Company Information 3

Management review 4-7

Key figures 8

Management's Statement 9

Notes 18-33

Company

Cvr-nr.: 25 60 69 65

Municipality of reg. office: Vallensbæk

Cécile Geneviève Françoise Bordet

Executive Board

Claus Rydkjær

Anders Sejersdal

Audit

Mazars

Statsautoriseret Revisionspartnerselskab

Midtermolen 1, 2.t.v.

2100 København Ø

end, it relies on its deep industry expertise locally, regionally, and globally and on its command of fast‑evolving

fields, such as cloud, data, artificial intelligence, connectivity, software, digital engineering and platforms.

As a part of Capgemini Group, Capgemini Danmark A/S delivers services and solutions that enable its customers

in Denmark to get the future they want. The ability to deliver to its target sectors in the Danish market stems from a

globally aligned and integrated business model. This operating model enables Capgemini to deliver integrated and

seamless support to its clients.

2022 highlights

Overall, 2022 showed strong financial performance and continued the positive trends from the previous fiscal year.

At DKK 527,4m, the revenue crossed the half-billion landmark for the first time in the history of Capgemini

Danmark A/S. This is a growth of 28% compared to 2021. Several successful engagements contributed to this,

science client.

The net profit also set new records ending up at DKK 24,5m (net profit DKK 17,0m in 2021). This corresponds to a

net profit margin of 4,6% (net profit margin 4,1% in 2021). Thus, Capgemini Danmark A/S has in 2022 fulfilled the

expectations of double-digit growth in revenue as well as increased profitability. The management consider the

results of the fiscal year satisfactory.

Since 2022 Capgemini Danmark A/S is no longer part of the Nordic cash pooling scheme, but now maintains

separate liquidity on its own bank account. This reflects in the assets as receivables from related parties being

replaced by DKK 66,2m of cash.

As substantial investments for future growth are expected in 2023, it is a priority for Capgemini Danmark A/S and

its shareholders to maintain a strong cash position. Consequently, Capgemini Danmark A/S will not pay any

Technology and employee competencies

With expertise in new technologies, Capgemini Danmark A/S understands their potential and the impact they have

on its clients’ business activities. This outstanding expertise is essential in gaining clients’ trust and becoming their

chosen transformation partner. The business assesses technology trends with its best global experts in domains

including AI, blockchain, cloud, edge computing, connectivity, cybersecurity, data, IoT, 5G, digital twins, and

immersive technologies (augmented/virtual reality).

The company also helps enterprises navigate the compelling opportunities for business with TechnoVision, the

Capgemini Group’s annual technological guide to implementing enterprise-ready technology in the complex

systems of its the clients.

In November 2022 Capgemini Invent was launched in Denmark. The Management Consulting team of Capgemini

Social responsibility

Social responsibility, together with the group’s ethical code and our shared values, is the foundation of our

relationship with our customers, employees and the communities and environments in which we operate. The

Capgemini Group checks on a regular basis that each subsidiary meets and complies with its guidelines for social

responsibility, as defined under the three main categories detailed below:

· Environmental sustainability

· Diversity and inclusion

· Digital inclusion

year global partnership with Nobel Prize Outreach to support innovation and science, in line with Alfred Nobel’s

vision and legacy to honor achievements “for the greatest benefit to humankind”.

Danish market. This is a philosophy that is grounded in its Employee Value Proposition and DNA, and highlights

Capgemini’s ability to offer a package that empowers people to shape attractive, sustainable and long-lasting

careers, while cultivating safe, healthy, meaningful and happy lives. It provides a flexibility depending on a

Environmental responsibility

To minimize environmental impact, Capgemini has incorporated environmental considerations as an integral part

first office buildings in Denmark fulfilling the EU Green Building Standard, i.e., with a calculated energy

consumption that is at least 25% below the national energy framework. In 2017, all interior lights were replaced

with energy-saving LED lights. Looking at this from beyond purely an environmental stance, Capgemini Danmark

A/S has experienced significant decreases in operating costs for its office facilities. The business also aims for

sustainable waste management by keeping materials in use for as long as possible and minimizing the amount of

solid waste that is disposed of.

Capgemini Danmark A/S maintains the following ISO certifications: ISO 9001 (quality management), ISO 14001

(environmental management) and ISO 27001 (information security).

Digital inclusion

Board of Directors

Implementation service relates to the implementation of new and existing software licenses. Implementation

services are recognised over time as the work is performed. Fixed fee agreements are recognized based on

Typical payment terms on the contracts are net 30 days.

Production costs

and similar expenses. Furthermore, production costs comprise provisions to cover losses on fixed price contracts.

Sales and distribution costs

Sales and distribution expenses comprise salaries and expenses related to sales and marketing.

Administration costs

Administration expenses comprise expenses regarding administrative personnel, salaries to management,

Financial income and expenses

Financial income and expenses comprise interest income and expenses, realised and non-realised capital

Deferred income tax assets are recognised only to the extent that it is probable that future taxable profit will be

available, against which the temporary differences can be utilised.

Other fixtures, fittings and furniture, hardware and leasehold improvements are measured at cost less

accumulated depreciation and accumulated impairment losses.

· Cars 3 years

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include

Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a

payments. Other payable are recognized at amortized cost, which is usually equivalent to the nominal value.

Provisions

a judical or actual liability and it is likely that economic advantages must be released to fulfill the liability. Provisions

is made for fixed price agreements on the basis of an individual evaluation of each agreement.

Statement of cash flow

The cash flow statement shows the Company's cash flows during the year distributed on operating, investing and

financing activities, changes in cash and cash equivalents at the beginning and at the end of the year.

adjusted for changes in working capital and non-cash operating items such as depreciation, amortization and

impairment losses, and provisions. Working capital comprises current assets less short-term debt excluding items

included in cash and cash equivalents.

· Gross margin is calculated as the gross profit divided by revenue.

· Return on equity is calculated as net profit or loss for the year divided by the average equity.

· Return on invested capital including goodwill is calculated as operating profit before special items, divided by

average invested capital including goodwill.

· Operation margin is calculated as the operation profit divided by revenue.

Invested capital including goodwill is defined as net working capital plus property, plant and equipment and

intangible assets as well as accumulated amortization of goodwill, and minus other provisions and other long-term

Net working capital is defined as inventories, receivables and other operating current assets net of trade payables

The judgments, estimates and assumptions made are based on historical experience and other factors that

Management considers to be reliable, but which by their very nature are associated with uncertainty and

may arise. The most critical judgments, estimates and assumptions for the individual items are described below.

Capgemini Danmark A/S is also subject to risks and uncertainties that may lead to actual results differing from

these estimates, both positively and negatively.

Impairment test of Goodwill

Capgemini Danmark A/S annually tests whether goodwill has suffered any impairment, in accordance with the

Deferred tax assets

Capgemini Danmark A/S recognizes deferred tax assets relating to losses carried forward when management

finds that these can be offset against taxable income in the foreseeable future. An assessment is made taking into

progress. Capgemini Danmark A/S uses the percentage of completion method to account for contracts in progress

based on the hours used on the current project. Management’s estimate of the total hours expected to be used on

the projects are based on the concrete assessment of the Delivery Manager as well as historical empirical data

from uniform projects. All major fixed-price projects are subject to quarterly reviews with the Management. The

current estimate of revenue on contracts in progress are disclosed in note 17.

key management for employee services is shown below:

Income tax is specified as follows:

Impairment test for goodwill