Because of the successful lakridsiværksætter Johan Bülow last year presented the 2018 financial statements for its private holding company Johan Bülow Holding Aps, it was the first time ever, there were red numbers on the bottom line.
the Deficit was 33 million dollars, but now it turns out that the amount was actually almost twice as large.
An error committed in the accounts means that the deficit was in fact under 60 million kroner and thus 27 million dollars greater. It appears of the brand new accounting for 2019, where the ‘material error’ is described.
the Fault has only been found in 2019 and relates to Johan Bülow’s financial costs. More specifically, it has not been the losses, which were hit in 2018, with in the accounts.
‘The lack of udgiftsførsel of realized and unrealized exchange rate losses affect the company’s financial costs, and other securities and equity investments in 2018, that is recognized with the low amount and the annual financial statements for the year 2018, thus not a true image,’ it is evident from the financial statements.
‘Yes, it is true, that it was noted in the 2018 financial statements in my private holding company. It is important for me to emphasize that the honest error had no economic benefit either to me or any other,’ writes Johan Bülow, in an email to Ekstra Bladet.
the Deficit has, however, been a single swallow, then again in 2019 came the black case on the bottom line. 22,6 million was surplus, and equity abounds, indeed, with 474 million kronor.
the Assets of nearly a half a billion dollars, was largely founded in the year 2016, when Johan Bülow sold 75 percent of its lakridslivsværk to the Swedish private equity fund Valedo Partners.
Johan Bülow owner is still the remaining shares and is today the creative director of the company.