RESUMÉ Financial results (figures for the corresponding period in 2014 are given in parenthesis). Revenue from the railway DKK 53 million (DKK 53 million). Operating expenses DKK 14 million (DKK 13 million). Depreciation DKK 41 million (DKK 40 million). EBIT DKK 0.5 million (DKK 0.6 million). Interest expenses DKK 144 million (DKK 121 million). Value adjustments: income DKK 426 million (expense DKK 480 million). This includes the fair value adjustment of net financials at an income of DKK 430 million, which is an accounting item with no effect on the companies’ debt reduction. The share from Øresundsbro Konsortiet I/S’ result is an income of DKK 245 million (expense DKK 78 million). Øresundsbro Konsortiet I/S’ result is affected by a rise in road revenues of 2.5 per cent, which can primarily be explained by a growth in lorry traffic of 6.6 per cent. In addition, the result is affected by lower interest expenses as well as positive value adjustments of DKK 97 million (negative DKK 491 million), of which half is included in the Group’s share of the results. The result before value adjustments and tax is a profit of DKK 53 million, including the share of the result in Øresundsbro Konsortiet I/S of DKK 197 million. Tax constitutes an expense of DKK 116 million (income DKK 149 million). As regards the tax expense for the period, a tax income of DKK 8 million has been offset, which relates to a write-down of the company’s tax asset as a result of the reduction in the corporation tax rate. The result after tax is a profit of DKK 412 million (loss DKK 530 million). Cash flow Cash flow from operating and investing activities (free cash flow) resulted in a net fall in liquidity of DKK 50 million. Cash flow from financing activities has resulted in a net rise in liquidity of DKK 442 million whereby the Group’s cash at bank and in hand for the period saw a net rise of DKK 392 million. Outlook for 2015 The outlook before financial value adjustments and tax is upgraded by approximately DKK 40 million to approximately DKK 100 million Page 2/11 27 August 2015
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