RESUMÉ Financial results (figures for the corresponding period in 2015 are given in parenthesis) Revenue from the railway DKK 50 million (DKK 53 million). As part of the adoption of the Finance Act for 2016, the fees for the rail companies’ use of the railway across Øresund were reduced. Operating expenses DKK 36 million (DKK 14 million). Depreciation: DKK 107 million (DKK 41 million). As regards both operating expenses and depreciation, the increase is attributable to A/S Øresund assuming maintenance and reinvestment responsibility for the Øresund line from Banedanmark with effect from 1 September 2015. EBIT amounts to a loss of DKK 91 million (profit DKK 1 million). Interest expenses: DKK 116 million (DKK 144 million). The fall can primarily be attributed to lower inflation in 2016. Value adjustments, expense DKK 807 million (income DKK 426 million). This includes the fair value adjustment of net financials at an expense of DKK 813 million, which is an accounting item with no effect on the companies’ debt reduction. The share from Øresundsbro Konsortiet I/S, income DKK 10 million (income DKK 245 million). Øresundsbro Konsortiet I/S’ result is affected by a rise in road revenue of 6.4 per cent. This can be explained by growth in traffic of 4.5 per cent (adjusted for the leap year day, traffic growth amounts to 4.0 per cent). In addition, the result is affected by lower interest expenses and negative value adjustments of DKK 421 million (positive DKK 97 million) of which half is included in the company’s share of the result. The result before value adjustments and tax is a profit of DKK 13 million, including the share of the result in Øresundsbro Konsortiet I/S (share of profit DKK 220 million). Tax constitutes an income of DKK 221 million (expense DKK 116 million). The result after tax is a loss of DKK 784 million (profit DKK 412 million). Cash flow Cash flow from operating and investing activities (free cash flow) resulted in a net rise in li- quidity of DKK 32 million. Cash flow from financing activities has resulted in a fall in liquidity of DKK 78 million whereby the Group’s cash at bank and in hand for the period saw a net fall of DKK 46 million. Outlook for 2016 The outlook for the result before financial value adjustments and tax has been adjusted up- wards by DKK 70-90 million to a profit in the region of 0 to DKK 20 million. Page 2/11 22 August 2016
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