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Contents Management's Review 7 FY24 at a glance 8 Lars Larsen Group at a glance 10 History 12 Governance 14 Values and strategy 16 Business structure 18 Retail 20 Investments 24 Business model 26 Group highlights FY24 28 Financial review 30 Global tax footprint Lars Larsen Group head office 32 Moving together 34 The Tradesman moves in Retail throughout the year 36 A milestone year for JYSK 37 JYSK expands to two new continents 38 25 years as a specialist 39 BOLIA accelerates expansion 40 New CEO of ILVA: Meet Kim Møller Mønster Contributing to value in society 44 Celebrating diversity: #proudtobeJYSK 45 JYSK support athletes at Paris Paralympics 46 Contributing to make a difference Sustainability 50 Submission to the Science Based Targets initiative 54 Statutory statement of corporate social responsibility 55 Sustainability within the Group 56 Sustainability strategy 58 Environment 59 Social 60 Governance 62 The underrepresented gender 63 Data ethics 64 ESG data 68 ESG reporting principles Consolidated Financial Statements 72 Income statement 73 Balance sheet 74 Statement of changes in equity 75 Cash flow statement 76 Notes Parent Company Financial Statements 94 Income statement 95 Balance sheet 96 Statement of changes in equity 97 Notes Management's Statement and Auditor's Report 106 Management's statement 1 08 Independent auditor's report