Det Østasiatiske Kompagni (OKEAC) investor relations material

Executive summary

• Dividend income and liquidity met expectations, with stable earnings from ELV but continued losses in TPA, resulting in a net loss of DKK 2.2 million for 2025, an improvement from DKK -2.9 million in 2024.

• TPA faced significant market challenges due to intense competition from Chinese companies, leading to a negative contribution, while ELV delivered stable and increasing dividends.

• The transfer of ELV ownership from EAC China to the parent company in Denmark was completed, ensuring direct dividend flow and potential cost savings.

• All outstanding tax cases were resolved after the Danish Tax Agency dropped interest claims of DKK 2.2 million in March 2026.

Financial highlights

• Dividend income from investments was DKK 0.9 million (2024: DKK 1.6 million).

• Cash and cash equivalents at year-end were DKK 7.8 million (2024: DKK 9.4 million), with DKK 4.2 million restricted in China.

• EBIT was DKK -2.5 million (2024: DKK -2.7 million); net loss for the year was DKK 2.2 million (2024: DKK -2.9 million).

• Total assets decreased to DKK 32.7 million (2024: DKK 36.5 million); equity at DKK 32.6 million (2024: DKK 36.4 million).

• Free cash flow was DKK -1.5 million (2024: DKK -1.1 million).

Outlook and guidance

• 2026 EBIT expected at around DKK -2.3 million.

• Dividend income from Asian minority investments forecast at DKK 1.1 million.

• Year-end 2026 cash expected at DKK 7.0 million.

• No asset disposals planned for 2026; continued challenging market for TPA, while ELV dividend stream is stable and rising.