MTH Projekt 23 ApS
APSDissolvedCVR 39723859Knud Højgaards Vej 7, 2860 SøborgDevelopment of building projects· NACE 6812Est. 2018 · 8 years old— employees
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Overview
MTH Projekt 23 ApS is a Danish APS based in Søborg, operating in the Development of building projects sector. Incorporated in 2018, the company reported revenue of DKK 20.4m in its latest annual filing.
Revenue 2024
20.4M DKK
−60% vs 2023
EBITDA margin
11.8 %
−47% vs 2023
Net profit 2024
0.9M DKK
-5% vs 2023
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
15.9 %
WeakAmong the 40% lowest rated companies in the industry
20202024
Liquidity ratioCurrent assets ÷ Short-term debt
1.2×
StrongAmong the 40% highest rated companies in the industry
20202024
Return on assets (ROA)Net profit ÷ Total assets × 100
3.5 %
StrongAmong the 40% highest rated companies in the industry
20202024
EBITDA — year on year
DKK thousandsKey figures
Annual report 2024| Revenue | 20.4M DKK | -60% |
| EBITDA | 2.4M DKK | -47% |
| Net profit | 0.9M DKK | -5% |
| Total assets | 26.1M DKK | -43% |
| Equity | 4.2M DKK | +28% |
| Employees | — | — |
Company information
Legal name
MTH Projekt 23 ApS
CVR number
39723859
Legal form
Anpartsselskab
NACE code
Founded
11 July 2018 · 8 years
Share capital
DKK 50,000
Employees
—
VAT registered
Yes
Audit selected
No
Last report
2024-12-31
Financial year
January – December
Signatory rights
Selskabet tegnes af to direktører i forening.
Address
Knud Højgaards Vej 7, 2860 Søborg
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Financial development
In its most recent annual report (2024), MTH Projekt 23 ApS reported revenue of DKK 20.4m, a decrease of 60% on the year before. The figures on this page draw on 5 annual filings covering 2020 to 2024. The bottom line showed a net profit of DKK 911.3k, and the EBITDA margin stood at 11.8%.
At the end of 2024, equity financed 15.9% of the balance sheet, and current assets covered short-term debt 1.2 times.
Financials
Revenue
DKK millionsEBITDA
DKK thousandsIncome statement
DKK thousands| Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenue | 20,408 | 50,967 | 36,605 | — | — |
| Staff expenses | -0 | -0 | -0 | -0 | -0 |
| EBITDA | 2,401 | 4,525 | 2,908 | -13 | -28 |
| Depreciation & amort. | -0 | -0 | -0 | -0 | -0 |
| EBIT | 2,401 | 4,525 | 2,908 | -13 | -28 |
| Net financials | -1,233 | -3,292 | -1,013 | -334 | -122 |
| Profit before tax | 1,168 | 1,233 | 1,895 | -414 | -150 |
| Tax | 257 | 271 | 403 | -111 | -0 |
| Net profit | 911 | 962 | 1,492 | -303 | -150 |
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Balance sheet
DKK thousands| Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Total assets | 26,090 | 45,386 | 111,630 | 19,600 | 18,115 |
| Equity | 4,156 | 3,244 | 2,282 | 790 | 393 |
| Long-term debt | 0 | 3,322 | 0 | 0 | 0 |
| Short-term debt | 21,238 | 38,820 | 109,348 | 18,810 | 17,722 |
| Total debt | 21,238 | 42,142 | 109,348 | 18,810 | 17,722 |
Financial ratios
5-year trendEBITDA margin
11.8 %
20202024
Equity ratio
15.9 %
WeakAmong the 40% lowest rated companies in the industry
20202024
Return on equity
21.9 %
StrongAmong the 30% highest rated companies in the industry
20202024
Net profit margin
4.5 %
WeakAmong the 40% lowest rated companies in the industry
20202024
Asset turnover
0.78×
Very strongAmong the 10% highest rated companies in the industry
20202024
Debt / equity
5.28×
WeakAmong the 30% lowest rated companies in the industry
20202024
Sector performance
28 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginVery weak
Among the 20% lowest rated companies in the industry
The gross result as a share of revenue — how much of the revenue is left after variable costs to cover the company's fixed costs.
Operating marginWeak
Among the 30% lowest rated companies in the industry
EBIT as a share of revenue — the share of revenue remaining as earnings once all operating costs are covered. A key measure of earning power.
Net profit marginWeak
Among the 40% lowest rated companies in the industry
The profit for the year as a share of revenue — the company's ability to turn revenue into profit.
Return on equity (ROE)Strong
Among the 30% highest rated companies in the industry
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on assets (ROA)Strong
Among the 40% highest rated companies in the industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Return on net assets (RONA)Strong
Among the 30% highest rated companies in the industry
Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.
Basic earning power (BEP)Very strong
Among the 20% highest rated companies in the industry
EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.
Capacity ratioVery strong
Among the 20% highest rated companies in the industry
Shows how strongly fixed costs weigh on the gross result — a high ratio means fixed costs take only a small bite out of the earnings from basic operations.
Liquidity
Current ratioStrong
Among the 40% highest rated companies in the industry
Current assets relative to short-term debt — the ability to settle short-term obligations with current assets alone. Around 150% is considered satisfactory from a credit perspective.
Quick ratioWeak
Among the 40% lowest rated companies in the industry
Current assets excluding inventory relative to short-term debt — whether the most liquid assets alone can cover the short-term obligations. A value of 1 or above signals a healthy liquidity position.
Cash ratioVery weak
Among the 20% lowest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityVery weak
Among the 10% lowest rated companies in the industry
Current assets relative to equity — an indicator of the balance-sheet structure and of the company's short- and long-term financing. The healthy level is highly industry-dependent.
Fixed assets to long-term capitalVery strong
Among the 20% highest rated companies in the industry
Fixed assets relative to long-term capital (equity plus long-term liabilities). Below 100% means the long-term capital finances more than just the fixed assets — a healthier liquidity position.
Cash conversion ratioVery strong
Among the 20% highest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioWeak
Among the 40% lowest rated companies in the industry
Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.
Debt ratioWeak
Among the 40% lowest rated companies in the industry
Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.
Debt to equityWeak
Among the 30% lowest rated companies in the industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityWeak
Among the 30% lowest rated companies in the industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtAverage
Around the average of companies in the same industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtStrong
Among the 40% highest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageAverage
Around the average of companies in the same industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtWeak
Among the 30% lowest rated companies in the industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginAverage
Around the average of companies in the same industry
The return on assets minus the interest rate on debt. Positive means the company benefits from operating with debt; negative means the debt makes it worse off.
Efficiency & development
Asset turnoverVery strong
Among the 10% highest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Inventory turnoverStrong
Among the 40% highest rated companies in the industry
Revenue relative to inventory — how many times a year the inventory is sold and replaced. A low value can indicate weak sales or excess inventory.
Equity to contributed capitalStrong
Among the 30% highest rated companies in the industry
Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.
One-year change in equityVery strong
Among the 20% highest rated companies in the industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtVery strong
Among the 10% highest rated companies in the industry
The size of this year's increase or decrease in the company's debt.
Annual reports & filings
- Annual report 2024Filed via CVR / Virk · Period 2024-01-01 – 2024-12-31
- Annual report 2023Filed via CVR / Virk · Period 2023-01-01 – 2023-12-31
- Annual report 2022Filed via CVR / Virk · Period 2022-01-01 – 2022-12-31
- Annual report 2021Filed via CVR / Virk · Period 2021-01-01 – 2021-12-31
- Annual report 2020Filed via CVR / Virk · Period 2020-01-01 – 2020-12-31
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|
Former (11)
HB Management | Management | 2025 – 2026 |
EM Management | Management | 2018 – 2019 |
AH Management | Management | 2018 – 2019 |
MS Management | Management | 2019 – 2021 |
TB Management | Management | 2018 – 2018 |
EN Management | Management | 2021 – 2022 |
JP Management | Management | 2025 – 2026 |
JH Management | Management | 2021 – 2025 |
JE Management | Management | 2018 – 2018 |
MB Management | Management | 2022 – 2025 |
MH Management | Management | 2019 – 2021 |
Board of directors
Non-executive oversightNo data on file.
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 100% | 100% | 2021 | |
| Company | 100% | 100% | 2018 |
Beneficial ownership (UBO) data access is restricted in Denmark as of September 2025 per the EU 6th AML Directive. Learn more.
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Related companies
Company hierarchy
MT Højgaard Property Development A/S
MTH Projekt 23 ApS (this company)Board network connections
Board members of MTH Projekt 23 ApS also hold positions in 49 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Morten Hansen | Management | 19 companiesMany roles |
| Hoang Bao Pedersen-Nguyen | Management | 8 companiesMany roles |
| Johnny Palle Sørensen | Management | 5 companies |
| Jørgen Enegaard Nicolajsen | Management | 5 companies |
| Egil Mølsted Madsen | Management | 4 companies |
| Martin Stig Solberg | Management | 4 companies |
| Jonas Hersøe Sørensen | Management | 2 companies |
| Mads Bøgelund Lauritzen | Management | 2 companies |
Frequently asked questions
What is the CVR number of MTH Projekt 23 ApS?
MTH Projekt 23 ApS is registered with CVR / Virk under CVR 39723859.
What is the revenue of MTH Projekt 23 ApS?
MTH Projekt 23 ApS reported revenue of DKK 20.4m in 2024.
Where is MTH Projekt 23 ApS headquartered?
MTH Projekt 23 ApS's registered address is Knud Højgaards Vej 7.