XCSE:STRAP ESEF Annual Report
Strategic Partners A/S (XCSE:STRAP)
ESEF Annual Report
2025-09-23
For: 2025-06-30
View Original
Added on
September 22, 2026
CVR No.: 32266355
Interim Report First Half 2025
Strategic Partners A/S (the “Company”), today announces its Interim Report First Half 2025 for
the period January 1 – June 30, 2025.
Financial highlights First Half 2025
The total comprehensive profit/loss for the first half 2025 was a net loss of DKK 1.2 million
compared to a total comprehensive profit of DKK 1.8 million for the same period in 2024.
Operating expenses for the six months ended June 30, 2024 totaled DKK 1.4 million compared
to DKK 1.5 million for the same period in 2024.
In January 2025 the Company sold its strategic position in CombiGene AB for a price close to
the acquisition cost. The investment in CombiGene AB contributed with a net profit of DKK 0.4
million until the sale in January.
The result from property investments and securities is reported as other income and is realized
at a net gain DKK 0.1 million.
The Company is in the final process to liquidate its subsidiaries in US and Switzerland and
expect that the liquidation will be finalized in 2025. Following these liquidations, the Company
will only consist of the Danish parent company.
Page 1 of 10
Management’s review and Business update
In continuation of the strategy, it is still the Company's wish to continue investing and adding
competences in new partnerships in order to create added value for the Company's
shareholders, as well as to attract additional capital to the company via capital raisings or the
purchase of companies/assets via the issue of new shares in order to gain a greater critical
mass.
Risk and uncertainties
For information on risks and uncertainties relating to Orphazyme’s business please refer to our
Statutory Annual Report 2024. Additional risks and uncertainties, including risks that are not
known to the Company at present or that its management currently deems immaterial or non-
specific to the Company, may also arise or become material or specific to the Company in the
future, which could, if such risks were to materialize, have a material and adverse effect on the
Company’s business, financial condition, and/or results of operations.
Subsequent Events
Management is not aware of any events subsequent to 30 June 2025 which could be expected
to have a significant impact on the group’s financial position.
Outlook
Based on the first half of the year the company changes its outlook from previously an
operating loss in the range of DKK -3 to -4 million to DKK -2 to -3 million .
Forward-looking statements, in particular relating to future activities, operating income and
expenses as well as other key financials, are subject to risks and uncertainties. Various factors,
many of which lie outside of the Company’s control, may cause the realized results to differ
materially from the expectations presented in this earnings release.
Page 2 of 10
Condensed Key Figures
As of and for
the six-
As of and for
the six-months
ended Jun 30,
2024
As of and for the
year
DKK (000)
months ended
Jun 30, 2025
ended Dec
31, 2024
Statement of profit or loss
General and administrative expenses
Other income and expenses
Operating profit/(loss)
Net financial items
(1,448)
57
(1,492)
3,186
1,694
154
(2,897)
2,696
(201)
(97)
(1,391)
204
Total comprehensive income (loss)
Profit / (loss) per share, basic (DKK)
Profit / (loss) per share, diluted (DKK)
Statement of financial position
Investment property
(1,187)
(28)
1,848
52
(298)
(8)
(28)
52
(8)
3,573
3,222
12,053
2
-
13,973
3,781
97
3,550
3,886
16,086
36
Cash
Securities
Other current assets
Total assets
18,850
6,257
18,061
789
17,850
5,297
16,089
1,761
23,558
6,257
19,248
4,310
Share capital
Total equity
Current liabilities
Cash flow statement
Net cash from operating activities
Net cash from investing activities
Net cash from financing activities
Other
(4,628)
3,964
-
(289)
2,993
-
(3,361)
(9,327)
5,306
Share price (DKK)
1,000
41,712
41.7
968
35,312
34.2
825
41,712
34.4
Total outstanding shares
Market capitalization (DKK million)
Equity ratio
96%
85%
82%
Equity per share (DKK)
433
427
461
Page 3 of 10
Statement of Profit or Loss and Other Comprehensive Income
Twelve
months
ended
Six months
ended
Six months
ended
Jun 30, 2025 Jun 30, 2024 Dec 31, 2024
DKK (000)
DKK (000)
DKK (000)
General and administrative expenses
Other income and expenses
Operating result
(1,448 )
(1,492 )
(2,897 )
(1,391 )
(201 )
Financial items, net
(97 )
Total comprehensive income (loss)
(298 )
Profit/(loss) per share, basic
Profit/(loss) per share, diluted
(28 )
(28 )
(8 )
(8 )
Page 4 of 10
Statement of Financial position
Jun 30, 2025 Jun 30, 2024 Dec 31, 2024
DKK (000)
DKK (000)
DKK (000)
ASSETS
Fixed assets
Investment property
Total fixed assets
-
-
Current assets
Prepayments and other receivables
Securities and partnerships
Cash
Total current assets
TOTAL ASSETS
EQUITY & LIABILITIES
Equity
Share capital
Other reserves
Retained earnings
Total equity
-
-
Current liabilities
Trade payable and accruals
Total current liabilities
TOTAL EQUITY AND LIABILITIES
Page 5 of 10
Statement of Changes in Shareholders’ Equity
Share capital
Other
reserves
Accumulated
deficit
Total
DKK (000)
Balance as of Dec 31, 2023
-
Capital reduction
(6,986 )
-
-
Net loss for the period
-
-
Balance as of June 30, 2024
Balance as of Dec 31, 2024
6,257
-
12,991
19,248
Net profit for the period
-
-
(1,187 )
(1,187 )
Balance as of June 30, 2025
-
Page 6 of 10
Cash Flow Statement
Six months ended
Jun 30, 2025
DKK (000)
Six months ended
Jun 30, 2024
DKK (000)
Operating activities
Operating profit / (loss)
(1,391 )
Investment result, non cash
Change in receivables
(3,309 )
Change in accruals and other liabilities
Interest received / (paid), net
Cash flow from operating activities
(3,521 )
(4,628 )
(289 )
Investing activities
Purchase of securities
-
(23 )
(2,963 )
-
Sale of securities
Investment property
Cash flow from investment activities
Changes in cash and cash equivalents
(664 )
Cash balance at beginning of period
Cash balance at end of period
Page 7 of 10
Notes to the Interim Financial Statement
NOTE 1 – CORPORATE INFORMATION
Strategic Partners A/S is headquartered in Copenhagen, Denmark and is publicly traded on
Nasdaq Copenhagen.
The Company is in the process of the final liquidation of the subsidiaries in US and Switzerland.
There were no material related party transactions during the first half of 2025 other than
remuneration to the Executive Management and the Board of Directors.
Basis of preparation
The interim condensed financial statements for the six months ended June 30, 2025 have been
prepared in accordance with IAS 34 Interim Financial Reporting as issued by the International
Accounting Standards Board (IASB) and as adopted by the EU, and additional Danish disclosure
requirements for interim reports of companies listed on the Nasdaq Copenhagen.
The interim condensed financial statements do not include all the information and disclosures
required in annual financial statements and should be read in conjunction with the Company’s
latest annual financial statements as of December 31, 2024. These interim condensed financial
statements have been prepared in accordance with the going concern assumption.
Updates to the Group's accounting policies
The accounting policies used in the preparation of the interim condensed financial statements
are consistent with those used in the preparation of Strategic Partners A/S’s annual financial
statements for the year ended December 31, 2024.
The interim financial report has not been reviewed or audited by the Company’s independent
auditors.
Significant accounting estimates and judgements
The significant accounting estimates and judgements disclosed in note 1.4 of the financial
statements for the year ended December 31, 2024 are still applicable.
Page 8 of 10
NOTE 2 –INVESTMENT IN PARTNERSHIPS AND INVESTMENT PROPERTY
In January 2025 the Company sold the position in CombiGene AB for a price close to the
acquisition cost.
The Company is currently investigating different strategic investments.
NOTE 3 – DEFERRED TAX ASSETS
The Company’s tax losses can be carried forward infinitely subject to the general rules on
limited deductibility due to ownership changes.
For the period ended June 30, 2025, the Company has unrecognized net tax loss carry-forwards
in the Danish entity in the amount of DKK 2,212 million which is equal to a deferred tax asset of
DKK 487 million as of June 30, 2025.
Page 9 of 10
Copenhagen, September 16th, 2025.
Board of Directors
Executive Management
Page 10 of 10