Annual Report 2010

Management Report

Main activity

The principal activity of the CESS-DANMARK A/S consists primarily of trading in new and used midrange and high-end IT equipment.

Development in the period

Company's financial statements covers the period from January 1, 2010 to December 31, 2010.
Result before tax amounts to tDKK 3.319. After reduction of tax by tDKK 847 the net result represents tDKK 2.472.
  
Management considers the outcome as very satisfactory.
 
The organizational change in its leadership and management style, which was launched in 2009 and which continue to be developed on, has proven to be a great asset to the company's operations and economic development. The positive development continued in 2010 and seems to continue in 2011 as well.
The sales staff was increased with 45% in 2010 and the product portfolio was expanded with 2 new product areas in the fourth quarter 2010, which overall has given a boost in sales.
  
Management believes that the total volume of strategic actions in recent years has contributed significantly to the very positive work environment that is considered second to none in relation to mood and wellbeing of the company.
  
Management expects a continuation of the positive development and a moderate growth in 2011.
  
Of its total assets per December 31, 2010 of tDKK 22.230, the equity is tDKK 4.472, representing an equity ratio of 20.12%

Post balance sheet events

No events of significant importance to the financial statements have occured after the reporting period.

Uncertainty and anomalies that have affected the recognition

There is, the opinion of management, no uncertainties and anomalies that have affected the apportionment of the financial statement.
 
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For further information

Nikolaj Johansen
President & CEO
E-mail: njo@cess-dk.com
Phone: +45 9950 5010