SUMMARY Financial results (figures for the corresponding period in 2017 are given in parenthesis). Revenue from the railway: DKK 30 million (DKK 40 million). The decrease in revenue can be attributed to the adoption of the Finance Act 2016 whereby it was decided that the fees for the rail companies’ use of the Øresund line should be reduced over a number of years. Other income: the positive difference can primarily be attributed to the sale of building rights for DKK 7.5 million. Operating expenses: DKK 44 million (DKK 45 million). Depreciation: DKK 131 million (DKK 168 million). EBIT amounts to a loss of DKK 136 million (loss DKK 171 million). Interest expenses DKK 94 million (DKK 118 million). Value adjustments: expense of DKK 32 million (income DKK 395 million). Fair value adjustments are an accounting item with no effect on the company’s debt repayment because the debt is repaid at nominal value. The share of the result from Øresundsbro Konsortiet I/S: income of DKK 330 million (income DKK 426 million). Øresundsbro Konsortiet I/S’ result is positively affected by an increase in road revenue of 1.4 per cent. Conversely, the result is negatively affected by lower value adjustments compared to 2017, DKK 125 million (DKK 386 million) of which half is included in the company’s share of the results. The result before value adjustments and tax is a profit of DKK 38 million, including the share of the profit in Øresundsbro Konsortiet I/S (loss DKK 57 million). Tax constitutes an expense of DKK 15 million (expense DKK 117 million). Changes in relation to the same period in 2017 are solely related to changes in the result. The result after tax is a profit of DKK 53 million (profit DKK 414 million). Cash flow Cash flow from operating and investing activities (free cash flow) has resulted in a net fall in liquidity of DKK 47 million. Cash flow from financing activities has resulted in a net rise in liquidity of DKK 241 million whereby the Group’s cash at bank and in hand for the period saw a net increase of DKK 194 million. Outlook for 2018 The outlook for the result before financial value adjustments and tax has changed from a break-even result to a profit within the range of DKK 0-100 million of which the share of the result from Øresundsbro Konsortiet I/S is a profit of around DKK 600 million. Page 2/11 27 August 2018
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