Høje Taastrup, 1 February 2007
President Søren Stjernqvist
Board of Trustees
Hans Kirk, Chairman Jens Nørgaard Oddershede Jan Helbo
Poul Ulsøe, Vice-Chairman Gunde Odgaard Jørgen Høegh
Jørgen Elikofer Ib Rasmussen
As of this day, the company’s Board of Trustees and Board of Executives have submitted the annual report for 2006 for The Danish Technological Institute.
The annual report has been submitted in accordance with the Danish Financial Statements Act and Danish Accounting Standards with the adjustments resulting from the Danish Technological Institute being an independent
institution and an approved technological service institute. We consider the chosen accounting policies to be appropriate, such that the annual report gives a true and fair view of the Group’s and the Institute’s assets, liabilities and financial position as at 31
December 2006, as well as of the results of the Group’s and the Institute’s operations and cash flows for the financial year 1 January – 31 December 2006 in
accordance with the Danish Financial Statements Act and Danish Accounting Standards with the adjustments resulting from the Danish Technological Institute being an independent institution and an approved technological service institute.
an annual report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.
Auditors' responsibility and basis of opinion
Our responsibility is to express an opinion on this annual report based on our audit. We conducted our audit in accordance with Danish Standards on Auditing. Those stan-dards require that we comply with ethical requirements and plan and perform the audit to obtain reason-able assurance whether the annual report is free from material misstate-ment. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the annual report. The procedures selected depend on the auditors' judgement, including the assessment of the risks of material misstatement of the annual report, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the Company's preparation and fair pre-sentation of the annual report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. An audit also includes evaluating the
approp-riateness of accounting policies used and the reasonableness of account-ing estimates made by the Executive and Supervisory Boards, as well as evaluating the overall presentation of the annual report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Our audit did not result in any qualifi-cation.
Opinion
In our opinion, the annual report gives a true and fair view of the Group's and the parent company's financial position at 31 December 2006 and of the results of the Group's and the parent company's operations and consolidated cash flows for the financial year 1 January - 31 December 2006 in accordance with the Danish Financial Statements Act and Danish Accounting
Standards with the adjustments resulting from the Danish
Technological Institute being an inde-pendent institution and an approved technological service
institute.
Copenhagen, 1 February 2007 KPMG C. Jespersen
State Authorised Accounting Partnership Finn L. Meyer
State Authorised Public Accountant Lars Bo Jørgensen
State Authorised Public Accountant We have audited the annual report of
The Danish Technological Institute for the financial year 1 January - 31 December 2006, which comprises the statement by the Executive and Supervisory Boards on the annual report, Management's review, accounting policies, income state-ment, balance sheet, statement of changes in equity and notes for the Group as well as for the parent com-pany and the consolidated cash flow statement. The annual report has been prepared in accordance with the Danish Financial Statements Act and Danish Accounting Standards with the adjustments resulting from the Danish Technological Institute being an independent institution and an approved technological service institute.
The Board of Trustees and the Senior Executives’ responsibility for the annual report
The Board of Trustees and the Senior Executives are responsible for the preparation and fair presentation of this annual report in accordance with the Danish Financial Statements Act and Danish Accounting Standards with the adjustments resulting from the Danish Technological Institute being an independent institution and an approved technological service institute. This responsibility includes:
designing, implementing and main-taining internal control relevant to the preparation and fair presentation of
INDEPENDENT AUDITORS’ REPORT
Appointed by the Confederation of Danish Industries
Manufacturer
Poul Ulsøe (Vice-Chairman) B. Rustfrit Stål, Horsens A/S
Appointed by the Danish Federation of Small and Medium-Sized Companies Divisional Director
Per Bøch Andersen, Condane A/S Appointed by the Danish Chamber of Commerce
Director Svend Askær
Danish Association of Managers Appointed by Danish Association of Managers
Deputy Director Bolette Christensen Confederation of Danish Industries Appointed by the Confederation of Danish Employers
Head of Secretariat Jørgen Elikofer
Danish Metal Worker’s Union Appointed by the Board of Trustees Academic Engineer
Jørn Guldberg
Appointed by the Danish Society of Engineers
Managing Director
Hans Hellstrøm Henningsen DBI Plastics A/S
Appointed by the Confederation of Danish Employers
Chairman Thorkild E. Jensen Danish Metal Worker’s Union Appointed by the Economic Council of the Labour Movement and the Danish Confederation of Trade Unions Danish Confederation of Trade Unions Secretary
Marie-Louise Knuppert
Danish Confederation of Trade Unions Appointed by the Economic Council of the Labour Movement and the Danish Confederation of Trade Unions
Technology and Innovation Regional Council Member Vagn Majland
Copenhagen Region
Appointed by the Danish Regions Authority
Managing Director Paul Mollerup Danish Federation of Small and Medium-Sized Companies
Appointed by the Danish Federation of Small and Medium-Sized Companies Director Michael H. Nielsen Danish Construction Association Appointed by the Confederation of Danish Employers
Head of Secretariat Gunde Odgaard Federation of Building, Construction and Wood
Appointed by the Economic Council of the Labour Movement and the Danish Confederation of Trade Unions Technology Consultant Irene Odgård 3F
Appointed by the Economic Council of the Labour Movement and the Danish Confederation of Trade Unions Municipal Board Member Hans Olsen
Lejre Municipality
Appointed by the Danish Association of Municipalities
Director Flemming Preisler Tekniq
Appointed by the Confederation of Danish Employers
Director Ib Rasmussen Ib Andresen Industri A/S Appointed by the Confederation of Danish Industries
Managing Director Lauritz Rasmussen Taasinge Træ A/S
Appointed by the Confederation of Danish Employers
the Labour Movement and the Danish Confederation of Trade Unions Master Blacksmith Henrik Rønnebro G. Christensen Nykøbing F A/S Appointed by the Danish Federation of Small and Medium-Sized Companies Deputy Director Annette Toft Agricultural Council
Appointed by the Agricultural Council Chairman Poul Vinholt
HK-Industri
Appointed by the Economic Council of the Labour Movement and the Danish Confederation of Trade Unions Chairman Jørgen Vorsholt Confederation of Danish Employers Appointed by the Confederation of Danish Employers
Employee Representatives:
Consultant Carsten Christiansen Conferences and Training Electrician Peter Lindeblad Building Services Consultant Benny Neister Plastics Technology Civil Engineer Bo Højris Chemical and Water Technology
Group Managing Director Hans Kirk (Chairman) Danfoss A/S
Manufacturer
Poul Ulsøe (Vice-Chairman) B. Rustfrit Stål, Horsens A/S Head of Secretariat Jørgen Elikofer
Danish Metal Worker’s Union
Vice Chancellor, Professor Jens Nørgaard Oddershede University of Southern Denmark Head of Secretariat
Gunde Odgaard
Federation of Building, Construction and Wood
Director Ib Rasmussen
Ib Andresen Industri A/S
Consultant Jan Helbo
Employee Representative Section Leader
Jørgen Høegh
Employee Representative
President Søren Stjernqvist Director Jane Wickmann Director Lars Germann
Director
Bjørn Lykke Jensen Director
Leif Kirk Thøgersen Director
David Tveit
Group CFO
Jørgen Kunter Pedersen Manager of Secretariat of Executive Board Andras Splidt