277 stl_15 stl_424\">(264,269) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:17.5126em;\"><span class=\"stl_277 stl_15 stl_74\">EUR \u00a0</span></div><div class=\"stl_01\" style=\"left:55.4683em;top:17.5126em;\"><span class=\"stl_277 stl_15 stl_338\">208,849 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.7258em;top:17.5126em;\"><span class=\"stl_277 stl_15 stl_427\">660,007 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3127em;top:17.5126em;\"><span class=\"stl_277 stl_15 stl_381\">(1,530,566) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.127em;top:17.5126em;\"><span class=\"stl_277 stl_15 stl_702\">(661,710) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:18.5345em;\"><span class=\"stl_277 stl_15 stl_309\">CHF \u00a0</span></div><div class=\"stl_01\" style=\"left:56.1439em;top:18.5345em;\"><span class=\"stl_277 stl_15 stl_402\">8,473 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.1145em;top:18.5345em;\"><span class=\"stl_277 stl_15 stl_575\">39,541 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.782em;top:18.5345em;\"><span class=\"stl_277 stl_15 stl_543\">(206,248) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0539em;top:18.5345em;\"><span class=\"stl_277 stl_15 stl_59\">(158,234) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.1545em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:21.182em;\"><span class=\"stl_277 stl_15 stl_46\">USD \u00a0</span></div><div class=\"stl_01\" style=\"left:55.5252em;top:21.182em;\"><span class=\"stl_277 stl_15 stl_149\">205,315 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.2752em;top:21.182em;\"><span class=\"stl_277 stl_15 stl_163\">1,334,432 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8589em;top:21.182em;\"><span class=\"stl_277 stl_15 stl_449\">(945,701) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.237em;top:21.182em;\"><span class=\"stl_277 stl_15 stl_214\">594,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:22.2039em;\"><span class=\"stl_277 stl_15 stl_74\">EUR \u00a0</span></div><div class=\"stl_01\" style=\"left:55.5608em;top:22.2039em;\"><span class=\"stl_277 stl_15 stl_376\">149,934 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.7664em;top:22.2039em;\"><span class=\"stl_277 stl_15 stl_357\">455,057 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.372em;top:22.2039em;\"><span class=\"stl_277 stl_15 stl_414\">(2,679,716) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5839em;top:22.2039em;\"><span class=\"stl_277 stl_15 stl_112\">(2,074,725) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.2257em;\"><span class=\"stl_277 stl_15 stl_309\">CHF \u00a0</span></div><div class=\"stl_01\" style=\"left:55.8433em;top:23.2257em;\"><span class=\"stl_277 stl_15 stl_113\">10,281 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.3983em;top:23.2257em;\"><span class=\"stl_277 stl_15 stl_451\">4,649 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.837em;top:23.2257em;\"><span class=\"stl_277 stl_15 stl_151\">(181,627) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.062em;top:23.2257em;\"><span class=\"stl_277 stl_15 stl_153\">(166,697) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.4489em;\"><span class=\"stl_269 stl_12 stl_195\" 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_269 stl_12 stl_374\" style=\"word-spacing:-0.034em;\">Likely change</span></div><div class=\"stl_01\" style=\"left:66.704em;top:26.5889em;\"><span class=\"stl_269 stl_12 stl_378\" style=\"word-spacing:0.6074em;\">Hypothetical Hypothetical \u00a0</span></div><div class=\"stl_01\" style=\"left:58.3814em;top:27.3389em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0348em;\">in exchange \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3258em;top:27.3389em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0383em;\">change in \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5777em;top:27.3389em;\"><span class=\"stl_269 stl_12 stl_334\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7289em;top:28.0889em;\"><span class=\"stl_269 stl_12 stl_297\">rate \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2739em;top:28.0889em;\"><span class=\"stl_269 stl_12 stl_508\">equity \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6102em;top:28.0889em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">net result \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.7732em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:30.8007em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">Change if higher USD-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0227em;top:30.8007em;\"><span class=\"stl_277 stl_15 stl_29\">8% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3033em;top:30.8007em;\"><span class=\"stl_277 stl_15 stl_210\">30,868 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5883em;top:30.8007em;\"><span class=\"stl_277 stl_15 stl_361\">29,544 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.8226em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">Change if higher EUR-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0258em;top:31.8226em;\"><span class=\"stl_277 stl_15 stl_207\">2% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1414em;top:31.8226em;\"><span class=\"stl_277 stl_15 stl_112\">(12,725) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3877em;top:31.8226em;\"><span class=\"stl_277 stl_15 stl_161\">(18,385) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:32.8445em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">Change if higher CHF-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0158em;top:32.8445em;\"><span class=\"stl_277 stl_15 stl_95\">9% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3464em;top:32.8445em;\"><span class=\"stl_277 stl_15 stl_137\">54,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4483em;top:32.8445em;\"><span class=\"stl_277 stl_15 stl_729\">(17,809) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:34.4645em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:35.492em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">Change if higher USD-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7208em;top:35.492em;\"><span class=\"stl_277 stl_15 stl_398\">15% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.057em;top:35.492em;\"><span class=\"stl_277 stl_15 stl_244\">110,532 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2977em;top:35.492em;\"><span class=\"stl_277 stl_15 stl_518\">118,270 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.5139em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">Change if higher EUR-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0489em;top:36.5139em;\"><span class=\"stl_277 stl_15 stl_633\">1% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1727em;top:36.5139em;\"><span class=\"stl_277 stl_15 stl_374\">(19,347) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3827em;top:36.5139em;\"><span class=\"stl_277 stl_15 stl_366\">(21,505) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:37.5357em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">Change if higher CHF-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0314em;top:37.5357em;\"><span class=\"stl_277 stl_15 stl_38\">5% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3852em;top:37.5357em;\"><span class=\"stl_277 stl_15 stl_566\">29,518 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8027em;top:37.5357em;\"><span class=\"stl_277 stl_15 stl_730\">(8,117) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:10.0983em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">The sensitivity analysis shows the net effect it would \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:10.9314em;\"><span class=\"stl_353 stl_15 stl_274\" 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:4.7243em;top:11.7646em;\"><span class=\"stl_353 stl_15 stl_33\" 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:4.7243em;top:12.5977em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0287em;\">8%, 2% or 9%, respectively (USD, EUR and CHF had \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:13.4308em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.027em;\">been 15%, 1% or 5%, respectively), higher than the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:14.2639em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">actual exchange rates. A corresponding decrease in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:15.0971em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">the actual exchange rates would have had an opposite \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:15.9302em;\"><span class=\"stl_353 stl_15 stl_53\" style=\"word-spacing:-0.0254em;\">(positive/negative) effect on net result and equity. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:16.7633em;\"><span class=\"stl_353 stl_15 stl_182\" style=\"word-spacing:-0.0232em;\">percentages used year-end 2024 for USD and CHF are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:17.5964em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">based on the historical maximal currency rate spread \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:18.4296em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">in 2024. The percentage used for EUR is based on the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:19.2627em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0337em;\">maximum spread in the ERM II framework. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:20.9239em;\"><span class=\"stl_352 stl_12 stl_473\" style=\"word-spacing:-0.0358em;\">Derivative financial instruments not designated as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:21.7571em;\"><span class=\"stl_352 stl_12 stl_91\" style=\"word-spacing:-0.0338em;\">hedge accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:22.5958em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0345em;\">Currency forward contracts and currency option \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:23.4289em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0319em;\">contracts which are not designated as hedge \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:24.2621em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">accounting are classified as financial assets/liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:25.0952em;\"><span class=\"stl_353 stl_15 stl_55\" 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:25.9283em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">nized through the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:27.5952em;\"><span class=\"stl_353 stl_15 stl_92\" 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:28.4283em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.0271em;\">31, 2024 or as per December 31, 2023 not designated as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:29.2614em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0323em;\">hedge accounting. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:30.9227em;\"><span class=\"stl_352 stl_12 stl_422\" style=\"word-spacing:-0.0355em;\">Hedging of expected future cash flows \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:31.7614em;\"><span class=\"stl_353 stl_15 stl_195\" style=\"word-spacing:-0.0353em;\">The Company has concluded currency forward contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:32.5946em;\"><span class=\"stl_353 stl_15 stl_48\" style=\"word-spacing:-0.0263em;\">to sell USD 264 million (sell USD 210 million) and to buy \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:33.4277em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">EUR 180 million (buy EUR 290 million) to hedge net USD \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:34.2608em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">cash position during 2025 and EUR milestone payments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:35.0939em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">in 2025. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:10.1558em;\"><span class=\"stl_269 stl_12 stl_74\" style=\"word-spacing:-0.0361em;\">Cash flow hedge \u2013 forward currency contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8117em;top:11.2952em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5498em;top:12.0046em;\"><span class=\"stl_269 stl_12 stl_91\">Contract \u00a0</span></div><div class=\"stl_01\" style=\"left:50.2942em;top:12.0033em;\"><span class=\"stl_269 stl_12 stl_223\">adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6917em;top:12.7127em;\"><span class=\"stl_269 stl_12 stl_390\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:45.851em;top:12.7121em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:49.7498em;top:12.7114em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0306em;\">recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8573em;top:13.4214em;\"><span class=\"stl_269 stl_12 stl_458\">Forward \u00a0</span></div><div class=\"stl_01\" style=\"left:41.316em;top:13.4208em;\"><span class=\"stl_269 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">based on \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2835em;top:13.4196em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:49.496em;top:13.4196em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0366em;\">other compre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:14.1352em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7992em;top:14.1296em;\"><span class=\"stl_269 stl_12 stl_41\">price \u00a0</span></div><div class=\"stl_01\" style=\"left:40.2923em;top:14.1289em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0302em;\">agreed rates \u00a0</span></div><div class=\"stl_01\" style=\"left:44.8904em;top:14.1277em;\"><span class=\"stl_269 stl_12 stl_44\" style=\"word-spacing:-0.0258em;\">December 31</span></div><div class=\"stl_01\" style=\"left:49.189em;top:14.1277em;\"><span class=\"stl_269 stl_12 stl_470\" style=\"word-spacing:-0.0338em;\">hensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:15.7889em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:16.7696em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Forward currency contracts (USD/DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5417em;top:16.7696em;z-index:2477;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">Sell USD</span></div><div class=\"stl_01\" style=\"left:36.454em;top:16.7696em;z-index:2477;\"><span class=\"stl_277 stl_15 stl_376\" style=\"word-spacing:0.0347em;\">6.76 - </span><span class=\"stl_277 stl_15 stl_604\">7</span><span class=\"stl_277 stl_15 stl_107\">.07 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.306em;top:16.7696em;\"><span class=\"stl_277 stl_15 stl_460\">1,832,534 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7004em;top:16.7696em;\"><span class=\"stl_277 stl_15 stl_696\">(37,980) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4654em;top:16.7696em;z-index:2505;\"><span class=\"stl_277 stl_15 stl_37\">(7</span><span class=\"stl_277 stl_15 stl_648\">7</span><span class=\"stl_277 stl_15 stl_731\">,165) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:17.7446em;\"><span class=\"stl_277 stl_15 stl_90\" style=\"word-spacing:-0.0343em;\">Forward currency contracts (DKK/EUR) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5417em;top:17.7446em;z-index:2555;\"><span class=\"stl_277 stl_15 stl_93\" style=\"word-spacing:-0.039em;\">Buy EUR</span></div><div class=\"stl_01\" style=\"left:36.474em;top:17.7446em;z-index:2555;\"><span class=\"stl_277 stl_15 stl_604\">7</span><span class=\"stl_277 stl_15 stl_686\" style=\"word-spacing:0.0388em;\">.40 - 7.41 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3329em;top:17.7446em;\"><span class=\"stl_277 stl_15 stl_128\">1,333,378 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.186em;top:17.7446em;\"><span class=\"stl_277 stl_15 stl_59\">8,078 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9023em;top:17.7446em;\"><span class=\"stl_277 stl_15 stl_322\">2,479 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5285em;top:18.7139em;\"><span class=\"stl_269 stl_12 stl_658\">(29,902) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2142em;top:18.7139em;\"><span class=\"stl_269 stl_12 stl_59\">(74,686) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:20.2452em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Forward currency contracts (USD/DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5423em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">Sell USD</span></div><div class=\"stl_01\" style=\"left:36.351em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_58\" style=\"word-spacing:-0.002em;\">6.90 - 6.94 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3142em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_102\">1,454,570 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.941em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_732\">39,184 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.0154em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_733\">9,159 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:22.2008em;\"><span class=\"stl_277 stl_15 stl_90\" style=\"word-spacing:-0.0343em;\">Forward currency contracts (DKK/EUR) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5429em;top:22.2008em;z-index:2739;\"><span class=\"stl_277 stl_15 stl_93\" style=\"word-spacing:-0.039em;\">Buy EUR</span></div><div class=\"stl_01\" style=\"left:36.485em;top:22.2008em;z-index:2739;\"><span class=\"stl_277 stl_15 stl_604\">7</span><span class=\"stl_277 stl_15 stl_588\" style=\"word-spacing:0.0452em;\">.41 - 7.42 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.4135em;top:22.2008em;\"><span class=\"stl_277 stl_15 stl_98\">2,150,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1642em;top:22.2008em;\"><span class=\"stl_277 stl_15 stl_445\">5,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8885em;top:22.2008em;\"><span class=\"stl_277 stl_15 stl_445\">5,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6954em;top:23.1702em;\"><span class=\"stl_269 stl_12 stl_538\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4679em;top:23.1702em;\"><span class=\"stl_269 stl_12 stl_158\">14,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:25.3758em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0305em;\">Cash flow hedge \u2013 interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8117em;top:26.5152em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5498em;top:27.2246em;\"><span class=\"stl_269 stl_12 stl_91\">Contract \u00a0</span></div><div class=\"stl_01\" style=\"left:50.2942em;top:27.2233em;\"><span class=\"stl_269 stl_12 stl_223\">adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6917em;top:27.9327em;\"><span class=\"stl_269 stl_12 stl_390\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:45.851em;top:27.9321em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:49.7498em;top:27.9314em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0306em;\">recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:41.316em;top:28.6408em;\"><span class=\"stl_269 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">based on \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2835em;top:28.6396em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:49.496em;top:28.6396em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0366em;\">other compre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:29.3552em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:40.2923em;top:29.3489em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0302em;\">agreed rates \u00a0</span></div><div class=\"stl_01\" style=\"left:44.8904em;top:29.3477em;\"><span class=\"stl_269 stl_12 stl_44\" style=\"word-spacing:-0.0258em;\">December 31</span></div><div class=\"stl_01\" style=\"left:49.189em;top:29.3477em;\"><span class=\"stl_269 stl_12 stl_470\" style=\"word-spacing:-0.0338em;\">hensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:31.0089em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:31.9839em;\"><span class=\"stl_269 stl_12 stl_67\" style=\"word-spacing:-0.0283em;\">Interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:32.9646em;\"><span class=\"stl_277 stl_15 stl_504\" style=\"word-spacing:-0.0135em;\">DKK - fixed rate 0.9625% p.a. (expiry 2031) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1148em;top:32.9646em;\"><span class=\"stl_277 stl_15 stl_383\">14,880 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6729em;top:32.9646em;\"><span class=\"stl_277 stl_15 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1942em;top:32.9646em;\"><span class=\"stl_277 stl_15 stl_120\">(405) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6048em;top:33.9339em;\"><span class=\"stl_269 stl_12 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1067em;top:33.9339em;\"><span class=\"stl_269 stl_12 stl_136\">(405) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:35.4652em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:36.4402em;\"><span class=\"stl_269 stl_12 stl_67\" style=\"word-spacing:-0.0283em;\">Interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:37.4208em;\"><span class=\"stl_277 stl_15 stl_504\" style=\"word-spacing:-0.0135em;\">DKK - fixed rate 0.9625% p.a. (expiry 2031) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2029em;top:37.4208em;\"><span class=\"stl_277 stl_15 stl_706\">17,041 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.266em;top:37.4208em;\"><span class=\"stl_277 stl_15 stl_341\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1967em;top:37.4208em;\"><span class=\"stl_277 stl_15 stl_149\">(766) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1385em;top:38.3902em;\"><span class=\"stl_269 stl_12 stl_734\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1123em;top:38.3902em;\"><span class=\"stl_269 stl_12 stl_158\">(766) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:10.1008em;\"><span class=\"stl_353 stl_15 stl_422\" style=\"word-spacing:-0.0355em;\">These concluded currency forward contracts are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:10.9339em;z-index:149;\"><span class=\"stl_353 stl_15 stl_422\" style=\"word-spacing:-0.0353em;\">deemed to be effective hedges of future transa</span><span class=\"stl_353 stl_15 stl_648\">c</span><span class=\"stl_353 stl_15 stl_648\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:11.7671em;\"><span class=\"stl_353 stl_15 stl_189\" style=\"word-spacing:-0.0249em;\">tion (cash flow hedges) and thus treated as hedge \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:12.6002em;\"><span class=\"stl_353 stl_15 stl_69\">accounting. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:14.2671em;\"><span class=\"stl_353 stl_15 stl_85\" 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:15.1002em;\"><span class=\"stl_353 stl_15 stl_37\" 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:15.9333em;\"><span class=\"stl_353 stl_15 stl_275\" 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:16.7664em;\"><span class=\"stl_353 stl_15 stl_288\" 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:17.5996em;\"><span class=\"stl_353 stl_15 stl_278\" 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:18.4327em;\"><span class=\"stl_353 stl_15 stl_433\" 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:19.2658em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">secure high effectiveness of the hedge. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:20.9271em;\"><span class=\"stl_352 stl_12 stl_177\" style=\"word-spacing:-0.0434em;\">Cash risks \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:21.7658em;\"><span class=\"stl_353 stl_15 stl_69\" 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:22.5989em;\"><span class=\"stl_353 stl_15 stl_25\" 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:23.4321em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">cash equivalents totaled DKK 1,623.5 million as of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:24.2652em;\"><span class=\"stl_353 stl_15 stl_313\" style=\"word-spacing:-0.0206em;\">December 31, 2024 (DKK 1,477.2 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:25.9321em;\"><span class=\"stl_353 stl_15 stl_55\" 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:26.7652em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0274em;\">below. Amounts are stated excluding interest. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.0312em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2012em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.9062em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_68\" style=\"word-spacing:-0.0296em;\">Fair value as of \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6999em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:1.0723em;\">Effective Fair</span></div><div class=\"stl_01\" style=\"left:28.279em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_422\" style=\"word-spacing:-0.0353em;\">value as of \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8706em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_378\">Effective \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:12.2289em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:17.4899em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_44\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:23.9668em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_75\">interest \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6606em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_44\" style=\"word-spacing:-0.0257em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1374em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_75\">interest \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:13.9077em;\"><span class=\"stl_269 stl_12 stl_87\" style=\"word-spacing:-0.0427em;\">Bond portfolio \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_409\" style=\"word-spacing:-0.0165em;\">Within 0-2 years \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1368em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_130\">399,833 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.8643em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_456\">2.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3581em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_679\">230,192 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0574em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_107\">3.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_42\" style=\"word-spacing:-0.0235em;\">Within 3-5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.0437em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:26.0043em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.2149em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.1756em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_32\" style=\"word-spacing:-0.0267em;\">After 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1793em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_327\">151,705 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.8599em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_49\">2.8% \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3106em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_109\">160,055 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0368em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_295\">3.2% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:18.9781em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_143\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.7618em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_314\">2.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:29.1231em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_57\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9331em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_314\">3.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:19.842em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">Fluctuations in interest rate levels affect the Group's \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:20.6752em;\"><span class=\"stl_353 stl_15 stl_274\" 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:4.7237em;top:21.5083em;\"><span class=\"stl_353 stl_15 stl_42\" style=\"word-spacing:-0.0235em;\">percentage point relative to the interest rate level on \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:22.3414em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">the balance sheet date will have an impact of DKK 11.5 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:23.1745em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0274em;\">million on the Group\u00b4s net result and equity (DKK 13.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:24.0077em;\"><span class=\"stl_353 stl_15 stl_292\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7318em;top:19.8408em;\"><span class=\"stl_353 stl_15 stl_41\" 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:21.7318em;top:20.6739em;\"><span class=\"stl_353 stl_15 stl_180\" style=\"word-spacing:-0.0238em;\">is a result of previous year's investment strategy. The \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7318em;top:21.507em;\"><span class=\"stl_353 stl_15 stl_51\" 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:21.7318em;top:22.3402em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">amended investment strategy with the aim of reducing \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7318em;top:23.1733em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">the duration of the portfolio. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_22\" style=\"word-spacing:-0.0375em;\">Maturity of financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4239em;top:10.7645em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.9314em;top:11.8489em;\"><span class=\"stl_270 stl_77 stl_278\" style=\"word-spacing:-0.0307em;\">Undiscounted contractual cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2789em;top:12.927em;\"><span class=\"stl_269 stl_12 stl_17\">Due \u00a0</span></div><div class=\"stl_01\" style=\"left:49.9902em;top:13.677em;\"><span class=\"stl_269 stl_12 stl_550\" style=\"word-spacing:-0.0403em;\">Due within \u00a0</span></div><div class=\"stl_01\" style=\"left:54.3195em;top:13.677em;\"><span class=\"stl_269 stl_12 stl_433\" style=\"word-spacing:-0.0337em;\">between 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.9595em;top:13.677em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9827em;top:13.677em;\"><span class=\"stl_269 stl_12 stl_276\">Carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.4327em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.362em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_42\" style=\"word-spacing:-0.0233em;\">1 year</span></div><div class=\"stl_01\" style=\"left:54.069em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0307em;\">and 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:59.577em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_192\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4989em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1627em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_94\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:51.0689em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_587\">1,104,708 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6602em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.912em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:63.8252em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_587\">1,104,708 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2658em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_346\">1,081,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">Credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:52.112em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_62\">2,588 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.157em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_728\">10,162 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.6352em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_416\">4,345 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.632em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_721\">17,095 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.167em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_413\">15,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8464em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_688\">39,602 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.0614em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_296\">80,357 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.912em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.3327em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_735\">119,959 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8527em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_728\">113,123 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:19.137em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Prepayment from customers \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5064em;top:19.137em;\"><span class=\"stl_277 stl_15 stl_136\">131,408 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.262em;top:19.137em;\"><span class=\"stl_277 stl_15 stl_136\">131,408 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7639em;top:19.137em;\"><span class=\"stl_277 stl_15 stl_136\">131,408 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:51.0758em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_327\">1,045,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6608em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9127em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:63.8321em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_327\">1,045,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3339em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_327\">1,045,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5289em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_373\">467,555 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6608em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9127em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.2846em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_373\">467,555 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7864em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_373\">467,555 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0379em;\">Non-derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7771em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_57\">2,790,995 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.9408em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_643\">90,519 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.5077em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_313\">4,345 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5096em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_209\">2,885,859 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0452em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_27\">2,853,812 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">Derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7102em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_688\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6533em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9052em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.4664em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_688\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9683em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_688\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:24.9839em;\"><span class=\"stl_277 stl_15 stl_48\" style=\"word-spacing:-0.0262em;\">The outstanding deferred consideration as of December 31, 2024 is expected to be fully paid in first half of 2025, see \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:25.817em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">note 24 for further description. \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4246em;top:26.597em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.9327em;top:27.6814em;\"><span class=\"stl_270 stl_77 stl_278\" style=\"word-spacing:-0.0307em;\">Undiscounted contractual cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2802em;top:28.7595em;\"><span class=\"stl_269 stl_12 stl_17\">Due \u00a0</span></div><div class=\"stl_01\" style=\"left:49.9914em;top:29.5095em;\"><span class=\"stl_269 stl_12 stl_550\" style=\"word-spacing:-0.0403em;\">Due within \u00a0</span></div><div class=\"stl_01\" style=\"left:54.3208em;top:29.5095em;\"><span class=\"stl_269 stl_12 stl_433\" style=\"word-spacing:-0.0337em;\">between 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.9608em;top:29.5095em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9839em;top:29.5095em;\"><span class=\"stl_269 stl_12 stl_276\">Carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:30.2652em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3633em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_42\" style=\"word-spacing:-0.0233em;\">1 year</span></div><div class=\"stl_01\" style=\"left:54.071em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0307em;\">and 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:59.5783em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_192\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5002em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1639em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_94\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:50.9858em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_308\">1,394,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.2421em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_230\">1,082,525 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.9127em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:63.7771em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_38\">2,477,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2639em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_382\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">Credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1358em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_562\">2,720 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.0896em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_105\">10,698 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7689em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_736\">7,167 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5514em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_211\">20,586 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.1239em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_718\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8258em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_163\">45,679 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.0514em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_207\">93,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1433em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_156\">166 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3227em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_626\">139,413 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7308em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_562\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5458em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_689\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6615em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9133em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.3015em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_689\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8033em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_689\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5515em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_436\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6608em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9127em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.3071em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_436\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.809em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_436\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7415em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0379em;\">Non-derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7427em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_388\">2,842,528 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.1071em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_469\">1,186,791 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.5771em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_320\">7,333 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5321em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_429\">4,036,652 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1083em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_737\">3,921,615 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7415em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">Derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:53.4008em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:57.6527em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9046em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:66.1565em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:70.6583em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2189em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">Financial liabilities due within one year of DKK 2,821 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.052em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">million (DKK 2,843 million) are expected to be settled \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8852em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">with short term assets recognized as of December 31, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.7183em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">2024, consisting of cash and cash equivalents, securities \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5514em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">together with trade receivables and other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3845em;\"><span class=\"stl_353 stl_15 stl_63\" style=\"word-spacing:-0.0242em;\">to a total of DKK 3,394 million (DKK 3,706 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0514em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">The financial liabilities due after one year of DKK 95 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8845em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0253em;\">million (DKK 1,194 million) are expected to be settled \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.7177em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">with the excess short term assets of DKK 573 million \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5508em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0313em;\">(DKK 863 million) in conjunction with expected cash \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3839em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">flow from future operations. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0508em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">To further mitigate potential liquidity fluctuations, the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8839em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">Group obtained access to a Revolving Credit Facility of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.717em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">DKK 1,000 million in 2023. The facility was undrawn as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5502em;\"><span class=\"stl_353 stl_15 stl_180\" style=\"word-spacing:-0.0237em;\">of December 31, 2024. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.217em;\"><span class=\"stl_353 stl_15 stl_51\" 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:4.7244em;top:26.0502em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0265em;\">20 million) at Nordea. As of December 31, 2024, DKK 0.3 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8833em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">million (DKK 0.3 million) of the credit facility is utilized \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.7164em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0337em;\">for bank guarantees. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.3833em;\"><span class=\"stl_353 stl_15 stl_75\" 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:4.7244em;top:30.2164em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">change in the applicable interest rate by 1 percentage \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.0495em;\"><span class=\"stl_353 stl_15 stl_41\" 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:4.7244em;top:31.8827em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0252em;\">result and equity of DKK 0.1 million (DKK 0.2 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5495em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">Debt to credit institutions is a mortgage loan of DKK 15.1 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.3827em;\"><span class=\"stl_353 stl_15 stl_189\" style=\"word-spacing:-0.025em;\">million (DKK 17.1 million), further described in note 25. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.0439em;\"><span class=\"stl_352 stl_12 stl_264\" style=\"word-spacing:-0.0389em;\">Credit risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.8827em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">The primary credit risk relates to trade receivables. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:37.7158em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0323em;\">The Company assesses the expected credit losses also \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.2158em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">considering changes in the macro environment that \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0489em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">might impose an increased risk of losses. The Group\u00b4s \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.882em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0335em;\">customers are predominantly public authorities and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.7152em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">renowned pharmaceutical companies and wholesalers, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5483em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">and the credit risk on the Group's receivables is there- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3814em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0256em;\">fore considered to be very low. A loss allowance of DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.2145em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.0341em;\">2,995 thousand (DKK 3,227 thousand) has been recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.0477em;\"><span class=\"stl_353 stl_15 stl_36\" style=\"word-spacing:-0.0185em;\">nized as of December 31, 2024, cf. note 19. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.5895em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0256em;\">To manage credit risk regarding financial counterpar- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.4227em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">ties, Bavarian Nordic only enters into derivative finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.2558em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">cial contracts, repurchase contracts and money market \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.0889em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0319em;\">deposits with financial counterparties possessing a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.922em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">satisfactory long-term credit rating from at least two \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.7552em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0313em;\">out of the three selected ratings agencies: Standard and \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.5883em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">Poor\u2019s, Moody\u2019s and Fitch. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.1302em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0345em;\">Cash and cash equivalents are not deemed to be \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.9633em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">subject to any special credit risk as they are deposited \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.7964em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0344em;\">with Nordea and Danske Bank. The bond portfolio is \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.6295em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">invested in either Danish government bonds, Danish \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.4627em;\"><span class=\"stl_353 stl_15 stl_458\" style=\"word-spacing:-0.0365em;\">mortgage bonds or bonds issued by Danish banks with \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.2958em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">high ratings. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.8114em;\"><span class=\"stl_352 stl_12 stl_39\" style=\"word-spacing:-0.0401em;\">Managing capital structure \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.6295em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0323em;\">The Group's definition of capital encompasses equity \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.442em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.027em;\">together with net interest-bearing debt. The 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.2545em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">addition of net interest-bearing debt to the capital defi- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.067em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">nition, did accommodate the introduction of external \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.8795em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.0271em;\">capital as a resource for the Group in accordance with \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.692em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0283em;\">the conclusion of a committed Revolving Credit Facility \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:35.5045em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">in 2023, see further below. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:37.0258em;\"><span class=\"stl_353 stl_15 stl_46\" style=\"word-spacing:-0.0221em;\">As of December 31, 2024 (December 31, 2023) net inter- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:37.8383em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">est-bearing debt consists of deferred consideration, cf. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:10.212em;\"><span class=\"stl_353 stl_15 stl_48\" style=\"word-spacing:-0.0261em;\">note 24, debt to credit institutions, cf. note 25, lease \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.0245em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">liabilities, cf. note 27 with subtraction of cash and cash \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:11.837em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">equivalents together with securities, that in total forms \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.6495em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0277em;\">a net receivable of DKK 965 million (net debt DKK 655 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:13.462em;\"><span class=\"stl_353 stl_15 stl_292\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:14.9833em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">Total equity as of December 31, 2024, amounted to DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:15.7958em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">11,409 million (DKK 10,340 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.317em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0295em;\">The Group obtained in 2023 access to a committed \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:18.1295em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">Revolving Credit Facility (RCF) of DKK 1,000 million with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:18.942em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Nordea and Danske Bank as joint lenders. The facility \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:19.7545em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0252em;\">was undrawn as of December 31, 2024 (undrawn as of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:20.567em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">December 31, 2023). As an integrated part of the RCF \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:21.3795em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">agreement, the Group is subject to covenant require- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:22.192em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0251em;\">ments consisting of a net interest-bearing debt to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:23.0045em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">EBITDA ratio. The Group regularly secures that compli- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:23.817em;\"><span class=\"stl_353 stl_15 stl_53\" style=\"word-spacing:-0.0254em;\">ance with the covenant is met. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:25.3383em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">Management regularly assesses whether the Group\u00b4s \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:26.1508em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">capital structure best serves the interests of the Group \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:26.9633em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">and its shareholders. The overall goal is to ensure that \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:27.7758em;\"><span class=\"stl_353 stl_15 stl_83\" style=\"word-spacing:-0.037em;\">the Group has a capital structure which supports its \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:28.5883em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">long-term strategy and growth target. In supporting \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:29.4008em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0333em;\">this goal and to maintain the capital structure, the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:30.2133em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">Group can issue new shares, return capital to share- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:31.0258em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">holders, sell assets to reduce debt or increase the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:31.8383em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">groups debt obligations, including taking on bank debt \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:32.6508em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">and by way of deferred consideration, provided finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:33.4633em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">cial covenants are respected. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:34.9789em;\"><span class=\"stl_352 stl_12 stl_16\" style=\"word-spacing:-0.0301em;\">Securities (level 1) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:35.797em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">The portfolio of publicly traded government bonds, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:36.6095em;\"><span class=\"stl_353 stl_15 stl_94\" style=\"word-spacing:-0.0376em;\">publicly traded mortgage bonds and bank bonds is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:37.422em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">valued at listed prices and price quotas. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:10.207em;\"><span class=\"stl_352 stl_12 stl_165\" style=\"word-spacing:-0.0341em;\">Derivative financial instruments (level 2) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:11.0252em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0343em;\">Currency forward contracts, currency option contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:11.8377em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">and interest swap contracts are valued according to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:12.6502em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">generally accepted valuation methods based on rele- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:13.4627em;\"><span class=\"stl_353 stl_15 stl_422\" style=\"word-spacing:-0.0355em;\">vant observable swap curves and exchange rates. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Fair value hierarchy for financial instruments measured at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6569em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.3014em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0344em;top:11.2958em;\"><span class=\"stl_269 stl_12 stl_45\" style=\"word-spacing:-0.018em;\">Level 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6957em;top:11.2958em;\"><span class=\"stl_269 stl_12 stl_45\" style=\"word-spacing:-0.018em;\">Level 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:11.2958em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.927em;\"><span class=\"stl_277 stl_15 stl_392\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9375em;top:12.927em;\"><span class=\"stl_277 stl_15 stl_106\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5013em;top:12.927em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.26em;top:12.927em;\"><span class=\"stl_277 stl_15 stl_106\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:13.9433em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7744em;top:13.9433em;\"><span class=\"stl_269 stl_12 stl_143\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.4938em;top:13.9433em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.0975em;top:13.9433em;\"><span class=\"stl_269 stl_12 stl_143\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.5745em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Derivative financial instruments to hedge future cash flow (currency) \u00a0</span></div><div class=\"stl_01\" style=\"left:28.84em;top:15.5745em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.7444em;top:15.5745em;\"><span class=\"stl_277 stl_15 stl_674\">(29,902) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4057em;top:15.5745em;\"><span class=\"stl_277 stl_15 stl_674\">(29,902) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:16.5964em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flow (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8394em;top:16.5964em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.7294em;top:16.5964em;\"><span class=\"stl_277 stl_15 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3907em;top:16.5964em;\"><span class=\"stl_277 stl_15 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:17.6127em;\"><span class=\"stl_269 stl_12 stl_390\" style=\"word-spacing:-0.0372em;\">Financial assets/liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8319em;top:17.6127em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.555em;top:17.6127em;\"><span class=\"stl_269 stl_12 stl_357\">(29,204) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2163em;top:17.6127em;\"><span class=\"stl_269 stl_12 stl_133\">(29,204) \u00a0</span></div><div class=\"stl_01\" style=\"left:30.655em;top:19.4402em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:20.6452em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0332em;top:20.6395em;\"><span class=\"stl_269 stl_12 stl_45\" style=\"word-spacing:-0.018em;\">Level 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6944em;top:20.6395em;\"><span class=\"stl_269 stl_12 stl_45\" style=\"word-spacing:-0.018em;\">Level 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.97em;top:20.6395em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:22.2664em;\"><span class=\"stl_277 stl_15 stl_392\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9207em;top:22.2664em;\"><span class=\"stl_277 stl_15 stl_442\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5em;top:22.2664em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2432em;top:22.2664em;\"><span class=\"stl_277 stl_15 stl_442\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:23.2827em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7463em;top:23.2827em;\"><span class=\"stl_269 stl_12 stl_57\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.4925em;top:23.2827em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.0694em;top:23.2827em;\"><span class=\"stl_269 stl_12 stl_57\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:24.9139em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Derivative financial instruments to hedge future cash flow (currency) \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8388em;top:24.9139em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.8888em;top:24.9139em;\"><span class=\"stl_277 stl_15 stl_535\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.55em;top:24.9139em;\"><span class=\"stl_277 stl_15 stl_535\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:25.9358em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flow (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8382em;top:25.9358em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.3213em;top:25.9358em;\"><span class=\"stl_277 stl_15 stl_738\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9825em;top:25.9358em;\"><span class=\"stl_277 stl_15 stl_738\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:26.952em;\"><span class=\"stl_269 stl_12 stl_390\" style=\"word-spacing:-0.0372em;\">Financial assets/liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8307em;top:26.952em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.7438em;top:26.952em;\"><span class=\"stl_269 stl_12 stl_215\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.405em;top:26.952em;\"><span class=\"stl_269 stl_12 stl_215\">45,887 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8845": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_208\" style=\"word-spacing:-0.0095em;\">Note 23 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_382\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.212em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9895em;top:10.2188em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:11.9032em;\"><span class=\"stl_269 stl_12 stl_392\" style=\"word-spacing:-0.0362em;\">Categories of financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_189\" style=\"word-spacing:-0.025em;\">Trade receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1195em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_665\">1,175,744 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.827em;top:12.9307em;\"><span class=\"stl_277 stl_15 stl_362\">1,778,104 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">Other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8014em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_232\">52,053 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5708em;top:13.9525em;\"><span class=\"stl_277 stl_15 stl_214\">60,434 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0356em;\">Cash and cash equivalents \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9895em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_205\">1,623,490 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7964em;top:14.9744em;\"><span class=\"stl_277 stl_15 stl_142\">1,477,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.9907em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Financial assets measured at amortized cost \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7702em;top:15.9907em;\"><span class=\"stl_269 stl_12 stl_298\">2,851,287 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5652em;top:15.9907em;\"><span class=\"stl_269 stl_12 stl_101\">3,315,772 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.6219em;\"><span class=\"stl_277 stl_15 stl_392\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4964em;top:17.6219em;\"><span class=\"stl_277 stl_15 stl_106\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2602em;top:17.6219em;\"><span class=\"stl_277 stl_15 stl_442\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:18.6382em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3333em;top:18.6382em;\"><span class=\"stl_269 stl_12 stl_143\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0858em;top:18.6382em;\"><span class=\"stl_269 stl_12 stl_57\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Derivative financial instruments to hedge future cash flows (exchange rate) \u00a0</span></div><div class=\"stl_01\" style=\"left:66.3983em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.5664em;top:20.2694em;\"><span class=\"stl_277 stl_15 stl_535\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flows (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:65.6264em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9989em;top:21.2913em;\"><span class=\"stl_277 stl_15 stl_341\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:22.3076em;\"><span class=\"stl_269 stl_12 stl_89\" style=\"word-spacing:-0.0382em;\">Financial assets used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:65.5583em;top:22.3076em;\"><span class=\"stl_269 stl_12 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4214em;top:22.3076em;\"><span class=\"stl_269 stl_12 stl_215\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:23.9388em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:63.9964em;top:23.9388em;\"><span class=\"stl_277 stl_15 stl_477\">1,081,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.7739em;top:23.9388em;\"><span class=\"stl_277 stl_15 stl_382\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:24.9607em;\"><span class=\"stl_277 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">Debt to credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8977em;top:24.9607em;\"><span class=\"stl_277 stl_15 stl_413\">15,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6339em;top:24.9607em;\"><span class=\"stl_277 stl_15 stl_327\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5839em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_728\">113,123 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2402em;top:25.9826em;\"><span class=\"stl_277 stl_15 stl_562\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7383em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Prepayment from customers \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4952em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_136\">131,408 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1764em;top:27.0044em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7377em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0639em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_327\">1,045,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3102em;top:28.0263em;\"><span class=\"stl_277 stl_15 stl_673\">954,142 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7377em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5164em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_373\">467,555 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3014em;top:29.0482em;\"><span class=\"stl_277 stl_15 stl_620\">419,843 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:30.0644em;\"><span class=\"stl_269 stl_12 stl_195\" style=\"word-spacing:-0.0353em;\">Financial liabilities measured at amortized cost \u00a0</span></div><div class=\"stl_01\" style=\"left:63.7752em;top:30.0644em;\"><span class=\"stl_269 stl_12 stl_27\">2,853,812 \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5508em;top:30.0644em;\"><span class=\"stl_269 stl_12 stl_301\">3,896,276 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.737em;top:31.6957em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Derivative financial instruments to hedge future cash flows (exchange rate) \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8352em;top:31.6957em;\"><span class=\"stl_277 stl_15 stl_201\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1752em;top:31.6957em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7364em;top:32.7119em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0385em;\">Financial liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.697em;top:32.7119em;\"><span class=\"stl_269 stl_12 stl_688\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1677em;top:32.7119em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:20.9239em;\"><span class=\"stl_352 stl_12 stl_473\" style=\"word-spacing:-0.0358em;\">Derivative financial instruments not designated as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:21.7571em;\"><span class=\"stl_352 stl_12 stl_91\" style=\"word-spacing:-0.0338em;\">hedge accounting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:22.5958em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0345em;\">Currency forward contracts and currency option \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:23.4289em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0319em;\">contracts which are not designated as hedge \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:24.2621em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">accounting are classified as financial assets/liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:25.0952em;\"><span class=\"stl_353 stl_15 stl_55\" 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:25.9283em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">nized through the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:27.5952em;\"><span class=\"stl_353 stl_15 stl_92\" 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:28.4283em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.0271em;\">31, 2024 or as per December 31, 2023 not designated as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:29.2614em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0323em;\">hedge accounting. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8846": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.1999em;\"><span class=\"stl_352 stl_12 stl_22\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_284\" 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:14.5387em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">Directly attributable costs related to the purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3718em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">or issuance of the individual financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_353 stl_15 stl_54\" 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:17.0381em;\"><span class=\"stl_353 stl_15 stl_25\" 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:17.8712em;\"><span class=\"stl_353 stl_15 stl_68\" 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:18.7043em;\"><span class=\"stl_353 stl_15 stl_433\" 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:19.5374em;\"><span class=\"stl_353 stl_15 stl_48\" 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:20.3706em;\"><span class=\"stl_353 stl_15 stl_275\" 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:21.2037em;\"><span class=\"stl_353 stl_15 stl_32\" 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:22.0368em;\"><span class=\"stl_353 stl_15 stl_24\" 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:22.8699em;\"><span class=\"stl_353 stl_15 stl_285\">ment. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5368em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">The Company has designated certain derivative finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3699em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">cial instruments as cash flow hedges as defined under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2031em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">IFRS 9 \"Financial Instruments\". Hedge accounting is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0362em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">classified as a cash flow hedge when the hedges of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8693em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">a particular risk is associated with the cash flows of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7024em;\"><span class=\"stl_353 stl_15 stl_422\" style=\"word-spacing:-0.0355em;\">highly probable forecast transactions. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3693em;\"><span class=\"stl_353 stl_15 stl_21\" 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:31.2024em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">ments designated as and qualifying for recognition \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.0356em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">as effective hedges of future transactions (cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2024em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0262em;\">hedges) are recognized as comprehensive income. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0356em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">The ineffective portion is recognized immediately in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8687em;\"><span class=\"stl_353 stl_15 stl_74\" style=\"word-spacing:-0.036em;\">the income statement. When the hedged transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7018em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">are realized, cumulative changes are recognized in the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5349em;z-index:2515;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0333em;\">income statement together with the hedged transa</span><span class=\"stl_353 stl_15 stl_574\">c</span><span class=\"stl_353 stl_15 stl_574\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3681em;\"><span class=\"stl_353 stl_15 stl_51\" 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:21.7325em;top:16.2012em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0345em;\">cost of the transactions in question. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8681em;\"><span class=\"stl_353 stl_15 stl_290\" 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:18.7012em;\"><span class=\"stl_353 stl_15 stl_85\" 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:19.5343em;\"><span class=\"stl_353 stl_15 stl_183\" 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:20.3674em;\"><span class=\"stl_353 stl_15 stl_699\">occur. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8847": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.1999em;\"><span class=\"stl_352 stl_12 stl_22\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_284\" 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:14.5387em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">Directly attributable costs related to the purchase \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.3718em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">or issuance of the individual financial instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.2049em;\"><span class=\"stl_353 stl_15 stl_54\" 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:17.0381em;\"><span class=\"stl_353 stl_15 stl_25\" 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:17.8712em;\"><span class=\"stl_353 stl_15 stl_68\" 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:18.7043em;\"><span class=\"stl_353 stl_15 stl_433\" 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:19.5374em;\"><span class=\"stl_353 stl_15 stl_48\" 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:20.3706em;\"><span class=\"stl_353 stl_15 stl_275\" 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:21.2037em;\"><span class=\"stl_353 stl_15 stl_32\" 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:22.0368em;\"><span class=\"stl_353 stl_15 stl_24\" 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:22.8699em;\"><span class=\"stl_353 stl_15 stl_285\">ment. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.5368em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">The Company has designated certain derivative finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3699em;\"><span class=\"stl_353 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">cial instruments as cash flow hedges as defined under \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2031em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">IFRS 9 \"Financial Instruments\". Hedge accounting is \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0362em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">classified as a cash flow hedge when the hedges of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8693em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">a particular risk is associated with the cash flows of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7024em;\"><span class=\"stl_353 stl_15 stl_422\" style=\"word-spacing:-0.0355em;\">highly probable forecast transactions. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3693em;\"><span class=\"stl_353 stl_15 stl_21\" 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:31.2024em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">ments designated as and qualifying for recognition \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.0356em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">as effective hedges of future transactions (cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2024em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0262em;\">hedges) are recognized as comprehensive income. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.0356em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">The ineffective portion is recognized immediately in \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8687em;\"><span class=\"stl_353 stl_15 stl_74\" style=\"word-spacing:-0.036em;\">the income statement. When the hedged transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.7018em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">are realized, cumulative changes are recognized in the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.5349em;z-index:2515;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0333em;\">income statement together with the hedged transa</span><span class=\"stl_353 stl_15 stl_574\">c</span><span class=\"stl_353 stl_15 stl_574\">- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.3681em;\"><span class=\"stl_353 stl_15 stl_51\" 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:21.7325em;top:16.2012em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0345em;\">cost of the transactions in question. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.8681em;\"><span class=\"stl_353 stl_15 stl_290\" 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:18.7012em;\"><span class=\"stl_353 stl_15 stl_85\" 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:19.5343em;\"><span class=\"stl_353 stl_15 stl_183\" 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:20.3674em;\"><span class=\"stl_353 stl_15 stl_699\">occur. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.0287em;\"><span class=\"stl_352 stl_12 stl_458\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.8674em;\"><span class=\"stl_353 stl_15 stl_55\" 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:23.7006em;\"><span class=\"stl_353 stl_15 stl_16\" 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:24.5337em;\"><span class=\"stl_353 stl_15 stl_288\" 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:25.3668em;\"><span class=\"stl_353 stl_15 stl_35\" 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:26.1999em;\"><span class=\"stl_353 stl_15 stl_35\" 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:27.033em;\"><span class=\"stl_353 stl_15 stl_68\" 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:27.8662em;\"><span class=\"stl_353 stl_15 stl_190\" 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:28.6993em;\"><span class=\"stl_353 stl_15 stl_61\">policy. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3662em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">Both realized and unrealized value adjustments are \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.1993em;\"><span class=\"stl_353 stl_15 stl_25\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8856": {
   "value": "<div class=\"stl_01\" style=\"left:4.714em;top:10.3283em;\"><span class=\"stl_352 stl_12 stl_39\" 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_353 stl_15 stl_289\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_63\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_91\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_179\" 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_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">position and cash flow budgets. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8858": {
   "value": "<div class=\"stl_01\" style=\"left:4.714em;top:10.3283em;\"><span class=\"stl_352 stl_12 stl_39\" 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_353 stl_15 stl_289\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_63\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_91\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_179\" 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_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">position and cash flow budgets. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8859": {
   "value": "<div class=\"stl_01\" style=\"left:4.714em;top:10.3283em;\"><span class=\"stl_352 stl_12 stl_39\" 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_353 stl_15 stl_289\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_68\" 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_353 stl_15 stl_63\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_92\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_146\" 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_353 stl_15 stl_85\" 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_353 stl_15 stl_91\" 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_353 stl_15 stl_274\" 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_353 stl_15 stl_179\" 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_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">position and cash flow budgets. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2189em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">Financial liabilities due within one year of DKK 2,821 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.052em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">million (DKK 2,843 million) are expected to be settled \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8852em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">with short term assets recognized as of December 31, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.7183em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">2024, consisting of cash and cash equivalents, securities \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5514em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">together with trade receivables and other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3845em;\"><span class=\"stl_353 stl_15 stl_63\" style=\"word-spacing:-0.0242em;\">to a total of DKK 3,394 million (DKK 3,706 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0514em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">The financial liabilities due after one year of DKK 95 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8845em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0253em;\">million (DKK 1,194 million) are expected to be settled \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.7177em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">with the excess short term assets of DKK 573 million \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5508em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0313em;\">(DKK 863 million) in conjunction with expected cash \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3839em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">flow from future operations. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0508em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">To further mitigate potential liquidity fluctuations, the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8839em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">Group obtained access to a Revolving Credit Facility of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.717em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">DKK 1,000 million in 2023. The facility was undrawn as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5502em;\"><span class=\"stl_353 stl_15 stl_180\" style=\"word-spacing:-0.0237em;\">of December 31, 2024. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.217em;\"><span class=\"stl_353 stl_15 stl_51\" 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:4.7244em;top:26.0502em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0265em;\">20 million) at Nordea. As of December 31, 2024, DKK 0.3 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8833em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">million (DKK 0.3 million) of the credit facility is utilized \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.7164em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0337em;\">for bank guarantees. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.3833em;\"><span class=\"stl_353 stl_15 stl_75\" 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:4.7244em;top:30.2164em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">change in the applicable interest rate by 1 percentage \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.0495em;\"><span class=\"stl_353 stl_15 stl_41\" 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:4.7244em;top:31.8827em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0252em;\">result and equity of DKK 0.1 million (DKK 0.2 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5495em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">Debt to credit institutions is a mortgage loan of DKK 15.1 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.3827em;\"><span class=\"stl_353 stl_15 stl_189\" style=\"word-spacing:-0.025em;\">million (DKK 17.1 million), further described in note 25. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8867": {
   "value": "<div class=\"stl_01\" style=\"left:21.7271em;top:15.3226em;\"><span class=\"stl_352 stl_12 stl_223\" 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_353 stl_15 stl_192\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_51\" 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_353 stl_15 stl_16\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_83\" 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_353 stl_15 stl_282\" style=\"word-spacing:-0.035em;\">option contracts. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:23.6601em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">The exposure to EUR for operating and financing activ- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:24.4932em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">ities are not hedged as management believes that \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:25.3264em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">fluctuations in EUR are limited due to the Danish fixed- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:26.1595em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0329em;\">rate policy which is expected to be maintained and that \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:26.9926em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">matching of incoming and outgoing payments denom- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:27.8257em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0267em;\">inated in EUR reduces the net exposure significantly. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:28.6589em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Thus the fluctuations in EUR do not have a significant \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:29.492em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">impact on financial performance. Given the magnitude \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:30.3251em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">of payable milestones denominated in EUR, manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:31.1582em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">ment has chosen to hedge the EUR exposure on this \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:31.9914em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">part of the Group's investment activities. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.3889em;\"><span class=\"stl_269 stl_12 stl_74\" 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_269 stl_12 stl_74\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:55.1045em;top:12.2789em;\"><span class=\"stl_269 stl_12 stl_390\" style=\"word-spacing:-0.0372em;\">and cash \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0189em;top:13.0289em;\"><span class=\"stl_269 stl_12 stl_264\">equivalents, \u00a0</span></div><div class=\"stl_01\" style=\"left:69.3877em;top:13.0289em;\"><span class=\"stl_269 stl_12 stl_51\">Net \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7845em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:54.8502em;top:13.7789em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:0.9856em;\">securities Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:63.332em;top:13.7789em;\"><span class=\"stl_269 stl_12 stl_164\">Liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0345em;top:13.7789em;\"><span class=\"stl_269 stl_12 stl_422\">position \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.4632em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.4907em;\"><span class=\"stl_277 stl_15 stl_46\">USD \u00a0</span></div><div class=\"stl_01\" style=\"left:55.4858em;top:16.4907em;\"><span class=\"stl_277 stl_15 stl_383\">334,980 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.9214em;top:16.4907em;\"><span class=\"stl_277 stl_15 stl_425\">619,176 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3395em;top:16.4907em;\"><span class=\"stl_277 stl_15 stl_144\">(1,218,425) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0508em;top:16.4907em;\"><span class=\"stl_277 stl_15 stl_424\">(264,269) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:17.5126em;\"><span class=\"stl_277 stl_15 stl_74\">EUR \u00a0</span></div><div class=\"stl_01\" style=\"left:55.4683em;top:17.5126em;\"><span class=\"stl_277 stl_15 stl_338\">208,849 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.7258em;top:17.5126em;\"><span class=\"stl_277 stl_15 stl_427\">660,007 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3127em;top:17.5126em;\"><span class=\"stl_277 stl_15 stl_381\">(1,530,566) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.127em;top:17.5126em;\"><span class=\"stl_277 stl_15 stl_702\">(661,710) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:18.5345em;\"><span class=\"stl_277 stl_15 stl_309\">CHF \u00a0</span></div><div class=\"stl_01\" style=\"left:56.1439em;top:18.5345em;\"><span class=\"stl_277 stl_15 stl_402\">8,473 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.1145em;top:18.5345em;\"><span class=\"stl_277 stl_15 stl_575\">39,541 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.782em;top:18.5345em;\"><span class=\"stl_277 stl_15 stl_543\">(206,248) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0539em;top:18.5345em;\"><span class=\"stl_277 stl_15 stl_59\">(158,234) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:20.1545em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:21.182em;\"><span class=\"stl_277 stl_15 stl_46\">USD \u00a0</span></div><div class=\"stl_01\" style=\"left:55.5252em;top:21.182em;\"><span class=\"stl_277 stl_15 stl_149\">205,315 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.2752em;top:21.182em;\"><span class=\"stl_277 stl_15 stl_163\">1,334,432 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.8589em;top:21.182em;\"><span class=\"stl_277 stl_15 stl_449\">(945,701) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.237em;top:21.182em;\"><span class=\"stl_277 stl_15 stl_214\">594,046 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:22.2039em;\"><span class=\"stl_277 stl_15 stl_74\">EUR \u00a0</span></div><div class=\"stl_01\" style=\"left:55.5608em;top:22.2039em;\"><span class=\"stl_277 stl_15 stl_376\">149,934 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.7664em;top:22.2039em;\"><span class=\"stl_277 stl_15 stl_357\">455,057 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.372em;top:22.2039em;\"><span class=\"stl_277 stl_15 stl_414\">(2,679,716) \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5839em;top:22.2039em;\"><span class=\"stl_277 stl_15 stl_112\">(2,074,725) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.2257em;\"><span class=\"stl_277 stl_15 stl_309\">CHF \u00a0</span></div><div class=\"stl_01\" style=\"left:55.8433em;top:23.2257em;\"><span class=\"stl_277 stl_15 stl_113\">10,281 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.3983em;top:23.2257em;\"><span class=\"stl_277 stl_15 stl_451\">4,649 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.837em;top:23.2257em;\"><span class=\"stl_277 stl_15 stl_151\">(181,627) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.062em;top:23.2257em;\"><span class=\"stl_277 stl_15 stl_153\">(166,697) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.4489em;\"><span class=\"stl_269 stl_12 stl_195\" 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_269 stl_12 stl_374\" style=\"word-spacing:-0.034em;\">Likely change</span></div><div class=\"stl_01\" style=\"left:66.704em;top:26.5889em;\"><span class=\"stl_269 stl_12 stl_378\" style=\"word-spacing:0.6074em;\">Hypothetical Hypothetical \u00a0</span></div><div class=\"stl_01\" style=\"left:58.3814em;top:27.3389em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0348em;\">in exchange \u00a0</span></div><div class=\"stl_01\" style=\"left:63.3258em;top:27.3389em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0383em;\">change in \u00a0</span></div><div class=\"stl_01\" style=\"left:67.5777em;top:27.3389em;\"><span class=\"stl_269 stl_12 stl_334\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7289em;top:28.0889em;\"><span class=\"stl_269 stl_12 stl_297\">rate \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2739em;top:28.0889em;\"><span class=\"stl_269 stl_12 stl_508\">equity \u00a0</span></div><div class=\"stl_01\" style=\"left:67.6102em;top:28.0889em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">net result \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.7732em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:30.8007em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">Change if higher USD-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0227em;top:30.8007em;\"><span class=\"stl_277 stl_15 stl_29\">8% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3033em;top:30.8007em;\"><span class=\"stl_277 stl_15 stl_210\">30,868 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5883em;top:30.8007em;\"><span class=\"stl_277 stl_15 stl_361\">29,544 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.8226em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">Change if higher EUR-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0258em;top:31.8226em;\"><span class=\"stl_277 stl_15 stl_207\">2% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1414em;top:31.8226em;\"><span class=\"stl_277 stl_15 stl_112\">(12,725) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3877em;top:31.8226em;\"><span class=\"stl_277 stl_15 stl_161\">(18,385) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:32.8445em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">Change if higher CHF-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0158em;top:32.8445em;\"><span class=\"stl_277 stl_15 stl_95\">9% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3464em;top:32.8445em;\"><span class=\"stl_277 stl_15 stl_137\">54,515 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4483em;top:32.8445em;\"><span class=\"stl_277 stl_15 stl_729\">(17,809) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:34.4645em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:35.492em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">Change if higher USD-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7208em;top:35.492em;\"><span class=\"stl_277 stl_15 stl_398\">15% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.057em;top:35.492em;\"><span class=\"stl_277 stl_15 stl_244\">110,532 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2977em;top:35.492em;\"><span class=\"stl_277 stl_15 stl_518\">118,270 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:36.5139em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">Change if higher EUR-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0489em;top:36.5139em;\"><span class=\"stl_277 stl_15 stl_633\">1% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1727em;top:36.5139em;\"><span class=\"stl_277 stl_15 stl_374\">(19,347) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3827em;top:36.5139em;\"><span class=\"stl_277 stl_15 stl_366\">(21,505) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7396em;top:37.5357em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">Change if higher CHF-rate than actual rate \u00a0</span></div><div class=\"stl_01\" style=\"left:61.0314em;top:37.5357em;\"><span class=\"stl_277 stl_15 stl_38\">5% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3852em;top:37.5357em;\"><span class=\"stl_277 stl_15 stl_566\">29,518 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8027em;top:37.5357em;\"><span class=\"stl_277 stl_15 stl_730\">(8,117) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:10.0983em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">The sensitivity analysis shows the net effect it would \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:10.9314em;\"><span class=\"stl_353 stl_15 stl_274\" 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:4.7243em;top:11.7646em;\"><span class=\"stl_353 stl_15 stl_33\" 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:4.7243em;top:12.5977em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0287em;\">8%, 2% or 9%, respectively (USD, EUR and CHF had \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:13.4308em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.027em;\">been 15%, 1% or 5%, respectively), higher than the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:14.2639em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">actual exchange rates. A corresponding decrease in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:15.0971em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">the actual exchange rates would have had an opposite \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:15.9302em;\"><span class=\"stl_353 stl_15 stl_53\" style=\"word-spacing:-0.0254em;\">(positive/negative) effect on net result and equity. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:16.7633em;\"><span class=\"stl_353 stl_15 stl_182\" style=\"word-spacing:-0.0232em;\">percentages used year-end 2024 for USD and CHF are \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:17.5964em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">based on the historical maximal currency rate spread \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:18.4296em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">in 2024. The percentage used for EUR is based on the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:19.2627em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0337em;\">maximum spread in the ERM II framework. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:10.1558em;\"><span class=\"stl_269 stl_12 stl_74\" style=\"word-spacing:-0.0361em;\">Cash flow hedge \u2013 forward currency contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8117em;top:11.2952em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5498em;top:12.0046em;\"><span class=\"stl_269 stl_12 stl_91\">Contract \u00a0</span></div><div class=\"stl_01\" style=\"left:50.2942em;top:12.0033em;\"><span class=\"stl_269 stl_12 stl_223\">adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6917em;top:12.7127em;\"><span class=\"stl_269 stl_12 stl_390\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:45.851em;top:12.7121em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:49.7498em;top:12.7114em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0306em;\">recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8573em;top:13.4214em;\"><span class=\"stl_269 stl_12 stl_458\">Forward \u00a0</span></div><div class=\"stl_01\" style=\"left:41.316em;top:13.4208em;\"><span class=\"stl_269 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">based on \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2835em;top:13.4196em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:49.496em;top:13.4196em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0366em;\">other compre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:14.1352em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7992em;top:14.1296em;\"><span class=\"stl_269 stl_12 stl_41\">price \u00a0</span></div><div class=\"stl_01\" style=\"left:40.2923em;top:14.1289em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0302em;\">agreed rates \u00a0</span></div><div class=\"stl_01\" style=\"left:44.8904em;top:14.1277em;\"><span class=\"stl_269 stl_12 stl_44\" style=\"word-spacing:-0.0258em;\">December 31</span></div><div class=\"stl_01\" style=\"left:49.189em;top:14.1277em;\"><span class=\"stl_269 stl_12 stl_470\" style=\"word-spacing:-0.0338em;\">hensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:15.7889em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:16.7696em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Forward currency contracts (USD/DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5417em;top:16.7696em;z-index:2477;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">Sell USD</span></div><div class=\"stl_01\" style=\"left:36.454em;top:16.7696em;z-index:2477;\"><span class=\"stl_277 stl_15 stl_376\" style=\"word-spacing:0.0347em;\">6.76 - </span><span class=\"stl_277 stl_15 stl_604\">7</span><span class=\"stl_277 stl_15 stl_107\">.07 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.306em;top:16.7696em;\"><span class=\"stl_277 stl_15 stl_460\">1,832,534 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7004em;top:16.7696em;\"><span class=\"stl_277 stl_15 stl_696\">(37,980) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4654em;top:16.7696em;z-index:2505;\"><span class=\"stl_277 stl_15 stl_37\">(7</span><span class=\"stl_277 stl_15 stl_648\">7</span><span class=\"stl_277 stl_15 stl_731\">,165) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:17.7446em;\"><span class=\"stl_277 stl_15 stl_90\" style=\"word-spacing:-0.0343em;\">Forward currency contracts (DKK/EUR) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5417em;top:17.7446em;z-index:2555;\"><span class=\"stl_277 stl_15 stl_93\" style=\"word-spacing:-0.039em;\">Buy EUR</span></div><div class=\"stl_01\" style=\"left:36.474em;top:17.7446em;z-index:2555;\"><span class=\"stl_277 stl_15 stl_604\">7</span><span class=\"stl_277 stl_15 stl_686\" style=\"word-spacing:0.0388em;\">.40 - 7.41 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3329em;top:17.7446em;\"><span class=\"stl_277 stl_15 stl_128\">1,333,378 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.186em;top:17.7446em;\"><span class=\"stl_277 stl_15 stl_59\">8,078 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9023em;top:17.7446em;\"><span class=\"stl_277 stl_15 stl_322\">2,479 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5285em;top:18.7139em;\"><span class=\"stl_269 stl_12 stl_658\">(29,902) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2142em;top:18.7139em;\"><span class=\"stl_269 stl_12 stl_59\">(74,686) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:20.2452em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Forward currency contracts (USD/DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5423em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">Sell USD</span></div><div class=\"stl_01\" style=\"left:36.351em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_58\" style=\"word-spacing:-0.002em;\">6.90 - 6.94 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3142em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_102\">1,454,570 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.941em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_732\">39,184 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.0154em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_733\">9,159 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:22.2008em;\"><span class=\"stl_277 stl_15 stl_90\" style=\"word-spacing:-0.0343em;\">Forward currency contracts (DKK/EUR) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5429em;top:22.2008em;z-index:2739;\"><span class=\"stl_277 stl_15 stl_93\" style=\"word-spacing:-0.039em;\">Buy EUR</span></div><div class=\"stl_01\" style=\"left:36.485em;top:22.2008em;z-index:2739;\"><span class=\"stl_277 stl_15 stl_604\">7</span><span class=\"stl_277 stl_15 stl_588\" style=\"word-spacing:0.0452em;\">.41 - 7.42 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.4135em;top:22.2008em;\"><span class=\"stl_277 stl_15 stl_98\">2,150,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1642em;top:22.2008em;\"><span class=\"stl_277 stl_15 stl_445\">5,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8885em;top:22.2008em;\"><span class=\"stl_277 stl_15 stl_445\">5,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6954em;top:23.1702em;\"><span class=\"stl_269 stl_12 stl_538\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4679em;top:23.1702em;\"><span class=\"stl_269 stl_12 stl_158\">14,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:25.3758em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0305em;\">Cash flow hedge \u2013 interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8117em;top:26.5152em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5498em;top:27.2246em;\"><span class=\"stl_269 stl_12 stl_91\">Contract \u00a0</span></div><div class=\"stl_01\" style=\"left:50.2942em;top:27.2233em;\"><span class=\"stl_269 stl_12 stl_223\">adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6917em;top:27.9327em;\"><span class=\"stl_269 stl_12 stl_390\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:45.851em;top:27.9321em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:49.7498em;top:27.9314em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0306em;\">recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:41.316em;top:28.6408em;\"><span class=\"stl_269 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">based on \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2835em;top:28.6396em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:49.496em;top:28.6396em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0366em;\">other compre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:29.3552em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:40.2923em;top:29.3489em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0302em;\">agreed rates \u00a0</span></div><div class=\"stl_01\" style=\"left:44.8904em;top:29.3477em;\"><span class=\"stl_269 stl_12 stl_44\" style=\"word-spacing:-0.0258em;\">December 31</span></div><div class=\"stl_01\" style=\"left:49.189em;top:29.3477em;\"><span class=\"stl_269 stl_12 stl_470\" style=\"word-spacing:-0.0338em;\">hensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:31.0089em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:31.9839em;\"><span class=\"stl_269 stl_12 stl_67\" style=\"word-spacing:-0.0283em;\">Interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:32.9646em;\"><span class=\"stl_277 stl_15 stl_504\" style=\"word-spacing:-0.0135em;\">DKK - fixed rate 0.9625% p.a. (expiry 2031) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1148em;top:32.9646em;\"><span class=\"stl_277 stl_15 stl_383\">14,880 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6729em;top:32.9646em;\"><span class=\"stl_277 stl_15 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1942em;top:32.9646em;\"><span class=\"stl_277 stl_15 stl_120\">(405) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6048em;top:33.9339em;\"><span class=\"stl_269 stl_12 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1067em;top:33.9339em;\"><span class=\"stl_269 stl_12 stl_136\">(405) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:35.4652em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:36.4402em;\"><span class=\"stl_269 stl_12 stl_67\" style=\"word-spacing:-0.0283em;\">Interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:37.4208em;\"><span class=\"stl_277 stl_15 stl_504\" style=\"word-spacing:-0.0135em;\">DKK - fixed rate 0.9625% p.a. (expiry 2031) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2029em;top:37.4208em;\"><span class=\"stl_277 stl_15 stl_706\">17,041 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.266em;top:37.4208em;\"><span class=\"stl_277 stl_15 stl_341\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1967em;top:37.4208em;\"><span class=\"stl_277 stl_15 stl_149\">(766) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1385em;top:38.3902em;\"><span class=\"stl_269 stl_12 stl_734\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1123em;top:38.3902em;\"><span class=\"stl_269 stl_12 stl_158\">(766) \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8860": {
   "value": "<div class=\"stl_01\" style=\"left:4.714em;top:23.6595em;\"><span class=\"stl_352 stl_12 stl_94\" style=\"word-spacing:-0.0376em;\">Market risks \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:24.4983em;\"><span class=\"stl_353 stl_15 stl_288\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_195\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">treasury policy approved by the Audit Committee. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_22\" style=\"word-spacing:-0.0375em;\">Maturity of financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4239em;top:10.7645em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.9314em;top:11.8489em;\"><span class=\"stl_270 stl_77 stl_278\" style=\"word-spacing:-0.0307em;\">Undiscounted contractual cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2789em;top:12.927em;\"><span class=\"stl_269 stl_12 stl_17\">Due \u00a0</span></div><div class=\"stl_01\" style=\"left:49.9902em;top:13.677em;\"><span class=\"stl_269 stl_12 stl_550\" style=\"word-spacing:-0.0403em;\">Due within \u00a0</span></div><div class=\"stl_01\" style=\"left:54.3195em;top:13.677em;\"><span class=\"stl_269 stl_12 stl_433\" style=\"word-spacing:-0.0337em;\">between 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.9595em;top:13.677em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9827em;top:13.677em;\"><span class=\"stl_269 stl_12 stl_276\">Carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.4327em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.362em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_42\" style=\"word-spacing:-0.0233em;\">1 year</span></div><div class=\"stl_01\" style=\"left:54.069em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0307em;\">and 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:59.577em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_192\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4989em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1627em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_94\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:51.0689em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_587\">1,104,708 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6602em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.912em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:63.8252em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_587\">1,104,708 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2658em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_346\">1,081,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">Credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:52.112em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_62\">2,588 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.157em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_728\">10,162 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.6352em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_416\">4,345 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.632em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_721\">17,095 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.167em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_413\">15,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8464em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_688\">39,602 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.0614em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_296\">80,357 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.912em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.3327em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_735\">119,959 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8527em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_728\">113,123 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:19.137em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Prepayment from customers \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5064em;top:19.137em;\"><span class=\"stl_277 stl_15 stl_136\">131,408 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.262em;top:19.137em;\"><span class=\"stl_277 stl_15 stl_136\">131,408 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7639em;top:19.137em;\"><span class=\"stl_277 stl_15 stl_136\">131,408 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:51.0758em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_327\">1,045,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6608em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9127em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:63.8321em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_327\">1,045,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3339em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_327\">1,045,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5289em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_373\">467,555 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6608em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9127em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.2846em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_373\">467,555 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7864em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_373\">467,555 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0379em;\">Non-derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7771em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_57\">2,790,995 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.9408em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_643\">90,519 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.5077em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_313\">4,345 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5096em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_209\">2,885,859 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0452em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_27\">2,853,812 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">Derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7102em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_688\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6533em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9052em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.4664em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_688\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9683em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_688\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:24.9839em;\"><span class=\"stl_277 stl_15 stl_48\" style=\"word-spacing:-0.0262em;\">The outstanding deferred consideration as of December 31, 2024 is expected to be fully paid in first half of 2025, see \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:25.817em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">note 24 for further description. \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4246em;top:26.597em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.9327em;top:27.6814em;\"><span class=\"stl_270 stl_77 stl_278\" style=\"word-spacing:-0.0307em;\">Undiscounted contractual cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2802em;top:28.7595em;\"><span class=\"stl_269 stl_12 stl_17\">Due \u00a0</span></div><div class=\"stl_01\" style=\"left:49.9914em;top:29.5095em;\"><span class=\"stl_269 stl_12 stl_550\" style=\"word-spacing:-0.0403em;\">Due within \u00a0</span></div><div class=\"stl_01\" style=\"left:54.3208em;top:29.5095em;\"><span class=\"stl_269 stl_12 stl_433\" style=\"word-spacing:-0.0337em;\">between 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.9608em;top:29.5095em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9839em;top:29.5095em;\"><span class=\"stl_269 stl_12 stl_276\">Carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:30.2652em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3633em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_42\" style=\"word-spacing:-0.0233em;\">1 year</span></div><div class=\"stl_01\" style=\"left:54.071em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0307em;\">and 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:59.5783em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_192\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5002em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1639em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_94\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:50.9858em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_308\">1,394,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.2421em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_230\">1,082,525 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.9127em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:63.7771em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_38\">2,477,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2639em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_382\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">Credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1358em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_562\">2,720 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.0896em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_105\">10,698 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7689em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_736\">7,167 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5514em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_211\">20,586 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.1239em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_718\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8258em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_163\">45,679 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.0514em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_207\">93,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1433em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_156\">166 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3227em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_626\">139,413 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7308em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_562\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5458em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_689\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6615em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9133em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.3015em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_689\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8033em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_689\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5515em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_436\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6608em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9127em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.3071em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_436\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.809em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_436\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7415em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0379em;\">Non-derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7427em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_388\">2,842,528 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.1071em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_469\">1,186,791 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.5771em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_320\">7,333 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5321em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_429\">4,036,652 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1083em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_737\">3,921,615 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7415em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">Derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:53.4008em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:57.6527em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9046em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:66.1565em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:70.6583em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2189em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">Financial liabilities due within one year of DKK 2,821 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.052em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">million (DKK 2,843 million) are expected to be settled \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8852em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">with short term assets recognized as of December 31, \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.7183em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">2024, consisting of cash and cash equivalents, securities \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5514em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">together with trade receivables and other receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3845em;\"><span class=\"stl_353 stl_15 stl_63\" style=\"word-spacing:-0.0242em;\">to a total of DKK 3,394 million (DKK 3,706 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0514em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">The financial liabilities due after one year of DKK 95 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8845em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0253em;\">million (DKK 1,194 million) are expected to be settled \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.7177em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">with the excess short term assets of DKK 573 million \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5508em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0313em;\">(DKK 863 million) in conjunction with expected cash \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3839em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">flow from future operations. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0508em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">To further mitigate potential liquidity fluctuations, the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8839em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">Group obtained access to a Revolving Credit Facility of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.717em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">DKK 1,000 million in 2023. The facility was undrawn as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:23.5502em;\"><span class=\"stl_353 stl_15 stl_180\" style=\"word-spacing:-0.0237em;\">of December 31, 2024. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.217em;\"><span class=\"stl_353 stl_15 stl_51\" 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:4.7244em;top:26.0502em;\"><span class=\"stl_353 stl_15 stl_75\" style=\"word-spacing:-0.0265em;\">20 million) at Nordea. As of December 31, 2024, DKK 0.3 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8833em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">million (DKK 0.3 million) of the credit facility is utilized \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.7164em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0337em;\">for bank guarantees. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.3833em;\"><span class=\"stl_353 stl_15 stl_75\" 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:4.7244em;top:30.2164em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">change in the applicable interest rate by 1 percentage \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.0495em;\"><span class=\"stl_353 stl_15 stl_41\" 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:4.7244em;top:31.8827em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0252em;\">result and equity of DKK 0.1 million (DKK 0.2 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5495em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">Debt to credit institutions is a mortgage loan of DKK 15.1 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.3827em;\"><span class=\"stl_353 stl_15 stl_189\" style=\"word-spacing:-0.025em;\">million (DKK 17.1 million), further described in note 25. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8863": {
   "value": "<div class=\"stl_01\" style=\"left:4.714em;top:31.1583em;\"><span class=\"stl_352 stl_12 stl_67\" 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_353 stl_15 stl_190\" 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_353 stl_15 stl_287\" 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_353 stl_15 stl_275\" 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_353 stl_15 stl_32\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_433\" 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_353 stl_15 stl_283\" 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_353 stl_15 stl_288\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">pari settlement of securities in order to minimize value \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7271em;top:13.6614em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0344em;\">adjustment risks. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:10.1558em;\"><span class=\"stl_269 stl_12 stl_74\" style=\"word-spacing:-0.0361em;\">Cash flow hedge \u2013 forward currency contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8117em;top:11.2952em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5498em;top:12.0046em;\"><span class=\"stl_269 stl_12 stl_91\">Contract \u00a0</span></div><div class=\"stl_01\" style=\"left:50.2942em;top:12.0033em;\"><span class=\"stl_269 stl_12 stl_223\">adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6917em;top:12.7127em;\"><span class=\"stl_269 stl_12 stl_390\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:45.851em;top:12.7121em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:49.7498em;top:12.7114em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0306em;\">recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8573em;top:13.4214em;\"><span class=\"stl_269 stl_12 stl_458\">Forward \u00a0</span></div><div class=\"stl_01\" style=\"left:41.316em;top:13.4208em;\"><span class=\"stl_269 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">based on \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2835em;top:13.4196em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:49.496em;top:13.4196em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0366em;\">other compre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:14.1352em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:37.7992em;top:14.1296em;\"><span class=\"stl_269 stl_12 stl_41\">price \u00a0</span></div><div class=\"stl_01\" style=\"left:40.2923em;top:14.1289em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0302em;\">agreed rates \u00a0</span></div><div class=\"stl_01\" style=\"left:44.8904em;top:14.1277em;\"><span class=\"stl_269 stl_12 stl_44\" style=\"word-spacing:-0.0258em;\">December 31</span></div><div class=\"stl_01\" style=\"left:49.189em;top:14.1277em;\"><span class=\"stl_269 stl_12 stl_470\" style=\"word-spacing:-0.0338em;\">hensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:15.7889em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:16.7696em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Forward currency contracts (USD/DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5417em;top:16.7696em;z-index:2477;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">Sell USD</span></div><div class=\"stl_01\" style=\"left:36.454em;top:16.7696em;z-index:2477;\"><span class=\"stl_277 stl_15 stl_376\" style=\"word-spacing:0.0347em;\">6.76 - </span><span class=\"stl_277 stl_15 stl_604\">7</span><span class=\"stl_277 stl_15 stl_107\">.07 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.306em;top:16.7696em;\"><span class=\"stl_277 stl_15 stl_460\">1,832,534 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7004em;top:16.7696em;\"><span class=\"stl_277 stl_15 stl_696\">(37,980) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4654em;top:16.7696em;z-index:2505;\"><span class=\"stl_277 stl_15 stl_37\">(7</span><span class=\"stl_277 stl_15 stl_648\">7</span><span class=\"stl_277 stl_15 stl_731\">,165) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:17.7446em;\"><span class=\"stl_277 stl_15 stl_90\" style=\"word-spacing:-0.0343em;\">Forward currency contracts (DKK/EUR) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5417em;top:17.7446em;z-index:2555;\"><span class=\"stl_277 stl_15 stl_93\" style=\"word-spacing:-0.039em;\">Buy EUR</span></div><div class=\"stl_01\" style=\"left:36.474em;top:17.7446em;z-index:2555;\"><span class=\"stl_277 stl_15 stl_604\">7</span><span class=\"stl_277 stl_15 stl_686\" style=\"word-spacing:0.0388em;\">.40 - 7.41 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3329em;top:17.7446em;\"><span class=\"stl_277 stl_15 stl_128\">1,333,378 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.186em;top:17.7446em;\"><span class=\"stl_277 stl_15 stl_59\">8,078 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9023em;top:17.7446em;\"><span class=\"stl_277 stl_15 stl_322\">2,479 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.5285em;top:18.7139em;\"><span class=\"stl_269 stl_12 stl_658\">(29,902) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2142em;top:18.7139em;\"><span class=\"stl_269 stl_12 stl_59\">(74,686) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:20.2452em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.731em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Forward currency contracts (USD/DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5423em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">Sell USD</span></div><div class=\"stl_01\" style=\"left:36.351em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_58\" style=\"word-spacing:-0.002em;\">6.90 - 6.94 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.3142em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_102\">1,454,570 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.941em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_732\">39,184 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.0154em;top:21.2258em;\"><span class=\"stl_277 stl_15 stl_733\">9,159 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7317em;top:22.2008em;\"><span class=\"stl_277 stl_15 stl_90\" style=\"word-spacing:-0.0343em;\">Forward currency contracts (DKK/EUR) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5429em;top:22.2008em;z-index:2739;\"><span class=\"stl_277 stl_15 stl_93\" style=\"word-spacing:-0.039em;\">Buy EUR</span></div><div class=\"stl_01\" style=\"left:36.485em;top:22.2008em;z-index:2739;\"><span class=\"stl_277 stl_15 stl_604\">7</span><span class=\"stl_277 stl_15 stl_588\" style=\"word-spacing:0.0452em;\">.41 - 7.42 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.4135em;top:22.2008em;\"><span class=\"stl_277 stl_15 stl_98\">2,150,674 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1642em;top:22.2008em;\"><span class=\"stl_277 stl_15 stl_445\">5,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8885em;top:22.2008em;\"><span class=\"stl_277 stl_15 stl_445\">5,600 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.6954em;top:23.1702em;\"><span class=\"stl_269 stl_12 stl_538\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4679em;top:23.1702em;\"><span class=\"stl_269 stl_12 stl_158\">14,759 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:25.3758em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0305em;\">Cash flow hedge \u2013 interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8117em;top:26.5152em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5498em;top:27.2246em;\"><span class=\"stl_269 stl_12 stl_91\">Contract \u00a0</span></div><div class=\"stl_01\" style=\"left:50.2942em;top:27.2233em;\"><span class=\"stl_269 stl_12 stl_223\">adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6917em;top:27.9327em;\"><span class=\"stl_269 stl_12 stl_390\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:45.851em;top:27.9321em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0303em;\">Fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:49.7498em;top:27.9314em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0306em;\">recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:41.316em;top:28.6408em;\"><span class=\"stl_269 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">based on \u00a0</span></div><div class=\"stl_01\" style=\"left:47.2835em;top:28.6396em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:49.496em;top:28.6396em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0366em;\">other compre- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7323em;top:29.3552em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:40.2923em;top:29.3489em;\"><span class=\"stl_269 stl_12 stl_16\" style=\"word-spacing:-0.0302em;\">agreed rates \u00a0</span></div><div class=\"stl_01\" style=\"left:44.8904em;top:29.3477em;\"><span class=\"stl_269 stl_12 stl_44\" style=\"word-spacing:-0.0258em;\">December 31</span></div><div class=\"stl_01\" style=\"left:49.189em;top:29.3477em;\"><span class=\"stl_269 stl_12 stl_470\" style=\"word-spacing:-0.0338em;\">hensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:31.0089em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:31.9839em;\"><span class=\"stl_269 stl_12 stl_67\" style=\"word-spacing:-0.0283em;\">Interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:32.9646em;\"><span class=\"stl_277 stl_15 stl_504\" style=\"word-spacing:-0.0135em;\">DKK - fixed rate 0.9625% p.a. (expiry 2031) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.1148em;top:32.9646em;\"><span class=\"stl_277 stl_15 stl_383\">14,880 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6729em;top:32.9646em;\"><span class=\"stl_277 stl_15 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1942em;top:32.9646em;\"><span class=\"stl_277 stl_15 stl_120\">(405) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.6048em;top:33.9339em;\"><span class=\"stl_269 stl_12 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1067em;top:33.9339em;\"><span class=\"stl_269 stl_12 stl_136\">(405) \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:35.4652em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:36.4402em;\"><span class=\"stl_269 stl_12 stl_67\" style=\"word-spacing:-0.0283em;\">Interest rate swap \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7304em;top:37.4208em;\"><span class=\"stl_277 stl_15 stl_504\" style=\"word-spacing:-0.0135em;\">DKK - fixed rate 0.9625% p.a. (expiry 2031) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.2029em;top:37.4208em;\"><span class=\"stl_277 stl_15 stl_706\">17,041 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.266em;top:37.4208em;\"><span class=\"stl_277 stl_15 stl_341\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1967em;top:37.4208em;\"><span class=\"stl_277 stl_15 stl_149\">(766) \u00a0</span></div><div class=\"stl_01\" style=\"left:47.1385em;top:38.3902em;\"><span class=\"stl_269 stl_12 stl_734\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1123em;top:38.3902em;\"><span class=\"stl_269 stl_12 stl_158\">(766) \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsByTypeOfInterestRateExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8881": {
   "value": "<div class=\"stl_01\" style=\"left:55.748em;top:20.9271em;\"><span class=\"stl_352 stl_12 stl_177\" style=\"word-spacing:-0.0434em;\">Cash risks \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:21.7658em;\"><span class=\"stl_353 stl_15 stl_69\" 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:22.5989em;\"><span class=\"stl_353 stl_15 stl_25\" 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:23.4321em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">cash equivalents totaled DKK 1,623.5 million as of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:24.2652em;\"><span class=\"stl_353 stl_15 stl_313\" style=\"word-spacing:-0.0206em;\">December 31, 2024 (DKK 1,477.2 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:25.9321em;\"><span class=\"stl_353 stl_15 stl_55\" 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:26.7652em;\"><span class=\"stl_353 stl_15 stl_73\" 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": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8883": {
   "value": "<div class=\"stl_01\" style=\"left:21.0312em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2012em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.9062em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_68\" style=\"word-spacing:-0.0296em;\">Fair value as of \u00a0</span></div><div class=\"stl_01\" style=\"left:23.6999em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:1.0723em;\">Effective Fair</span></div><div class=\"stl_01\" style=\"left:28.279em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_422\" style=\"word-spacing:-0.0353em;\">value as of \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8706em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_378\">Effective \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:12.2289em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:17.4899em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_44\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:23.9668em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_75\">interest \u00a0</span></div><div class=\"stl_01\" style=\"left:27.6606em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_44\" style=\"word-spacing:-0.0257em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1374em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_75\">interest \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:13.9077em;\"><span class=\"stl_269 stl_12 stl_87\" style=\"word-spacing:-0.0427em;\">Bond portfolio \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_409\" style=\"word-spacing:-0.0165em;\">Within 0-2 years \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1368em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_130\">399,833 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.8643em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_456\">2.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3581em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_679\">230,192 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0574em;top:14.9352em;\"><span class=\"stl_277 stl_15 stl_107\">3.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_42\" style=\"word-spacing:-0.0235em;\">Within 3-5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:21.0437em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:26.0043em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.2149em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.1756em;top:15.957em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_32\" style=\"word-spacing:-0.0267em;\">After 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:19.1793em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_327\">151,705 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.8599em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_49\">2.8% \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3106em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_109\">160,055 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0368em;top:16.9789em;\"><span class=\"stl_277 stl_15 stl_295\">3.2% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7231em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:18.9781em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_143\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.7618em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_314\">2.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:29.1231em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_57\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9331em;top:17.9952em;\"><span class=\"stl_269 stl_12 stl_314\">3.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:19.842em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">Fluctuations in interest rate levels affect the Group's \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:20.6752em;\"><span class=\"stl_353 stl_15 stl_274\" 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:4.7237em;top:21.5083em;\"><span class=\"stl_353 stl_15 stl_42\" style=\"word-spacing:-0.0235em;\">percentage point relative to the interest rate level on \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:22.3414em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">the balance sheet date will have an impact of DKK 11.5 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:23.1745em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0274em;\">million on the Group\u00b4s net result and equity (DKK 13.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7237em;top:24.0077em;\"><span class=\"stl_353 stl_15 stl_292\">million). \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7318em;top:19.8408em;\"><span class=\"stl_353 stl_15 stl_41\" 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:21.7318em;top:20.6739em;\"><span class=\"stl_353 stl_15 stl_180\" style=\"word-spacing:-0.0238em;\">is a result of previous year's investment strategy. The \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7318em;top:21.507em;\"><span class=\"stl_353 stl_15 stl_51\" 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:21.7318em;top:22.3402em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">amended investment strategy with the aim of reducing \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7318em;top:23.1733em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">the duration of the portfolio. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8890": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_22\" style=\"word-spacing:-0.0375em;\">Maturity of financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4239em;top:10.7645em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.9314em;top:11.8489em;\"><span class=\"stl_270 stl_77 stl_278\" style=\"word-spacing:-0.0307em;\">Undiscounted contractual cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2789em;top:12.927em;\"><span class=\"stl_269 stl_12 stl_17\">Due \u00a0</span></div><div class=\"stl_01\" style=\"left:49.9902em;top:13.677em;\"><span class=\"stl_269 stl_12 stl_550\" style=\"word-spacing:-0.0403em;\">Due within \u00a0</span></div><div class=\"stl_01\" style=\"left:54.3195em;top:13.677em;\"><span class=\"stl_269 stl_12 stl_433\" style=\"word-spacing:-0.0337em;\">between 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.9595em;top:13.677em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9827em;top:13.677em;\"><span class=\"stl_269 stl_12 stl_276\">Carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.4327em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.362em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_42\" style=\"word-spacing:-0.0233em;\">1 year</span></div><div class=\"stl_01\" style=\"left:54.069em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0307em;\">and 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:59.577em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_192\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:64.4989em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1627em;top:14.427em;\"><span class=\"stl_269 stl_12 stl_94\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:51.0689em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_587\">1,104,708 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6602em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.912em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:63.8252em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_587\">1,104,708 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2658em;top:16.1408em;\"><span class=\"stl_277 stl_15 stl_346\">1,081,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">Credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:52.112em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_62\">2,588 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.157em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_728\">10,162 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.6352em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_416\">4,345 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.632em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_721\">17,095 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.167em;top:17.1395em;\"><span class=\"stl_277 stl_15 stl_413\">15,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8464em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_688\">39,602 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.0614em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_296\">80,357 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.912em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.3327em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_735\">119,959 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8527em;top:18.1383em;\"><span class=\"stl_277 stl_15 stl_728\">113,123 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:19.137em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Prepayment from customers \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5064em;top:19.137em;\"><span class=\"stl_277 stl_15 stl_136\">131,408 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.262em;top:19.137em;\"><span class=\"stl_277 stl_15 stl_136\">131,408 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7639em;top:19.137em;\"><span class=\"stl_277 stl_15 stl_136\">131,408 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:51.0758em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_327\">1,045,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6608em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9127em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:63.8321em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_327\">1,045,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3339em;top:20.1358em;\"><span class=\"stl_277 stl_15 stl_327\">1,045,134 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5289em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_373\">467,555 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6608em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9127em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.2846em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_373\">467,555 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7864em;top:21.1345em;\"><span class=\"stl_277 stl_15 stl_373\">467,555 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0379em;\">Non-derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7771em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_57\">2,790,995 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.9408em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_643\">90,519 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.5077em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_313\">4,345 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5096em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_209\">2,885,859 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0452em;top:22.1277em;\"><span class=\"stl_269 stl_12 stl_27\">2,853,812 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">Derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7102em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_688\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6533em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9052em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.4664em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_688\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9683em;top:23.3764em;\"><span class=\"stl_269 stl_12 stl_688\">29,902 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:24.9839em;\"><span class=\"stl_277 stl_15 stl_48\" style=\"word-spacing:-0.0262em;\">The outstanding deferred consideration as of December 31, 2024 is expected to be fully paid in first half of 2025, see \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:25.817em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">note 24 for further description. \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4246em;top:26.597em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.9327em;top:27.6814em;\"><span class=\"stl_270 stl_77 stl_278\" style=\"word-spacing:-0.0307em;\">Undiscounted contractual cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:56.2802em;top:28.7595em;\"><span class=\"stl_269 stl_12 stl_17\">Due \u00a0</span></div><div class=\"stl_01\" style=\"left:49.9914em;top:29.5095em;\"><span class=\"stl_269 stl_12 stl_550\" style=\"word-spacing:-0.0403em;\">Due within \u00a0</span></div><div class=\"stl_01\" style=\"left:54.3208em;top:29.5095em;\"><span class=\"stl_269 stl_12 stl_433\" style=\"word-spacing:-0.0337em;\">between 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.9608em;top:29.5095em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:67.9839em;top:29.5095em;\"><span class=\"stl_269 stl_12 stl_276\">Carrying \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7414em;top:30.2652em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3633em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_42\" style=\"word-spacing:-0.0233em;\">1 year</span></div><div class=\"stl_01\" style=\"left:54.071em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_41\" style=\"word-spacing:-0.0307em;\">and 5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:59.5783em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_192\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5002em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1639em;top:30.2595em;\"><span class=\"stl_269 stl_12 stl_94\">amount \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:50.9858em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_308\">1,394,805 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.2421em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_230\">1,082,525 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.9127em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:63.7771em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_38\">2,477,330 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.2639em;top:31.9733em;\"><span class=\"stl_277 stl_15 stl_382\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">Credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1358em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_562\">2,720 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.0896em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_105\">10,698 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7689em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_736\">7,167 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.5514em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_211\">20,586 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.1239em;top:32.972em;\"><span class=\"stl_277 stl_15 stl_718\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.8258em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_163\">45,679 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.0514em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_207\">93,568 \u00a0</span></div><div class=\"stl_01\" style=\"left:61.1433em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_156\">166 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3227em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_626\">139,413 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.7308em;top:33.9708em;\"><span class=\"stl_277 stl_15 stl_562\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7427em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Trade payables \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5458em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_689\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6615em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9133em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.3015em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_689\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8033em;top:34.9695em;\"><span class=\"stl_277 stl_15 stl_689\">954,143 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7421em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Other liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5515em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_436\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:57.6608em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9127em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:64.3071em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_436\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.809em;top:35.9683em;\"><span class=\"stl_277 stl_15 stl_436\">445,181 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7415em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0379em;\">Non-derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7427em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_388\">2,842,528 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.1071em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_469\">1,186,791 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.5771em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_320\">7,333 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5321em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_429\">4,036,652 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.1083em;top:36.9614em;\"><span class=\"stl_269 stl_12 stl_737\">3,921,615 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7415em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">Derivative financial liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:53.4008em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:57.6527em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:61.9046em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:66.1565em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:70.6583em;top:38.2102em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div>",
   "dimensions": {
    "concept": "ifrs-full:MaturityAnalysisForDerivativeFinancialLiabilities",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8907": {
   "value": "<div class=\"stl_01\" style=\"left:38.7407em;top:34.9789em;\"><span class=\"stl_352 stl_12 stl_16\" style=\"word-spacing:-0.0301em;\">Securities (level 1) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:35.797em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0355em;\">The portfolio of publicly traded government bonds, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:36.6095em;\"><span class=\"stl_353 stl_15 stl_94\" style=\"word-spacing:-0.0376em;\">publicly traded mortgage bonds and bank bonds is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:37.422em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">valued at listed prices and price quotas. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:10.207em;\"><span class=\"stl_352 stl_12 stl_165\" style=\"word-spacing:-0.0341em;\">Derivative financial instruments (level 2) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:11.0252em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0343em;\">Currency forward contracts, currency option contracts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:11.8377em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">and interest swap contracts are valued according to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:12.6502em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">generally accepted valuation methods based on rele- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7488em;top:13.4627em;\"><span class=\"stl_353 stl_15 stl_422\" style=\"word-spacing:-0.0355em;\">vant observable swap curves and exchange rates. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Fair value hierarchy for financial instruments measured at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6569em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.3014em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0344em;top:11.2958em;\"><span class=\"stl_269 stl_12 stl_45\" style=\"word-spacing:-0.018em;\">Level 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6957em;top:11.2958em;\"><span class=\"stl_269 stl_12 stl_45\" style=\"word-spacing:-0.018em;\">Level 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:11.2958em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.927em;\"><span class=\"stl_277 stl_15 stl_392\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9375em;top:12.927em;\"><span class=\"stl_277 stl_15 stl_106\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5013em;top:12.927em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.26em;top:12.927em;\"><span class=\"stl_277 stl_15 stl_106\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:13.9433em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7744em;top:13.9433em;\"><span class=\"stl_269 stl_12 stl_143\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.4938em;top:13.9433em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.0975em;top:13.9433em;\"><span class=\"stl_269 stl_12 stl_143\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.5745em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Derivative financial instruments to hedge future cash flow (currency) \u00a0</span></div><div class=\"stl_01\" style=\"left:28.84em;top:15.5745em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.7444em;top:15.5745em;\"><span class=\"stl_277 stl_15 stl_674\">(29,902) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4057em;top:15.5745em;\"><span class=\"stl_277 stl_15 stl_674\">(29,902) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:16.5964em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flow (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8394em;top:16.5964em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.7294em;top:16.5964em;\"><span class=\"stl_277 stl_15 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3907em;top:16.5964em;\"><span class=\"stl_277 stl_15 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:17.6127em;\"><span class=\"stl_269 stl_12 stl_390\" style=\"word-spacing:-0.0372em;\">Financial assets/liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8319em;top:17.6127em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.555em;top:17.6127em;\"><span class=\"stl_269 stl_12 stl_357\">(29,204) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2163em;top:17.6127em;\"><span class=\"stl_269 stl_12 stl_133\">(29,204) \u00a0</span></div><div class=\"stl_01\" style=\"left:30.655em;top:19.4402em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:20.6452em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0332em;top:20.6395em;\"><span class=\"stl_269 stl_12 stl_45\" style=\"word-spacing:-0.018em;\">Level 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6944em;top:20.6395em;\"><span class=\"stl_269 stl_12 stl_45\" style=\"word-spacing:-0.018em;\">Level 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.97em;top:20.6395em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:22.2664em;\"><span class=\"stl_277 stl_15 stl_392\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9207em;top:22.2664em;\"><span class=\"stl_277 stl_15 stl_442\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5em;top:22.2664em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2432em;top:22.2664em;\"><span class=\"stl_277 stl_15 stl_442\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:23.2827em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7463em;top:23.2827em;\"><span class=\"stl_269 stl_12 stl_57\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.4925em;top:23.2827em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.0694em;top:23.2827em;\"><span class=\"stl_269 stl_12 stl_57\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:24.9139em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Derivative financial instruments to hedge future cash flow (currency) \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8388em;top:24.9139em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.8888em;top:24.9139em;\"><span class=\"stl_277 stl_15 stl_535\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.55em;top:24.9139em;\"><span class=\"stl_277 stl_15 stl_535\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:25.9358em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flow (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8382em;top:25.9358em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.3213em;top:25.9358em;\"><span class=\"stl_277 stl_15 stl_738\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9825em;top:25.9358em;\"><span class=\"stl_277 stl_15 stl_738\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:26.952em;\"><span class=\"stl_269 stl_12 stl_390\" style=\"word-spacing:-0.0372em;\">Financial assets/liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8307em;top:26.952em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.7438em;top:26.952em;\"><span class=\"stl_269 stl_12 stl_215\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.405em;top:26.952em;\"><span class=\"stl_269 stl_12 stl_215\">45,887 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCollateralExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8913": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_124\" style=\"word-spacing:0.0095em;\">Note 24 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_135\" style=\"word-spacing:0.0143em;\">Deferred consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:53.051em;top:18.4688em;\"><span class=\"stl_269 stl_12 stl_550\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:57.077em;top:18.4688em;\"><span class=\"stl_269 stl_12 stl_74\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:62.9641em;top:18.4688em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:19.2244em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:54.4229em;top:19.2188em;\"><span class=\"stl_269 stl_12 stl_42\" style=\"word-spacing:-0.0233em;\">1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:57.376em;top:19.2188em;\"><span class=\"stl_269 stl_12 stl_193\" style=\"word-spacing:-0.0304em;\">1 and 5 year \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5816em;top:19.2188em;\"><span class=\"stl_269 stl_12 stl_192\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:68.976em;top:19.2188em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:20.9031em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:21.9306em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">Deferred consideration, product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0797em;top:21.9306em;\"><span class=\"stl_277 stl_15 stl_492\">731,520 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7191em;top:21.9306em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:65.4435em;top:21.9306em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.2529em;top:21.9306em;\"><span class=\"stl_277 stl_15 stl_492\">731,520 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:22.9525em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Deferred consideration, development project \u00a0</span></div><div class=\"stl_01\" style=\"left:54.111em;top:22.9525em;\"><span class=\"stl_277 stl_15 stl_368\">349,945 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7185em;top:22.9525em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:65.4429em;top:22.9525em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.2841em;top:22.9525em;\"><span class=\"stl_277 stl_15 stl_368\">349,945 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:23.9688em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:53.3747em;top:23.9688em;\"><span class=\"stl_269 stl_12 stl_202\">1,081,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:60.7116em;top:23.9688em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:65.436em;top:23.9688em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.5479em;top:23.9688em;\"><span class=\"stl_269 stl_12 stl_202\">1,081,465 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:26.1975em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:27.225em;\"><span class=\"stl_277 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">Deferred consideration, product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:53.656em;top:27.225em;\"><span class=\"stl_277 stl_15 stl_739\">1,163,599 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.8285em;top:27.225em;\"><span class=\"stl_277 stl_15 stl_119\">709,635 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4435em;top:27.225em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.7347em;top:27.225em;\"><span class=\"stl_277 stl_15 stl_546\">1,873,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:28.2469em;\"><span class=\"stl_277 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">Deferred consideration, development project \u00a0</span></div><div class=\"stl_01\" style=\"left:54.0672em;top:28.2469em;\"><span class=\"stl_277 stl_15 stl_484\">196,534 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.8322em;top:28.2469em;\"><span class=\"stl_277 stl_15 stl_300\">307,221 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.4429em;top:28.2469em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.2672em;top:28.2469em;\"><span class=\"stl_277 stl_15 stl_118\">503,755 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:29.2631em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:53.4297em;top:29.2631em;\"><span class=\"stl_269 stl_12 stl_201\">1,360,133 \u00a0</span></div><div class=\"stl_01\" style=\"left:58.1116em;top:29.2631em;\"><span class=\"stl_269 stl_12 stl_59\">1,016,856 \u00a0</span></div><div class=\"stl_01\" style=\"left:65.436em;top:29.2631em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:67.5479em;top:29.2631em;\"><span class=\"stl_269 stl_12 stl_27\">2,376,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:31.3406em;\"><span class=\"stl_352 stl_12 stl_223\" style=\"word-spacing:-0.0378em;\">Product rights \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:32.1794em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">The Asset Purchase Agreement with GSK includes mile- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:33.0125em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">stone payments relating to transfer and registration \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:33.8456em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">of marketing authorizations, technology transfer of \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:34.6788em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0333em;\">different steps of the production and packaging activi- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:35.5119em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">ties as well as a milestone payment when all services \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:36.345em;\"><span class=\"stl_353 stl_15 stl_48\" style=\"word-spacing:-0.0262em;\">agreed to be rendered by GSK have been completed. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:37.1781em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">In total EUR 470 million. The Asset Purchase Agree- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:38.0113em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">ment with GSK also includes a sales milestone of EUR \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7372em;top:31.3444em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0297em;\">25 million, which previos year wasn't assessed to be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7372em;top:32.1775em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">probable and therefore the sales milestone was not \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7372em;top:33.0106em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">recognized as either part of the product rights (note \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7372em;top:33.8438em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">15) nor the deferred consideration. Due to stronger \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7372em;top:34.6769em;\"><span class=\"stl_353 stl_15 stl_83\" style=\"word-spacing:-0.0369em;\">than expected sales performance the sales milestone \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7372em;top:35.51em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">was reached in July 2024 and the milestone of EUR 25 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7372em;top:36.3431em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0323em;\">million became payable. Following the completion of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7372em;top:37.1763em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">the technology transfer of the bulk production for both \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7372em;top:38.0094em;\"><span class=\"stl_353 stl_15 stl_44\" style=\"word-spacing:-0.0258em;\">Encepur and Rabipur/RabAvert two milestones were \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2188em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0274em;\">reached. One has been paid during the year, whereas \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.052em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0273em;\">the other was invoiced in December 2024 and paid in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8851em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">January 2025, EUR 80 million. At end of 2024 only one \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.7182em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">technology transfer milestone and the completion \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:13.5513em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.0341em;\">milestone are outstanding, in total DKK 100 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:14.3845em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">Payments are expected to be payable in first half of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.2176em;\"><span class=\"stl_353 stl_15 stl_192\" style=\"word-spacing:-0.0256em;\">2025. The cash flow from payment of deferred consider- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.0507em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0276em;\">ation will be recognized as cash flow from investment \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8838em;\"><span class=\"stl_353 stl_15 stl_422\">activities. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.5507em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">The carrying amount is measured using a discount rate \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.3838em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">of 4% per annum. The discount rate was determined at \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.217em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.028em;\">intial recognition based on an interest rate on a similar \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.0501em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">loan of the same size and maturity as the contingent \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.8832em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">milestone payments and the Company's credit rating as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.7163em;\"><span class=\"stl_353 stl_15 stl_240\" style=\"word-spacing:-0.0191em;\">of December 31, 2019. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.3832em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">The fair value of the deferred consideration as per \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.2163em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0329em;\">December 31, 2024 amounts to DKK 725 million (DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.0495em;\"><span class=\"stl_353 stl_15 stl_243\" style=\"word-spacing:-0.026em;\">1,839 million), measured using the updated discount \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.8826em;\"><span class=\"stl_353 stl_15 stl_313\" style=\"word-spacing:-0.0205em;\">rate of 5.97% (6.25%). The discount rate has been \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.7157em;\"><span class=\"stl_353 stl_15 stl_473\" style=\"word-spacing:-0.0357em;\">determined based on the same components as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.5488em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">described above. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.2101em;\"><span class=\"stl_352 stl_12 stl_91\" style=\"word-spacing:-0.0339em;\">Development project \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.0488em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.882em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Emergent BioSolutions includes milestone payments \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.7151em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">relating to submission and approval of Biologics License \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.5482em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">Application (BLA) to FDA and Marketing Authorization \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.3813em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">Application to EMA for the chikungunya development \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.2145em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">asset. In total USD 80 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.8813em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">At initial recognition the net present value of probable \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:37.7145em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">future development milestone payments to Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.2145em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">BioSolutions amounted to DKK 499 million and was \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0476em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">recognized as deferred consideration. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.7145em;\"><span class=\"stl_353 stl_15 stl_536\" style=\"word-spacing:-0.0286em;\">During 2024 two milestones were reached and paid, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.5476em;\"><span class=\"stl_353 stl_15 stl_427\" style=\"word-spacing:-0.0311em;\">in total USD 30 million. The remaining two milestones, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3807em;\"><span class=\"stl_353 stl_15 stl_699\" style=\"word-spacing:-0.0323em;\">totalling USD 50 million, are expected to become \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:15.2138em;\"><span class=\"stl_353 stl_15 stl_478\" style=\"word-spacing:-0.0299em;\">payable in first half of 2025. The cash flow from payment \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.047em;\"><span class=\"stl_353 stl_15 stl_509\" style=\"word-spacing:-0.0288em;\">of deferred consideration will be recognized as cash flow \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.8801em;\"><span class=\"stl_353 stl_15 stl_220\" style=\"word-spacing:-0.0313em;\">from investment activities. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.547em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">The carrying amount are measured using a discount \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.3801em;\"><span class=\"stl_353 stl_15 stl_56\" style=\"word-spacing:-0.0243em;\">rate of 6% per annum. The discount rate was deter- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:20.2132em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">mined at intial recognition based on an interest rate \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.0463em;\"><span class=\"stl_353 stl_15 stl_287\" 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:21.7325em;top:21.8795em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">contingent milestone payments and the Company's \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:22.7126em;\"><span class=\"stl_353 stl_15 stl_48\" style=\"word-spacing:-0.0261em;\">credit rating as of May 15, 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.3795em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">The fair value of the deferred consideration as per \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.2126em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">December 31, 2024 amounts to DKK 350 million (DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.0457em;\"><span class=\"stl_353 stl_15 stl_179\" style=\"word-spacing:-0.0245em;\">502 million), measured using the updated discount rate \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.8788em;\"><span class=\"stl_353 stl_15 stl_317\" style=\"word-spacing:-0.0189em;\">of 5.97% (6.25%). The discount rate has been deter- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.712em;\"><span class=\"stl_353 stl_15 stl_95\" style=\"word-spacing:-0.038em;\">mined based on the same components as described \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.5451em;\"><span class=\"stl_353 stl_15 stl_347\">above. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.212em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.0451em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Emergent BioSolutions in May 2023 includes an earnout \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:31.8782em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">payment starting at USD 30 million. The earnout \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.7113em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0281em;\">payment relates to sale of Vivotif and Vaxchora. As \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.5445em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">per December 31, 2024 Management does not judge \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.3776em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">the sales milestone to be probable and therefore the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:35.2107em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">earnout payment has not been recognized as either \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.0438em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0291em;\">part of the project rights (note 15) nor the deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.877em;\"><span class=\"stl_353 stl_15 stl_54\">consideration. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8914": {
   "value": "<div class=\"stl_01\" style=\"left:40.0015em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">Deferred consideration including contingent milestone \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">payments is recognized when its payment is probable \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_275\" 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:38.7297em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">nition measured at fair value which equals the present \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">value of future deferred payments. Subsequently, the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">deferred consideration is measured at amortized cost. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:16.2043em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0287em;\">This means that the difference between the present \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:17.0374em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">value of the consideration and the nominal amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:11.2043em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">due is recognized in the income statement as a finan- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:12.0374em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">cial expense over the period until expected payment \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:12.8706em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">date using the effective interest method. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:14.5374em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0333em;\">The expected phasing of future payments and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:15.3706em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">probability of contingent payments are assessed on \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:16.2037em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">each reporting date and the impact is recognized as a \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7379em;top:17.0368em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">financial item. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8912": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Fair value hierarchy for financial instruments measured at fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6569em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.3014em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0344em;top:11.2958em;\"><span class=\"stl_269 stl_12 stl_45\" style=\"word-spacing:-0.018em;\">Level 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6957em;top:11.2958em;\"><span class=\"stl_269 stl_12 stl_45\" style=\"word-spacing:-0.018em;\">Level 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9713em;top:11.2958em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:12.927em;\"><span class=\"stl_277 stl_15 stl_392\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9375em;top:12.927em;\"><span class=\"stl_277 stl_15 stl_106\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5013em;top:12.927em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.26em;top:12.927em;\"><span class=\"stl_277 stl_15 stl_106\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:13.9433em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7744em;top:13.9433em;\"><span class=\"stl_269 stl_12 stl_143\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.4938em;top:13.9433em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.0975em;top:13.9433em;\"><span class=\"stl_269 stl_12 stl_143\">551,538 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.5745em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Derivative financial instruments to hedge future cash flow (currency) \u00a0</span></div><div class=\"stl_01\" style=\"left:28.84em;top:15.5745em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.7444em;top:15.5745em;\"><span class=\"stl_277 stl_15 stl_674\">(29,902) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4057em;top:15.5745em;\"><span class=\"stl_277 stl_15 stl_674\">(29,902) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:16.5964em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flow (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8394em;top:16.5964em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.7294em;top:16.5964em;\"><span class=\"stl_277 stl_15 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3907em;top:16.5964em;\"><span class=\"stl_277 stl_15 stl_59\">698 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:17.6127em;\"><span class=\"stl_269 stl_12 stl_390\" style=\"word-spacing:-0.0372em;\">Financial assets/liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8319em;top:17.6127em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.555em;top:17.6127em;\"><span class=\"stl_269 stl_12 stl_357\">(29,204) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2163em;top:17.6127em;\"><span class=\"stl_269 stl_12 stl_133\">(29,204) \u00a0</span></div><div class=\"stl_01\" style=\"left:30.655em;top:19.4402em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:20.6452em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0332em;top:20.6395em;\"><span class=\"stl_269 stl_12 stl_45\" style=\"word-spacing:-0.018em;\">Level 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6944em;top:20.6395em;\"><span class=\"stl_269 stl_12 stl_45\" style=\"word-spacing:-0.018em;\">Level 2 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.97em;top:20.6395em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:22.2664em;\"><span class=\"stl_277 stl_15 stl_392\">Securities \u00a0</span></div><div class=\"stl_01\" style=\"left:26.9207em;top:22.2664em;\"><span class=\"stl_277 stl_15 stl_442\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.5em;top:22.2664em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2432em;top:22.2664em;\"><span class=\"stl_277 stl_15 stl_442\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:23.2827em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Financial assets measured at fair value through the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7463em;top:23.2827em;\"><span class=\"stl_269 stl_12 stl_57\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.4925em;top:23.2827em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.0694em;top:23.2827em;\"><span class=\"stl_269 stl_12 stl_57\">390,247 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:24.9139em;\"><span class=\"stl_277 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">Derivative financial instruments to hedge future cash flow (currency) \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8388em;top:24.9139em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.8888em;top:24.9139em;\"><span class=\"stl_277 stl_15 stl_535\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.55em;top:24.9139em;\"><span class=\"stl_277 stl_15 stl_535\">44,784 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:25.9358em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Derivative financial instruments to hedge future cash flow (interest) \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8382em;top:25.9358em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.3213em;top:25.9358em;\"><span class=\"stl_277 stl_15 stl_738\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9825em;top:25.9358em;\"><span class=\"stl_277 stl_15 stl_738\">1,103 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7225em;top:26.952em;\"><span class=\"stl_269 stl_12 stl_390\" style=\"word-spacing:-0.0372em;\">Financial assets/liabilities used as hedging instruments \u00a0</span></div><div class=\"stl_01\" style=\"left:28.8307em;top:26.952em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:30.7438em;top:26.952em;\"><span class=\"stl_269 stl_12 stl_215\">45,887 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.405em;top:26.952em;\"><span class=\"stl_269 stl_12 stl_215\">45,887 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8925": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_475\" style=\"word-spacing:-0.0095em;\">Note 25 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_106\" style=\"word-spacing:0.013em;\">Debt to credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:53.051em;top:15.9688em;\"><span class=\"stl_269 stl_12 stl_550\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:57.077em;top:15.9688em;\"><span class=\"stl_269 stl_12 stl_74\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:62.9641em;top:15.9688em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:16.7244em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:54.4229em;top:16.7188em;\"><span class=\"stl_269 stl_12 stl_42\" style=\"word-spacing:-0.0233em;\">1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:57.376em;top:16.7188em;\"><span class=\"stl_269 stl_12 stl_193\" style=\"word-spacing:-0.0304em;\">1 and 5 year \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5816em;top:16.7188em;\"><span class=\"stl_269 stl_12 stl_192\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:68.976em;top:16.7188em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:18.4031em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:19.4306em;\"><span class=\"stl_277 stl_15 stl_33\">Mortgage</span><sup style=\"top: -0.2076em;\"><span class=\"stl_280 stl_15 stl_540\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:54.7718em;top:19.4311em;\"><span class=\"stl_277 stl_15 stl_376\">2,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4424em;top:19.4311em;\"><span class=\"stl_277 stl_15 stl_416\">8,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2311em;top:19.4311em;\"><span class=\"stl_277 stl_15 stl_98\">4,184 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6686em;top:19.4311em;\"><span class=\"stl_277 stl_15 stl_413\">15,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7293em;top:20.4474em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:54.6424em;top:20.4474em;\"><span class=\"stl_269 stl_12 stl_300\">2,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.3224em;top:20.4474em;\"><span class=\"stl_269 stl_12 stl_504\">8,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.103em;top:20.4474em;\"><span class=\"stl_269 stl_12 stl_567\">4,184 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5136em;top:20.4474em;\"><span class=\"stl_269 stl_12 stl_656\">15,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7293em;top:22.6761em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7293em;top:23.7036em;\"><span class=\"stl_277 stl_15 stl_33\">Mortgage</span><sup style=\"top: -0.2074em;\"><span class=\"stl_280 stl_15 stl_17\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:54.7727em;top:23.7044em;\"><span class=\"stl_277 stl_15 stl_566\">1,913 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4602em;top:23.7044em;\"><span class=\"stl_277 stl_15 stl_442\">8,470 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1646em;top:23.7044em;\"><span class=\"stl_277 stl_15 stl_427\">6,665 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6252em;top:23.7044em;\"><span class=\"stl_277 stl_15 stl_718\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7296em;top:24.7206em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:54.654em;top:24.7206em;\"><span class=\"stl_269 stl_12 stl_244\">1,913 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.339em;top:24.7206em;\"><span class=\"stl_269 stl_12 stl_322\">8,470 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0446em;top:24.7206em;\"><span class=\"stl_269 stl_12 stl_219\">6,665 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4783em;top:24.7206em;\"><span class=\"stl_269 stl_12 stl_469\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:26.2041em;\"><span class=\"stl_238 stl_15 stl_27\">1</span></div><div class=\"stl_01\" style=\"left:39.4382em;top:26.2041em;\"><span class=\"stl_238 stl_15 stl_271\" 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:38.7297em;top:27.7484em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">The fair value of the debt to credit institutions amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:28.5816em;\"><span class=\"stl_353 stl_15 stl_313\" style=\"word-spacing:-0.0206em;\">to DKK 15.1 million (DKK 17.0 million). The fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:29.4147em;\"><span class=\"stl_353 stl_15 stl_55\" 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:38.7297em;top:30.2478em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">underlying bonds set by the bank (level 2). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:31.9147em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">The tables detail changes in the Group's liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:32.7478em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">arising from financing activities, both cash and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:33.5809em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0342em;\">non-cash changes. Liabilities arising from financing \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:34.4141em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">activities are those for which cash flows were, or future \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:35.2472em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0279em;\">cash flows will be, classified in the Group's consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:36.0803em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">statement of cash flow as cash flows from financing \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:36.9134em;\"><span class=\"stl_353 stl_15 stl_422\">activities. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2738em;\"><span class=\"stl_269 stl_12 stl_473\" style=\"word-spacing:-0.0358em;\">Cash flow from financing activities \u00a0</span></div><div class=\"stl_01\" style=\"left:19.9719em;top:11.0595em;\"><span class=\"stl_269 stl_12 stl_520\">January \u00a0</span></div><div class=\"stl_01\" style=\"left:25.6069em;top:11.0595em;\"><span class=\"stl_269 stl_12 stl_74\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:28.955em;top:11.0595em;\"><span class=\"stl_269 stl_12 stl_256\">Non-cash \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4675em;top:11.0595em;\"><span class=\"stl_269 stl_12 stl_195\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8151em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.1107em;top:11.8095em;\"><span class=\"stl_269 stl_12 stl_107\" style=\"word-spacing:0.016em;\">1, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8013em;top:11.8095em;\"><span class=\"stl_269 stl_12 stl_69\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:28.5257em;top:11.8095em;\"><span class=\"stl_269 stl_12 stl_69\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:33.9438em;top:11.8095em;\"><span class=\"stl_269 stl_12 stl_581\" style=\"word-spacing:0.0212em;\">31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:13.4938em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:14.5213em;\"><span class=\"stl_277 stl_15 stl_348\">Mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4463em;top:14.5213em;\"><span class=\"stl_277 stl_15 stl_718\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.3138em;top:14.5213em;\"><span class=\"stl_277 stl_15 stl_441\">(1,921) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4382em;top:14.5213em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.6632em;top:14.5213em;\"><span class=\"stl_277 stl_15 stl_413\">15,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:15.5432em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.0525em;top:15.5432em;\"><span class=\"stl_277 stl_15 stl_562\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.9719em;top:15.5432em;\"><span class=\"stl_277 stl_15 stl_587\">(41,639) \u00a0</span></div><div class=\"stl_01\" style=\"left:29.8263em;top:15.5432em;\"><span class=\"stl_277 stl_15 stl_535\">26,508 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3488em;top:15.5432em;\"><span class=\"stl_277 stl_15 stl_728\">113,123 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:16.5595em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Total liabilities from financing activities \u00a0</span></div><div class=\"stl_01\" style=\"left:19.92em;top:16.5595em;\"><span class=\"stl_269 stl_12 stl_161\">145,302 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.755em;top:16.5595em;\"><span class=\"stl_269 stl_12 stl_267\">(43,560) \u00a0</span></div><div class=\"stl_01\" style=\"left:29.6825em;top:16.5595em;\"><span class=\"stl_269 stl_12 stl_336\">26,508 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0694em;top:16.5595em;\"><span class=\"stl_269 stl_12 stl_562\">128,250 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.9713em;top:18.552em;\"><span class=\"stl_269 stl_12 stl_520\">January \u00a0</span></div><div class=\"stl_01\" style=\"left:25.6063em;top:18.552em;\"><span class=\"stl_269 stl_12 stl_74\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9544em;top:18.552em;\"><span class=\"stl_269 stl_12 stl_256\">Non-cash \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4669em;top:18.552em;\"><span class=\"stl_269 stl_12 stl_195\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:19.3076em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.1075em;top:19.302em;\"><span class=\"stl_269 stl_12 stl_118\" style=\"word-spacing:0.014em;\">1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8007em;top:19.302em;\"><span class=\"stl_269 stl_12 stl_69\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:28.525em;top:19.302em;\"><span class=\"stl_269 stl_12 stl_69\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:33.9413em;top:19.302em;\"><span class=\"stl_269 stl_12 stl_572\" style=\"word-spacing:0.0196em;\">31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:20.9863em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:22.0138em;\"><span class=\"stl_277 stl_15 stl_348\">Mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4144em;top:22.0138em;\"><span class=\"stl_277 stl_15 stl_135\">18,930 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.27em;top:22.0138em;\"><span class=\"stl_277 stl_15 stl_662\">(1,882) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4375em;top:22.0138em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.6188em;top:22.0138em;\"><span class=\"stl_277 stl_15 stl_718\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:23.0357em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Security lending (repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:19.675em;top:23.0357em;\"><span class=\"stl_277 stl_15 stl_585\">1,103,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.2307em;top:23.0357em;\"><span class=\"stl_277 stl_15 stl_670\">(1,103,661) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4375em;top:23.0357em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.1619em;top:23.0357em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:24.0576em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:20.0388em;top:24.0576em;\"><span class=\"stl_277 stl_15 stl_329\">566,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.7757em;top:24.0576em;\"><span class=\"stl_277 stl_15 stl_456\">240,000 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.305em;top:24.0576em;\"><span class=\"stl_277 stl_15 stl_307\">(806,420) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1619em;top:24.0576em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:25.0795em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4188em;top:25.0795em;\"><span class=\"stl_277 stl_15 stl_110\">70,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.915em;top:25.0795em;\"><span class=\"stl_277 stl_15 stl_59\">(34,270) \u00a0</span></div><div class=\"stl_01\" style=\"left:29.8407em;top:25.0795em;\"><span class=\"stl_277 stl_15 stl_542\">92,203 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.225em;top:25.0795em;\"><span class=\"stl_277 stl_15 stl_562\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:26.0957em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Total liabilities from financing activities \u00a0</span></div><div class=\"stl_01\" style=\"left:19.4344em;top:26.0957em;\"><span class=\"stl_269 stl_12 stl_172\">1,759,332 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.4513em;top:26.0957em;\"><span class=\"stl_269 stl_12 stl_575\">(899,813) \u00a0</span></div><div class=\"stl_01\" style=\"left:29.1419em;top:26.0957em;\"><span class=\"stl_269 stl_12 stl_133\">(714,217) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0919em;top:26.0957em;\"><span class=\"stl_269 stl_12 stl_161\">145,302 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8926": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_475\" style=\"word-spacing:-0.0095em;\">Note 25 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_106\" style=\"word-spacing:0.013em;\">Debt to credit institutions \u00a0</span></div><div class=\"stl_01\" style=\"left:53.051em;top:15.9688em;\"><span class=\"stl_269 stl_12 stl_550\" style=\"word-spacing:-0.0403em;\">Due within</span></div><div class=\"stl_01\" style=\"left:57.077em;top:15.9688em;\"><span class=\"stl_269 stl_12 stl_74\" style=\"word-spacing:-0.036em;\">Due between \u00a0</span></div><div class=\"stl_01\" style=\"left:62.9641em;top:15.9688em;\"><span class=\"stl_269 stl_12 stl_94\" style=\"word-spacing:-0.0377em;\">Due after \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:16.7244em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:54.4229em;top:16.7188em;\"><span class=\"stl_269 stl_12 stl_42\" style=\"word-spacing:-0.0233em;\">1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:57.376em;top:16.7188em;\"><span class=\"stl_269 stl_12 stl_193\" style=\"word-spacing:-0.0304em;\">1 and 5 year \u00a0</span></div><div class=\"stl_01\" style=\"left:63.5816em;top:16.7188em;\"><span class=\"stl_269 stl_12 stl_192\" style=\"word-spacing:-0.0255em;\">5 years \u00a0</span></div><div class=\"stl_01\" style=\"left:68.976em;top:16.7188em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:18.4031em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7291em;top:19.4306em;\"><span class=\"stl_277 stl_15 stl_33\">Mortgage</span><sup style=\"top: -0.2076em;\"><span class=\"stl_280 stl_15 stl_540\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:54.7718em;top:19.4311em;\"><span class=\"stl_277 stl_15 stl_376\">2,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4424em;top:19.4311em;\"><span class=\"stl_277 stl_15 stl_416\">8,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.2311em;top:19.4311em;\"><span class=\"stl_277 stl_15 stl_98\">4,184 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6686em;top:19.4311em;\"><span class=\"stl_277 stl_15 stl_413\">15,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7293em;top:20.4474em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:54.6424em;top:20.4474em;\"><span class=\"stl_269 stl_12 stl_300\">2,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.3224em;top:20.4474em;\"><span class=\"stl_269 stl_12 stl_504\">8,869 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.103em;top:20.4474em;\"><span class=\"stl_269 stl_12 stl_567\">4,184 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5136em;top:20.4474em;\"><span class=\"stl_269 stl_12 stl_656\">15,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7293em;top:22.6761em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7293em;top:23.7036em;\"><span class=\"stl_277 stl_15 stl_33\">Mortgage</span><sup style=\"top: -0.2074em;\"><span class=\"stl_280 stl_15 stl_17\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:54.7727em;top:23.7044em;\"><span class=\"stl_277 stl_15 stl_566\">1,913 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.4602em;top:23.7044em;\"><span class=\"stl_277 stl_15 stl_442\">8,470 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.1646em;top:23.7044em;\"><span class=\"stl_277 stl_15 stl_427\">6,665 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6252em;top:23.7044em;\"><span class=\"stl_277 stl_15 stl_718\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7296em;top:24.7206em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:54.654em;top:24.7206em;\"><span class=\"stl_269 stl_12 stl_244\">1,913 \u00a0</span></div><div class=\"stl_01\" style=\"left:59.339em;top:24.7206em;\"><span class=\"stl_269 stl_12 stl_322\">8,470 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.0446em;top:24.7206em;\"><span class=\"stl_269 stl_12 stl_219\">6,665 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4783em;top:24.7206em;\"><span class=\"stl_269 stl_12 stl_469\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:26.2041em;\"><span class=\"stl_238 stl_15 stl_27\">1</span></div><div class=\"stl_01\" style=\"left:39.4382em;top:26.2041em;\"><span class=\"stl_238 stl_15 stl_271\" 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:38.7297em;top:27.7484em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">The fair value of the debt to credit institutions amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:28.5816em;\"><span class=\"stl_353 stl_15 stl_313\" style=\"word-spacing:-0.0206em;\">to DKK 15.1 million (DKK 17.0 million). The fair value \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:29.4147em;\"><span class=\"stl_353 stl_15 stl_55\" 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:38.7297em;top:30.2478em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">underlying bonds set by the bank (level 2). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:31.9147em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">The tables detail changes in the Group's liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:32.7478em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">arising from financing activities, both cash and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:33.5809em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0342em;\">non-cash changes. Liabilities arising from financing \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:34.4141em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">activities are those for which cash flows were, or future \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:35.2472em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0279em;\">cash flows will be, classified in the Group's consolidated \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:36.0803em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">statement of cash flow as cash flows from financing \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:36.9134em;\"><span class=\"stl_353 stl_15 stl_422\">activities. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2738em;\"><span class=\"stl_269 stl_12 stl_473\" style=\"word-spacing:-0.0358em;\">Cash flow from financing activities \u00a0</span></div><div class=\"stl_01\" style=\"left:19.9719em;top:11.0595em;\"><span class=\"stl_269 stl_12 stl_520\">January \u00a0</span></div><div class=\"stl_01\" style=\"left:25.6069em;top:11.0595em;\"><span class=\"stl_269 stl_12 stl_74\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:28.955em;top:11.0595em;\"><span class=\"stl_269 stl_12 stl_256\">Non-cash \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4675em;top:11.0595em;\"><span class=\"stl_269 stl_12 stl_195\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.8151em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.1107em;top:11.8095em;\"><span class=\"stl_269 stl_12 stl_107\" style=\"word-spacing:0.016em;\">1, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8013em;top:11.8095em;\"><span class=\"stl_269 stl_12 stl_69\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:28.5257em;top:11.8095em;\"><span class=\"stl_269 stl_12 stl_69\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:33.9438em;top:11.8095em;\"><span class=\"stl_269 stl_12 stl_581\" style=\"word-spacing:0.0212em;\">31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:13.4938em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:14.5213em;\"><span class=\"stl_277 stl_15 stl_348\">Mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4463em;top:14.5213em;\"><span class=\"stl_277 stl_15 stl_718\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.3138em;top:14.5213em;\"><span class=\"stl_277 stl_15 stl_441\">(1,921) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4382em;top:14.5213em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.6632em;top:14.5213em;\"><span class=\"stl_277 stl_15 stl_413\">15,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:15.5432em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.0525em;top:15.5432em;\"><span class=\"stl_277 stl_15 stl_562\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.9719em;top:15.5432em;\"><span class=\"stl_277 stl_15 stl_587\">(41,639) \u00a0</span></div><div class=\"stl_01\" style=\"left:29.8263em;top:15.5432em;\"><span class=\"stl_277 stl_15 stl_535\">26,508 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3488em;top:15.5432em;\"><span class=\"stl_277 stl_15 stl_728\">113,123 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:16.5595em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Total liabilities from financing activities \u00a0</span></div><div class=\"stl_01\" style=\"left:19.92em;top:16.5595em;\"><span class=\"stl_269 stl_12 stl_161\">145,302 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.755em;top:16.5595em;\"><span class=\"stl_269 stl_12 stl_267\">(43,560) \u00a0</span></div><div class=\"stl_01\" style=\"left:29.6825em;top:16.5595em;\"><span class=\"stl_269 stl_12 stl_336\">26,508 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0694em;top:16.5595em;\"><span class=\"stl_269 stl_12 stl_562\">128,250 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.9713em;top:18.552em;\"><span class=\"stl_269 stl_12 stl_520\">January \u00a0</span></div><div class=\"stl_01\" style=\"left:25.6063em;top:18.552em;\"><span class=\"stl_269 stl_12 stl_74\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:28.9544em;top:18.552em;\"><span class=\"stl_269 stl_12 stl_256\">Non-cash \u00a0</span></div><div class=\"stl_01\" style=\"left:33.4669em;top:18.552em;\"><span class=\"stl_269 stl_12 stl_195\">December \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:19.3076em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:20.1075em;top:19.302em;\"><span class=\"stl_269 stl_12 stl_118\" style=\"word-spacing:0.014em;\">1, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:23.8007em;top:19.302em;\"><span class=\"stl_269 stl_12 stl_69\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:28.525em;top:19.302em;\"><span class=\"stl_269 stl_12 stl_69\">movement \u00a0</span></div><div class=\"stl_01\" style=\"left:33.9413em;top:19.302em;\"><span class=\"stl_269 stl_12 stl_572\" style=\"word-spacing:0.0196em;\">31, 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:20.9863em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7238em;top:22.0138em;\"><span class=\"stl_277 stl_15 stl_348\">Mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4144em;top:22.0138em;\"><span class=\"stl_277 stl_15 stl_135\">18,930 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.27em;top:22.0138em;\"><span class=\"stl_277 stl_15 stl_662\">(1,882) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4375em;top:22.0138em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.6188em;top:22.0138em;\"><span class=\"stl_277 stl_15 stl_718\">17,048 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:23.0357em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Security lending (repo transactions) \u00a0</span></div><div class=\"stl_01\" style=\"left:19.675em;top:23.0357em;\"><span class=\"stl_277 stl_15 stl_585\">1,103,661 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.2307em;top:23.0357em;\"><span class=\"stl_277 stl_15 stl_670\">(1,103,661) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4375em;top:23.0357em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.1619em;top:23.0357em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:24.0576em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">Prepayment and loan from Government \u00a0</span></div><div class=\"stl_01\" style=\"left:20.0388em;top:24.0576em;\"><span class=\"stl_277 stl_15 stl_329\">566,420 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.7757em;top:24.0576em;\"><span class=\"stl_277 stl_15 stl_456\">240,000 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.305em;top:24.0576em;\"><span class=\"stl_277 stl_15 stl_307\">(806,420) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1619em;top:24.0576em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:25.0795em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">Lease liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:20.4188em;top:25.0795em;\"><span class=\"stl_277 stl_15 stl_110\">70,321 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.915em;top:25.0795em;\"><span class=\"stl_277 stl_15 stl_59\">(34,270) \u00a0</span></div><div class=\"stl_01\" style=\"left:29.8407em;top:25.0795em;\"><span class=\"stl_277 stl_15 stl_542\">92,203 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.225em;top:25.0795em;\"><span class=\"stl_277 stl_15 stl_562\">128,254 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7232em;top:26.0957em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0344em;\">Total liabilities from financing activities \u00a0</span></div><div class=\"stl_01\" style=\"left:19.4344em;top:26.0957em;\"><span class=\"stl_269 stl_12 stl_172\">1,759,332 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.4513em;top:26.0957em;\"><span class=\"stl_269 stl_12 stl_575\">(899,813) \u00a0</span></div><div class=\"stl_01\" style=\"left:29.1419em;top:26.0957em;\"><span class=\"stl_269 stl_12 stl_133\">(714,217) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.0919em;top:26.0957em;\"><span class=\"stl_269 stl_12 stl_161\">145,302 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8927": {
   "value": "<div class=\"stl_01\" style=\"left:40.0015em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0283em;\">Loans are measured at the time of borrowing at fair \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">value less any transaction costs. Subsequently, debt is \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">measured at amortized cost. This means that the differ- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7297em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">ence between the proceeds of the loan and the amount \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7429em;top:11.2049em;\"><span class=\"stl_353 stl_15 stl_243\" style=\"word-spacing:-0.026em;\">to be repaid is recognized in the income statement over \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7429em;top:12.0381em;\"><span class=\"stl_353 stl_15 stl_285\" 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:55.7429em;top:12.8712em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">effective interest method. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8940": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_477\" style=\"word-spacing:0.007em;\">Note 26 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_154\" style=\"word-spacing:0.0138em;\">Retirement benefit obligations \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">In defined contribution plans, the Group makes regular \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.0387em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">payments of fixed contributions to independent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.8718em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">pension funds and insurance companies. The Group \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.7049em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0309em;\">is under no obligation to pay additional contributions. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.5381em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0314em;\">Costs for defined contribution plans are recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.3712em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0321em;\">the income statement as the Group assumes an obliga- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.2043em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0277em;\">tion to make the payment. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.8712em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0339em;\">In defined benefit plans, the Group is under an obliga- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.7043em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">tion to pay a defined benefit on retirement. The actuar- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.5374em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">ially calculated present value less the fair value of any \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3706em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">plan assets is recognised in the balance sheet under \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.2037em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">retirement benefit obligations. The total service costs \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.0368em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">of the year plus calculated interest based on actuarial \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.8699em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">estimates and financial assumptions at the beginning \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.7031em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">of the year are recognized in the income statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:24.5362em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0297em;\">The difference between the forecast development in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:25.3693em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">plan assets and liabilities and the realized values at \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:26.2024em;\"><span class=\"stl_353 stl_15 stl_51\" 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:38.7402em;top:27.0356em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">and is recognized in other comprehensive income. In \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:27.8687em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0344em;\">connection with a change in benefits regarding the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:28.7018em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">employees\u2019 employment with the Group to date, there \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:29.5349em;\"><span class=\"stl_353 stl_15 stl_290\" 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:38.7402em;top:30.3681em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">present value, which is taken directly to the income \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.2012em;\"><span class=\"stl_353 stl_15 stl_67\">statement. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.1956em;\"><span class=\"stl_352 stl_12 stl_164\" style=\"word-spacing:-0.0365em;\">Defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.0343em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">The Group offers pension plans to all employees in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.8674em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">Denmark and abroad. Most of the pension plans are \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.7006em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.0349em;\">defined contribution plans, expect for the pension plan \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.5337em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">in Bavarian Nordic Berna GmbH, see below. The Group \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:15.3668em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">funds the plans through regular payments of premiums \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:16.1999em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">to independent insurance companies responsible for \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.0331em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">the pension obligations towards the beneficiaries. Once \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:17.8662em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">the pension contributions for defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:18.6993em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">have been made, the Group has no further obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:19.5324em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.028em;\">towards current or former employees. Contributions to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:20.3656em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">defined contribution plans are recognized in the income \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:21.1987em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">statement when paid. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:22.8599em;\"><span class=\"stl_352 stl_12 stl_164\" style=\"word-spacing:-0.0364em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:23.6987em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">The pension plan in Bavarian Nordic Berna GmbH is \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:24.5318em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0325em;\">part of a collective foundation in which other plans \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:25.3649em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">of non-related employers also participate, and the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:26.1981em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">different plans all participate in the various risks \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:27.0312em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">relating to the foundation. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:28.6981em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">Defined benefit liabilities are recognized in the balance \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:29.5312em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0273em;\">sheet and in the income statement as indicated below. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:31.1981em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Employees from Bavarian Nordic Switzerland AG have \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.0312em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">been transferred to Bavarian Nordic Berna GmbH in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:32.8643em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">August 2024 and are included in the new pension plan \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:33.6974em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">as from December 31, 2024. The previous pension plan \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:34.5306em;\"><span class=\"stl_353 stl_15 stl_37\" style=\"word-spacing:-0.0281em;\">in Bavarian Nordic Switzerland AG was recognized as \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:35.3637em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">a contribution benefit plan and therefore no pension \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:36.1968em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">obligation was recognized. The net assets under the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:37.0299em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Bavarian Nordic Berna GmbH pension plan have been \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:37.8631em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">adjusted to include the transferred employees. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2069em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9844em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:11.9639em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Defined contribution plans \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7694em;top:11.9639em;\"><span class=\"stl_277 stl_15 stl_36\">84,966 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.585em;top:11.9639em;\"><span class=\"stl_277 stl_15 stl_227\">66,935 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">Defined benefit plans \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8175em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_38\">31,205 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0238em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_425\">1,116 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:14.002em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0328em;\">Cost of pension plans recognized in income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:30.4188em;top:14.002em;\"><span class=\"stl_269 stl_12 stl_734\">116,171 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4338em;top:14.002em;\"><span class=\"stl_269 stl_12 stl_545\">68,051 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:15.6333em;\"><span class=\"stl_277 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">Current service cost \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8619em;top:15.6333em;\"><span class=\"stl_277 stl_15 stl_740\">12,749 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6419em;top:15.6333em;\"><span class=\"stl_277 stl_15 stl_697\">11,817 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:16.6552em;\"><span class=\"stl_277 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">Past service cost \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9263em;top:16.6552em;\"><span class=\"stl_277 stl_15 stl_741\">17,186 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4225em;top:16.6552em;\"><span class=\"stl_277 stl_15 stl_469\">(12,023) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:17.677em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">Administration expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6032em;top:17.677em;\"><span class=\"stl_277 stl_15 stl_189\">309 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.3894em;top:17.677em;\"><span class=\"stl_277 stl_15 stl_310\">298 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:18.6989em;\"><span class=\"stl_277 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">Net interest expenses \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6325em;top:18.6989em;\"><span class=\"stl_277 stl_15 stl_370\">961 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9494em;top:18.6989em;\"><span class=\"stl_277 stl_15 stl_335\">1,024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.7152em;\"><span class=\"stl_269 stl_12 stl_194\" style=\"word-spacing:-0.0327em;\">Cost of defined benefit plans recognized in income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6807em;top:19.7152em;\"><span class=\"stl_269 stl_12 stl_137\">31,205 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8944em;top:19.7152em;\"><span class=\"stl_269 stl_12 stl_743\">1,116 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.3464em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Actuarial gains/losses on pension obligations \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6125em;top:21.3464em;\"><span class=\"stl_277 stl_15 stl_118\">(89,584) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3838em;top:21.3464em;\"><span class=\"stl_277 stl_15 stl_150\">(34,324) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.3683em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">Actuarial gains/losses on plan assets \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8519em;top:22.3683em;z-index:529;\"><span class=\"stl_277 stl_15 stl_189\">72</span><span class=\"stl_277 stl_15 stl_426\">,</span><span class=\"stl_277 stl_15 stl_367\">194 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9675em;top:22.3683em;\"><span class=\"stl_277 stl_15 stl_744\">1,769 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:23.3845em;\"><span class=\"stl_269 stl_12 stl_282\" style=\"word-spacing:-0.035em;\">Actuarial gains/losses on defined benefit plans recognized in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:24.2177em;\"><span class=\"stl_269 stl_12 stl_90\" style=\"word-spacing:-0.0345em;\">other comprehensive income \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5019em;top:24.2177em;\"><span class=\"stl_269 stl_12 stl_376\">(17,390) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2213em;top:24.2177em;\"><span class=\"stl_269 stl_12 stl_382\">(32,555) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:25.8489em;\"><span class=\"stl_277 stl_15 stl_96\" style=\"word-spacing:-0.0348em;\">Plan assets as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.5075em;top:25.8489em;\"><span class=\"stl_277 stl_15 stl_370\">221,024 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.175em;top:25.8489em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7263em;top:26.8708em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:32.3957em;top:26.8708em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:34.2444em;top:26.8708em;\"><span class=\"stl_277 stl_15 stl_547\">206,938 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7263em;top:27.8927em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0356em;\">Exchange adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9463em;top:27.8927em;\"><span class=\"stl_277 stl_15 stl_110\">(3,492) \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5738em;top:27.8927em;\"><span class=\"stl_277 stl_15 stl_432\">10,648 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7263em;top:28.9145em;\"><span class=\"stl_277 stl_15 stl_65\" style=\"word-spacing:-0.0249em;\">Actual rate of interest \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1163em;top:28.9145em;\"><span class=\"stl_277 stl_15 stl_503\">3,006 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8944em;top:28.9145em;\"><span class=\"stl_277 stl_15 stl_427\">4,542 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7263em;top:29.9364em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">Actuarial gains/losses on plan assets \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8538em;top:29.9364em;z-index:839;\"><span class=\"stl_277 stl_15 stl_189\">72</span><span class=\"stl_277 stl_15 stl_426\">,</span><span class=\"stl_277 stl_15 stl_367\">194 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9694em;top:29.9364em;\"><span class=\"stl_277 stl_15 stl_744\">1,769 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7269em;top:30.9583em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">Administration expenses paid \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4082em;top:30.9583em;\"><span class=\"stl_277 stl_15 stl_321\">(309) \u00a0</span></div><div class=\"stl_01\" style=\"left:35.1919em;top:30.9583em;\"><span class=\"stl_277 stl_15 stl_266\">(298) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7269em;top:31.9802em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">Employer contributions \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8882em;top:31.9802em;\"><span class=\"stl_277 stl_15 stl_730\">14,182 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6019em;top:31.9802em;\"><span class=\"stl_277 stl_15 stl_147\">11,808 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7269em;top:33.002em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">Employee contributions \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1582em;top:33.002em;\"><span class=\"stl_277 stl_15 stl_630\">9,358 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0619em;top:33.002em;\"><span class=\"stl_277 stl_15 stl_636\">7,117 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7269em;top:34.0239em;\"><span class=\"stl_277 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">Benefit paid out \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8207em;top:34.0239em;\"><span class=\"stl_277 stl_15 stl_144\">29,582 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.3807em;top:34.0239em;\"><span class=\"stl_277 stl_15 stl_161\">(21,500) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7263em;top:35.0458em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">Other restructuring events \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8369em;top:35.0458em;\"><span class=\"stl_277 stl_15 stl_575\">41,936 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.1757em;top:35.0458em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7269em;top:36.062em;\"><span class=\"stl_269 stl_12 stl_183\" style=\"word-spacing:-0.0292em;\">Plan assets as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.33em;top:36.062em;\"><span class=\"stl_269 stl_12 stl_156\">387,481 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.1119em;top:36.062em;\"><span class=\"stl_269 stl_12 stl_115\">221,024 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2795em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2227em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0002em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:11.9583em;\"><span class=\"stl_269 stl_12 stl_165\" style=\"word-spacing:-0.0342em;\">Specification of present value of defined benefit obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Present value of defined benefit liability as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.507em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_106\">301,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1895em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4102em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.2702em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_227\">262,925 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_378\" style=\"word-spacing:-0.0356em;\">Exchange adjustments \u00a0</span></div><div class=\"stl_01\" style=\"left:64.9464em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_357\">(5,048) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6083em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_357\">13,529 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Current service costs \u00a0</span></div><div class=\"stl_01\" style=\"left:64.877em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_740\">12,749 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.657em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_697\">11,817 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.0733em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Past service costs</span><sup style=\"top: -0.2067em;\"><span class=\"stl_280 stl_15 stl_742\" style=\"word-spacing:-0.0529em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:64.9414em;top:17.0747em;\"><span class=\"stl_277 stl_15 stl_741\">17,186 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4376em;top:17.0747em;\"><span class=\"stl_277 stl_15 stl_469\">(12,023) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:18.0966em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Calculated interest on liability \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1501em;top:18.0966em;\"><span class=\"stl_277 stl_15 stl_492\">3,967 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9045em;top:18.0966em;\"><span class=\"stl_277 stl_15 stl_216\">5,566 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:19.1185em;\"><span class=\"stl_277 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Actuarial gains/losses, financial assumptions \u00a0</span></div><div class=\"stl_01\" style=\"left:64.867em;top:19.1185em;\"><span class=\"stl_277 stl_15 stl_689\">17,250 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.6407em;top:19.1185em;\"><span class=\"stl_277 stl_15 stl_696\">34,186 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:20.1404em;\"><span class=\"stl_277 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">Actuarial gains/losses, demographic assumptions \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4095em;top:20.1404em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:69.2476em;top:20.1404em;\"><span class=\"stl_277 stl_15 stl_453\">(213) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:21.1622em;\"><span class=\"stl_277 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">Actuarial gains/losses, experience \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7883em;top:21.1622em;\"><span class=\"stl_277 stl_15 stl_336\">72,334 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.4195em;top:21.1622em;\"><span class=\"stl_277 stl_15 stl_156\">352 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:22.1841em;\"><span class=\"stl_277 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">Employee contributions \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1714em;top:22.1841em;\"><span class=\"stl_277 stl_15 stl_368\">9,358 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0751em;top:22.1841em;\"><span class=\"stl_277 stl_15 stl_636\">7,117 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:23.206em;\"><span class=\"stl_277 stl_15 stl_21\" style=\"word-spacing:-0.034em;\">Benefit paid out \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8339em;top:23.206em;\"><span class=\"stl_277 stl_15 stl_144\">29,582 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.3939em;top:23.206em;\"><span class=\"stl_277 stl_15 stl_161\">(21,500) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:24.2279em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">Other restructuring events \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8501em;top:24.2279em;\"><span class=\"stl_277 stl_15 stl_575\">41,936 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1889em;top:24.2279em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:25.2441em;\"><span class=\"stl_269 stl_12 stl_24\" style=\"word-spacing:-0.0332em;\">Present value of defined benefit liability as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3482em;top:25.2441em;\"><span class=\"stl_269 stl_12 stl_120\">501,070 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.127em;top:25.2441em;\"><span class=\"stl_269 stl_12 stl_115\">301,756 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:26.2716em;\"><span class=\"stl_277 stl_15 stl_243\" style=\"word-spacing:-0.0261em;\">Fair value of plan assets as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3264em;top:26.2716em;\"><span class=\"stl_277 stl_15 stl_745\">(387,481) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.0976em;top:26.2716em;\"><span class=\"stl_277 stl_15 stl_151\">(221,024) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7401em;top:27.2879em;\"><span class=\"stl_269 stl_12 stl_165\" style=\"word-spacing:-0.0341em;\">Net liability of defined benefit plans as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3507em;top:27.2879em;\"><span class=\"stl_269 stl_12 stl_118\">113,589 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4626em;top:27.2879em;\"><span class=\"stl_269 stl_12 stl_361\">80,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:28.9191em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0333em;\">Net liability of defined benefit plans as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8207em;top:28.9191em;\"><span class=\"stl_277 stl_15 stl_492\">80,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:70.1882em;top:28.9191em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:29.941em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Additions from acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:66.4089em;top:29.941em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:68.6057em;top:29.941em;\"><span class=\"stl_277 stl_15 stl_643\">55,987 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:30.9629em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.0311em;\">Expenditure for the year \u00a0</span></div><div class=\"stl_01\" style=\"left:64.832em;top:30.9629em;\"><span class=\"stl_277 stl_15 stl_38\">31,205 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0382em;top:30.9629em;\"><span class=\"stl_277 stl_15 stl_425\">1,116 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:31.9847em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Actuarial gains/losses on pension obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:64.8145em;top:31.9847em;\"><span class=\"stl_277 stl_15 stl_303\">89,584 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.582em;top:31.9847em;\"><span class=\"stl_277 stl_15 stl_214\">34,325 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7389em;top:33.0066em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0341em;\">Exchange adjustment \u00a0</span></div><div class=\"stl_01\" style=\"left:64.967em;top:33.0066em;\"><span class=\"stl_277 stl_15 stl_688\">(1,556) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.9026em;top:33.0066em;\"><span class=\"stl_277 stl_15 stl_219\">2,881 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:34.0285em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">Actuarial gains/losses on plan assets \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6601em;top:34.0285em;z-index:2289;\"><span class=\"stl_277 stl_15 stl_204\">(72</span><span class=\"stl_277 stl_15 stl_426\">,</span><span class=\"stl_277 stl_15 stl_567\">194) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8026em;top:34.0285em;\"><span class=\"stl_277 stl_15 stl_747\">(1,769) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:35.0504em;\"><span class=\"stl_277 stl_15 stl_35\" style=\"word-spacing:-0.0271em;\">Payments received \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7232em;top:35.0504em;\"><span class=\"stl_277 stl_15 stl_746\">(14,182) \u00a0</span></div><div class=\"stl_01\" style=\"left:68.4339em;top:35.0504em;\"><span class=\"stl_277 stl_15 stl_748\">(11,808) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7395em;top:36.0666em;\"><span class=\"stl_269 stl_12 stl_165\" style=\"word-spacing:-0.0341em;\">Net liability of defined benefit plans as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:64.3501em;top:36.0666em;\"><span class=\"stl_269 stl_12 stl_118\">113,589 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.462em;top:36.0666em;\"><span class=\"stl_269 stl_12 stl_361\">80,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:37.5914em;\"><span class=\"stl_618 stl_15 stl_27\">1</span></div><div class=\"stl_01\" style=\"left:39.449em;top:37.5538em;\"><span class=\"stl_238 stl_15 stl_506\" style=\"word-spacing:-0.0415em;\">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:39.449em;top:38.1373em;\"><span class=\"stl_238 stl_15 stl_502\" style=\"word-spacing:-0.0463em;\">announced by the Swiss pension provider Servisa in 2023. The impact of this change was calculated as if the change happened as of December \u00a0</span></div><div class=\"stl_01\" style=\"left:39.449em;top:38.7208em;\"><span class=\"stl_238 stl_15 stl_256\" style=\"word-spacing:-0.0458em;\">31, 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:4.7244em;top:10.2795em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1963em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9738em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:11.9583em;\"><span class=\"stl_269 stl_12 stl_278\" style=\"word-spacing:-0.0309em;\">Percentage of plan assets invested in asset category \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_377\">Equity \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9282em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_381\">33.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7288em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_300\">31.0% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_95\">Bonds \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9163em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_57\">25.5% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7038em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_101\">28.4% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_177\">Property \u00a0</span></div><div class=\"stl_01\" style=\"left:30.955em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_364\">13.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7169em;top:15.0295em;\"><span class=\"stl_277 stl_15 stl_106\">16.0% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_282\">Other \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9875em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_649\">27.4% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7225em;top:16.0514em;\"><span class=\"stl_277 stl_15 stl_141\">24.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:17.687em;\"><span class=\"stl_269 stl_12 stl_283\" 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:4.725em;top:18.7145em;\"><span class=\"stl_277 stl_15 stl_48\" style=\"word-spacing:-0.0262em;\">Discount rate \u00a0</span></div><div class=\"stl_01\" style=\"left:30.925em;top:18.7145em;\"><span class=\"stl_277 stl_15 stl_174\">1.00% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.72em;top:18.7145em;\"><span class=\"stl_277 stl_15 stl_134\">1.35% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.725em;top:19.7364em;\"><span class=\"stl_277 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">Future rate of salary increases \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9188em;top:19.7364em;\"><span class=\"stl_277 stl_15 stl_58\">1.80% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7382em;top:19.7364em;\"><span class=\"stl_277 stl_15 stl_224\">1.75% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:20.7583em;\"><span class=\"stl_277 stl_15 stl_274\">Inflation \u00a0</span></div><div class=\"stl_01\" style=\"left:30.9994em;top:20.7583em;\"><span class=\"stl_277 stl_15 stl_632\">1.10% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7082em;top:20.7583em;\"><span class=\"stl_277 stl_15 stl_381\">1.25% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:22.3995em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Assumptions regarding future mortality are set based on actuarial advice in accordance with published statistics and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:23.2327em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.0299em;\">experience. These assumptions translate into an average life expectancy in years for a pensioner retiring at age 65 as \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:24.0658em;\"><span class=\"stl_277 stl_15 stl_61\">follows: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:25.7014em;\"><span class=\"stl_269 stl_12 stl_334\" style=\"word-spacing:-0.0384em;\">Life expectancies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:26.7289em;\"><span class=\"stl_277 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">Retiring aged 65 at the end of the reporting period \u00a0</span></div><div class=\"stl_01\" style=\"left:5.0707em;top:27.7508em;\"><span class=\"stl_277 stl_15 stl_74\">Male \u00a0</span></div><div class=\"stl_01\" style=\"left:31.495em;top:27.7508em;z-index:685;\"><span class=\"stl_277 stl_15 stl_317\">22</span><span class=\"stl_277 stl_15 stl_574\">.</span><span class=\"stl_277 stl_15 stl_574\">1 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.2275em;top:27.7508em;\"><span class=\"stl_277 stl_15 stl_429\">22.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:5.0707em;top:28.7727em;\"><span class=\"stl_277 stl_15 stl_194\">Female \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4563em;top:28.7727em;\"><span class=\"stl_277 stl_15 stl_361\">23.9 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.2288em;top:28.7727em;\"><span class=\"stl_277 stl_15 stl_57\">23.8 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7257em;top:30.4139em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0289em;\">Retiring aged 65, 20 years after the end of the reporting period \u00a0</span></div><div class=\"stl_01\" style=\"left:5.0707em;top:31.4358em;\"><span class=\"stl_277 stl_15 stl_74\">Male \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5213em;top:31.4358em;z-index:779;\"><span class=\"stl_277 stl_15 stl_751\">24.1 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.2538em;top:31.4358em;\"><span class=\"stl_277 stl_15 stl_300\">24.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:5.0713em;top:32.4577em;\"><span class=\"stl_277 stl_15 stl_194\">Female \u00a0</span></div><div class=\"stl_01\" style=\"left:31.4507em;top:32.4577em;\"><span class=\"stl_277 stl_15 stl_547\">25.8 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.2432em;top:32.4577em;\"><span class=\"stl_277 stl_15 stl_143\">25.7 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7269em;top:34.2989em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">The contributions to the plan for 2025 are expected in the same level as in 2024. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7425em;top:10.2158em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">The below sensitivity analysis shows the change in one of the actuarial assumptions, while other assumptions are kept \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7425em;top:11.0489em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">constant. In practice, this is unlikely to occur as changes in some of the assumptions may be correlated. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7425em;top:12.7158em;\"><span class=\"stl_353 stl_15 stl_315\" style=\"word-spacing:-0.0294em;\">Percentage increase/decrease in the gross liability resulting from a change in a single actuarial assumption. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:14.9878em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2227em;top:14.9821em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0002em;top:14.9821em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:63.4202em;top:16.6721em;\"><span class=\"stl_277 stl_15 stl_328\" style=\"word-spacing:0.6498em;\">+0.5%-point +0.5%-point \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:17.694em;\"><span class=\"stl_277 stl_15 stl_48\" style=\"word-spacing:-0.0262em;\">Discount rate \u00a0</span></div><div class=\"stl_01\" style=\"left:65.1689em;top:17.694em;\"><span class=\"stl_277 stl_15 stl_749\">-7.7% \u00a0</span></div><div class=\"stl_01\" style=\"left:68.8283em;top:17.694em;\"><span class=\"stl_277 stl_15 stl_427\">-8.2% \u00a0</span></div><div class=\"stl_01\" style=\"left:64.7333em;top:19.3196em;\"><span class=\"stl_277 stl_15 stl_750\" style=\"word-spacing:0.0215em;\">+1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5127em;top:19.3196em;\"><span class=\"stl_277 stl_15 stl_664\" style=\"word-spacing:0.022em;\">+1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.3415em;\"><span class=\"stl_277 stl_15 stl_430\" style=\"word-spacing:-0.0422em;\">Life expectancy \u00a0</span></div><div class=\"stl_01\" style=\"left:65.3045em;top:20.3415em;\"><span class=\"stl_277 stl_15 stl_491\">1.7% \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0708em;top:20.3415em;\"><span class=\"stl_277 stl_15 stl_134\">1.5% \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDefinedContributionPlansExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8976": {
   "value": "<div class=\"stl_01\" style=\"left:4.7244em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_27\" style=\"word-spacing:0em;\">Note 29 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_128\" style=\"word-spacing:0.0119em;\">Share-based payment \u00a0</span></div><div class=\"stl_01\" style=\"left:16.2659em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_271\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:40.124em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_271\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:46.7334em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_95\" style=\"word-spacing:-0.038em;\">Can be \u00a0</span></div><div class=\"stl_01\" style=\"left:50.9852em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_181\">Average \u00a0</span></div><div class=\"stl_01\" style=\"left:18.4552em;top:11.0239em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of \u00a0</span></div><div class=\"stl_01\" style=\"left:42.3134em;top:11.0239em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:44.350em;top:11.0239em;\"><span class=\"stl_269 stl_12 stl_288\" 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_269 stl_12 stl_35\">exercise \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_180\" style=\"word-spacing:-0.0238em;\">Warrant overview \u2013 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.0796em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_520\" style=\"word-spacing:-0.049em;\">January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7909em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_392\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:26.584em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_285\">Exercised \u00a0</span></div><div class=\"stl_01\" style=\"left:31.3827em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_513\">Annulled \u00a0</span></div><div class=\"stl_01\" style=\"left:35.4371em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_192\">Terminated \u00a0</span></div><div class=\"stl_01\" style=\"left:39.9202em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_44\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.8809em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_44\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.1452em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_55\" 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_15 stl_329\" style=\"word-spacing:-0.0126em;\">November 2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.7334em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_408\">513,754 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3421em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:26.9027em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_535\">(488,446) \u00a0</span></div><div class=\"stl_01\" style=\"left:32.0784em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_588\">(12,164) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8171em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_664\">(13,144) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.4759em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.4365em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.3927em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_38\">146 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_243\" style=\"word-spacing:-0.026em;\">January 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.414em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_406\">7,039 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3421em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:27.6615em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_585\">(7,039) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.7915em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.5159em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.4765em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.4371em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.3978em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_123\">156 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_178\" style=\"word-spacing:-0.0176em;\">November 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.2615em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_748\">1,098,180 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3434em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:26.9746em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_116\">(261,538) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.999em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_328\">(25,628) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5165em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6284em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_697\">811,014 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.589em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_697\">811,014 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.3903em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_266\">207 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_219\" style=\"word-spacing:-0.0154em;\">November 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.7678em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_579\">651,074 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3434em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:29.0678em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:32.0796em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_629\">(40,611) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5165em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.5771em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_135\">610,463 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4378em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.394em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_38\">353 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:17.5514em;\"><span class=\"stl_277 stl_15 stl_63\" style=\"word-spacing:-0.0243em;\">April 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:18.0221em;top:17.5514em;\"><span class=\"stl_277 stl_15 stl_27\">81,872 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3434em;top:17.5514em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:29.0678em;top:17.5514em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7921em;top:17.5514em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.5165em;top:17.5514em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.8803em;top:17.5514em;\"><span class=\"stl_277 stl_15 stl_27\">81,872 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4378em;top:17.5514em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.394em;top:17.5514em;\"><span class=\"stl_277 stl_15 stl_38\">190 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:18.5733em;\"><span class=\"stl_277 stl_15 stl_297\" style=\"word-spacing:-0.0226em;\">December 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.7078em;top:18.5733em;\"><span class=\"stl_277 stl_15 stl_393\">910,438 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3434em;top:18.5733em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:29.0678em;top:18.5733em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.969em;top:18.5733em;\"><span class=\"stl_277 stl_15 stl_545\">(78,044) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5165em;top:18.5733em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.549em;top:18.5733em;\"><span class=\"stl_277 stl_15 stl_322\">832,394 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4378em;top:18.5733em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.1096em;top:18.5733em;\"><span class=\"stl_277 stl_15 stl_57\">225/271 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:19.5952em;\"><span class=\"stl_277 stl_15 stl_188\" style=\"word-spacing:-0.0218em;\">December 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:17.1878em;top:19.5952em;\"><span class=\"stl_277 stl_15 stl_389\">1,258,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:24.3434em;top:19.5952em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:29.0678em;top:19.5952em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.8146em;top:19.5952em;\"><span class=\"stl_277 stl_15 stl_755\">(115,179) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.5165em;top:19.5952em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.1565em;top:19.5952em;\"><span class=\"stl_277 stl_15 stl_707\">1,143,379 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4377em;top:19.5952em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.1534em;top:19.5952em;\"><span class=\"stl_277 stl_15 stl_116\">172/192 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:20.617em;\"><span class=\"stl_277 stl_15 stl_724\" style=\"word-spacing:-0.0158em;\">December 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:19.619em;top:20.617em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:22.014em;top:20.617em;\"><span class=\"stl_277 stl_15 stl_145\">1,156,783 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.0678em;top:20.617em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:33.7921em;top:20.617em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.5165em;top:20.617em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.1478em;top:20.617em;\"><span class=\"stl_277 stl_15 stl_566\">1,156,783 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4378em;top:20.617em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.1215em;top:20.617em;\"><span class=\"stl_277 stl_15 stl_101\">199/223 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:21.6333em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:17.0184em;top:21.6333em;\"><span class=\"stl_269 stl_12 stl_328\">4,520,915 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7928em;top:21.6333em;\"><span class=\"stl_269 stl_12 stl_510\">1,156,783 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8203em;top:21.6333em;\"><span class=\"stl_269 stl_12 stl_644\">(757,023) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.509em;top:21.6333em;\"><span class=\"stl_269 stl_12 stl_149\">(271,626) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.6471em;top:21.6333em;\"><span class=\"stl_269 stl_12 stl_588\">(13,144) \u00a0</span></div><div class=\"stl_01\" style=\"left:40.8478em;top:21.6333em;\"><span class=\"stl_269 stl_12 stl_298\">4,635,905 \u00a0</span></div><div class=\"stl_01\" style=\"left:46.4234em;top:21.6333em;\"><span class=\"stl_269 stl_12 stl_679\">811,014 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.2365em;top:23.9675em;\"><span class=\"stl_269 stl_12 stl_271\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:49.8196em;top:23.9675em;\"><span class=\"stl_269 stl_12 stl_271\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:23.4259em;top:24.7175em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of \u00a0</span></div><div class=\"stl_01\" style=\"left:52.009em;top:24.7175em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.4675em;\"><span class=\"stl_269 stl_12 stl_180\" style=\"word-spacing:-0.0238em;\">Warrant overview \u2013 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:22.0503em;top:25.4675em;\"><span class=\"stl_269 stl_12 stl_520\" style=\"word-spacing:-0.049em;\">January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7615em;top:25.4675em;\"><span class=\"stl_269 stl_12 stl_392\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5546em;top:25.4675em;\"><span class=\"stl_269 stl_12 stl_285\">Exercised \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3534em;top:25.4675em;\"><span class=\"stl_269 stl_12 stl_513\">Annulled \u00a0</span></div><div class=\"stl_01\" style=\"left:40.4078em;top:25.4675em;\"><span class=\"stl_269 stl_12 stl_192\">Terminated \u00a0</span></div><div class=\"stl_01\" style=\"left:45.1203em;top:25.4675em;\"><span class=\"stl_269 stl_12 stl_44\">Transferred \u00a0</span></div><div class=\"stl_01\" style=\"left:49.6159em;top:25.4675em;\"><span class=\"stl_269 stl_12 stl_44\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:27.1575em;\"><span class=\"stl_277 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">Corporate Management \u00a0</span></div><div class=\"stl_01\" style=\"left:22.6728em;top:27.1575em;\"><span class=\"stl_277 stl_15 stl_492\">669,064 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.7065em;top:27.1575em;\"><span class=\"stl_277 stl_15 stl_295\">80,839 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9909em;top:27.1575em;\"><span class=\"stl_277 stl_15 stl_598\">(141,771) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7615em;top:27.1575em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.4859em;top:27.1575em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.2103em;top:27.1575em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.3015em;top:27.1575em;z-index:1077;\"><span class=\"stl_277 stl_15 stl_179\">608</span><span class=\"stl_277 stl_15 stl_648\">,</span><span class=\"stl_277 stl_15 stl_744\">132 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.1794em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:22.6421em;top:28.1794em;\"><span class=\"stl_277 stl_15 stl_402\">484,041 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.779em;top:28.1794em;\"><span class=\"stl_277 stl_15 stl_423\">37,435 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.6315em;top:28.1794em;\"><span class=\"stl_277 stl_15 stl_585\">(7,039) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7615em;top:28.1794em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.4859em;top:28.1794em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:46.1471em;top:28.1794em;\"><span class=\"stl_277 stl_15 stl_379\">(129,050) \u00a0</span></div><div class=\"stl_01\" style=\"left:51.2271em;top:28.1794em;\"><span class=\"stl_277 stl_15 stl_211\">385,387 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:29.2012em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Other employees \u00a0</span></div><div class=\"stl_01\" style=\"left:22.189em;top:29.2012em;\"><span class=\"stl_277 stl_15 stl_346\">2,916,601 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8903em;top:29.2012em;\"><span class=\"stl_277 stl_15 stl_543\">1,038,509 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.8934em;top:29.2012em;\"><span class=\"stl_277 stl_15 stl_308\">(404,904) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.6621em;top:29.2012em;\"><span class=\"stl_277 stl_15 stl_155\">(271,626) \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0396em;top:29.2012em;\"><span class=\"stl_277 stl_15 stl_123\">(2,916) \u00a0</span></div><div class=\"stl_01\" style=\"left:46.149em;top:29.2012em;\"><span class=\"stl_277 stl_15 stl_587\">(176,975) \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7253em;top:29.2012em;\"><span class=\"stl_277 stl_15 stl_577\">3,098,689 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:30.2231em;\"><span class=\"stl_277 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">Resigned employees \u00a0</span></div><div class=\"stl_01\" style=\"left:22.6778em;top:30.2231em;\"><span class=\"stl_277 stl_15 stl_163\">451,209 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3134em;top:30.2231em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.9034em;top:30.2231em;\"><span class=\"stl_277 stl_15 stl_312\">(203,309) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7621em;top:30.2231em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.7134em;top:30.2231em;\"><span class=\"stl_277 stl_15 stl_132\">(10,228) \u00a0</span></div><div class=\"stl_01\" style=\"left:46.2746em;top:30.2231em;\"><span class=\"stl_277 stl_15 stl_562\">306,025 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.254em;top:30.2231em;\"><span class=\"stl_277 stl_15 stl_227\">543,697 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:31.2394em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:21.9878em;top:31.2394em;\"><span class=\"stl_269 stl_12 stl_328\">4,520,915 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7621em;top:31.2394em;\"><span class=\"stl_269 stl_12 stl_510\">1,156,783 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.7896em;top:31.2394em;\"><span class=\"stl_269 stl_12 stl_467\">(757,023) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.4784em;top:31.2394em;\"><span class=\"stl_269 stl_12 stl_149\">(271,626) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.6165em;top:31.2394em;\"><span class=\"stl_269 stl_12 stl_588\">(13,144) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.2034em;top:31.2394em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:50.5415em;top:31.2394em;\"><span class=\"stl_269 stl_12 stl_298\">4,635,905 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:32.865em;\"><span class=\"stl_269 stl_12 stl_68\" style=\"word-spacing:-0.0293em;\">Weighted average exercise price (DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7409em;top:32.865em;\"><span class=\"stl_269 stl_12 stl_207\">226 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.4728em;top:32.865em;\"><span class=\"stl_269 stl_12 stl_174\">221 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.2153em;top:32.865em;\"><span class=\"stl_269 stl_12 stl_335\">167 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.9065em;top:32.865em;\"><span class=\"stl_269 stl_12 stl_31\">223 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.6671em;top:32.865em;\"><span class=\"stl_269 stl_12 stl_398\">147 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.204em;top:32.865em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.3184em;top:32.865em;\"><span class=\"stl_269 stl_12 stl_45\">234 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:33.8869em;\"><span class=\"stl_269 stl_12 stl_288\" style=\"word-spacing:-0.0282em;\">Weighted average share price at exercise (DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.2059em;top:33.8869em;\"><span class=\"stl_269 stl_12 stl_107\">241 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:35.5181em;\"><span class=\"stl_277 stl_15 stl_56\" style=\"word-spacing:-0.0244em;\">Number of warrants which can be exercised as of December 31, 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.3234em;top:35.5181em;\"><span class=\"stl_277 stl_15 stl_697\">811,014 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7153em;top:36.54em;\"><span class=\"stl_277 stl_15 stl_65\" style=\"word-spacing:-0.0249em;\">at a weighted average exercise price of DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:52.4003em;top:36.54em;\"><span class=\"stl_277 stl_15 stl_266\">207 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.2365em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_271\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:49.8196em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_271\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:23.4259em;top:11.0239em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of \u00a0</span></div><div class=\"stl_01\" style=\"left:52.009em;top:11.0239em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_63\" style=\"word-spacing:-0.0243em;\">Warrant overview \u2013 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:22.0502em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_520\" style=\"word-spacing:-0.049em;\">January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7615em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_392\">Additions \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5546em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_285\">Exercised \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3534em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_513\">Annulled \u00a0</span></div><div class=\"stl_01\" style=\"left:40.4077em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_192\">Terminated \u00a0</span></div><div class=\"stl_01\" style=\"left:45.1202em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_44\">Transferred \u00a0</span></div><div class=\"stl_01\" style=\"left:49.6159em;top:11.7739em;\"><span class=\"stl_269 stl_12 stl_44\" 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_15 stl_51\" style=\"word-spacing:-0.032em;\">Corporate Management \u00a0</span></div><div class=\"stl_01\" style=\"left:22.6746em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_163\">725,932 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.7365em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_147\">83,921 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9521em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_201\">(140,789) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7609em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.4852em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.2096em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2552em;top:13.4639em;\"><span class=\"stl_277 stl_15 stl_492\">669,064 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">Other Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:22.6877em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_118\">429,550 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.754em;top:14.4858em;z-index:1002;\"><span class=\"stl_277 stl_15 stl_199\">7</span><span class=\"stl_277 stl_15 stl_426\">7</span><span class=\"stl_277 stl_15 stl_205\">,491 \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2196em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_547\">(23,000) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7602em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.4846em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.209em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2234em;top:14.4858em;\"><span class=\"stl_277 stl_15 stl_402\">484,041 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Other employees \u00a0</span></div><div class=\"stl_01\" style=\"left:22.2565em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_756\">1,982,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0127em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_757\">1,097,146 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.9515em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_745\">(100,020) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.9821em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_122\">(42,799) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.764em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_721\">(19,853) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.2096em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:50.7709em;top:15.5077em;\"><span class=\"stl_277 stl_15 stl_346\">2,916,601 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">Resigned employees \u00a0</span></div><div class=\"stl_01\" style=\"left:22.6815em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_115\">514,398 \u00a0</span></div><div class=\"stl_01\" style=\"left:29.3121em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:32.294em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_587\">(51,810) \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7609em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.7546em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_729\">(11,379) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.2096em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:51.2596em;top:16.5295em;\"><span class=\"stl_277 stl_15 stl_163\">451,209 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.5458em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:21.9509em;top:17.5458em;\"><span class=\"stl_269 stl_12 stl_218\">3,652,007 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6709em;top:17.5458em;\"><span class=\"stl_269 stl_12 stl_208\">1,258,558 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.7909em;top:17.5458em;\"><span class=\"stl_269 stl_12 stl_367\">(315,619) \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8184em;top:17.5458em;\"><span class=\"stl_269 stl_12 stl_128\">(42,799) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5634em;top:17.5458em;\"><span class=\"stl_269 stl_12 stl_159\">(31,232) \u00a0</span></div><div class=\"stl_01\" style=\"left:48.2027em;top:17.5458em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:50.5702em;top:17.5458em;\"><span class=\"stl_269 stl_12 stl_328\">4,520,915 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:19.1714em;\"><span class=\"stl_269 stl_12 stl_68\" style=\"word-spacing:-0.0293em;\">Weighted average exercise price (DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:23.7528em;top:19.1714em;\"><span class=\"stl_269 stl_12 stl_131\">231 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.4778em;top:19.1714em;\"><span class=\"stl_269 stl_12 stl_106\">189 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.2009em;top:19.1714em;\"><span class=\"stl_269 stl_12 stl_38\">144 \u00a0</span></div><div class=\"stl_01\" style=\"left:37.9178em;top:19.1714em;\"><span class=\"stl_269 stl_12 stl_322\">252 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.6603em;top:19.1714em;\"><span class=\"stl_269 stl_12 stl_419\">142 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.2021em;top:19.1714em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:52.3221em;top:19.1714em;\"><span class=\"stl_269 stl_12 stl_207\">226 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:20.1933em;\"><span class=\"stl_269 stl_12 stl_288\" style=\"word-spacing:-0.0282em;\">Weighted average share price at exercise (DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:33.2146em;top:20.1933em;\"><span class=\"stl_269 stl_12 stl_335\">179 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:21.8245em;\"><span class=\"stl_277 stl_15 stl_44\" 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:21.8245em;\"><span class=\"stl_277 stl_15 stl_137\">520,793 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:22.8464em;\"><span class=\"stl_277 stl_15 stl_65\" 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_15 stl_367\">142 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:25.1744em;\"><span class=\"stl_269 stl_12 stl_24\" style=\"word-spacing:-0.0332em;\">Specification of parameters for Black-Scholes model \u00a0</span></div><div class=\"stl_01\" style=\"left:29.654em;top:25.1744em;\"><span class=\"stl_269 stl_12 stl_266\" style=\"word-spacing:0.005em;\">Nov. 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.8434em;top:25.1744em;\"><span class=\"stl_269 stl_12 stl_130\" style=\"word-spacing:0.0103em;\">Nov. 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.1134em;top:25.1744em;\"><span class=\"stl_269 stl_12 stl_451\" style=\"word-spacing:-0.009em;\">Apr. 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0265em;top:25.1744em;\"><span class=\"stl_269 stl_12 stl_29\" style=\"word-spacing:-0.0199em;\">Dec. 2022</span><sup style=\"top: -0.2081em;\"><span class=\"stl_394 stl_12 stl_165\" style=\"word-spacing:-0.0342em;\">3 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:46.2212em;top:25.1744em;\"><span class=\"stl_269 stl_12 stl_504\" style=\"word-spacing:-0.0137em;\">Dec. 2023</span><sup style=\"top: -0.2081em;\"><span class=\"stl_394 stl_12 stl_42\" style=\"word-spacing:-0.0235em;\">3 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:50.3959em;top:25.1744em;\"><span class=\"stl_269 stl_12 stl_409\" style=\"word-spacing:-0.0166em;\">Dec. 2024</span><sup style=\"top: -0.2081em;\"><span class=\"stl_394 stl_12 stl_284\" style=\"word-spacing:-0.0285em;\">3 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:4.714em;top:26.8646em;\"><span class=\"stl_277 stl_15 stl_180\" style=\"word-spacing:-0.0237em;\">Average share price \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7209em;top:26.8646em;\"><span class=\"stl_277 stl_15 stl_688\">179.84 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9134em;top:26.8646em;\"><span class=\"stl_277 stl_15 stl_655\">307.20 \u00a0</span></div><div class=\"stl_01\" style=\"left:39.0909em;top:26.8646em;\"><span class=\"stl_277 stl_15 stl_671\">171.35 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2509em;top:26.8646em;\"><span class=\"stl_277 stl_15 stl_142\">224.70 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4102em;top:26.8646em;\"><span class=\"stl_277 stl_15 stl_542\">172.40 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5965em;top:26.8646em;\"><span class=\"stl_277 stl_15 stl_228\">198.90 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:27.8865em;\"><span class=\"stl_277 stl_15 stl_179\" style=\"word-spacing:-0.0245em;\">Average exercise price at grant \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6746em;top:27.8865em;\"><span class=\"stl_277 stl_15 stl_416\">206.82 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.8777em;top:27.8865em;\"><span class=\"stl_277 stl_15 stl_492\">353.06 \u00a0</span></div><div class=\"stl_01\" style=\"left:39.1471em;top:27.8865em;\"><span class=\"stl_277 stl_15 stl_758\">190.11 \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2534em;top:27.8865em;\"><span class=\"stl_277 stl_15 stl_127\">270.91 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4352em;top:27.8865em;\"><span class=\"stl_277 stl_15 stl_125\">191.58 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5771em;top:27.8865em;\"><span class=\"stl_277 stl_15 stl_402\">223.33 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:28.9084em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Average exercise price at grant \u2013 Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2509em;top:28.9084em;\"><span class=\"stl_277 stl_15 stl_142\">224.70 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4102em;top:28.9084em;\"><span class=\"stl_277 stl_15 stl_542\">172.40 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.5965em;top:28.9084em;\"><span class=\"stl_277 stl_15 stl_228\">198.90 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:29.9303em;\"><span class=\"stl_277 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">Applied volatility rate</span><sup style=\"top: -0.2074em;\"><span class=\"stl_280 stl_15 stl_760\" style=\"word-spacing:-0.0532em;\">2 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:30.8374em;top:29.931em;\"><span class=\"stl_277 stl_15 stl_158\">39.8% \u00a0</span></div><div class=\"stl_01\" style=\"left:35.0199em;top:29.931em;\"><span class=\"stl_277 stl_15 stl_138\">41.8% \u00a0</span></div><div class=\"stl_01\" style=\"left:39.1687em;top:29.931em;\"><span class=\"stl_277 stl_15 stl_389\">42.3% \u00a0</span></div><div class=\"stl_01\" style=\"left:43.3549em;top:29.931em;\"><span class=\"stl_277 stl_15 stl_291\">46.6% \u00a0</span></div><div class=\"stl_01\" style=\"left:47.5412em;top:29.931em;\"><span class=\"stl_277 stl_15 stl_202\">53.3% \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7855em;top:29.931em;z-index:1913;\"><span class=\"stl_277 stl_15 stl_58\">5</span><span class=\"stl_277 stl_15 stl_403\">7</span><span class=\"stl_277 stl_15 stl_118\">.7% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7143em;top:30.9529em;\"><span class=\"stl_277 stl_15 stl_189\" style=\"word-spacing:-0.025em;\">Expected life (years) \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6911em;top:30.9529em;\"><span class=\"stl_277 stl_15 stl_408\">3.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:35.8724em;top:30.9529em;\"><span class=\"stl_277 stl_15 stl_408\">3.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:40.0536em;top:30.9529em;\"><span class=\"stl_277 stl_15 stl_408\">3.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.2349em;top:30.9529em;\"><span class=\"stl_277 stl_15 stl_408\">3.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.4161em;top:30.9529em;\"><span class=\"stl_277 stl_15 stl_408\">3.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.5974em;top:30.9529em;\"><span class=\"stl_277 stl_15 stl_408\">3.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7149em;top:31.9747em;\"><span class=\"stl_277 stl_15 stl_458\" style=\"word-spacing:-0.0366em;\">Expected dividend per share \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2793em;top:31.9747em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.4605em;top:31.9747em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:40.6418em;top:31.9747em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:44.823em;top:31.9747em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:49.0043em;top:31.9747em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:53.1855em;top:31.9747em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:4.7155em;top:32.9966em;\"><span class=\"stl_277 stl_15 stl_45\" style=\"word-spacing:-0.0179em;\">Risk-free interest rate p.a. \u00a0</span></div><div class=\"stl_01\" style=\"left:30.588em;top:32.9966em;\"><span class=\"stl_277 stl_15 stl_509\">-0.66% \u00a0</span></div><div class=\"stl_01\" style=\"left:34.7693em;top:32.9966em;\"><span class=\"stl_277 stl_15 stl_416\">-0.53% \u00a0</span></div><div class=\"stl_01\" style=\"left:39.1668em;top:32.9966em;\"><span class=\"stl_277 stl_15 stl_475\">0.39% \u00a0</span></div><div class=\"stl_01\" style=\"left:43.3599em;top:32.9966em;\"><span class=\"stl_277 stl_15 stl_27\">2.04% \u00a0</span></div><div class=\"stl_01\" style=\"left:47.5399em;top:32.9966em;\"><span class=\"stl_277 stl_15 stl_232\">2.55% \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7474em;top:32.9966em;\"><span class=\"stl_277 stl_15 stl_152\">1.65% \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7155em;top:34.0185em;\"><span class=\"stl_277 stl_15 stl_181\" style=\"word-spacing:-0.0269em;\">Fair value per share at grant</span><sup style=\"top: -0.2072em;\"><span class=\"stl_280 stl_15 stl_502\" style=\"word-spacing:-0.0462em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:31.8466em;top:34.0194em;\"><span class=\"stl_277 stl_15 stl_356\">41 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.0378em;top:34.0194em;\"><span class=\"stl_277 stl_15 stl_372\">76 \u00a0</span></div><div class=\"stl_01\" style=\"left:40.201em;top:34.0194em;\"><span class=\"stl_277 stl_15 stl_158\">47 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.3628em;top:34.0194em;\"><span class=\"stl_277 stl_15 stl_513\">64 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.5597em;top:34.0194em;\"><span class=\"stl_277 stl_15 stl_59\">62 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.7428em;top:34.0194em;\"><span class=\"stl_277 stl_15 stl_38\">75 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7135em;top:35.0413em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0295em;\">Fair value per share at grant \u2013 Executive Management</span><sup style=\"top: -0.2079em;\"><span class=\"stl_280 stl_15 stl_185\" style=\"word-spacing:-0.0507em;\">1 \u00a0</span></sup></div><div class=\"stl_01\" style=\"left:44.3789em;top:35.0416em;\"><span class=\"stl_277 stl_15 stl_59\">78 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.5445em;top:35.0416em;\"><span class=\"stl_277 stl_15 stl_186\">68 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.7408em;top:35.0416em;\"><span class=\"stl_277 stl_15 stl_59\">82 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:12.5072em;\"><span class=\"stl_353 stl_15 stl_42\" style=\"word-spacing:-0.0233em;\">Recognized costs in 2024 DKK 57.0 million compared to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.3403em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">DKK 48.0 million in 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:27.8661em;\"><span class=\"stl_238 stl_15 stl_27\">1</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:27.8661em;\"><span class=\"stl_238 stl_15 stl_186\" style=\"word-spacing:-0.0419em;\">Fair value of each warrant at grant date applying the Black- \u00a0</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:28.4496em;\"><span class=\"stl_238 stl_15 stl_759\" style=\"word-spacing:-0.0524em;\">Scholes model \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:29.0331em;\"><span class=\"stl_238 stl_15 stl_27\">2</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:29.0331em;\"><span class=\"stl_238 stl_15 stl_199\" style=\"word-spacing:-0.046em;\">The applied volatility is based on the volatility for a peer group. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.748em;top:29.6166em;\"><span class=\"stl_238 stl_15 stl_27\">3</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:29.6166em;\"><span class=\"stl_238 stl_15 stl_309\" style=\"word-spacing:-0.045em;\">The December 2022, December 2023 and December 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:30.2001em;\"><span class=\"stl_238 stl_15 stl_471\" style=\"word-spacing:-0.0443em;\">program have two set of exercise conditions. Executive Manage- \u00a0</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:30.7836em;\"><span class=\"stl_238 stl_15 stl_540\" style=\"word-spacing:-0.0432em;\">ment can subscribe future shares at a exercise price of DKK \u00a0</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:31.3671em;\"><span class=\"stl_238 stl_15 stl_39\" style=\"word-spacing:-0.04em;\">224.70/172.40/198.90 per share equivalent to the market price \u00a0</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:31.9506em;\"><span class=\"stl_238 stl_15 stl_761\" style=\"word-spacing:-0.0436em;\">of Bavarian Nordic's shares at the time of grant. Vesting of the \u00a0</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:32.5341em;\"><span class=\"stl_238 stl_15 stl_239\" style=\"word-spacing:-0.047em;\">warrants is subject to prior fulfilment of KPI's as determined by \u00a0</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:33.1176em;\"><span class=\"stl_238 stl_15 stl_502\" style=\"word-spacing:-0.0462em;\">the Board of Directors. Other employees can subscribe future \u00a0</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:33.7011em;\"><span class=\"stl_238 stl_15 stl_271\" style=\"word-spacing:-0.0425em;\">shares at a exercise price of DKK 270.91/191.58/223.33 per share, \u00a0</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:34.2846em;\"><span class=\"stl_238 stl_15 stl_93\" style=\"word-spacing:-0.0389em;\">determined as the average market price (closing price) of the \u00a0</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:34.8681em;\"><span class=\"stl_238 stl_15 stl_309\" style=\"word-spacing:-0.045em;\">Company's shares on Nasdaq Copenhagen over a period of 15 \u00a0</span></div><div class=\"stl_01\" style=\"left:56.4565em;top:35.4516em;\"><span class=\"stl_238 stl_15 stl_261\" 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_269 stl_12 stl_282\" style=\"word-spacing:-0.0351em;\">Exercise periods \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0627em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_287\" 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_15 stl_724\" style=\"word-spacing:-0.0158em;\">December 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0627em;top:11.9639em;\"><span class=\"stl_277 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">Annual Report 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5115em;top:11.9639em;\"><span class=\"stl_277 stl_15 stl_204\" style=\"word-spacing:-0.0213em;\">Interim Report Q1 2028 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9602em;top:11.9639em;\"><span class=\"stl_277 stl_15 stl_34\" style=\"word-spacing:-0.0204em;\">Interim Report Q2 2028 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.409em;top:11.9639em;\"><span class=\"stl_277 stl_15 stl_31\" style=\"word-spacing:-0.0211em;\">Interim Report Q3 2028 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0627em;top:12.797em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">Annual Report 2028 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5115em;top:12.797em;\"><span class=\"stl_277 stl_15 stl_188\" style=\"word-spacing:-0.0219em;\">Interim Report Q1 2029 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9602em;top:12.797em;\"><span class=\"stl_277 stl_15 stl_31\" style=\"word-spacing:-0.0209em;\">Interim Report Q2 2029 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.409em;top:12.797em;\"><span class=\"stl_277 stl_15 stl_79\" style=\"word-spacing:-0.0216em;\">Interim Report Q3 2029 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:13.8189em;\"><span class=\"stl_277 stl_15 stl_188\" style=\"word-spacing:-0.0218em;\">December 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0621em;top:13.8189em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Annual Report 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5109em;top:13.8189em;\"><span class=\"stl_277 stl_15 stl_313\" style=\"word-spacing:-0.0205em;\">Interim Report Q1 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9596em;top:13.8189em;\"><span class=\"stl_277 stl_15 stl_337\" style=\"word-spacing:-0.0196em;\">Interim Report Q2 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4084em;top:13.8189em;\"><span class=\"stl_277 stl_15 stl_279\" style=\"word-spacing:-0.0203em;\">Interim Report Q3 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0621em;top:14.652em;\"><span class=\"stl_277 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">Annual Report 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5109em;top:14.652em;\"><span class=\"stl_277 stl_15 stl_204\" style=\"word-spacing:-0.0213em;\">Interim Report Q1 2028 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9596em;top:14.652em;\"><span class=\"stl_277 stl_15 stl_34\" style=\"word-spacing:-0.0204em;\">Interim Report Q2 2028 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4084em;top:14.652em;\"><span class=\"stl_277 stl_15 stl_31\" style=\"word-spacing:-0.0211em;\">Interim Report Q3 2028 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7127em;top:15.6739em;\"><span class=\"stl_277 stl_15 stl_297\" style=\"word-spacing:-0.0226em;\">December 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0615em;top:15.6739em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Annual Report 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5102em;top:15.6739em;\"><span class=\"stl_277 stl_15 stl_279\" style=\"word-spacing:-0.0203em;\">Interim Report Q1 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.959em;top:15.6739em;\"><span class=\"stl_277 stl_15 stl_315\" style=\"word-spacing:-0.0193em;\">Interim Report Q2 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4077em;top:15.6739em;\"><span class=\"stl_277 stl_15 stl_29\" style=\"word-spacing:-0.02em;\">Interim Report Q3 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0615em;top:16.507em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Annual Report 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5102em;top:16.507em;\"><span class=\"stl_277 stl_15 stl_313\" style=\"word-spacing:-0.0205em;\">Interim Report Q1 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.959em;top:16.507em;\"><span class=\"stl_277 stl_15 stl_337\" style=\"word-spacing:-0.0196em;\">Interim Report Q2 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4077em;top:16.507em;\"><span class=\"stl_277 stl_15 stl_279\" style=\"word-spacing:-0.0203em;\">Interim Report Q3 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7121em;top:17.5289em;\"><span class=\"stl_277 stl_15 stl_63\" style=\"word-spacing:-0.0243em;\">April 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0609em;top:17.5289em;\"><span class=\"stl_277 stl_15 stl_204\" style=\"word-spacing:-0.0215em;\">Interim Report Q2 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5096em;top:17.5289em;\"><span class=\"stl_277 stl_15 stl_64\" style=\"word-spacing:-0.0221em;\">Interim Report Q3 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9584em;top:17.5289em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Annual Report 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4071em;top:17.5289em;\"><span class=\"stl_277 stl_15 stl_34\" style=\"word-spacing:-0.0204em;\">Interim Report Q1 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0609em;top:18.362em;\"><span class=\"stl_277 stl_15 stl_315\" style=\"word-spacing:-0.0193em;\">Interim Report Q2 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5096em;top:18.362em;\"><span class=\"stl_277 stl_15 stl_29\" style=\"word-spacing:-0.02em;\">Interim Report Q3 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9584em;top:18.362em;\"><span class=\"stl_277 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Annual Report 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4071em;top:18.362em;\"><span class=\"stl_277 stl_15 stl_313\" style=\"word-spacing:-0.0207em;\">Interim Report Q1 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7115em;top:19.3839em;\"><span class=\"stl_277 stl_15 stl_219\" style=\"word-spacing:-0.0154em;\">November 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0602em;top:19.3839em;\"><span class=\"stl_277 stl_15 stl_192\" style=\"word-spacing:-0.0257em;\">Annual Report 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.509em;top:19.3839em;\"><span class=\"stl_277 stl_15 stl_140\" style=\"word-spacing:-0.0224em;\">Interim Report Q1 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9577em;top:19.3839em;\"><span class=\"stl_277 stl_15 stl_204\" style=\"word-spacing:-0.0215em;\">Interim Report Q2 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4065em;top:19.3839em;\"><span class=\"stl_277 stl_15 stl_64\" style=\"word-spacing:-0.0221em;\">Interim Report Q3 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0602em;top:20.217em;\"><span class=\"stl_277 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">Annual Report 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.509em;top:20.217em;\"><span class=\"stl_277 stl_15 stl_279\" style=\"word-spacing:-0.0203em;\">Interim Report Q1 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9577em;top:20.217em;\"><span class=\"stl_277 stl_15 stl_315\" style=\"word-spacing:-0.0193em;\">Interim Report Q2 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4065em;top:20.217em;\"><span class=\"stl_277 stl_15 stl_29\" style=\"word-spacing:-0.02em;\">Interim Report Q3 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7109em;top:21.2389em;\"><span class=\"stl_277 stl_15 stl_178\" style=\"word-spacing:-0.0176em;\">November 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0596em;top:21.2389em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">Annual Report 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5084em;top:21.2389em;\"><span class=\"stl_277 stl_15 stl_191\" style=\"word-spacing:-0.0187em;\">Interim Report Q1 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9571em;top:21.2389em;\"><span class=\"stl_277 stl_15 stl_292\" style=\"word-spacing:-0.0177em;\">Interim Report Q2 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4059em;top:21.2389em;\"><span class=\"stl_277 stl_15 stl_36\" style=\"word-spacing:-0.0184em;\">Interim Report Q3 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:16.0596em;top:22.072em;\"><span class=\"stl_277 stl_15 stl_192\" style=\"word-spacing:-0.0257em;\">Annual Report 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:25.5084em;top:22.072em;\"><span class=\"stl_277 stl_15 stl_140\" style=\"word-spacing:-0.0224em;\">Interim Report Q1 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.9571em;top:22.072em;\"><span class=\"stl_277 stl_15 stl_204\" style=\"word-spacing:-0.0215em;\">Interim Report Q2 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4059em;top:22.072em;\"><span class=\"stl_277 stl_15 stl_64\" style=\"word-spacing:-0.0221em;\">Interim Report Q3 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.2133em;\"><span class=\"stl_352 stl_12 stl_146\" style=\"word-spacing:-0.0309em;\">Phantom shares \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:11.052em;\"><span class=\"stl_353 stl_15 stl_35\" 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:11.8852em;\"><span class=\"stl_353 stl_15 stl_274\" 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:12.7183em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">except for management and other employees receiving \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:13.5514em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0292em;\">warrants. The employees received up to five phantom \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.3845em;\"><span class=\"stl_353 stl_15 stl_285\" 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:15.2177em;\"><span class=\"stl_353 stl_15 stl_278\" 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:16.0508em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">who was a full-time employee during the entire term \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.8839em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">of the plan was eligible to receive a maximum of 180 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.717em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">phantom shares. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:19.3839em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">On expiry of the program, the employees could exer- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.217em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">cise the phantom shares granted to them and thus \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.0502em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0293em;\">be entitled to a cash bonus calculated on the basis of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.8833em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.027em;\">the increase in the price of the Company\u00b4s shares. The \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:22.7164em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0265em;\">exercise was conditional on the price of the Company\u00b4s \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:23.5495em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">shares being at least DKK 5 higher than the exercise \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:24.3827em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0248em;\">price at the time of exercise. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.0495em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">The program expired in January 2024 with no exercise \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:26.8827em;\"><span class=\"stl_353 stl_15 stl_61\" style=\"word-spacing:-0.024em;\">as the program was out-of-money. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_222\" style=\"word-spacing:-0.0135em;\">2021-2023 phantom share program \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:11.6689em;\"><span class=\"stl_277 stl_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:40.645em;top:11.6633em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.4225em;top:11.6633em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.2em;top:11.6633em;\"><span class=\"stl_269 stl_12 stl_361\">2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.9969em;top:11.6633em;\"><span class=\"stl_269 stl_12 stl_368\">2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:13.3533em;\"><span class=\"stl_277 stl_15 stl_13\" style=\"word-spacing:-0.0393em;\">Outstanding as of January 1 \u00a0</span></div><div class=\"stl_01\" style=\"left:40.02em;top:13.3533em;\"><span class=\"stl_277 stl_15 stl_646\">113,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.1319em;top:13.3533em;\"><span class=\"stl_277 stl_15 stl_762\">79,132 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.8369em;top:13.3533em;\"><span class=\"stl_277 stl_15 stl_469\">37,996 \u00a0</span></div><div class=\"stl_01\" style=\"left:53.1706em;top:13.3533em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:14.3752em;\"><span class=\"stl_277 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">Granted during the year \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8325em;top:14.3752em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:44.0281em;top:14.3752em;\"><span class=\"stl_277 stl_15 stl_163\">33,993 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.8888em;top:14.3752em;\"><span class=\"stl_277 stl_15 stl_428\">41,136 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.6169em;top:14.3752em;\"><span class=\"stl_277 stl_15 stl_469\">37,996 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:15.397em;\"><span class=\"stl_277 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">Expired during the year \u00a0</span></div><div class=\"stl_01\" style=\"left:39.8294em;top:15.397em;\"><span class=\"stl_277 stl_15 stl_665\">(113,125) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6119em;top:15.397em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:49.3913em;top:15.397em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:53.1706em;top:15.397em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:21.7219em;top:16.4133em;\"><span class=\"stl_269 stl_12 stl_287\" style=\"word-spacing:-0.0331em;\">Outstanding phantom shares as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.825em;top:16.4133em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:43.6287em;top:16.4133em;\"><span class=\"stl_269 stl_12 stl_720\">113,125 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.7637em;top:16.4133em;\"><span class=\"stl_269 stl_12 stl_763\">79,132 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.4744em;top:16.4133em;\"><span class=\"stl_269 stl_12 stl_201\">37,996 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7225em;top:18.0389em;\"><span class=\"stl_269 stl_12 stl_378\" style=\"word-spacing:-0.0356em;\">Liability in DKK thousand as of December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:41.8256em;top:18.0389em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:45.605em;top:18.0389em;\"><span class=\"stl_269 stl_12 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.0256em;top:18.0389em;\"><span class=\"stl_269 stl_12 stl_130\">3,732 \u00a0</span></div><div class=\"stl_01\" style=\"left:51.7744em;top:18.0389em;\"><span class=\"stl_269 stl_12 stl_226\">3,589 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7225em;top:19.6645em;\"><span class=\"stl_269 stl_12 stl_24\" style=\"word-spacing:-0.0332em;\">Specification of parameters for Black-Scholes model \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7225em;top:20.692em;\"><span class=\"stl_277 stl_15 stl_61\" style=\"word-spacing:-0.024em;\">Share price December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:44.8438em;top:20.692em;\"><span class=\"stl_277 stl_15 stl_131\">177 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.6419em;top:20.692em;\"><span class=\"stl_277 stl_15 stl_397\">213 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.41em;top:20.692em;\"><span class=\"stl_277 stl_15 stl_300\">269 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7225em;top:21.7139em;\"><span class=\"stl_277 stl_15 stl_62\" style=\"word-spacing:-0.023em;\">Average share exercise price \u00a0</span></div><div class=\"stl_01\" style=\"left:44.8431em;top:21.7139em;\"><span class=\"stl_277 stl_15 stl_161\">203 \u00a0</span></div><div class=\"stl_01\" style=\"left:48.6225em;top:21.7139em;\"><span class=\"stl_277 stl_15 stl_161\">203 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.4019em;top:21.7139em;\"><span class=\"stl_277 stl_15 stl_161\">203 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7225em;top:22.7358em;\"><span class=\"stl_277 stl_15 stl_165\" style=\"word-spacing:-0.0342em;\">Expected volatility rate \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6125em;top:22.7358em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.42em;top:22.7358em;\"><span class=\"stl_277 stl_15 stl_477\">47% \u00a0</span></div><div class=\"stl_01\" style=\"left:52.1925em;top:22.7358em;\"><span class=\"stl_277 stl_15 stl_57\">42% \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7225em;top:23.7577em;\"><span class=\"stl_277 stl_15 stl_189\" style=\"word-spacing:-0.025em;\">Expected life (years) \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6125em;top:23.7577em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:48.8169em;top:23.7577em;\"><span class=\"stl_277 stl_15 stl_356\">1.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:52.575em;top:23.7577em;\"><span class=\"stl_277 stl_15 stl_156\">2.0 \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7225em;top:24.7795em;\"><span class=\"stl_277 stl_15 stl_458\" style=\"word-spacing:-0.0366em;\">Expected dividend per share \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6125em;top:24.7795em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:49.3919em;top:24.7795em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:53.1713em;top:24.7795em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:21.7225em;top:25.8014em;\"><span class=\"stl_277 stl_15 stl_45\" style=\"word-spacing:-0.0179em;\">Risk-free interest rate p.a. \u00a0</span></div><div class=\"stl_01\" style=\"left:45.6125em;top:25.8014em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.9312em;top:25.8014em;\"><span class=\"stl_277 stl_15 stl_303\">3.46% \u00a0</span></div><div class=\"stl_01\" style=\"left:51.82em;top:25.8014em;\"><span class=\"stl_277 stl_15 stl_764\">0.11% \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7231em;top:27.6427em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">The expected volatility is based on the volatility for a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7231em;top:28.4758em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">peer group. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7231em;top:30.1427em;\"><span class=\"stl_353 stl_15 stl_47\" style=\"word-spacing:-0.0275em;\">Recognized costs in 2024 DKK 0 million compared to a \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7231em;top:30.9758em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">net income of DKK 3.2 million in 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:10.2108em;\"><span class=\"stl_352 stl_12 stl_473\" style=\"word-spacing:-0.0354em;\">Restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:11.0495em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0277em;\">In March 2024, the Board of Directors decided to post- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:11.8827em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">pone the payment of half of the achieved cash bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:12.7158em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">for members of the Executive Management for 3 years, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:13.5489em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">converting the postponed bonus of DKK 9.5 million into \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:14.382em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">58,034 unconditional restricted stock units using the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:15.2152em;\"><span class=\"stl_353 stl_15 stl_61\" style=\"word-spacing:-0.0239em;\">share price of the Company at grant date (DKK 163). The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:16.0483em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">Board of Directors decided to grant additional restricted \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:16.8814em;\"><span class=\"stl_353 stl_15 stl_30\" 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:55.7494em;top:17.7145em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0275em;\">(so-called \"matching shares\") upon the recipient still \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:18.5477em;\"><span class=\"stl_353 stl_15 stl_42\" style=\"word-spacing:-0.0235em;\">being employed in March 2027. One matching share is \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:19.3808em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0305em;\">granted for each two acquired restricted stock units. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:20.2139em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0263em;\">The maximum number of matching shares is 29,015. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:21.047em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">The initial granted restricted stock units and the poten- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:21.8802em;\"><span class=\"stl_353 stl_15 stl_34\" style=\"word-spacing:-0.0203em;\">tial matching shares total 87,049 shares. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:23.547em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">At the annual general meeting in April 2024, the Board \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:24.3802em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0281em;\">of Directors were granted a total of 13,637 uncondi- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:25.2133em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">tional restricted stock units corresponding to 50% of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:26.0464em;\"><span class=\"stl_353 stl_15 stl_48\" 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:55.7494em;top:26.8795em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">fee). The restricted stock units will be delivered after 3 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:27.7127em;z-index:2774;\"><span class=\"stl_353 stl_15 stl_451\" style=\"word-spacing:-0.0091em;\">years in May 2027. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:29.3795em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">In May 2024, the Company bought back 162,288 of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:30.2127em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">its own shares to meet the obligation to deliver up \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:31.0458em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">to 162,288 shares to the members of the Executive \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7494em;top:31.8789em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">Management and the Board of Directors in March 2028. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_95\" style=\"word-spacing:-0.0379em;\">Outstanding restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2646em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:39.8877em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_271\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:25.0059em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_271\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2259em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_287\">Granted \u00a0</span></div><div class=\"stl_01\" style=\"left:35.8565em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_283\">Released \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0771em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:44.332em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_51\" 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_269 stl_12 stl_540\" 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_269 stl_12 stl_83\" style=\"word-spacing:-0.037em;\">during the year</span></div><div class=\"stl_01\" style=\"left:29.062em;top:12.9733em;\"><span class=\"stl_269 stl_12 stl_83\" 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_269 stl_12 stl_44\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.3034em;top:12.9733em;\"><span class=\"stl_269 stl_12 stl_183\" style=\"word-spacing:-0.0291em;\">date (DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:49.7571em;top:12.9733em;\"><span class=\"stl_269 stl_12 stl_35\" style=\"word-spacing:-0.0271em;\">Vesting date \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.6577em;\"><span class=\"stl_269 stl_12 stl_289\" 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_15 stl_47\" style=\"word-spacing:-0.0275em;\">Performance restricted stock units 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3571em;top:15.6852em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.714em;top:15.6852em;\"><span class=\"stl_277 stl_15 stl_383\">46,700 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2784em;top:15.6852em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6352em;top:15.6852em;\"><span class=\"stl_277 stl_15 stl_383\">46,700 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4434em;top:15.6852em;\"><span class=\"stl_277 stl_15 stl_367\">194 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7227em;top:15.6852em;\"><span class=\"stl_277 stl_15 stl_484\" style=\"word-spacing:-0.0007em;\">Mar. 2028 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7134em;top:16.707em;\"><span class=\"stl_277 stl_15 stl_180\" style=\"word-spacing:-0.0238em;\">Conversion of cash bonus for 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3565em;top:16.707em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.7127em;top:16.707em;\"><span class=\"stl_277 stl_15 stl_545\">58,034 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2777em;top:16.707em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.634em;top:16.707em;\"><span class=\"stl_277 stl_15 stl_545\">58,034 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4409em;top:16.707em;\"><span class=\"stl_277 stl_15 stl_364\">163 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7271em;top:16.707em;\"><span class=\"stl_277 stl_15 stl_321\" style=\"word-spacing:0.0013em;\">Mar. 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.7289em;\"><span class=\"stl_277 stl_15 stl_179\" style=\"word-spacing:-0.0245em;\">Matching shares - bonus 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3571em;top:17.7289em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.7827em;top:17.7289em;\"><span class=\"stl_277 stl_15 stl_686\">29,015 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2784em;top:17.7289em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.704em;top:17.7289em;\"><span class=\"stl_277 stl_15 stl_686\">29,015 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4415em;top:17.7289em;\"><span class=\"stl_277 stl_15 stl_364\">163 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7277em;top:17.7289em;\"><span class=\"stl_277 stl_15 stl_321\" style=\"word-spacing:0.0013em;\">Mar. 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:18.7508em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0295em;\">Performance restricted stock units 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7977em;top:18.7508em;\"><span class=\"stl_277 stl_15 stl_201\">61,602 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3184em;top:18.7508em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.279em;top:18.7508em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6796em;top:18.7508em;\"><span class=\"stl_277 stl_15 stl_201\">61,602 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4452em;top:18.7508em;\"><span class=\"stl_277 stl_15 stl_335\">167 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7277em;top:18.7508em;\"><span class=\"stl_277 stl_15 stl_321\" style=\"word-spacing:0.0013em;\">Mar. 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:19.7727em;\"><span class=\"stl_277 stl_15 stl_63\" style=\"word-spacing:-0.0242em;\">Conversion of cash bonus for 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7409em;top:19.7727em;\"><span class=\"stl_277 stl_15 stl_539\">22,429 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3184em;top:19.7727em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.279em;top:19.7727em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6227em;top:19.7727em;\"><span class=\"stl_277 stl_15 stl_539\">22,429 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4177em;top:19.7727em;\"><span class=\"stl_277 stl_15 stl_49\">227 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7296em;top:19.7727em;\"><span class=\"stl_277 stl_15 stl_101\" style=\"word-spacing:0.002em;\">Mar. 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:20.7945em;\"><span class=\"stl_277 stl_15 stl_189\" style=\"word-spacing:-0.0249em;\">Matching shares - bonus 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8265em;top:20.7945em;\"><span class=\"stl_277 stl_15 stl_356\">11,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3184em;top:20.7945em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.279em;top:20.7945em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.7084em;top:20.7945em;\"><span class=\"stl_277 stl_15 stl_356\">11,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4177em;top:20.7945em;\"><span class=\"stl_277 stl_15 stl_49\">227 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7296em;top:20.7945em;\"><span class=\"stl_277 stl_15 stl_101\" style=\"word-spacing:0.002em;\">Mar. 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:21.8164em;\"><span class=\"stl_277 stl_15 stl_188\" style=\"word-spacing:-0.0217em;\">Conversion of cash bonus for 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.744em;top:21.8164em;\"><span class=\"stl_277 stl_15 stl_537\">22,578 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3184em;top:21.8164em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.279em;top:21.8164em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6259em;top:21.8164em;\"><span class=\"stl_277 stl_15 stl_537\">22,578 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4421em;top:21.8164em;\"><span class=\"stl_277 stl_15 stl_364\">163 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.719em;top:21.8164em;\"><span class=\"stl_277 stl_15 stl_547\" style=\"word-spacing:-0.0033em;\">Mar. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:22.8383em;\"><span class=\"stl_277 stl_15 stl_64\" style=\"word-spacing:-0.0221em;\">Matching shares - bonus 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7877em;top:22.8383em;\"><span class=\"stl_277 stl_15 stl_110\">11,288 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3196em;top:22.8383em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2802em;top:22.8383em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6702em;top:22.8383em;\"><span class=\"stl_277 stl_15 stl_110\">11,288 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4434em;top:22.8383em;\"><span class=\"stl_277 stl_15 stl_364\">163 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7202em;top:22.8383em;\"><span class=\"stl_277 stl_15 stl_547\" style=\"word-spacing:-0.0033em;\">Mar. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7165em;top:23.8602em;\"><span class=\"stl_277 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">CEO retention plan \u00a0</span></div><div class=\"stl_01\" style=\"left:26.889em;top:23.8602em;\"><span class=\"stl_277 stl_15 stl_765\">17,109 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3202em;top:23.8602em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2809em;top:23.8602em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.7709em;top:23.8602em;\"><span class=\"stl_277 stl_15 stl_765\">17,109 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4384em;top:23.8602em;\"><span class=\"stl_277 stl_15 stl_123\">156 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7646em;top:23.8602em;\"><span class=\"stl_277 stl_15 stl_214\" style=\"word-spacing:-0.0076em;\">May 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7165em;top:24.882em;\"><span class=\"stl_277 stl_15 stl_192\" style=\"word-spacing:-0.0257em;\">Matching shares - CEO retention plan \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0821em;top:24.882em;\"><span class=\"stl_277 stl_15 stl_536\">8,554 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3202em;top:24.882em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2809em;top:24.882em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.964em;top:24.882em;\"><span class=\"stl_277 stl_15 stl_416\">8,554 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4377em;top:24.882em;\"><span class=\"stl_277 stl_15 stl_123\">156 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.764em;top:24.882em;\"><span class=\"stl_277 stl_15 stl_214\" style=\"word-spacing:-0.0076em;\">May 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:25.9039em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Sign-on bonus COO \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0646em;top:25.9039em;\"><span class=\"stl_277 stl_15 stl_297\">4,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3202em;top:25.9039em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2809em;top:25.9039em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.9465em;top:25.9039em;\"><span class=\"stl_277 stl_15 stl_140\">4,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4446em;top:25.9039em;\"><span class=\"stl_277 stl_15 stl_419\">165 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7646em;top:25.9039em;\"><span class=\"stl_277 stl_15 stl_214\" style=\"word-spacing:-0.0076em;\">May 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7165em;top:26.9258em;\"><span class=\"stl_277 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">Matching shares - sign-on COO \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0659em;top:26.9258em;\"><span class=\"stl_277 stl_15 stl_79\">2,223 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3202em;top:26.9258em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2809em;top:26.9258em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.9477em;top:26.9258em;\"><span class=\"stl_277 stl_15 stl_204\">2,223 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4452em;top:26.9258em;\"><span class=\"stl_277 stl_15 stl_419\">165 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7652em;top:26.9258em;\"><span class=\"stl_277 stl_15 stl_214\" style=\"word-spacing:-0.0076em;\">May 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7171em;top:27.9477em;\"><span class=\"stl_277 stl_15 stl_60\" style=\"word-spacing:-0.0227em;\">Conversion of cash bonus for 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8115em;top:27.9477em;\"><span class=\"stl_277 stl_15 stl_672\">16,413 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3209em;top:27.9477em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.5602em;top:27.9477em;\"><span class=\"stl_277 stl_15 stl_740\">(16,413) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2421em;top:27.9477em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.4071em;top:27.9477em;\"><span class=\"stl_277 stl_15 stl_21\">222 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.739em;top:27.9477em;\"><span class=\"stl_277 stl_15 stl_59\" style=\"word-spacing:0.006em;\">Mar. 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7165em;top:28.9695em;\"><span class=\"stl_277 stl_15 stl_182\" style=\"word-spacing:-0.0233em;\">Matching shares - bonus 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0877em;top:28.9695em;\"><span class=\"stl_277 stl_15 stl_562\">8,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3202em;top:28.9695em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.8015em;top:28.9695em;\"><span class=\"stl_277 stl_15 stl_202\">(8,207) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2415em;top:28.9695em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.4065em;top:28.9695em;\"><span class=\"stl_277 stl_15 stl_21\">222 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7383em;top:28.9695em;\"><span class=\"stl_277 stl_15 stl_59\" style=\"word-spacing:0.006em;\">Mar. 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7158em;top:29.9858em;\"><span class=\"stl_269 stl_12 stl_289\" style=\"word-spacing:-0.0346em;\">Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:26.2702em;top:29.9858em;\"><span class=\"stl_269 stl_12 stl_58\">186,062 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.3065em;top:29.9858em;\"><span class=\"stl_269 stl_12 stl_598\">133,749 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.319em;top:29.9858em;\"><span class=\"stl_269 stl_12 stl_267\">(24,620) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.2221em;top:29.9858em;\"><span class=\"stl_269 stl_12 stl_327\">295,191 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7158em;top:31.6114em;\"><span class=\"stl_269 stl_12 stl_25\" style=\"word-spacing:-0.0311em;\">Board of Directors: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7158em;top:32.6389em;\"><span class=\"stl_277 stl_15 stl_58\" style=\"word-spacing:-0.002em;\">Fee 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.359em;top:32.6389em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.7521em;top:32.6389em;\"><span class=\"stl_277 stl_15 stl_158\">13,637 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2802em;top:32.6389em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6733em;top:32.6389em;\"><span class=\"stl_277 stl_15 stl_158\">13,637 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4446em;top:32.6389em;\"><span class=\"stl_277 stl_15 stl_367\">152 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7727em;top:32.6389em;\"><span class=\"stl_277 stl_15 stl_58\" style=\"word-spacing:-0.002em;\">May 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:33.6608em;\"><span class=\"stl_277 stl_15 stl_226\" style=\"word-spacing:-0.014em;\">Fee 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7596em;top:33.6608em;\"><span class=\"stl_277 stl_15 stl_58\">10,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.319em;top:33.6608em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2796em;top:33.6608em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6415em;top:33.6608em;\"><span class=\"stl_277 stl_15 stl_58\">10,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4446em;top:33.6608em;\"><span class=\"stl_277 stl_15 stl_367\">194 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.774em;top:33.6608em;\"><span class=\"stl_277 stl_15 stl_296\" style=\"word-spacing:-0.0012em;\">May 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:34.6827em;\"><span class=\"stl_277 stl_15 stl_336\" style=\"word-spacing:-0.0156em;\">Fee 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7946em;top:34.6827em;\"><span class=\"stl_277 stl_15 stl_581\">11,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.319em;top:34.6827em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2796em;top:34.6827em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6765em;top:34.6827em;\"><span class=\"stl_277 stl_15 stl_581\">11,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4459em;top:34.6827em;\"><span class=\"stl_277 stl_15 stl_335\">153 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7634em;top:34.6827em;\"><span class=\"stl_277 stl_15 stl_214\" style=\"word-spacing:-0.0076em;\">May 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:35.7045em;\"><span class=\"stl_277 stl_15 stl_351\" style=\"word-spacing:-0.0048em;\">Fee 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.2127em;top:35.7045em;\"><span class=\"stl_277 stl_15 stl_405\">7,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.319em;top:35.7045em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.9071em;top:35.7045em;\"><span class=\"stl_277 stl_15 stl_734\">(7,127) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2402em;top:35.7045em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.4171em;top:35.7045em;\"><span class=\"stl_277 stl_15 stl_226\">273 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8346em;top:35.7045em;\"><span class=\"stl_277 stl_15 stl_307\" style=\"word-spacing:0.0033em;\">Apr. 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:36.7208em;\"><span class=\"stl_269 stl_12 stl_30\" style=\"word-spacing:-0.0323em;\">Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6371em;top:36.7208em;\"><span class=\"stl_269 stl_12 stl_461\">29,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.6052em;top:36.7208em;\"><span class=\"stl_269 stl_12 stl_38\">13,637 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.7521em;top:36.7208em;\"><span class=\"stl_269 stl_12 stl_722\">(7,127) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5502em;top:36.7208em;\"><span class=\"stl_269 stl_12 stl_117\">35,744 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:37.7427em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:26.289em;top:37.7427em;\"><span class=\"stl_269 stl_12 stl_161\">215,296 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2759em;top:37.7427em;\"><span class=\"stl_269 stl_12 stl_688\">147,386 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3759em;top:37.7427em;\"><span class=\"stl_269 stl_12 stl_235\">(31,747) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.184em;top:37.7427em;\"><span class=\"stl_269 stl_12 stl_149\">330,935 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:10.2139em;\"><span class=\"stl_353 stl_15 stl_288\" 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:55.7496em;top:11.047em;\"><span class=\"stl_353 stl_15 stl_48\" style=\"word-spacing:-0.0261em;\">utive Management related to conversion of cash bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:11.8802em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0271em;\">(58,034 shares) had no impact on the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:12.7133em;\"><span class=\"stl_353 stl_15 stl_44\" style=\"word-spacing:-0.0259em;\">for 2024, as the corresponding cash bonus (DKK 9.5 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:13.5464em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">million) was accrued in 2023, though the amount has \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:14.3795em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">been reclassified from \"Salary and wages\" to \"Share- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:15.2127em;\"><span class=\"stl_353 stl_15 stl_179\" style=\"word-spacing:-0.0245em;\">based payment\" in the staff cost note (note 8). The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:16.0458em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">obligation related to the matching shares amount to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:16.8789em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">DKK 4.7 million measured at the same fair value as the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:17.712em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0283em;\">initial restricted stock units (DKK 163). The obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:18.5452em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">will be expensed over the three-year vesting period. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:20.212em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0326em;\">The grant of performance restricted stock units to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:21.0452em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0247em;\">the Executive Management (46,700 shares) will be \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:21.8783em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.0311em;\">expensed over the three-year vesting period. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:23.5452em;\"><span class=\"stl_353 stl_15 stl_182\" style=\"word-spacing:-0.0231em;\">During 2024, DKK 19.6 million (DKK 8.6 million) has \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:24.3783em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">been expensed and recognized as share-based \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:25.2114em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">payment related to Executive Management. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:26.8783em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">The grant of restricted stock units to the Board of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:27.7114em;\"><span class=\"stl_353 stl_15 stl_61\" style=\"word-spacing:-0.024em;\">Directors (13,637 shares - DKK 2.1 million) were fully \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:28.5445em;\"><span class=\"stl_353 stl_15 stl_392\" 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_269 stl_12 stl_95\" 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_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:39.8877em;top:11.4733em;\"><span class=\"stl_269 stl_12 stl_271\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:25.0059em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_271\">Outstanding \u00a0</span></div><div class=\"stl_01\" style=\"left:31.2259em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_287\">Granted \u00a0</span></div><div class=\"stl_01\" style=\"left:35.8565em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_283\">Released \u00a0</span></div><div class=\"stl_01\" style=\"left:42.0771em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_181\" style=\"word-spacing:-0.027em;\">as of</span></div><div class=\"stl_01\" style=\"left:44.332em;top:12.2233em;\"><span class=\"stl_269 stl_12 stl_51\" 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_269 stl_12 stl_540\" 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_269 stl_12 stl_83\" style=\"word-spacing:-0.037em;\">during the year</span></div><div class=\"stl_01\" style=\"left:29.062em;top:12.9733em;\"><span class=\"stl_269 stl_12 stl_83\" 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_269 stl_12 stl_44\" style=\"word-spacing:-0.0258em;\">December 31 \u00a0</span></div><div class=\"stl_01\" style=\"left:45.3034em;top:12.9733em;\"><span class=\"stl_269 stl_12 stl_183\" style=\"word-spacing:-0.0291em;\">date (DKK) \u00a0</span></div><div class=\"stl_01\" style=\"left:49.7571em;top:12.9733em;\"><span class=\"stl_269 stl_12 stl_35\" style=\"word-spacing:-0.0271em;\">Vesting date \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:14.6345em;\"><span class=\"stl_269 stl_12 stl_289\" style=\"word-spacing:-0.0347em;\">Executive Management: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:15.6152em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0295em;\">Performance restricted stock units 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3571em;top:15.6152em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.7578em;top:15.6152em;\"><span class=\"stl_277 stl_15 stl_201\">61,602 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2784em;top:15.6152em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.679em;top:15.6152em;\"><span class=\"stl_277 stl_15 stl_201\">61,602 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4446em;top:15.6152em;\"><span class=\"stl_277 stl_15 stl_335\">167 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7271em;top:15.6152em;\"><span class=\"stl_277 stl_15 stl_321\" style=\"word-spacing:0.0013em;\">Mar. 2027 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:16.5902em;\"><span class=\"stl_277 stl_15 stl_63\" style=\"word-spacing:-0.0242em;\">Conversion of cash bonus for 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3571em;top:16.5902em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.7009em;top:16.5902em;\"><span class=\"stl_277 stl_15 stl_539\">22,429 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2784em;top:16.5902em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6221em;top:16.5902em;\"><span class=\"stl_277 stl_15 stl_539\">22,429 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4171em;top:16.5902em;\"><span class=\"stl_277 stl_15 stl_49\">227 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.729em;top:16.5902em;\"><span class=\"stl_277 stl_15 stl_101\" style=\"word-spacing:0.002em;\">Mar. 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.5652em;\"><span class=\"stl_277 stl_15 stl_189\" style=\"word-spacing:-0.0249em;\">Matching shares - bonus 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3571em;top:17.5652em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.7865em;top:17.5652em;\"><span class=\"stl_277 stl_15 stl_356\">11,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.2784em;top:17.5652em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.7077em;top:17.5652em;\"><span class=\"stl_277 stl_15 stl_356\">11,213 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4171em;top:17.5652em;\"><span class=\"stl_277 stl_15 stl_49\">227 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.729em;top:17.5652em;\"><span class=\"stl_277 stl_15 stl_101\" style=\"word-spacing:0.002em;\">Mar. 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.5402em;\"><span class=\"stl_277 stl_15 stl_188\" style=\"word-spacing:-0.0217em;\">Conversion of cash bonus for 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7434em;top:18.5402em;\"><span class=\"stl_277 stl_15 stl_537\">22,578 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3178em;top:18.5402em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2784em;top:18.5402em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6252em;top:18.5402em;\"><span class=\"stl_277 stl_15 stl_537\">22,578 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4415em;top:18.5402em;\"><span class=\"stl_277 stl_15 stl_364\">163 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7184em;top:18.5402em;\"><span class=\"stl_277 stl_15 stl_547\" style=\"word-spacing:-0.0033em;\">Mar. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:19.5152em;\"><span class=\"stl_277 stl_15 stl_64\" style=\"word-spacing:-0.0221em;\">Matching shares - bonus 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.7871em;top:19.5152em;\"><span class=\"stl_277 stl_15 stl_110\">11,288 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.319em;top:19.5152em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2796em;top:19.5152em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6696em;top:19.5152em;\"><span class=\"stl_277 stl_15 stl_110\">11,288 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4428em;top:19.5152em;\"><span class=\"stl_277 stl_15 stl_364\">163 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7196em;top:19.5152em;\"><span class=\"stl_277 stl_15 stl_547\" style=\"word-spacing:-0.0033em;\">Mar. 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:20.4902em;\"><span class=\"stl_277 stl_15 stl_75\" style=\"word-spacing:-0.0266em;\">CEO retention plan \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8884em;top:20.4902em;\"><span class=\"stl_277 stl_15 stl_765\">17,109 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3196em;top:20.4902em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2802em;top:20.4902em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.7702em;top:20.4902em;\"><span class=\"stl_277 stl_15 stl_765\">17,109 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4377em;top:20.4902em;\"><span class=\"stl_277 stl_15 stl_123\">156 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.764em;top:20.4902em;\"><span class=\"stl_277 stl_15 stl_214\" style=\"word-spacing:-0.0076em;\">May 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:21.4652em;\"><span class=\"stl_277 stl_15 stl_192\" style=\"word-spacing:-0.0257em;\">Matching shares - CEO retention plan \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0815em;top:21.4652em;\"><span class=\"stl_277 stl_15 stl_536\">8,554 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3196em;top:21.4652em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2802em;top:21.4652em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.9634em;top:21.4652em;\"><span class=\"stl_277 stl_15 stl_416\">8,554 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4371em;top:21.4652em;\"><span class=\"stl_277 stl_15 stl_123\">156 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7634em;top:21.4652em;\"><span class=\"stl_277 stl_15 stl_214\" style=\"word-spacing:-0.0076em;\">May 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:22.4402em;\"><span class=\"stl_277 stl_15 stl_433\" style=\"word-spacing:-0.0335em;\">Sign-on bonus COO \u00a0</span></div><div class=\"stl_01\" style=\"left:27.064em;top:22.4402em;\"><span class=\"stl_277 stl_15 stl_297\">4,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3196em;top:22.4402em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2802em;top:22.4402em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.9459em;top:22.4402em;\"><span class=\"stl_277 stl_15 stl_140\">4,446 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.444em;top:22.4402em;\"><span class=\"stl_277 stl_15 stl_419\">165 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.764em;top:22.4402em;\"><span class=\"stl_277 stl_15 stl_214\" style=\"word-spacing:-0.0076em;\">May 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:23.4152em;\"><span class=\"stl_277 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">Matching shares - sign-on COO \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0652em;top:23.4152em;\"><span class=\"stl_277 stl_15 stl_79\">2,223 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3196em;top:23.4152em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2802em;top:23.4152em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.9471em;top:23.4152em;\"><span class=\"stl_277 stl_15 stl_204\">2,223 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4446em;top:23.4152em;\"><span class=\"stl_277 stl_15 stl_419\">165 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7646em;top:23.4152em;\"><span class=\"stl_277 stl_15 stl_214\" style=\"word-spacing:-0.0076em;\">May 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7165em;top:24.3902em;\"><span class=\"stl_277 stl_15 stl_60\" style=\"word-spacing:-0.0227em;\">Conversion of cash bonus for 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8109em;top:24.3902em;\"><span class=\"stl_277 stl_15 stl_672\">16,413 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3202em;top:24.3902em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2809em;top:24.3902em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6927em;top:24.3902em;\"><span class=\"stl_277 stl_15 stl_672\">16,413 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4065em;top:24.3902em;\"><span class=\"stl_277 stl_15 stl_21\">222 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7384em;top:24.3902em;\"><span class=\"stl_277 stl_15 stl_59\" style=\"word-spacing:0.006em;\">Mar. 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7159em;top:25.3652em;\"><span class=\"stl_277 stl_15 stl_182\" style=\"word-spacing:-0.0233em;\">Matching shares - bonus 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0871em;top:25.3652em;\"><span class=\"stl_277 stl_15 stl_562\">8,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3196em;top:25.3652em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.2802em;top:25.3652em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.969em;top:25.3652em;\"><span class=\"stl_277 stl_15 stl_562\">8,207 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4059em;top:25.3652em;\"><span class=\"stl_277 stl_15 stl_21\">222 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7377em;top:25.3652em;\"><span class=\"stl_277 stl_15 stl_59\" style=\"word-spacing:0.006em;\">Mar. 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7152em;top:26.3402em;\"><span class=\"stl_277 stl_15 stl_34\" style=\"word-spacing:-0.0205em;\">Conversion of cash bonus for 2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.8059em;top:26.3402em;\"><span class=\"stl_277 stl_15 stl_467\">11,003 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.319em;top:26.3402em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.5546em;top:26.3402em;\"><span class=\"stl_277 stl_15 stl_766\">(11,003) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2402em;top:26.3402em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.4271em;top:26.3402em;\"><span class=\"stl_277 stl_15 stl_101\">240 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7177em;top:26.3402em;\"><span class=\"stl_277 stl_15 stl_57\" style=\"word-spacing:-0.004em;\">Mar. 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:27.3152em;\"><span class=\"stl_277 stl_15 stl_313\" style=\"word-spacing:-0.0206em;\">Matching shares - bonus 2019 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.0759em;top:27.3152em;\"><span class=\"stl_277 stl_15 stl_329\">5,500 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3184em;top:27.3152em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.8109em;top:27.3152em;\"><span class=\"stl_277 stl_15 stl_366\">(5,500) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2396em;top:27.3152em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.4265em;top:27.3152em;\"><span class=\"stl_277 stl_15 stl_101\">240 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7171em;top:27.3152em;\"><span class=\"stl_277 stl_15 stl_57\" style=\"word-spacing:-0.004em;\">Mar. 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:28.2902em;\"><span class=\"stl_277 stl_15 stl_89\" style=\"word-spacing:-0.0382em;\">Sign-on bonus CMO \u00a0</span></div><div class=\"stl_01\" style=\"left:27.099em;top:28.2902em;\"><span class=\"stl_277 stl_15 stl_461\">8,651 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3177em;top:28.2902em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.8484em;top:28.2902em;\"><span class=\"stl_277 stl_15 stl_620\">(8,651) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.239em;top:28.2902em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.4471em;top:28.2902em;\"><span class=\"stl_277 stl_15 stl_398\">149 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7609em;top:28.2902em;\"><span class=\"stl_277 stl_15 stl_416\" style=\"word-spacing:-0.0084em;\">May 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:29.2652em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">Matching shares - sign-on CMO \u00a0</span></div><div class=\"stl_01\" style=\"left:27.089em;top:29.2652em;\"><span class=\"stl_277 stl_15 stl_432\">4,325 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3184em;top:29.2652em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.824em;top:29.2652em;\"><span class=\"stl_277 stl_15 stl_38\">(4,325) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2396em;top:29.2652em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.4477em;top:29.2652em;\"><span class=\"stl_277 stl_15 stl_398\">149 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7615em;top:29.2652em;\"><span class=\"stl_277 stl_15 stl_416\" style=\"word-spacing:-0.0084em;\">May 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:30.2345em;\"><span class=\"stl_269 stl_12 stl_289\" style=\"word-spacing:-0.0346em;\">Executive Management \u00a0</span></div><div class=\"stl_01\" style=\"left:26.2796em;top:30.2345em;\"><span class=\"stl_269 stl_12 stl_229\">120,297 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5696em;top:30.2345em;\"><span class=\"stl_269 stl_12 stl_537\">95,244 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.3509em;top:30.2345em;\"><span class=\"stl_269 stl_12 stl_104\">(29,479) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.1509em;top:30.2345em;\"><span class=\"stl_269 stl_12 stl_58\">186,062 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:31.7658em;\"><span class=\"stl_269 stl_12 stl_25\" style=\"word-spacing:-0.0311em;\">Board of Directors: \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:32.7464em;\"><span class=\"stl_277 stl_15 stl_226\" style=\"word-spacing:-0.014em;\">Fee 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:28.3577em;top:32.7464em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:31.7196em;top:32.7464em;\"><span class=\"stl_277 stl_15 stl_58\">10,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.279em;top:32.7464em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6409em;top:32.7464em;\"><span class=\"stl_277 stl_15 stl_58\">10,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4452em;top:32.7464em;\"><span class=\"stl_277 stl_15 stl_335\">153 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7734em;top:32.7464em;\"><span class=\"stl_277 stl_15 stl_296\" style=\"word-spacing:-0.0012em;\">May 2026 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:33.7214em;\"><span class=\"stl_277 stl_15 stl_336\" style=\"word-spacing:-0.0156em;\">Fee 2022 \u00a0</span></div><div class=\"stl_01\" style=\"left:26.794em;top:33.7214em;\"><span class=\"stl_277 stl_15 stl_581\">11,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3184em;top:33.7214em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.279em;top:33.7214em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:41.6759em;top:33.7214em;\"><span class=\"stl_277 stl_15 stl_581\">11,467 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4452em;top:33.7214em;\"><span class=\"stl_277 stl_15 stl_335\">153 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.7627em;top:33.7214em;\"><span class=\"stl_277 stl_15 stl_214\" style=\"word-spacing:-0.0076em;\">May 2025 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:34.6964em;\"><span class=\"stl_277 stl_15 stl_351\" style=\"word-spacing:-0.0048em;\">Fee 2021 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.2121em;top:34.6964em;\"><span class=\"stl_277 stl_15 stl_405\">7,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3184em;top:34.6964em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:38.279em;top:34.6964em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:42.094em;top:34.6964em;\"><span class=\"stl_277 stl_15 stl_405\">7,127 \u00a0</span></div><div class=\"stl_01\" style=\"left:47.4165em;top:34.6964em;\"><span class=\"stl_277 stl_15 stl_226\">273 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.834em;top:34.6964em;\"><span class=\"stl_277 stl_15 stl_307\" style=\"word-spacing:0.0033em;\">Apr. 2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:35.6714em;\"><span class=\"stl_277 stl_15 stl_535\" style=\"word-spacing:-0.0092em;\">Fee 2020 \u00a0</span></div><div class=\"stl_01\" style=\"left:27.2515em;top:35.6714em;\"><span class=\"stl_277 stl_15 stl_767\">7,111 \u00a0</span></div><div class=\"stl_01\" style=\"left:33.3184em;top:35.6714em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:36.9815em;top:35.6714em;\"><span class=\"stl_277 stl_15 stl_768\">(7,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:43.2396em;top:35.6714em;\"><span class=\"stl_277 stl_15 stl_27\">-</span></div><div class=\"stl_01\" style=\"left:47.4321em;top:35.6714em;\"><span class=\"stl_277 stl_15 stl_38\">190 \u00a0</span></div><div class=\"stl_01\" style=\"left:50.8702em;top:35.6714em;\"><span class=\"stl_277 stl_15 stl_337\" style=\"word-spacing:-0.0197em;\">Jun. 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:36.6408em;\"><span class=\"stl_269 stl_12 stl_30\" style=\"word-spacing:-0.0323em;\">Board of Directors \u00a0</span></div><div class=\"stl_01\" style=\"left:26.6377em;top:36.6408em;\"><span class=\"stl_269 stl_12 stl_163\">25,705 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.5771em;top:36.6408em;\"><span class=\"stl_269 stl_12 stl_351\">10,640 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.8246em;top:36.6408em;\"><span class=\"stl_269 stl_12 stl_769\">(7,111) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.5177em;top:36.6408em;\"><span class=\"stl_269 stl_12 stl_461\">29,234 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:37.6158em;\"><span class=\"stl_269 stl_12 stl_226\">Total \u00a0</span></div><div class=\"stl_01\" style=\"left:26.2746em;top:37.6158em;\"><span class=\"stl_269 stl_12 stl_303\">146,002 \u00a0</span></div><div class=\"stl_01\" style=\"left:31.214em;top:37.6158em;\"><span class=\"stl_269 stl_12 stl_402\">105,884 \u00a0</span></div><div class=\"stl_01\" style=\"left:36.2996em;top:37.6158em;\"><span class=\"stl_269 stl_12 stl_429\">(36,590) \u00a0</span></div><div class=\"stl_01\" style=\"left:41.169em;top:37.6158em;\"><span class=\"stl_269 stl_12 stl_161\">215,296 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:10.2133em;\"><span class=\"stl_352 stl_12 stl_194\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">expensed in 2024 and 2023. The amounts reconcile to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:12.7183em;\"><span class=\"stl_353 stl_15 stl_189\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:31.1965em;top:14.9821em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.974em;top:14.9821em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7146em;top:16.6721em;\"><span class=\"stl_277 stl_15 stl_195\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:30.7784em;top:16.6721em;\"><span class=\"stl_277 stl_15 stl_546\">56,958 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.6177em;top:16.6721em;\"><span class=\"stl_277 stl_15 stl_435\">47,989 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:17.694em;\"><span class=\"stl_277 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">Restricted stock units \u00a0</span></div><div class=\"stl_01\" style=\"left:30.8315em;top:17.694em;\"><span class=\"stl_277 stl_15 stl_467\">21,707 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5884em;top:17.694em;\"><span class=\"stl_277 stl_15 stl_142\">10,653 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:18.7103em;\"><span class=\"stl_269 stl_12 stl_458\" style=\"word-spacing:-0.0366em;\">Share-based payment recognized directly in equity \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6346em;top:18.7103em;\"><span class=\"stl_269 stl_12 stl_220\">78,665 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4021em;top:18.7103em;\"><span class=\"stl_269 stl_12 stl_45\">58,642 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:20.3415em;\"><span class=\"stl_277 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">Phantom share program \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2684em;top:20.3415em;\"><span class=\"stl_277 stl_15 stl_27\">7</span></div><div class=\"stl_01\" style=\"left:34.7646em;top:20.3415em;\"><span class=\"stl_277 stl_15 stl_486\">(3,165) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:21.3634em;\"><span class=\"stl_277 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">Share-based payment recognized as a liability (change during the year) \u00a0</span></div><div class=\"stl_01\" style=\"left:32.2684em;top:21.3634em;\"><span class=\"stl_277 stl_15 stl_27\">7</span></div><div class=\"stl_01\" style=\"left:34.7646em;top:21.3634em;\"><span class=\"stl_277 stl_15 stl_486\">(3,165) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:22.9834em;\"><span class=\"stl_269 stl_12 stl_51\" style=\"word-spacing:-0.0321em;\">Total share-based payment expensed, cf. note 8 \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6384em;top:22.9834em;\"><span class=\"stl_269 stl_12 stl_207\">78,672 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4209em;top:22.9834em;\"><span class=\"stl_269 stl_12 stl_218\">55,477 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.714em;top:24.609em;\"><span class=\"stl_269 stl_12 stl_164\" style=\"word-spacing:-0.0363em;\">Non-cash adjustment in cash flow statement \u00a0</span></div><div class=\"stl_01\" style=\"left:30.6384em;top:24.609em;\"><span class=\"stl_269 stl_12 stl_207\">78,672 \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4209em;top:24.609em;\"><span class=\"stl_269 stl_12 stl_218\">55,477 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8977": {
   "value": "<div class=\"stl_01\" style=\"left:5.9962em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_68\" 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_353 stl_15 stl_28\" 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_353 stl_15 stl_24\" 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_353 stl_15 stl_69\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_16\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">Restricted stock units and performance restricted stock \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.7043em;\"><span class=\"stl_353 stl_15 stl_288\" 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:20.3712em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0315em;\">For Executive Management cash bonus converted to \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.2043em;\"><span class=\"stl_353 stl_15 stl_85\" 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:22.0374em;\"><span class=\"stl_353 stl_15 stl_193\" 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:22.8706em;\"><span class=\"stl_353 stl_15 stl_183\" 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:23.7037em;\"><span class=\"stl_353 stl_15 stl_25\" 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:24.5368em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0327em;\">and expensed in the income statement, the grant \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.3699em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">of restricted stock units has no additional impact on \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.2031em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">the income statement. The accrued liability for the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0362em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">converted cash bonus is reclassified to equity. Matching \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.8693em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0301em;\">shares are measured at the same fair value as the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.7024em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0317em;\">initial restricted stock units and expensed over the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.5356em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">three year vesting period. The balancing item is recog- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.3687em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">nized directly in equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.0356em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0331em;\">Performance restricted stock units granted to Execu- \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:32.8687em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0293em;\">tive Management as part of their long-term incentive \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.7018em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0289em;\">scheme are expensed over the three year vesting \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.5349em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">period with the balancing item recognized directly in \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.3681em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.027em;\">equity. Vesting is subject to achievement of certain Key \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:36.2012em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">Performance Indicators (\u201cKPIs\u201d) as determined by the \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:37.0343em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">Board of Directors. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.2012em;\"><span class=\"stl_353 stl_15 stl_165\" 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:12.0343em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">members of the Executive Management and restricted \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.8674em;\"><span class=\"stl_353 stl_15 stl_16\" 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:13.7006em;\"><span class=\"stl_353 stl_15 stl_193\" 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:14.5337em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">nized directly in equity. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:16.1949em;\"><span class=\"stl_352 stl_12 stl_287\" style=\"word-spacing:-0.033em;\">Incentive plans \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:17.0337em;\"><span class=\"stl_353 stl_15 stl_192\" 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:17.8668em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">encourage the achievement of common goals for \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:18.6999em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">employees, management and shareholders, the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:19.5331em;\"><span class=\"stl_353 stl_15 stl_37\" 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:20.3662em;\"><span class=\"stl_353 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">warrant programs and restricted stock units programs, \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:21.1993em;\"><span class=\"stl_353 stl_15 stl_287\" 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:22.0324em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0321em;\">ment and Board of Directors. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:23.6937em;\"><span class=\"stl_352 stl_12 stl_422\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5324em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0327em;\">The Board of Directors has been granting warrants to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3656em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">the Company\u00b4s management and selected employees \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.1987em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">of the Company and its subsidiaries. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8656em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">The warrants are granted in accordance with the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.6987em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">authorizations given to the Board of Directors by the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.5318em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">shareholders. The Board of Directors has fixed the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3649em;\"><span class=\"stl_353 stl_15 stl_283\" 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:21.7325em;top:31.1981em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">into account authorizations from the shareholders, the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.0312em;\"><span class=\"stl_353 stl_15 stl_53\" style=\"word-spacing:-0.0254em;\">Group's guidelines for incentive pay, an assessment of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.8643em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">expectations of the recipient\u00b4s work efforts and contri- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.6974em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">bution to the Group\u00b4s growth, as well as the need to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.5306em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">motivate and retain the recipient. Grant takes place on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:35.3637em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0289em;\">the date of establishment of the program. Exercise of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.1968em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">warrants is by default subject to continuing employ- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:37.0299em;\"><span class=\"stl_353 stl_15 stl_283\" 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:11.1968em;\"><span class=\"stl_353 stl_15 stl_16\" 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:12.0299em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">regarding termination of employees prior to their \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.8631em;\"><span class=\"stl_353 stl_15 stl_274\" 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:13.6962em;\"><span class=\"stl_353 stl_15 stl_94\" style=\"word-spacing:-0.0377em;\">subject to the act. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:15.3631em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">For warrants granted to Executive Management in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:16.1962em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">December 2022 and onwards, vesting is subject to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.0293em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">achievement of certain Key Performance Indicators \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.8624em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">(\u201cKPIs\u201d) as determined by the Board of Directors. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:18.6956em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.0349em;\">Number of granted warrants are adjusted on an annual \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:19.5287em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">basis based on performance. The recognized costs are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:20.3618em;\"><span class=\"stl_353 stl_15 stl_182\" style=\"word-spacing:-0.0232em;\">adjusted accordingly. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact8984": {
   "value": "<div class=\"stl_01\" style=\"left:21.7325em;top:23.6937em;\"><span class=\"stl_352 stl_12 stl_422\">Warrants \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:24.5324em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0327em;\">The Board of Directors has been granting warrants to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:25.3656em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0309em;\">the Company\u00b4s management and selected employees \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:26.1987em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">of the Company and its subsidiaries. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:27.8656em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">The warrants are granted in accordance with the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:28.6987em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">authorizations given to the Board of Directors by the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:29.5318em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">shareholders. The Board of Directors has fixed the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:30.3649em;\"><span class=\"stl_353 stl_15 stl_283\" 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:21.7325em;top:31.1981em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">into account authorizations from the shareholders, the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.0312em;\"><span class=\"stl_353 stl_15 stl_53\" style=\"word-spacing:-0.0254em;\">Group's guidelines for incentive pay, an assessment of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:32.8643em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">expectations of the recipient\u00b4s work efforts and contri- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:33.6974em;\"><span class=\"stl_353 stl_15 stl_28\" style=\"word-spacing:-0.0264em;\">bution to the Group\u00b4s growth, as well as the need to \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:34.5306em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">motivate and retain the recipient. Grant takes place on \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:35.3637em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0289em;\">the date of establishment of the program. Exercise of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:36.1968em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">warrants is by default subject to continuing employ- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:37.0299em;\"><span class=\"stl_353 stl_15 stl_283\" 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:11.1968em;\"><span class=\"stl_353 stl_15 stl_16\" 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:12.0299em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0286em;\">regarding termination of employees prior to their \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:12.8631em;\"><span class=\"stl_353 stl_15 stl_274\" 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:13.6962em;\"><span class=\"stl_353 stl_15 stl_94\" style=\"word-spacing:-0.0377em;\">subject to the act. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:15.3631em;\"><span class=\"stl_353 stl_15 stl_433\" style=\"word-spacing:-0.0336em;\">For warrants granted to Executive Management in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:16.1962em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">December 2022 and onwards, vesting is subject to \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.0293em;\"><span class=\"stl_353 stl_15 stl_183\" style=\"word-spacing:-0.0291em;\">achievement of certain Key Performance Indicators \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:17.8624em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0305em;\">(\u201cKPIs\u201d) as determined by the Board of Directors. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:18.6956em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.0349em;\">Number of granted warrants are adjusted on an annual \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:19.5287em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">basis based on performance. The recognized costs are \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7407em;top:20.3618em;\"><span class=\"stl_353 stl_15 stl_182\" style=\"word-spacing:-0.0232em;\">adjusted accordingly. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForWarrantsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact9010": {
   "value": "<div class=\"stl_01\" style=\"left:55.7496em;top:10.2139em;\"><span class=\"stl_353 stl_15 stl_288\" 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:55.7496em;top:11.047em;\"><span class=\"stl_353 stl_15 stl_48\" style=\"word-spacing:-0.0261em;\">utive Management related to conversion of cash bonus \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:11.8802em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0271em;\">(58,034 shares) had no impact on the income statement \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:12.7133em;\"><span class=\"stl_353 stl_15 stl_44\" style=\"word-spacing:-0.0259em;\">for 2024, as the corresponding cash bonus (DKK 9.5 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:13.5464em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">million) was accrued in 2023, though the amount has \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:14.3795em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0334em;\">been reclassified from \"Salary and wages\" to \"Share- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:15.2127em;\"><span class=\"stl_353 stl_15 stl_179\" style=\"word-spacing:-0.0245em;\">based payment\" in the staff cost note (note 8). The \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:16.0458em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">obligation related to the matching shares amount to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:16.8789em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0327em;\">DKK 4.7 million measured at the same fair value as the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:17.712em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0283em;\">initial restricted stock units (DKK 163). The obligation \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7496em;top:18.5452em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">will be expensed over the three-year vesting period. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact9013": {
   "value": "<div class=\"stl_01\" style=\"left:38.7454em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_489\" style=\"word-spacing:0.0005em;\">Note 30 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7454em;top:7.0862em;\"><span class=\"stl_681 stl_15 stl_135\" style=\"word-spacing:0.0139em;\">Acquisition of businesses \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:10.2184em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.03em;\">On February 15, 2023, Bavarian Nordic A/S entered into \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.0515em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0283em;\">an agreement with Emergent BioSolutions to acquire \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.8846em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0273em;\">two marketed travel vaccines, Vivotif</span><sup style=\"top: -0.2072em;\"><span class=\"stl_770 stl_15 stl_27\" style=\"word-spacing:0.1974em;\">\u00ae </span></sup><span class=\"stl_353 stl_15 stl_44\" 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_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">tion of typhoid fever and Vaxchora</span><sup style=\"top: -0.2079em;\"><span class=\"stl_770 stl_15 stl_27\" style=\"word-spacing:0.1974em;\">\u00ae </span></sup><span class=\"stl_353 stl_15 stl_282\" 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_353 stl_15 stl_32\" 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_353 stl_15 stl_289\" style=\"word-spacing:-0.0346em;\">of chikungunya virus. The acquisition further included a \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:15.2183em;\"><span class=\"stl_353 stl_15 stl_92\" 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_353 stl_15 stl_48\" 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_353 stl_15 stl_284\" 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_353 stl_15 stl_55\" 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_353 stl_15 stl_68\" style=\"word-spacing:-0.0295em;\">force. The acquisition included four subsidiaries, the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:19.3839em;\"><span class=\"stl_353 stl_15 stl_165\" 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_353 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">The US-based activities were carved-out from Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:21.0502em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0267em;\">BioSolutions and were integrated into Bavarian Nordic\u2019s \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:21.8833em;\"><span class=\"stl_353 stl_15 stl_79\" style=\"word-spacing:-0.0215em;\">current US entity. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:23.5502em;\"><span class=\"stl_353 stl_15 stl_290\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_47\" 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_353 stl_15 stl_183\" 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_353 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">which included estimated adjustments for net working \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:28.5489em;\"><span class=\"stl_353 stl_15 stl_21\" 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_353 stl_15 stl_194\" 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_353 stl_15 stl_47\" style=\"word-spacing:-0.0277em;\">closing payment of USD 0.6 million. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:31.8764em;\"><span class=\"stl_352 stl_12 stl_378\" style=\"word-spacing:-0.0356em;\">Details of the acquisition \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:32.7152em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">The purchase price was allocated to the acquired net \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:33.5483em;\"><span class=\"stl_353 stl_15 stl_287\" style=\"word-spacing:-0.0329em;\">asset, see further below. The transaction was not \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:34.3814em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0325em;\">subject to recognition of goodwill. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:10.2145em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">Transaction costs of DKK 64 million were included in \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:11.0477em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0303em;\">administration costs in the income statement for 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:12.7145em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">Bavarian Nordic is conditioned to pay Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:13.5477em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">BioSolutions upon the achievement of milestones \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:14.3808em;\"><span class=\"stl_353 stl_15 stl_288\" 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:15.2139em;\"><span class=\"stl_353 stl_15 stl_68\" 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:16.047em;\"><span class=\"stl_353 stl_15 stl_65\" style=\"word-spacing:-0.0248em;\">of the marketed vaccines (USD 30 million). Based \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:16.8802em;\"><span class=\"stl_353 stl_15 stl_422\" style=\"word-spacing:-0.0354em;\">on regulatory plans and expectations for future \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:17.7133em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0277em;\">submission and approval of applications related to \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:18.5464em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.0319em;\">the chikungunya-vaccine all development milestones \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:19.3795em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">were assumed probable. The net present value of the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:20.2127em;\"><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">probable milestone payments, DKK 499 million, was \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:21.0458em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">recognized as part of the \"Acquired rights and devel- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:21.8789em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0283em;\">opment in progress\" (further addition to the asset) and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:22.712em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">a corresponding liability was recognized as deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:23.5452em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0315em;\">consideration. The sales milestone of USD 30 million \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:24.3783em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0268em;\">related to future sale of Vivotif</span><sup style=\"top: -0.2008em;\"><span class=\"stl_770 stl_15 stl_27\" style=\"word-spacing:0.6708em;\">\u00ae </span></sup><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">and Vaxchora</span><sup style=\"top: -0.2081em;\"><span class=\"stl_770 stl_15 stl_27\" style=\"word-spacing:0.1974em;\">\u00ae </span></sup><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0285em;\">was not \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:25.2187em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">considered probable. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:26.8856em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">The acquisition in total contributed with DKK 142.6 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:27.7187em;\"><span class=\"stl_353 stl_15 stl_51\" style=\"word-spacing:-0.032em;\">million and DKK 399 million to revenue and EBITDA, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:28.5518em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0299em;\">respectively in 2023. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:10.2189em;\"><span class=\"stl_353 stl_15 stl_25\" 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_353 stl_15 stl_288\" 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_353 stl_15 stl_284\" 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_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">the following provisional calculation of the fair value of \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.0514em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0287em;\">the 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:29.4669em;top:14.1488em;\"><span class=\"stl_269 stl_12 stl_182\" style=\"word-spacing:-0.0232em;\">Total acquisition in 2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:15.8388em;\"><span class=\"stl_277 stl_15 stl_493\" 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_15 stl_229\">449,577 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:16.8607em;\"><span class=\"stl_277 stl_15 stl_66\" 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_15 stl_301\">1,286,778 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:17.8825em;\"><span class=\"stl_277 stl_15 stl_289\" 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_15 stl_367\">5,419 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:18.9044em;\"><span class=\"stl_277 stl_15 stl_287\" 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_15 stl_266\">681,453 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:19.9263em;\"><span class=\"stl_277 stl_15 stl_63\" 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_15 stl_414\">41,943 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:20.9482em;\"><span class=\"stl_277 stl_15 stl_53\">Inventories \u00a0</span></div><div class=\"stl_01\" style=\"left:34.2832em;top:20.9482em;\"><span class=\"stl_277 stl_15 stl_370\">126,933 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:21.9701em;\"><span class=\"stl_277 stl_15 stl_66\">Receivables \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5769em;top:21.9701em;\"><span class=\"stl_277 stl_15 stl_203\">20,503 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:22.9919em;\"><span class=\"stl_277 stl_15 stl_54\">Prepayments \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5863em;top:22.9919em;\"><span class=\"stl_277 stl_15 stl_651\">39,899 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:24.0138em;\"><span class=\"stl_277 stl_15 stl_285\">Cash \u00a0</span></div><div class=\"stl_01\" style=\"left:34.5688em;top:24.0138em;\"><span class=\"stl_277 stl_15 stl_57\">66,531 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:25.0357em;\"><span class=\"stl_277 stl_15 stl_28\" 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_15 stl_118\">(25,814) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:26.0575em;\"><span class=\"stl_277 stl_15 stl_288\" 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_15 stl_114\">(55,988) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:27.0794em;\"><span class=\"stl_277 stl_15 stl_35\" 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_15 stl_651\">(136,686) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:28.1013em;\"><span class=\"stl_277 stl_15 stl_73\" 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_15 stl_771\">(41,943) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:29.1232em;\"><span class=\"stl_277 stl_15 stl_91\" 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_15 stl_772\">(61,189) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:30.1394em;\"><span class=\"stl_269 stl_12 stl_183\" 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_269 stl_12 stl_139\">2,397,416 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:31.765em;\"><span class=\"stl_269 stl_12 stl_21\" style=\"word-spacing:-0.0341em;\">Contingent consideration \u00a0</span></div><div class=\"stl_01\" style=\"left:33.9257em;top:31.765em;\"><span class=\"stl_269 stl_12 stl_419\">(499,312) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:33.3907em;\"><span class=\"stl_269 stl_12 stl_282\" style=\"word-spacing:-0.035em;\">Consideration transferred \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5838em;top:33.3907em;\"><span class=\"stl_269 stl_12 stl_144\">1,898,104 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:34.4182em;\"><span class=\"stl_277 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Cash acquired \u00a0</span></div><div class=\"stl_01\" style=\"left:34.4025em;top:34.4182em;\"><span class=\"stl_277 stl_15 stl_162\">(66,531) \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:35.4344em;\"><span class=\"stl_269 stl_12 stl_96\" style=\"word-spacing:-0.0348em;\">Cash used for acquisition of business \u00a0</span></div><div class=\"stl_01\" style=\"left:33.5569em;top:35.4344em;\"><span class=\"stl_269 stl_12 stl_174\">1,831,573 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7244em;top:37.0657em;\"><span class=\"stl_277 stl_15 stl_287\" style=\"word-spacing:-0.033em;\">Number of employees \u00a0</span></div><div class=\"stl_01\" style=\"left:35.385em;top:37.0657em;\"><span class=\"stl_277 stl_15 stl_52\">280 \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact9020": {
   "value": "<div class=\"stl_01\" style=\"left:40.0119em;top:10.1588em;\"><span class=\"stl_683 stl_12 stl_288\" style=\"word-spacing:-0.0281em;\">Accounting policies \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.2056em;\"><span class=\"stl_353 stl_15 stl_68\" 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_353 stl_15 stl_278\" 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_353 stl_15 stl_37\" 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_353 stl_15 stl_193\" 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_353 stl_15 stl_41\" 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_353 stl_15 stl_54\" 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_353 stl_15 stl_66\" 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_353 stl_15 stl_285\" 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_353 stl_15 stl_35\" 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_353 stl_15 stl_181\" 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_353 stl_15 stl_194\" style=\"word-spacing:-0.0329em;\">ured at amortized cost. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact9044": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_366\" style=\"word-spacing:0.0075em;\">Note 32 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_131\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2227em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0002em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:11.9583em;\"><span class=\"stl_269 stl_12 stl_91\" style=\"word-spacing:-0.0338em;\">Collaborative agreements \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">Contractual obligations with research (CRO) and manufacturing (CMO) partners. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">- Due within 1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6027em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_776\">139,183 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5664em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_45\">44,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:15.8433em;\"><span class=\"stl_352 stl_12 stl_378\" style=\"word-spacing:-0.0356em;\">Earnout to Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.682em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:17.5152em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Emergent BioSolutions in May 2023 includes an earnout \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:18.3483em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">payment starting at USD 30 million. The earnout \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:19.1814em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">payment relates to sale of Vivotif and Vaxchora. As \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.0145em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">per December 31, 2023 Management does not judge \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.8477em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">the sales milestone to be probable and therefore the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:21.6808em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">earnout payment has not been recognized as either \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:22.5139em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">part of the project rights (note 15) nor the deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:23.347em;\"><span class=\"stl_353 stl_15 stl_210\" style=\"word-spacing:-0.0173em;\">consideration (note 24). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:25.0083em;\"><span class=\"stl_352 stl_12 stl_90\" style=\"word-spacing:-0.0343em;\">License agreements National Cancer Institute \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:25.847em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">The Group has license agreements with the National \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:26.6802em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">Cancer Institute (NCI) and Public Health Service (PHS) in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:27.5133em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">the U.S. for PROSTVAC, CV301 and BN-Brachyury, respec- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:28.3464em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">tively. The agreements include contingent liabilities for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.1795em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">the Group to pay performance-based royalties, if and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:30.0127em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">when certain milestone events are achieved. Further, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:30.8458em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">the agreements include potential contingent liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:31.6789em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">for the Group to pay additional sublicensing royalties \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:15.8458em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0277em;\">on the fair market value of consideration received, if \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:16.6789em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0325em;\">and when the Group grants such sublicenses. Payments \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:17.512em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">considered remote are not included in the amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:18.3452em;\"><span class=\"stl_353 stl_15 stl_347\">above. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:20.0064em;\"><span class=\"stl_352 stl_12 stl_390\" style=\"word-spacing:-0.0372em;\">Company mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:20.8452em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">The Company has by letter of indemnity granted \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:21.6783em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">Nordea a floating charge on unsecured claims arising \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:22.5114em;\"><span class=\"stl_353 stl_15 stl_165\" 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:55.7489em;top:23.3445em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">materials, intermediate products and finished products, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:24.1777em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">DKK 150 million (DKK 150 million). The floating charge \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:25.0108em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0319em;\">secures the operating credit line of DKK 20 million and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:25.8439em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0349em;\">the line for trading in financial instruments, DKK 50 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:26.677em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0251em;\">million (DKK 50 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:28.3383em;\"><span class=\"stl_352 stl_12 stl_96\">Lawsuits \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:29.177em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">Based on management's assessment the Group is not \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:30.0102em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">involved in any lawsuits or arbitration cases which \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:30.8433em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">could have a material impact on the Group's financial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:31.6764em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">position or results of operations. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact9045": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_366\" style=\"word-spacing:0.0075em;\">Note 32 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_131\" 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_15 stl_515\" style=\"word-spacing:-0.0398em;\">DKK thousand \u00a0</span></div><div class=\"stl_01\" style=\"left:65.2227em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_393\">2024 \u00a0</span></div><div class=\"stl_01\" style=\"left:69.0002em;top:10.2739em;\"><span class=\"stl_269 stl_12 stl_59\">2023 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:11.9583em;\"><span class=\"stl_269 stl_12 stl_91\" style=\"word-spacing:-0.0338em;\">Collaborative agreements \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:12.9858em;\"><span class=\"stl_277 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">Contractual obligations with research (CRO) and manufacturing (CMO) partners. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">- Due within 1 year \u00a0</span></div><div class=\"stl_01\" style=\"left:64.6027em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_776\">139,183 \u00a0</span></div><div class=\"stl_01\" style=\"left:68.5664em;top:14.0077em;\"><span class=\"stl_277 stl_15 stl_45\">44,080 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:15.8433em;\"><span class=\"stl_352 stl_12 stl_378\" style=\"word-spacing:-0.0356em;\">Earnout to Emergent \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:16.682em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">The Purchase and Sale Agreement concluded with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:17.5152em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">Emergent BioSolutions in May 2023 includes an earnout \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:18.3483em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0332em;\">payment starting at USD 30 million. The earnout \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:19.1814em;\"><span class=\"stl_353 stl_15 stl_288\" style=\"word-spacing:-0.0282em;\">payment relates to sale of Vivotif and Vaxchora. As \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.0145em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">per December 31, 2023 Management does not judge \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:20.8477em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">the sales milestone to be probable and therefore the \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:21.6808em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">earnout payment has not been recognized as either \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:22.5139em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.029em;\">part of the project rights (note 15) nor the deferred \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:23.347em;\"><span class=\"stl_353 stl_15 stl_210\" style=\"word-spacing:-0.0173em;\">consideration (note 24). \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:25.0083em;\"><span class=\"stl_352 stl_12 stl_90\" style=\"word-spacing:-0.0343em;\">License agreements National Cancer Institute \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:25.847em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0307em;\">The Group has license agreements with the National \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:26.6802em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0279em;\">Cancer Institute (NCI) and Public Health Service (PHS) in \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:27.5133em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0303em;\">the U.S. for PROSTVAC, CV301 and BN-Brachyury, respec- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:28.3464em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">tively. The agreements include contingent liabilities for \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:29.1795em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0308em;\">the Group to pay performance-based royalties, if and \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:30.0127em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0294em;\">when certain milestone events are achieved. Further, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:30.8458em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">the agreements include potential contingent liabilities \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7408em;top:31.6789em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">for the Group to pay additional sublicensing royalties \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:15.8458em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0277em;\">on the fair market value of consideration received, if \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:16.6789em;\"><span class=\"stl_353 stl_15 stl_285\" style=\"word-spacing:-0.0325em;\">and when the Group grants such sublicenses. Payments \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:17.512em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0311em;\">considered remote are not included in the amounts \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:18.3452em;\"><span class=\"stl_353 stl_15 stl_347\">above. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:20.0064em;\"><span class=\"stl_352 stl_12 stl_390\" style=\"word-spacing:-0.0372em;\">Company mortgage \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:20.8452em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">The Company has by letter of indemnity granted \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:21.6783em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0316em;\">Nordea a floating charge on unsecured claims arising \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:22.5114em;\"><span class=\"stl_353 stl_15 stl_165\" 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:55.7489em;top:23.3445em;\"><span class=\"stl_353 stl_15 stl_24\" style=\"word-spacing:-0.0331em;\">materials, intermediate products and finished products, \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:24.1777em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0289em;\">DKK 150 million (DKK 150 million). The floating charge \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:25.0108em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0319em;\">secures the operating credit line of DKK 20 million and \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:25.8439em;\"><span class=\"stl_353 stl_15 stl_96\" style=\"word-spacing:-0.0349em;\">the line for trading in financial instruments, DKK 50 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:26.677em;\"><span class=\"stl_353 stl_15 stl_33\" style=\"word-spacing:-0.0251em;\">million (DKK 50 million). \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:28.3383em;\"><span class=\"stl_352 stl_12 stl_96\">Lawsuits \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:29.177em;\"><span class=\"stl_353 stl_15 stl_25\" style=\"word-spacing:-0.0312em;\">Based on management's assessment the Group is not \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:30.0102em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">involved in any lawsuits or arbitration cases which \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:30.8433em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">could have a material impact on the Group's financial \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7489em;top:31.6764em;\"><span class=\"stl_353 stl_15 stl_283\" style=\"word-spacing:-0.0322em;\">position or results of operations. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact9058": {
   "value": "<div class=\"stl_01\" style=\"left:4.7192em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_489\" style=\"word-spacing:0.0005em;\">Note 33 \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7192em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_266\" style=\"word-spacing:0.005em;\">Related party transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:10.2168em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0317em;\">The Group Management and Board of Directors of \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:11.05em;\"><span class=\"stl_353 stl_15 stl_41\" style=\"word-spacing:-0.0306em;\">Bavarian Nordic A/S are considered related parties. \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:12.7168em;\"><span class=\"stl_353 stl_15 stl_146\" style=\"word-spacing:-0.031em;\">Besides the remuneration of the Board of Directors and \u00a0</span></div><div class=\"stl_01\" style=\"left:4.7243em;top:13.55em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">the Executive Management, cf. note 8, and the share- \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:10.2168em;\"><span class=\"stl_353 stl_15 stl_69\" style=\"word-spacing:-0.0278em;\">based payments, cf. note 29, there are no transactions \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:11.05em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0302em;\">with related parties. \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:12.7168em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0299em;\">Transactions with subsidiaries are eliminated in the \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:13.55em;\"><span class=\"stl_353 stl_15 stl_73\" style=\"word-spacing:-0.0274em;\">consolidated financial statements, in accordance with \u00a0</span></div><div class=\"stl_01\" style=\"left:21.7325em;top:14.3831em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">the accounting policies. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact9062": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:5.6433em;\"><span class=\"stl_345 stl_15 stl_456\" style=\"word-spacing:-0.0065em;\">Note 34 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:7.1696em;\"><span class=\"stl_681 stl_15 stl_136\" 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_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">On January 31, 2025, the Company completed a share \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.052em;\"><span class=\"stl_353 stl_15 stl_55\" style=\"word-spacing:-0.0317em;\">buy-back program, which was announced and initiated \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:11.8852em;\"><span class=\"stl_353 stl_15 stl_275\" style=\"word-spacing:-0.0288em;\">on January 9, 2025. As planned, the Company repur- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:12.7183em;\"><span class=\"stl_353 stl_15 stl_66\" style=\"word-spacing:-0.0291em;\">chased shares of approximately DKK 150 million with \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:13.5514em;\"><span class=\"stl_353 stl_15 stl_21\" style=\"word-spacing:-0.0339em;\">the purpose of adjusting the capital structure. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:15.2183em;\"><span class=\"stl_353 stl_15 stl_90\" style=\"word-spacing:-0.0344em;\">On February 14, 2025, the U.S. Food and Drug Adminis- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.0514em;\"><span class=\"stl_353 stl_15 stl_42\" style=\"word-spacing:-0.0233em;\">tration (FDA) approved VIMKUNYA\u2122, the first virus-like \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:16.8845em;\"><span class=\"stl_353 stl_15 stl_282\" style=\"word-spacing:-0.035em;\">particle single-dose chikungunya vaccine in the US \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:17.7177em;\"><span class=\"stl_353 stl_15 stl_190\" style=\"word-spacing:-0.0298em;\">for persons 12 years of age and older. Upon approval, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:18.5508em;\"><span class=\"stl_353 stl_15 stl_32\" style=\"word-spacing:-0.0267em;\">Bavarian Nordic received a Priority Review Voucher, \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:19.3839em;\"><span class=\"stl_353 stl_15 stl_16\" style=\"word-spacing:-0.0301em;\">which the Company intends to monetize when appro- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:20.217em;\"><span class=\"stl_353 stl_15 stl_204\">priate. \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:21.8839em;\"><span class=\"stl_353 stl_15 stl_392\" style=\"word-spacing:-0.0362em;\">On February 25, 2025, the Company announced a stra- \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:22.717em;\"><span class=\"stl_353 stl_15 stl_91\" style=\"word-spacing:-0.0338em;\">tegic partnership with Biological E. Limited, initially \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:23.5502em;\"><span class=\"stl_353 stl_15 stl_290\" style=\"word-spacing:-0.0335em;\">signing a contract manufacturing agreement with the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:10.217em;\"><span class=\"stl_353 stl_15 stl_194\" style=\"word-spacing:-0.0328em;\">aim to provide capacity for the future supply of chikun- \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.0502em;\"><span class=\"stl_353 stl_15 stl_92\" style=\"word-spacing:-0.0313em;\">gunya vaccines to endemic low- and middle-income \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:11.8833em;\"><span class=\"stl_353 stl_15 stl_41\">countries. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:13.5502em;\"><span class=\"stl_353 stl_15 stl_54\" style=\"word-spacing:-0.0298em;\">On February 28, 2025, the Company received marketing \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7483em;top:14.3833em;\"><span class=\"stl_353 stl_15 stl_193\" style=\"word-spacing:-0.0304em;\">authorization in Europe for VIMKUNYA</span><sup style=\"top: -0.2058em;\"><span class=\"stl_770 stl_15 stl_27\" style=\"word-spacing:0.1974em;\">\u00ae </span></sup><span class=\"stl_353 stl_15 stl_30\" style=\"word-spacing:-0.0324em;\">for persons 12 \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:15.2187em;\"><span class=\"stl_353 stl_15 stl_35\" style=\"word-spacing:-0.0272em;\">years of age and older. This followed a positive opinion \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:16.0518em;\"><span class=\"stl_353 stl_15 stl_378\" style=\"word-spacing:-0.0356em;\">from the Committee for Medicinal Products for Human \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:16.885em;\"><span class=\"stl_353 stl_15 stl_67\" style=\"word-spacing:-0.0284em;\">Use (CHMP) of the European Medicines Agency (EMA) \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:17.7181em;\"><span class=\"stl_353 stl_15 stl_540\" style=\"word-spacing:0.2329em;\">on January</span></div><div class=\"stl_01\" style=\"left:58.970em;top:17.7181em;\"><span class=\"stl_353 stl_15 stl_181\" style=\"word-spacing:-0.027em;\">31, 2025. \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:19.385em;\"><span class=\"stl_353 stl_15 stl_53\" style=\"word-spacing:-0.0255em;\">Except as noted above, there have been no significant \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:20.2181em;\"><span class=\"stl_353 stl_15 stl_243\" style=\"word-spacing:-0.0261em;\">events between December 31, 2024 and the date of \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:21.0512em;\"><span class=\"stl_353 stl_15 stl_68\" style=\"word-spacing:-0.0296em;\">approval of these financial statements that would \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:21.8843em;\"><span class=\"stl_353 stl_15 stl_278\" style=\"word-spacing:-0.0307em;\">require a change to or additional disclosure in the \u00a0</span></div><div class=\"stl_01\" style=\"left:55.7481em;top:22.7175em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">financial statements. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact9066": {
   "value": "<div class=\"stl_01\" style=\"left:38.7402em;top:30.163em;\"><span class=\"stl_345 stl_15 stl_489\" style=\"word-spacing:0.0005em;\">Note 35 \u00a0</span></div><div class=\"stl_01\" style=\"left:38.7402em;top:31.6893em;\"><span class=\"stl_681 stl_15 stl_128\" style=\"word-spacing:0.0119em;\">Approval of the consolidated financial statements \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:34.7368em;\"><span class=\"stl_353 stl_15 stl_284\" style=\"word-spacing:-0.0285em;\">The consolidated financial statements were approved \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:35.57em;\"><span class=\"stl_353 stl_15 stl_85\" style=\"word-spacing:-0.0318em;\">by the Board of Directors and Corporate Management \u00a0</span></div><div class=\"stl_01\" style=\"left:38.74em;top:36.4031em;\"><span class=\"stl_353 stl_15 stl_274\" style=\"word-spacing:-0.0295em;\">and authorized for issue on March 5, 2025. \u00a0</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "fact1006": {
   "value": "A/SA/S",
   "dimensions": {
    "concept": "ifrs-full:LegalFormOfEntity",
    "language": "en",
    "entity": "scheme:2138006JCDVYIN6INP51",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  }
 }
}