RESUMÉ Financial results (figures for the corresponding period in 2014 are given in parenthesis). Revenue from the railway DKK 81 million (DKK 79 million). Operating expenses DKK 25 million (DKK 18 million). Depreciation DKK 74 million (DKK 60 million). EBIT: a loss of DKK 16 million (profit DKK 2 million). Interest expenses DKK 191 million (DKK 169 million). Value adjustments: income DKK 390 million (expense DKK 659 million). This includes the fair value adjustment of net financials at an income of DKK 394 million, which is an accounting item with no effect on the company’s debt reduction. The share from Øresundsbro Konsortiet I/S’ result is an income of DKK 461 million (expense DKK 36 million). Øresundsbro Konsortiet I/S’ result is affected by a rise in road revenue of 4.7 per cent, which can be explained by traffic growth of 1.8 per cent. In addition, the result is affected by lower interest expenses as well as positive value adjustments of DKK 190 million (negative DKK 712 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 159 million, including the share of the result in Øresundsbro Konsortiet I/S (share of profit DKK 366 million). Tax constitutes an expense of DKK 142 million (income DKK 189 million). As regards the tax expense for the period, a tax income of DKK 10 million has been offset, which relates to an adjustment 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 502 million (loss DKK 673 million). Cash flow Cash flow from operating and investment activities (free cash flow) resulted in a net rise in liquidity of DKK 226 million. Cash flow from financing activities has resulted in a net rise in liquidity of DKK 434 million whereby the Group’s cash at bank and in hand for the period saw a net rise of DKK 660 million. Outlook for 2015 The outlook before financial value adjustments and tax remains unchanged at a profit of approximately DKK 100 million. Page 2/11 26 November 2015
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