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Introducing Lars Larsen Group 4 FY23 at a glance 6 Lars Larsen Group at a glance 8 History 10 Governance 12 Values and strategy 14 Business structure 16 Lars Larsen Group Retail 18 Lars Larsen Group Investments 20 Business model 22 Global Tax Footprint 24 Business highlights 2022/23 26 Financial highlights 2022/23 Tradesmanship 30 Strengthening the backbone of Lars Larsen Group 32 New name, new opportunities 38 Leading through change 42 ‘Købmanden’ 44 An affirmation of growth Responsibility 48 Lars Larsen Group signs up to the Science Based Targets initiative 50 Building a vision 56 Responsible contributions across our group Growth 62 Merhaba Türkiye! 64 "Expansion is a permanent goal" 68 Ten out of ten: Restaurant Tiende and Den Fede Drue are off to a great start 72 A transformed HimmerLand 78 The Kejlstrupvej 87 experience 84 Achievements across Lars Larsen Group Annual accounts 86 Basis of preparation 87 Income statement 88 Balance sheet – Assets 89 Balance sheet – Liabilities and equity 90 Cash flow statement The bronze sculpture 'Købmanden'. Read more on page 42.