Annual Report 2015

for

Statens Museum for Kunst

Table of contents Overview of tables, notes, and appendices ...... 3 1. Signatures to the full financial statements ...... 4 2. Report ...... 5 2.1. Company presentation ...... 5 2.2. Scope of activity ...... 5 2.3. Results in 2015 ...... 6 2.3.1. Academic results in 2015 ...... 6 2.3.2. Financial results for 2014 ...... 8 2.4. Tasks and resources ...... 10 2.4.1. Tasks and resources: A schematic overview ...... 10 2.4.2. Tasks and resources: Additional detail ...... 11 2.5. Target reporting ...... 12 2.5.1 Target reporting, part one: Schematic outline ...... 12 2.5.2. Target reporting: Detailed analyses and assessments ...... 14 2.5.2.1. Making our cultural heritage accessible and relatable ...... 14 2.5.2.2. Conservation ...... 18 2.5.2.3. Research ...... 19 2.6. Projections for the year(s) ahead ...... 21 3. Financial statements ...... 23 3.1. Accounting policies ...... 23 3.2. Income statement ...... 23 3.3. Balance sheet ...... 25 3.4. Statement of changes in equity...... 27 3.5. Liquidity scheme and loan facility ...... 28 3.6. Follow-up on payroll cap ...... 28 3.7. Appropriation accounts ...... 29 4. Appendices to the Annual Report ...... 31

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Overview of tables, notes, and appendices

Report and target reporting Table 1: Overall activity Table 2: Key figures Table 3: Key figures by product/task Table 4: Key figures for main activities Table 5: Target report

Financial statement tables Table 6: Income statement Table 7: Allocation of profit/loss Table 8: Balance sheet Table 9: Statement of changes in equity Table 10: Utilisation of loan facility Table 11: Follow-up on payroll cap Table 12: Appropriation accounts

Mandatory notes Note 1: Intangible assets Note 2: Property, plant and equipment Note 3: Provisions

Mandatory appendices Appendix 1: Overview of fee schemes Appendix 2a: Grant-funded research activities (subsidiary account 95) Appendix 2b: Other grant-funded activities (subsidiary account 97) Appendix 2C: Parkmuseerne (subsidiary account 98) Appendix 3: Staff turnover

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1. Signatures to the full financial statements

Scope of the Annual Report The Annual Report pertains to the main accounts of the Appropriation Act for which Statens Museum for Kunst 63310417 holds responsibility: 21.33.21. Statens Museum for Kunst (driftbev.), including the financial statements and information to be supplied to the Audit of the State Accounts in connection with the 2015 appropriation audit

Signatures We, the undersigned, hereby affirm: 1. That the annual report is true and accurate, i.e. that the annual report does not contain significant errors or omissions and provides adequate information on performance targets and target reporting. 2. That the dispositions included in the financial statements are in accordance with relevant appropriations, acts, and other stipulations of the law and in accordance with agreements entered into and customary practice. 3. That procedures have been established to ensure financially viable administration and operation of the funds and institutions covered by the Annual Report.

Copenhagen, March 2016 Copenhagen, March 2016

Signature Signature

______Director Mikkel Bogh Permanent Secretary Marie Hansen

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2. Report

2.1. Company presentation Statens Museum for Kunst (SMK) is the National Gallery of Denmark and Denmark’s primary museum for the visual arts. The museum is a government institution under the auspices of the Danish Ministry of Culture and is operated pursuant to the Danish Museum Act, cf. Act No. 358 of 8 April 2014. The objective of the museum is to build and maintain collections of Danish and foreign art, primarily art from Western culture from the 14th century to the present. This task is accomplished through the collection, registration, and preservation of the museum collections, and through research and interpretation & learning initiatives pertaining thereto.

The museum has entered into a performance contract with the Danish Ministry of Culture for the period 2014-2017. This annual report constitutes the financial statements pertaining to the Appropriation Act account 21.33.21 Statens Museum for Kunst (operating appropriation)

Mission As Denmark’s premier museum of art, SMK takes art as its starting point in its work to support and strengthen a more creative and reflective society that values its history and cherishes difference.

Vision In order to stay relevant to society and individuals, SMK will carry out a range of initiatives that redefine the public image and expectations of SMK in particular and of museums as social agents in general.

2.2. Scope of activity Table 1: Total activity (DKK million) Appropriation Financial statement Drift Expenses 95.4 123.6 Income 13.2 41.0

The financial accounts include subsidiary account 10 (general operation), subsidiary account 40 (Vestindisk Pakhus) to total expenses of DKK 98.1 million and income of DKK 15.5 million; subsidiary account 95 (Grant-funded research activities) to a value of DKK 5.3 million; subsidiary

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account 97 (Other grant-funded activities) to a value of DKK 17.9 million, and subsidiary account 98 (Parkmuseerne) to a value of DKK 2.3 million 2.3. Results in 2015 As is stated below, SMK’s academic results in 2015 are deemed satisfactory, encompassing significant results within the fields of research, interpretation & learning, and conservation.

The financial results are also regarded as satisfactory given that the profit/loss corresponds to the budgeted results.

Thus, the overall results for 2015 are deemed satisfactory

2.3.1. Academic results in 2015 SMK’s brand essence is Art provides perspective, and this is supported by four main values: Generous, inquisitive, knowledgeable, and connected. Taking this point of departure, the museum continually wishes to open itself up to wider audiences, making its works and knowledge easily accessible and providing a welcoming social space. This is an ongoing endeavour, and the ambition will continue to guide our work in the years to come. A concrete sign suggesting that the museum is heading in the right direction comes from its record- breaking attendance figures: a total of 451,195 visitors visited the museum’s collections and special exhibitions in 2015. The two major, research-based special exhibitions What’s happening? and Eckersberg – A Beautiful Lie spanned very diverse spectrums. The former presented extensive new knowledge about experimental art from the mid-1960s up until the mid-1970s on the basis of year-long research efforts, whereas the latter aimed to provide an updated status of our knowledge of one of the main father figures in Danish art history and his significance. Both exhibitions rested firmly on interdisciplinary collaboration between the fields of art history, interpretation & learning, and conservation, and the results were relevant, topical and firmly professional exhibitions that attracted a great deal of praise from critics and visitors alike. It is also pleasant to note that Eckersberg is also deemed relevant to international audiences today: in 2016 the exhibition will be shown in Hamburg and Paris.

The research conducted at SMK, and the efforts made to present that research, constantly strives to produce and make available new information and insights about the museum’s extensive collections and about the artists found in the collections. Being the primary resource for knowledge about Danish and foreign art in Denmark, the museum’s research must be based on updated information and a will to critical reflection that extends to all professional disciplines and key collection areas. Only in this way can SMK offer research-based interpretation & learning activities, conservation work, consultancy services, and collecting activities that meet the expectations held of a 21st century national gallery.

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This year’s two exhibitions based on works from the Royal Collection of Graphic Arts are good examples of how the presentation and dissemination of research is a main priority for SMK. Rising from Darkness was the title of an exhibition about Danish fine art prints in the shadow of the Cold War, based on a recently concluded PhD project, whereas the exhibition Might and Glory brought together the results of in-depth research within the fields of art history and conservation technology. It was preceded by a long-term restoration project that included a workshop exhibition which involved users directly in the restoration of the Albrecht Dürer’s spectacular The Arch of Honour of Maximilian I.

SMK aims to take a leading position with art interpretation & learning activities aimed at children and young people. With its special exhibition for children, What Makes a Home?, accompanied by education sessions tailored to the 6 to 12 age bracket, the museum wanted to promote reflection on all the things that make a home, what home feels like and how the concept of home can be unfolded in drawings, paintings, video art and installations across art history. The efforts were successful, not least thanks to interviews with and drawings provided by approximately 100 children. This facilitated peer-to-peer communication where children spoke directly to children, which acted as an excellent starting point for conversations. Many of the works in the exhibition focused on the home as house, and in this regard it was important to remain aware of the complexities of the concept of home: the codes of the home, home as a feeling, and how our perceptions of home and “homeliness” can vary depending on our cultural and social contexts. The exhibition aimed to activate many different senses. For example, it included “sensory shelves” – a shelving unit filled with scents, sounds and things that visitors could feel. The selection of art and activities was also made to include elements that stimulated different senses: sight, hearing, smell and touch.

SMK also wishes to give its interpretation & learning function wide-ranging social impact. Hence, SMK has worked with a range of partners, including Thorvaldsens Museum, on using art as the starting point for learning languages and for promoting employability and integration. Over the course of the last three years the museum has collaborated with language schools in order to explore how the SMK can play a part when refugees, immigrants and foreigners living in Denmark work to learn Danish and to find their way into their new country. Assessments and international research shows that museums and art form a relevant and high-impact setting for promoting language learning, employability and integration. In 2015 SMK won The European Language Label award for these initiatives. The award is given out annually by the EU and the Ministry for Higher Education and Science.

Within the field of art conservation, SMK has worked on specific conservation tasks while also ensuring the exchange of information with peers at other institutions. CATS (Centre for Art

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Technological Studies and Conservation), a research centre that cuts across several institutions, with the National Museum of Denmark and KADK as partners, has maintained its high levels of activity in 2015, carrying out a range of sophisticated scientific analyses for SMK and external partners and research projects.

SMK also acted on the international art scene in 2015. The American Friends of SMK (AFSMK) succeeded in raising funds for presenting selected Hammershøi works in New York. The resulting exhibition, Painting Tranquillity, attracted a great deal of attention and marked the culmination of several years of friendraising and fundraising in the USA. Using this exhibition as a springboard, SMK will continue its work to raise awareness of Danish art in the USA, to promote cultural exchanges between the two countries and ensure support for SMK’s work in general.

The museum’s co-operation with The Hirschsprung Collection was expanded and formalised in 2015. The scope of the co-operation now extends beyond academic collaboration to also include certain administrative tasks pertaining to salaries and finance. Parts of the co-operation agreement entered into force on 1 September 2015 – the remaining aspects entered into force on 1 January 2016.

Finally, the museum’s co-operation with the other five partners in the Parkmuseerne initiative has been further consolidated, winning greater awareness among Copenhagen citizens. Ten talking trees recounting stories from Kongens Have and the six Parkmuseerne partners received approximately 40,000 playbacks over the course of the summer.

Overall, the SMK is deemed to have offered classic and innovative museum experiences alike in 2015. One of the key aspects of the museum’s overall programme continued to be the SMK Fridays events: on selected Friday nights throughout the year they have attracted almost 30,000 users, presenting a wealth of new art experiences and new ways of showcasing art. The vision of ensuring relevance to audiences and of launching initiatives that push back the boundaries of the public’s expectations of SMK and of cultural institutions as a whole has been duly pursued. As is evident from Section 2.5.1., the museum is also deemed to have fully met all the targets set down in the framework agreement/performance contract, meaning that the professional/academic results achieved at the museum in 2015 are deemed satisfactory.

2.3.2. Financial results for 2014 The SMK left 2015 with an overspend of DKK 0.4 million compared to the appropriation recognised as income. This extra expenditure was incorporated into the budget for 2015 and that all planned activities were carried out in spite of constrictions on the museum’s dispositions. The museum suffered from an unexpectedly large reduction in its appropriation, to a value of DKK 0.4 million, as

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a result of the practical implementation of the 9th stage of the Danish state’s procurement programme. The reduction was unexpected because consumption data for the subsidiary accounts 95, 97 and 98 were also included in the calculations. In light of these facts, the result is deemed satisfactory. The deferred profits from previous years is depreciated to the value of the overspend, meaning that the museum’s total savings have now been spent. The table below lists the key economic figures and indicators for the museum.

Table 2: Key figures DKK million, current prices 2013 2014 2015 Income statement Ordinary operating income -127.4 -128.8 -117.2 - Of which appropriation recognised as income -79.6 -81.7 -82.2 - Of which other/external income -47.8 -47.1 -35.0 Ordinary operating expenses 132.8 134.6 122.7 - Of which staff costs (wages and salaries, etc.) 50.8 51.5 52.7 - Of which depreciation 3.1 3.9 3.2 - Of which other costs 78.1 78.5 65.8 Profit/loss on ordinary activities 5.3 5.8 5.4 Profit/loss before financials 1.3 -0.7 -0.4 Net profit/loss for the year 2.3 0.3 0.4 Balance Non-current assets 20.8 20.2 34.4 Current assets 15.1 17.4 11.3 Equity 2.2 1.9 1.6 Long-term debt 17.9 19.4 33.1 Short-term debt 15.3 15.8 10.1 Loan facility 29.3 29.3 29.3 Loan facility utilisation 19.2 18.7 16.2 Financial key figures Loan facility utilisation rate 65.7% 63.8% 55.3% Negative fluctuation rate -1.8% 25.6% 1.2% Profit rate -1.8% -0.2% -0.3% Appropriation rate 62.5% 63.4% 70.1% KPI – rating for follow-up on expenses Staff Man-year equivalents 116.9 120.0 121.6 Cost per man-year equivalent (DKK) 434,337 429,430 433,660 Wage ratio 39.8% 40.0% 45.0% Payroll cap 47.3 45.3 45.4 Consumption of wages 42.8 42.0 44.2 *Consumption of wages within payroll cap

As Table 2 demonstrates, income and expenses in 2014 are somewhat lower than in 2014. Part of the reason is that the renovation of the museum’s main staircase/entrance (made possible by a

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major renovation) was concluded in 2014, involving paid expenses of DKK 4.9 million covered by the donation. This fact and overall lower activity levels – SMK staged two exhibitions less in 2015 than in previous years – explains the drop in operating expenses of DKK 11.9 million. The number of man-year equivalents has gone up marginally, primarily as a result of the museum’s greater focus on fundraising.

2.4. Tasks and resources

2.4.1. Tasks and resources: A schematic overview The museum’s core areas of responsibility are concerned with making accessible, presenting, safeguarding and carrying out research on cultural heritage and the museum’s collections. Table 3 below shows how resources are allocated to the museum’s main areas.

Table 3: Key figures by product/task DKK million, current prices Appropriation Other Expenses Share in recognised as income profit/loss income for 2015 General management and -35.4 -8.5 52.7 39% administration Research -9.0 -6.8 15.8 13% Conservation -6.9 -3.2 10.0 8% Making art/cultural heritage -30.8 -22.5 44.9 40% available to the public / interpretation & learning I alt -82.2 -40.9 123.5 100% *Estimate

The appropriation recognised as income corresponds to the net appropriation of DKK 81.7 million and additional appropriations made over the course of 2015 to a total value of DKK 0.5 million. In addition to this, a further DKK 0.4 million of the deferred profits from previous years was spent. As the table shows, there are no major differences between the original allocation of the appropriation funds and the actual, realised net expenses associated with the various activities

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2.4.2. Tasks and resources: Additional detail Tabel 4: Centrale aktivitetsoplysninger

2012 2013 2014 B2015 2015 Antal åbningstimer 2.354 2.337 2.444 2.132 2.382 Besøg på SMK (min.) 429.692 355.835 378.195 425.000 451.195 Digitale besøg/visninger inkl. bruger-indraget visninger - - 32.000.000 1.800.000 36.073.713 Heraf på smk.dk (alle besøg) 703.573 627.245 724.736 650.000 789.020 Andel besøgende i alderen 14-29 år i procent 22 34 37 20 35 Antal særudstillinger (min.) 9 3 8 6 6

Antal klasser i Skoletjenesten (min.) 1.782 1.720 2.130 1.300 1.861 Antal undervisningstilbud (min.) 50 50 50 45 47 Antal skoler med SMK som læringsressource (min.) - - 5 4 5

Brugerinddragende projekter årligt (min.) - - 4 2 2 Antal formidlingseksperimenter i udstillinger (min.) - - 4 1 3 Antal væsentlige salændringer i faste samlinger (min.) - - 5 2 5 Antal uddeponeringer på danske kunstmuseer (min.) - - 219 240 240 Antal færdigkonserverede og klargjorte værker (min.) 776 185 147 165 232 Tilvækst af antal elektronisk registrerede værker (min.) 5.117 3.510 5.666 3.500 4.099 Publicering af fælles digitalt kunstmusealt forskningstidsskrift - - - 6 2 Digitaliserede værker til fri brug og viderebearbejdning - - - - 25.000 Antal igangværende forskningsprojekter (min.) 55 60 63 45 73

Antal afsluttede forskningsprojekter (min.) 22 38 25 20 27 Andel forskningspublikationer som er fagfællebedømt 0% 0% 100% 100% 100% Table 4: Key figures for main activities Number of opening hours

Number of visits to SMK (min.)

Digital visits/views, including user-involvement views

Of which at smk.dk (all visits)

Number of visitors aged 14–29, in per cent

Number of special exhibitions (min.)

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Number of classes served by Skoletjenesten/Education Centre (min.)

Number of teaching/learning activities offered (min.)

Number of schools using SMK as a learning resource (min.)

User-involvement projects per year (min.)

Number of interpretation & learning experiments in exhibitions (min.)

Number of significant changes to displays within the permanent collections (min.)

Number of loans made to Danish art museums (min.)

Conserved/restored works/objects, completed tasks (min.)

Works/objects recorded electronically (min.)

Publication of joint digital museum research journal

Digitised works made available for unrestricted usage and processing

Ongoing research projects (min.)

Completed research projects (min.)

Peer-reviewed research publications

Table 4 illustrates compliance with those target figures from the framework agreement/performance contract that were relevant in 2015. Almost all targets were reached; this will be commented on in greater detail in section 2.5.2. Target reporting.

2.5. Target reporting

2.5.1 Target reporting, part one: Schematic outline Table 5: Target report, 2015

Task/main objective Target Result in 2015

Inspiring creativity by contributing to unfolding the talents and abilities of Making art/our cultural heritage accessible children, young people and adults for Target met and relatable (interpretation & learning) creative observation, reflection and expression.

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Increasing access to, awareness of and Target met use of our art/cultural heritage legacy.

As Denmark’s premier museum of art, SMK will retain and emphasise its status as a laboratory for exhibition design by entering into partnerships and Target met collaborative projects where knowledge and lessons learnt are shared with other museums and institutions

Raising awareness of and activating the SMK collections in familiar as well as new Target met contexts

Task/main objective Target Result in 2015

Preserving art/our cultural heritage Retaining the scope and quality of its conservation work for all areas of the SMK collections Target met

Raising awareness of the vulnerability of our cultural heritage, e.g. through Target met activities via CATS

Task/main objective Target Result in 2015

Contributing to establishing Denmark as a leading European knowledge society by Research presenting and qualifying the research Target met conducted at SMK and Danish art museums in general.

Generating new insights and experiences based on strong professional insights and Target met on being relevant to individuals and the wider community.

As is shown in Table 5, all eight targets were fully met, meaning that the full set of targets have been met.

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2.5.2. Target reporting: Detailed analyses and assessments The following provides a more detailed description, analysis and assessment of the eight targets set down in the framework agreement/performance contract.

2.5.2.1. Making our cultural heritage accessible and relatable SMK wishes to inspire creativity by helping children, young people and adults to hone their talents and skill for creative observation, reflection and expression. In 2015 SMK carried out a number of partnerships where the museum’s education offerings and collections were inscribed in the curriculums of numerous Danish schools, thereby constituting an important resource for the schools’ work with interdisciplinary subjects such as innovation and entrepreneurship and in their work with diverse forms of teaching and Open School (Åben Skole) initiatives as required by the recent school reform in Denmark. The partnerships for 2015 have mainly involved primary schools (years 1 to 9), but have also included the museum’s regular partner, Gefion Gymnasium (an upper secondary school, teaching years 10 to 13). The museum is twinned with four classes from Gefion Gymnasium, who take part in a range of courses over the year, using the museum and its collections as an extra teaching space. The Kunstkatapult (Art Catapult) initiative is the museum’s longest-running partnership scheme. It consists of a course designed for 4th and 5th graders from primary school, involving five workshops conducted partly at the students’ school, partly at SMK. In 2015 SMK carried out a total of eighteen Kunstkatapult courses. Four of the schools involved (Øster Farimagsgade Skole, Øbro Fri Skole, Det Kgl. Vaisenhus, Absalon Skole in Roskilde) have officially embedded these courses in their annual curriculums. This means that the target of carrying out this initiative for four schools a year has been met.

User involvement features prominently in the museum’s interpretation & learning activities. In the spring of 2015, the museum and art pilots from the ULK Art Labs (Unges Laboratorier for Kunst) created three highly varied and excellent audio narratives about the Royal Cast Collection that will benefit other users of the collection. Visitors often feel a need to ‘understand’ or ‘grasp’ the museum before focusing on individual works or exhibitions. Audio narratives can help visitors overcome the initial barriers that may be associated with a museum visit.

Another example of user involvement involves decorating a drug consumption room in the Vesterbro district of Copenhagen. Here, ULK art pilots worked closely with users of that room to decorate the space with works available as unrestricted downloads from the SMK collections, thereby introducing art to the otherwise clinical atmosphere of the drug consumption room, which is intended as a safe space for users to take their drugs. The works from the SMK collections were chosen on the basis of the users’ own favourite places and memories. The objective was to create a mood that feels personal and intimate, prompting reflection that goes beyond the drugs themselves. The project resulted in three different scenes, each covering an entire wall. The

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scenes consist of a mix of fragments of classic works of art and of photographs referencing the drug users’ lives in Copenhagen.

Finally, the special exhibition for children What Makes a Home? was created on the basis of the active involvement of approximately 100 children whose drawings and observations were also incorporated in the exhibition itself. This means that the target of having two user-involvement projects a year has been met.

SMK wishes to increase access to, awareness of and use of our art/cultural heritage, for example by making digital images of even more works accessible for unrestricted download and use. In 2015, an extraordinary allocation of funds from the Danish Agency for Culture allowed the museum to continue digitising its collection. Having added a total of 4,099 digitised works, the target figure of 9,000 for the entirely framework agreement/performance contract period has been reached. However, it should be noted that in the absence of such special funds, digitised works will not be added at similarly rapid rates during the remainder of the framework agreement period.

One precondition for increasing awareness and usage of our national art heritage, in Denmark and internationally, is to have that heritage available in digital form online. In 2014 the SMK prepared and made public a new, highly liberal policy for the usage of the museum’s digitised works. All images of art works whose age place them in the public domain can be downloaded from the SMK website and used for any purpose; users do not have to ask permission or clear rights first. Around the end of 2015/beginning of 2016, the number of such images marked ‘Public Domain’ available from the museum website encompassed approximately 25,000 images of varying resolutions, 8,000 of them in high resolution making them suitable for most uses. Furthermore, 160 selected highlights are available as particularly high-resolution images (up to 500 MB). This means that the targets for electronically recorded works and digitised works in the public domain have been met only halfway through the framework agreement/performance contract period.

In 2015 SMK continued to attract a very high percentage – even in an international context – of users in the 14 to 29 age bracket. A total of 35% of visitors at the museum premised belonged to this demographic, thereby meeting the target of 20%.

In 2015 SMK attracted 451,195 visitors, a record-breaking number which ensured that the target was met. The museum notes that the permanent collections constitute an increasingly strong asset; attracting visitors to special exhibitions has proven increasingly difficult in recent years. In 2015, however, the Eckersberg exhibition made for a pleasant exception from this rule: a very large number of visitors wanted to see this central figure from Danish Golden Age art in a new perspective.

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Finally, the number of visits to the museum website and digital views has by far exceeded the targets set; this is partly due to general technological and media-related developments, and partly due to the fact that SMK has successfully realised its intention to increase interactivity by having users post photographs and footage from the museum on a range of digital platforms. This means that SMK is not restricted to only fulfil the role as sender; the museum also supplies content for peer-to-peer communication amongst users. Given these facts, the target figure for digital views will be revised for the remainder of the current framework agreement period.

As Denmark’s premier museum of art, the SMK will retain and raise the profile of the SMK’s status as a laboratory for exhibition design by entering into partnerships and collaborative projects where knowledge and lessons learnt are shared with other museums and institutions. The exhibition Might and Glory centred on a single monumental artwork: Dürer’s vast woodcut The Arch of Honour of Maximilian I from 1515. Here, the interpretation & learning initiatives comprised two contrasting initiatives: One was a long plaque mounted in front of the work, offering a general overview and overall deliberations on the work, while the other was a guide to the teeming wealth of detail in the work.

A perspective room located in the exhibition Eckersberg – A Beautiful Lie was an experimental feature that gave visitors the opportunity to step inside one of the scenes painted by Eckersberg in order to discover what perspective he used. Here, museum users were able to physically experience the concept of perspective, which is an essential aspect of Eckersberg’s work. The room was envisioned entirely on the basis of Eckersberg’s practice and interest in optical phenomena. Many visitors shared their experience in the perspective room with their peers, and many used the obvious ‘selfie opportunity’ it offered.

Finally, the exhibition Rising from Darkness opted out of including conventional wall texts in favour of longer quotes dating from the 1950s. The objective was to make that era’s atmosphere and voice more immediately present in the exhibition. The quotes were also linked to a timeline comprising audio content, pictures and film footage; here several of the quotes were addressed in greater detail. The responses suggested that the Twitter-like format appealed to younger museum users.

In 2015 the collaborative research project Bæredygtighedens Prisme/The Prism of Sustainability, carried out in co-operation with Trapholt, The Royal Danish Library and Medical Museion, was concluded with a presentation and workshop at an ODM seminar. Four leading scholars of museum interpretation & learning studied four cases at the participating museums. In addition to the seminar, the results have been presented in international journals.

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This is to say that the target of realising at least one interpretation & learning experiment in exhibitions each year has been met.

Finally, SMK wishes to raise awareness of and activate its collections in familiar as well as new contexts. In 2015 the museum successfully increased the quantity of loans from the SMK collections to Danish museums. This was partly done through proactive work where other museums were introduced to specific works from the SMK collections that might be of particular interest to them. This means that the target of having 240 works out on loan in 2015 has been reached. Two cases of particular note include Skagens Museum, which received eight new works that will add further nuance and impact to the rehang of the Skagen painters following the expansion and renovation of the museum. Also, the Skovgaard Museum in Viborg received seven new works, including works by Niels and Joakim Skovgaard, which the museum finds will assist the overall presentation of the two artists.

In addition to this, SMK regularly makes major and minor changes to its presentations of the museum’s permanent collections, particularly as a result of loans to exhibitions at other institutions and internally. For example, the Hammershøi exhibition in New York and the Eckersberg exhibition at SMK necessitated rehangs of the rooms devoted to these two artists. 2015 also saw several strategic changes, of which three merit particular attention here:  As part of our efforts to vary our presentation of key artists and artist groups after 1960 the museum dedicated a large room to a presentation of the artist group Ny Abstraktion.  The museum’s large-scale exhibition What’s Happening? has prompted comprehensive revisions and adjustments to the presentation of 1960s and 1970s art.  In terms of contemporary art, 2015 saw a new presentation of Goodiepal – partly in the Sculpture Street and partly in the permanent collections.

Having completed five major changes to the permanent collection displays amply meets the target, which states that two such changes must be made each year.

Generally speaking, all targets set for interpretation & learning are deemed to have been met, and SMK has been able to set up and develop a wide range of collaborative efforts and partnerships. User involvement, interaction and curiosity are core values for the SMK, particularly within the field of interpretation & learning. User involvement through digital media, e.g. prompted by releasing digital works for creative processing, is one example of how the SMK supplies content, but does not monitor or control what happens from then on, allowing users to interact, exchange and develop the materials as they wish. Now, images released by SMK into the public domain can be found on a wide range of online platform – right from the Danish-based SkoleTube, where primary school students and teachers can find digital learning tools and share media productions and content, to large international players such as Google Art Project, Europeana and Wikipedia. On

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Wikipedia alone the museum’s images have generated approximately 20 million page views in 2015. Given the vast potential for expanding awareness and use of the collections via such digital platforms, SMK has launched co-operation with partners such as Dansk Wikipedia, Google Art Project and Europeana with a view to maximising the visibility and usability of the museum’s online resources.

2.5.2.2. Conservation In 2015 the museum has worked as planned to ensure the continued existence of the vast and varied cultural heritage found in the SMK collections – reflecting the target stating that SMK should retain the scope and quality of its conservation work for all areas of the SMK collections. The in-house assessment method for such work has been changed in order to ensure that full information concerning the conservation work done on individual works will be available in future. The number of fully conserved and prepared works is 232, a significantly larger figure than in previous years (147 in 2014), and a simple comparison of the two figures does not quite accurately reflect reality. In fact, the total conservation work effort has remained stable compared to previous years, and the target of 165 fully conserved and prepared works per year has been met.

In 2015 the museum’s conservation work focused on works to be presented in connection with the Eckersberg exhibition. The museum also intensified its work on preparing works for loans with state administration institutions and Danish museums.

The year 2015 saw the realisation of the museum’s planned major storage relocation, facilitating even better storage conditions and more efficient access to stored works.

In terms of its collecting activities, SMK has endeavoured to rethink its overall task as a national gallery by preparing sub-strategies for all collection areas. In 2015 the museum’s curators responsible for collection have prepared acquisition strategies aimed at the large foundations as well as new and more elaborate sub-strategies for all collection areas. This strategic work will continue in the years to come, focusing on discussions of what the museum’s role as a national gallery entails for collecting activities in an increasingly globalised world where the significance of national allegiance is shifting and debated. Greater attention will be paid to blind spots in the museum’s collections, for example as regards its representation of women artists and their impact within both older and modern art. Greater emphasis will also be put on acquisitions that shed light on artistic exchanges between Denmark and abroad. Previously, such efforts have focused on France and the other Nordic countries, but in the years to come the museum will put greater emphasis on the many links between Denmark and Germany and German art from the sixteenth century onwards.

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Another target set for the field of conservation is to raise awareness of the vulnerability of our cultural heritage, e.g. through activities via CATS (Centre for Art Technological Studies and Conservation). A donation from Ny Carsbergfondet (NCF) has enabled the museum to launch extensive conservation and restoration of J.S. Wahl’s large-scale painting The Royal Table of Charles VI, Holy Roman Emperor from 1741. The conservation is a gift from NCF to Her Majesty the Queen on the occasion of her 75th birthday. The work has taken place in an Open Studio, allowing museum visitors to watch and follow the complex, fascinating treatment and to engage the conservators in an ongoing dialogue.

In 2015 CATS carried out a number of sophisticated scientific analyses for SMK and external partners and research projects. For example, CATS is now an active contributor to the European IPERION_CH (www.iperionch.eu), and is the only Scandinavian cultural heritage analysis consortium to have that distinction. Over the next four years, the IPERION_CH project aims to support knowledge sharing within cultural heritage analysis and to fulfil the ambition of setting up as a permanent organ (ERIC) under the auspices of the EU. This work is supplemented by formal interdisciplinary and inter-institutional research initiatives in Denmark and abroad. Partners include a range of departments at the universities of Copenhagen, Amsterdam and Oslo, with the Helsinki Metropolia University of Applied Sciences, the Nationalmuseum in Stockholm, Sinebruckhof Museum, Nikuliste Museum in Tallinn and others.

Overall, SMK’s results for 2015 within the field of conservation are regarded as satisfactory and the targets have been met. A characteristic trait of the conservation efforts made at present is that the SMK not only carries out specific conservation and stabilisation work; the museum also builds new skills, competencies and knowledge which is – as part of SMK’s function as Denmark’s main museum of art – shared openly with the general public and with peers at museums and universities. In addition to this, the scientific work carried out by CATS creates results that lead to new insights into artists’ methods and individual works of art.

2.5.2.3. Research Regarding the target of contributing to establishing Denmark as a leading European knowledge society by presenting, raising the profile of and qualifying the research conducted at the SMK and Danish art museums in general the museum has carried out a range of activities. Pespective, a new digital journal for art museum studies, was launched in 2015. The two first articles were published in October: one was a “typical” text of a length corresponding to ten or twelve standard pages; the other was a much more extensive text that was approximately three or four times the length of standard journal texts. The two texts constituted a useful test of the journal’s design and workflow – and of the resources required to handle large contributions in terms of in-house editing resources and external resources in the form of translation and peer review. Delays in the development of the journal design and IT solution made it impossible to reach

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the target of at least six published articles in 2015, but the completion and submission of articles is proceeding as scheduled. By the end of 2015 some three or four texts are in the pipeline, and it is expected that the target of publishing at least six articles a year will be met during the course of 2016.

From 2014 onwards, SMK has employed a firmly fixed procedure for peer reviews of its in-house research publications, e.g. research-based exhibition catalogues. These procedures have been adhered to for all twelve publications created in 2015.

Research blossoms best in an environment where critical mass is achieved, prompting regular and ongoing exchanges and discussions between scholars across their different specific fields. Reflecting this, SMK has an established tradition for acting as a host institution for PhD fellows and postdoc scholars: they help raise the bar of in-house discussions and introduce new theories and positions to our academic setting. In 2015 two of the PhD fellows associated with the museum defended their doctoral dissertations in 2015, whereas two others submitted their dissertations and are expected to conduct their PhD defences during the first half of 2016. New PhD fellows are arriving, too: a donation from the Novo Nordisk Foundation has enabled SMK to attach two new PhD fellows to the museum in 2015. Given that two PhD research projects were completed in 2014, the target of having three or four completed projects for the period has been met.

Finally, the SMK wishes to generate new insights and experiences based on strong professional insights and on being relevant to individuals and the wider community. As a main museum and research institution under the auspices of the Danish Ministry of Culture, SMK has a particular obligation to carry out research with a broad outlook within Danish and international art. Art historical research will remain highly prioritised, but the museum also wishes to put greater emphasis on research within technical art history and to generate research and development projects within the fields of interpretation & learning and communication. Given this ambition it is pleasing to see that the museum continues to maintain high productivity and standards in terms of its concluded and ongoing research projects, and that the research projects cover a wide range of disciplines and professional fields. It is also positive to note that the number of peer-reviewed publications and contributions to conferences is on the rise, and that publications are made abroad as well as in Denmark. The number of ongoing research projects in 2015 is rather higher than expected: while 45 projects were expected, the end of 2015 actually saw the museum engaging in 73 current projects. These vary in scope and span a wide range of professional disciplines within the museum, primarily within art history and conservation technology. Some of the explanation behind this high number can be found in the fact that some projects within the field of conservation technology involves several contributors, with each individual’s contribution being registered as an independent sub-project. The target of completing 20 research project has also been med: by the end of 2015 a total of 27 projects had been

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completed, including several major year-long projects such as the research behind the exhibitions What’s happening?, Eckersberg and Might and Glory and two PhD projects within the fields of art history and interpretation & learning.

Summing up, the targets set for 2015 within the field of research have been met, and the subjects studied reflect the wide-ranging scope of the museum’s collections and its ambition of generating new knowledge and new insight within all its main fields of activity

2.6. Projections for the year(s) ahead After opening the new museum garden in front of the museum in 2014, SMK has enjoyed increased attention, use and visitor numbers. This increase can be mainly attributed to the long process of developing and communicating the museum’s brand, leading to greater overall awareness of SMK.

In the years to come SMK wishes to make more physical changes to the museum; these changes will support the overall SMK story and ensure that encounters with the museum (and at the museum) become experiences that are more consistent with and supportive of the SMK brand. The strategic objective of making the SMK a museum for everyone – for example, a museum that appeals to a wider demographic – serves as the basis for ongoing work to improve the ways in which the museum receives, services and communicates with visitors. As a specific example, the museum wishes to rethink the overall design and interior of the lobby area to ensure that the museum’s brand identity and the visitors’ first encounter with the museum’s art create a consistent experience that ensures good flow-through and that museums users are received in a professional manner; this will include giving visitors better access to information about the museum and inspiration for their visit.

The ambition to bring in new users at the museum and to make our shared art heritage accessible, relevant and useful to an increasing number of people will be at the heart of SMK’s communication work and interpretation & learning initiatives in the years to come. A new journal, Værk, created in collaboration between SMK and the Egmont publishing house, will reach more than 400,000 readers, thereby potentially meeting many new users. Readers will find historic and contemporary art alike presented in a journalistic manner within an aesthetically appealing framework. The museum also wishes to launch interpretation & learning projects that make creative use of the digitised parts of the collection, collaborating with housing associations and libraries to reach users across the nation – including users in areas that do not offer immediate or easy access to the national collections.

National and international collaboration within the museum’s fields of research will continue to be major priorities in the years to come. The museum has planned partnerships with universities in

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England and the Netherlands regarding studies on technical art history and museum interpretation & learning, and is currently planning art historical research and exhibition projects in collaboration with e.g. the national galleries of the other Nordic countries and with the Stedelijk Museum in Amsterdam. Where relevant, other art museums will the involved in these collaborative projects to the greatest extent possible. In the years to come the museum will put particular emphasis on exploring the relationships between Western and non-Western cultures. A revised acquisition strategy will mean that the collecting activities, particularly as regards contemporary art, can reflect current movements within the Western world’s issues concerning cultural and national identity.

The museum’s activities and ambitions must, however, be adapted to the reduced appropriations announced by the authorities. A number of cost-cutting measures, including downsizing in staff, were decided prior to the end of 2015 and will be implemented in 2016 and the years to come. The efforts to cut costs will also have clear consequences for users of the museum: the museum’s opening hours will be reduced by six hours a week, and the Royal Cast Collection will only be open during the Danish schools’ winter and autumn holidays and on special occasions.

As a result of the reduction in the museum’s appropriation over the course of the next four years, the museum will increase its efforts to generate more income and the scope of its foundation- funded research and interpretation & learning projects. A newly established corporate partnership programme will be expanded in scope in 2016 and onwards.

In 2015 the Danish national audit office, Rigrevisionen, carried out an IT audit of the museum software system Corpus at SMK. SMK continues its dialogue with Rigsrevisionen concerning their observations and recommendations, but it is expected that the Rigsrevisionen will reach the conclusion that overall, the museum’s IT security is unsatisfactory. SMK will of course take note of these observations and follow the recommendations to the greatest extent possible. Importantly, the Corpus software will be phased out, and SMK is expected to start using the new nationwide museum system SARA in 2017.

In terms of day-to-day operation it gives the museum great pleasure to note that in 2015 state funding to exchange the museum’s heading and climate control system was secured. This work can now commence, but it will have an impact on museum users and will require parts of the collection displays to shut down intermittently. Project schedules and exhibition plans will be carefully co-ordinated so that the museum will at all times have exciting and relevant offerings to all guests throughout the next two years. Having a new heating and climate control system in accordance with current and international standards will ensure safe foundations for the museum’s continued safeguarding and development of our shared cultural heritage for many years to come.

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3. Financial statements

3.1. Accounting policies The accounting policies applied are based on the accounting regulations and principles laid down by the Danish Agency for the Modernisation of Public Administration for expense accounting and appropriations. The annual report for 2015 has been prepared in accordance with the accounting principles laid down by the Danish Agency for the Modernisation of Public Administration. The principles applied correspond to those used for the 2014 Annual Report.

The SMK’s buildings in Sølvgade and Toldbodgade are not included in the financial statements; they are national property, which means that they do not fall within the scope of the cost-based financial statements

3.2. Income statement Table 6: Income statement DKK million, current prices Financial Financial Budget statements statements note: 2014 2015 2016 Ordinary operating income Appropriation recognised as income Appropriation -81.7 -82.2 -78.8 Amount spent of appropriations reserved from 0.0 0.0 0.0 preceding years Amount reserved of current year’s appropriations 0.0 0.0 0.0 Total appropriations recognised as income -81.7 -82.2 -78.8

Sale of goods and services -13.0 -10.4 -10.1 Allocated funds for own operation -33.2 -23.6 -18.5 Fees -0.9 -1.1 -1.2 Total ordinary operating income -128.8 -117.2 -108.6

Ordinary operating expenses Change in inventories 0.0 0.0 0.0 Consumption expenses Rent 0.7 0.9 0.7 Total consumption expenses 0.7 0.9 0.7 Staff expenses Wages and salaries 47.3 48.1 45.7 Other staff costs 0.1 0.2 0.0 Pension 7.1 7.3 7.7 Reimbursement of wages and salaries -2.9 -2.8 -2.7 Total staff expenses 51.5 52.7 50.7

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Depreciation, amortisation, and impairment 3.9 3.2 4.4 losses Other ordinary operating expenses 78.5 65.8 51.8 Total ordinary operating expenses 134.6 122.7 107.6

Profit/loss on ordinary activities 5.8 5.4 -1.0

Other operating items Other operating income -7.3 -5.8 0.0 Other operating expenses 0.9 0.0 0.0 Profit/loss before financials -0.7 -0.4 -1.0

Financials Financial income 0.0 0.0 0.0 Financial expenses 1.0 0.8 1.0 Profit/loss before extraordinary items 0.3 0.5 0.0

Extraordinary items Extraordinary income 0.0 -0.1 0.0 Extraordinary expenses 0.0 0.0 0.0 Net profit/loss for the year 0.3 0.4 0.0

As is demonstrated in Table 6, the museum left 2015 with a DKK 0.4 million overspend compared to the appropriation. In addition to the DKK 82.2 million appropriation, the income comprises allocations for own operation to the amount of DKK 23.6 million and operating income to the amount of DKK 10.4 million as well as other income to the amount of DKK 1.1 million. The total operating income comes to DKK 117.2 million, corresponding to a DKK 11.6 million decrease compared to 2014. The decrease is partly due to the fact that 2015 saw a lower proportion of subsidised projects compared to 2014, primarily because the staircase/entrance project was completed in 2014. Also, the museum staged fewer exhibitions in 2015 (two less than in 2014), corresponding to a drop in appropriation funds of DKK 9.6 million. The sales of goods and services are down by DKK 2.6 million, primarily due to lower entry fee income for What’s happening? than projected. Other operating income is down by DKK 1.5 million, primarily because extraordinary distribution funds (særlige udlodningsmidler) were paid out in 2014 in accordance with the performance contract.

The drop in other ordinary operating expenses corresponds to the decrease in income. This is partly because no costs for the staircase project were defrayed in 2015 (whereas DKK 4.6 million were defrayed in 2014), and partly due to lower expenditure on interpretation & learning activities, corresponding to a decrease of DKK 6.5 million.

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Depreciation and write down has gone down by DKK 0.7 million. This is partly because the museum has held back on reinvestments as a result of the major financial challenges ahead, partly due to the major planned investments in the heating and climate system, and partly due to the savings required under the so-called re-prioritisation contribution (“omprioriteringsbidraget”). The museum must also adjust to the fact that the practical implementation of the 9th stage of the Danish state’s procurement programme entailed a DKK 0.4 million reduction in the museum’s appropriation because consumption data for subsidiary accounts 95, 97 and 98 were also included in the calculations.

Table 7: Allocation of profit/loss DKK million, Current prices Financial Financial Budget statements statements note: 2014 2015 2016 Allocated for lapse 0.0 0.0 0.0 Allocated to reserved equity 0.0 0.0 0.0 Allocated dividend to the Treasury 0.0 0.0 0.0 Allocated to retained profits -0.3 -0.4 0.0 Table 7 shows that a minor draft on the retained profits to the value of DKK 0.4 million was made in 2015.

The forecast for 2016 and the years that follow points to great challenges ahead because the museum is facing major investments in heating and climate control systems. In early 2016 SMK and the authorities have devised funding plan and construction schedule that allows for continued operation and development of the museum in the years to come.

3.3. Balance sheet

Table 8: Balance sheet Assets Beginning Equity and liabilities Beginning of End of of End of note: 2015 2015 note: 2015 2015 Non-current assets: Equity

Intangible assets Regulated equity (start-up 1.5 1.5 1 capital) 0.0 0.0 Revaluations 0.0 0.0 Completed development projects

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0.0 0.0 0.0 0.0 Acquired concessions, Reserved equity patents, licenses, etc. 0.0 0.0 0.0 0.0 Development projects in Lapse of net profits/loss progress Total intangible assets 0.0 0.0 0.0 0.0 Dividends to the Treasury

Property, plant, and Retained earnings 0.4 0.0 2 equipment Land, areas, and 0.0 16.7 Total equity 1.9 1.6 buildings Infrastructure 0.0 0.0 3 Provisions 0.5 0.9 Transport vehicles 0.0 0.0 Plant and machinery 15.1 12.8 Long-term debt

Furnishings and IT 1.7 1.2 FF4 Long-term debt 19.4 16.4 equipment 1.9 2.2 Donations Own works in progress Total property, plant, 18.7 32.9 Mortgage debt 0.0 16.7 and equipment State guarantee 1.5 1.5 Other long-term debt 0.0 0.0 Other financial assets 0.0 0.0 Total long-term debt 0.0 0.0 1.5 1.5 19.4 33.1 Total financial assets Total non-current 20.2 34.4 assets Current assets: Inventories 0.0 0.0 Short-term debt

13.7 2.7 Suppliers of goods and 6.2 6.4 Receivables services Securities 0.0 0.0 Other short-term debt 3.1 -2.4 Cash at bank and in hand Holiday pay payable 6.5 6.2 FF5 Non-interest-bearing -2.8 2.4 Reserved appropriation 0.0 0.0 account 6.3 6.1 Contract work in progress 0.0 0.0 FF7 Financing account

Other cash and cash 0.1 0.2 Deferred income 0.0 0.0 equivalents Total cash at bank and 3.7 8.7 Total short-term debt 15.8 10.1 in hand Total current assets 17.4 11.3 Total debt 35.2 43.3

Total assets 37.6 45.8 Total equity and liabilities 37.6 45.8

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The museum is very aware of the developments in its property, plant and equipment accountings. With the major investments in heating and climate control systems to be launched in 2016, the museum is reluctant to make major investments in production plants and machinery. As is indicated in Table 8 – the balance sheet – no reinvestments in new furnishings, etc., were made in 2015, reducing the value of property, plant and equipment by DKK 2.8 million. In 2015 the museum activated the new museum staircase to a value of DKK 17.4 million, prompting a rise in the value of land, areas and buildings. This is also the main reason behind the DKK 14.2 million rise in assets. The staircase was a donation that was erroneously not entered into the accounts as an asset until 2015 – by rights, it should have been entered under works in progress back in 2013.

The fact that the donated staircase was not entered into the accounts as an asset until 2015 also explains the increase in long-term debt. The absence of reinvestment in depreciated assets reduces the long-term debt FF4.

There is a considerable decrease in total current assets. This is primarily due to a significant decrease in receivables relating to subsidies to a value of DKK 9 million. The changes seen in the FF5 Non-interest-bearing account are due to changes in deferred obligations, current assets, and debts from 2013 to 2014 which were registered at the beginning of 2015. Short-term debt is down, primarily due to a reduction in receivables (subsidy).

3.4. Statement of changes in equity Table 9: Statement of changes in equity DKK million, current prices note: 2014 2015 Equity, beginning of accounting year 2.2 1.9 Start-up capital, beginning of year 1.5 1.5 + change in start-up capital 0.0 0.0 Start-up capital, end of year 1.5 1.5 Revaluations, beginning of year 0.0 0.0 +changes in revaluations 0.0 0.0 Revaluations, end of year 0.0 0.0 Reserved equity, beginning of year 0.0 0.0 +change in reserved equity 0.0 0.0 Reserved equity, end of year 0.0 0.0 Retained profit, beginning of year 0.7 0.4 +Adjustment, beginning of year/movement between bookkeeping accounts 0.0 0.0 +Adjustment of carry forward 0.0 0.0 +Retained earnings for the year -0.3 -0.4 - Lapse of profit/loss for the year 0.0 0.0 - Dividend to the Treasury 0.0 0.0

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Retained earnings, end of year 0.4 0.0 Equity, end of accounting year 1.9 1.6

As is shown in Table 9 above, the retained profit at the beginning of 2015 came to DKK 0.4 million. In 2014 the SMK had a sanctioned overspend of DKK 0.4 million, which reduced the retained profit to DKK 0 at the end of 2015. The equity comes to a total of DKK 1.6 million and comprises the start-up capital of DKK 1.5 million and small retained earnings to the value of DKK 18,000.

3.5. Liquidity scheme and loan facility Table 10: Utilisation of loan facility DKK million, current prices 2015 Sum of intangible and material assets (excepting donations) as of 31 16.2 December 2015 Loan facility as of 31 December 2015 29.3 Utilisation rate, per cent 55.3%

The loan facility was not exceeded in 2015. The utilisation rate of the loan facility has been reduced from 63.8% in 2014 to 55.3%. As has already been mentioned, the reason for this is the SMK’s reluctance to make new investments in 2015 until the plans for funding the new heating and climate control systems were in place, which they were in December. In connection with the funding of the new heating and climate control system the loan facility is expected to be extended considerably and to be fully utilised.

3.6. Follow-up on payroll cap Table 11: Follow-up on payroll cap (§ 21.33.21.) DKK million, current prices 2015 Payroll cap, Appropriation Act 45.6 Payroll cap incl. TB/AKT 45.1 Cost of labour under payroll cap 44.2 Difference 0.9 Accumulated savings end of 2014 33.6 Accumulated savings end of 2015 34.5

The payroll cap was not exceeded. The total expenditure on labour under the payroll cap was DKK 44.2 million. In addition to this the museum received external grants for wages and salaries to a total of DKK 8.6 million, comprising 3.9 million for research, 3.8 million for other grant-funded projects, and DKK 0.8 million for Parkmuseerne. The total expenditure on labour was DKK 52.7 million.

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3.7. Appropriation accounts Table 12: Appropriation accounts (§ 21.33.21.) DKK million, current prices Financial Financial statements Budget statements Budget 2014 2015 2015 Difference 2016 Net expenses appropriation -81.7 -81.7 -82.2 0.5 -78.8 Net consumption of reservation 0.0 0.0 0.0 0.0 0.0 Income -54.5 -13.2 -41.0 27.8 -13.2 Total income -136.2 -94.9 -123.2 28.3 -92.0 Expenses 136.5 94.9 123.6 -28.7 92.0 Profit/loss for the year 0.3 0.0 0.4 -0.4 0.0

The appropriation accounts show a marginal increase in the net expenses appropriation from 2014 to 2015. This is because the museum’s appropriation was reduced in 2015, specifically through the introduction of a so-called disposition restriction (“dispositionsbegrænsning”) of DKK 1.0 million and procurement streamlining to the amount of 0.4 million. Due to projecting costs associated with the planned new heating and climate control systems and extra costs for emergency cooling systems the museum also received an extra appropriation of DKK 1.9 million. This means that all in all, the museum received an extra 0.5 million in appropriations.

The appropriation accounts also show that income was higher in 2015 than budgeted. The income was conservatively budgeted at DKK 13.2 million, but totalled DKK 41.0 million. This was partly due to the receipt of more grants for art acquisitions to the value of DKK 2.0 million, and because larger grants than expected were given to the two special exhibitions – a total of DKK 11.3 million compared to the projected 4.0 million. The museum also received grants for more research and interpretation & learning projects than expected, to a total of DKK 5.8 million. In total, the appropriation accounts show an overspend of DKK 0.4 million; this is covered by accumulated profits from previous years.

In 2016 the net expenses appropriation will be reduced to DKK 78.8 million compared to the DKK 81.6 million originally stipulated in the performance contract. This reduction is mainly the result of a so-called re-prioritisation contribution of DKK 1.7 million and the procurement streamlining seen in 2015 (DKK 0.4 million).

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4. Appendices to the Annual Report Note 1: Intangible assets DKK million Acquired Completed concessions, development Total patents, projects licences etc.

Beginning of 2015 0.0 0.5 0.5 Revaluation 0.0 0.0 0.0 Cost prices as of 1.1.2015 (before depreciation) 0.0 0.5 0.5

Gain 0.0 0.0 0.0 Loss 0.0 0.0 0.0 Cost prices as of 31.12.2015 (before depreciation) 0.0 0.5 0.5 Accumulated depreciation 0.0 0.5 0.5 Accumulated write down 0.0 0.0 0.0 Accumulated depreciation and write down 31.12.2015 0.0 0.5 0.5

Value on 31.12.2015 0.0 0.0 0.0 Depreciation, 2015 0.0 0.0 0.0 Write down, 2015 0.0 0.0 0.0 Total depreciation and write down, 2014 0.0 0.0 0.0 Depreciation period/year years years

Note 2: Property, plant and equipment

Transportmat

Infrastructure

Produktionsa

Inventar og Inventar

arealer og arealer DKK million bygninger

maskiner

IT

Grunde, Grunde, og nlæg

-

eriel

I alt I

udstyr

Beginning of 2014 0.0 0.0 57.1 0.1 9.3 66.6 Revaluation 0.0 0.0 0.0 0.0 0.0 0.0

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Cost prices as of 1.1.2014 (before depreciation) 0.0 0.0 57.1 0.1 9.3 66.6

Gain 17.4 0.0 0.0 0.0 0.4 17.9

Loss 0.0 0.0 0.0 0.0 0.0 0.0

Cost prices as of 31.12.2014 (before depreciation) 17.4 0.0 57.1 0.1 9.7 17.9 Accumulated depreciation 0.7 0.0 44.3 0.1 8.5 53.7 Accumulated write down 0.0 0.0 0.0 0.0 0.0 0.0

Accumulated depreciation and write down 31.12.2014 0.7 0.0 44.3 0.1 8.5 53.7

Value on 31.12.2014 16.7 0.0 12.8 0.0 1.2 30.7

Depreciation, 2014 0.7 0.0 2.3 0.0 0.9 3.9

Write down, 2014 0.0 0.0 0.0 0.0 0.0 0.0

Total depreciation and write down, 2014 0.7 0.0 2.3 0.0 0.9 3.9

Depreciation 20 - 50 5 - 20 period/year years 0 years 5 years 3 - 5 years

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Note 3: Provisions DKK million Provisions made in 2015 for Amount Value on 1.1.2015 -0.5 Provisions paid towards appointments with limited tenure 2015 -0.2 Provision for performance-related pay 0.0 Fire safety costs -0.2 Provisions, total -0.9

Appendix 1: Fee schemes Profit/loss Current prices, DKK million 2012 2013 2014 2015 I alt Supervision fee for works on loan 0.2 0.2 0.2 0.3 0.9 Fee for works on loan 0.8 0.7 0.7 0.8 2.9

Appendix 2a: Grant-funded research activities (subsidiary account 95) Grants DKK million, current prices received Expenses Postdoc and PhD 2.4 2.4 CATS 3.0 3.0 Total 5.4 5.4

Appendix 2b: Other grant-funded activities (subsidiary account 97) Grants DKK million, current prices received Expenses Art acquisitions 2.0 2.0 Exhibitions 11.3 11.3 Museum stairs 0.2 0.2 Other activities 4.4 4.4 Total 17.9 17.9

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Appendix 2c: Parkmuseerne (subsidiary account 98) Grants DKK million, current prices received Expenses Parkmuseerne 2.4 2,4 I alt 2.4 2.4

Appendix 3 Man-years/number of Financial Financial Financial Financial Budget statements statements statements statements 2016 2012 2013 2014 2015 Number of man-years 114.4 116.9 120.0 121.6 118.0 Employees gained 45.0 35.0 35.0 40.0 35.0 Employees lost 29.0 32.0 43.0 56.0 35.0

Appendix 4: Grants DKK million 2015 Profits transferred Profit for from Grant Total Profit for provisions, previous for funds Financial provisions, beginning Grant scheme years 2015 available statements Profit/loss end of year of year Grant 1. Subsidiary account 95 9.6 3.0 12.6 5.0 -2.0 7.6 7.6 Grant 2. Subsidiary account 97 21.5 12.3 33.8 12.7 -0.4 21.1 21.1 Grant 3. Subsidiary account 98 4.5 0.1 4.6 1.6 -1.5 3.0 3.0

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