Management Report 2025
The foundation’s most important activities
The East Asiatic Company Charitable Foundation (the Foundation) is an independent, self-governing institution established by A/S Det Østasiatiske Kompagni (ØK) in June 1988. The Foundation is headquartered at Asia House, Indiakaj 16, 2100 Copenhagen Ø. Asia House was built in connection with the establishment of ØK in 1897 and served as the Company’s headquarters until 1907.
The Foundation’s activities are primarily carried out through Asia House, which serves as the Foundation’s operational platform.
The purpose of the foundation
The Foundation’s purpose is, through financial support or by utilizing Asia House, to contribute to maintaining, strengthening, and developing relations between Denmark and the Asian countries where EAC’s historical efforts and commercial engagement have been of particular significance. The Foundation also aims to preserve EAC’s historical legacy and disseminate knowledge of the company’s business history.
The Foundation’s grant policy
The Foundation’s objectives are primarily realized through activities and projects organized and carried out by Asia House, as well as through financial support for initiatives that support the Foundation’s objectives and are developed in collaboration with the Foundation’s secretariat and external partners.
Main activities
The purpose of the EAC Foundation is to create networks and relations between Denmark and Asia, establish dialogue, and create new contacts.
In 2025, Asia House launched a new youth initiative in the form of a masterclass concept aimed at high schools and vocational schools. Over the course of the year, 16 masterclasses were held with more than 900 young participants. The initiative was supported by the Orient Foundation with 1 million DKK, and in November 2025, Asia House received a commitment for an additional 3.6 million DKK for a three-year extension of the program. In the first half of 2025, the SPACES initiative held a two-day conference attended by 22 Danish and Asian foundations. The conference was held with financial support from the Grundfos Foundation. SPACES also participated as an official part of the program at AVPN’s annual foundation conference in Hong Kong in September 2025. NAVA completed its final year with a grant from the Danish Industry Foundation and participated in 2025 as a keynote speaker at a number of international tech conferences. Furthermore, in 2025, NAVA entered into a consulting agreement with the Japanese organization JETRO with a contract value of DKK 100,000.
In 2025, a total of 63 events were held at Asia House. The 3 Days of Design event accounted for a significant portion of the year’s total event revenue. Culture Night was also held in 2025 and attracted over 1,100 visitors.
In 2025, Asia House was featured in the Danish media through, among other things, a profile interview in Børsen, coverage in relevant industry media, participation in podcasts, and news posts on LinkedIn.
As of February 1, 2025, EAC House at Indiakaj 18 was leased to the Danish company ByAcre. With the signing of the contract, the property is expected to be fully leased for a number of years.
Management
After nine years as director of Asia House and the EAC Foundation, Susanne Rumohr Hækkerup stepped down from her position in 2025. Following a recruitment process in the first half of 2025, Dewi Dylander was appointed as the new CEO, effective September 1, 2025.
In 2025, a new three-year strategy for the ØK Foundation was also approved.
The strategy of the EAC Foundation and Asia House is an active response to the new reality. Our ambition is not merely to follow developments, but to help shape them and take on agendas that would otherwise not be addressed. In this sense, Asia House serves as the EAC Foundation’s central platform and strategic flagship – a hub for knowledge, learning, and partnership where ideas are translated into action and where ties between Denmark and Asia are strengthened through partnerships across the business community, foundations, educational institutions, and public sector actors.
Financial Conditions
The Foundation’s income derives primarily from returns on asset management, the leasing of the Foundation’s properties, and activities through Asia House. The Foundation no longer receives capital contributions from the founder.
The 2025 fiscal year was characterized by negative capital growth, primarily due to the performance of the Foundation’s holdings of Novo Nordisk shares. At the board meeting in December 2025, a new investment strategy was adopted, which is expected to contribute to improved capital growth in 2026.
Income Statement
Asia House’s net revenue, consisting of income from events and membership fees as well as project grants, totaled 3,513,000 DKK for 2025, compared to 3,190,000 DKK for 2024.
Project grants are recognized in net revenue for the year once the conditions attached to the grants are met and in line with the recognition of the costs that the grants are intended to offset; they therefore vary from year to year.
Total external costs, excluding project costs, were on par with 2024, amounting to DKK 2,795,000 (2024: DKK 3,107,000).
Personnel costs are on par with 2024, as they amount to DKK 4,405,000 in 2025 compared to DKK 4,254,000 in 2024.
Other financial income fell significantly from DKK 5,397,000 in 2024 to DKK 3,627,000 in 2025, combined with a significant increase in Other financial expenses from DKK 1,843,000 in 2024 to DKK 7,964,000 in 2025.
The total net effect of financial items thus amounts to a net expense of DKK 4,337,000 in 2025 compared to net income of DKK 3,554,000 in 2024 and is attributable to significant unrealized losses on shares in 2025.
The result for the year is a loss of DKK 8,233,000 compared to a profit of DKK 956,000 in 2024. The result for the year is primarily influenced by the net effect of financial items.
The Board of Directors considers the result for the year to be unsatisfactory. The result has prompted an adjustment to the company’s investment strategy for 2026.
Board Remuneration
The Foundation follows the recommendation that members of the board of directors of commercial foundations be remunerated with a fixed fee. The Foundation also follows the recommendation that the annual financial statements include information on the total remuneration each board member receives from the Foundation. Furthermore, information is provided regarding any other remuneration that board members receive for performing tasks for the Foundation.
Expected Development
Based on the adopted strategy and revised investment policy, the Fund’s activities and financial performance in 2026 are expected to be stable, with a focus on consolidating existing initiatives and gradually improving the capital base.
- Operations and activities at Asia House
- Leasing of the property Indiakaj 20
- The Fund’s financial fixed assets amounted to DKK 68,029,000 at the end of 2025, distributed as 69% in bonds, 20% in equities, and 11% in tactical allocation. Going forward, the ØK Fund’s asset allocation will be based on 50% invested in bonds and 50% in equities. The Fund’s overall performance is therefore closely linked to developments in the financial markets
Events after the end of the financial year
No events have been identified after the end of the fiscal year that affect the income statement, equity, or balance sheet for the fiscal year ended December 31, 2025.
Foundation Governance
The Foundation follows the recommendations for ‘good foundation management’, and reference is made to the completed form for a statutory report on good fund management, cf. §77a of the Accounting Act, which is available on the Foundation’s website (www.eacfoundation.dk/god-fondsledelse/) (in Danish).