SUMMARY Financial results (figures for the corresponding period in 2016 are given in parenthesis). Revenue from the railway: DKK 60 million (DKK 74 million). As part of the adoption of the Finance Act 2017, the fees for the rail companies’ use of the Øresund railway line were reduced compared to 2016. Operating expenses: DKK 68 million (DKK 55 million). The increase is primarily related to A/S Øresund assuming responsibility for maintenance and reinvestment on the Øresund railway line from Banedanmark with effect from 1 September 2015. Depreciation: DKK 251 million (DKK 161 million). The increase over the period is related in part to further division of the road and rail facilities into their individual components, which took place at the end of 2016, and in part to the implemented reinvestments on the Øresund railway line. EBIT amounts to a loss of DKK 258 million (loss DKK 139 million). Interest expenses DKK 167 million (DKK 175 million). Value adjustments: income DKK 313 million (expense DKK 910 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 from Øresundsbro Konsortiet I/S’ result is an income of DKK 639 million (income DKK 170 million). Øresundsbro Konsortiet I/S’ result is affected by a rise in road revenue of 4.9 per cent, which can primarily be explained by growth in traffic of 2.4 per cent (not adjusted for the leap year day, traffic growth amounts to 2.0 per cent). In addition, the result is affected by higher interest expenses and positive value adjustments of DKK 426 million (negative DKK 478 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 3 million, including the share of the profit in Øresundsbro Konsortiet I/S (share of profit DKK 427 million). Tax constitutes an expense of DKK 116 million (income DKK 232 million). Changes in relation to the same period in 2016 are solely related to changes in the results. The result after tax is a profit of DKK 412 million (loss DKK 822 million). Cash flow Cash flow from operating and investing activities (free cash flow) has resulted in a net rise in liquidity of DKK 399 million. Cash flow from financing activities has resulted in a net fall in liquidity of DKK 265 million whereby the Group’s cash at bank and in hand for the period saw a net fall of DKK 134 million. Outlook for 2017 The outlook before financial value adjustments and tax remains unchanged at a neutral result. Of this, the share of the result from Øresundsbro Konsortiet I/S amounts to a profit of approximately DKK 530 million. Page 2/10 30 November 2017
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