RESUMÉ Financial results (figures for the corresponding period in 2015 are given in parenthesis). Road revenue: DKK 1,479 million (DKK 1,395 million). Compared to 2015, road revenue from the Storebælt fixed link increased by 6.0 per cent. The increase can partly be explained by traffic growth of 4.3 per cent (not adjusted for the leap year day, traffic growth amounts to 4.9 per cent), and partly by a general toll charge increase from 1 January 2016. Revenue from the railway: DKK 181 million (DKK 296 million). As part of the adoption of the Finance Act for 2016, the fees for the rail companies’ use of the railway across Storebælt will be reduced by approximately DKK 264 million in 2016. Operating expenses: DKK 203 million (DKK 224 million). Depreciation: DKK 274 million (DKK 265 million). EBIT: DKK 1,210 million (DKK 1,234 million). Interest expenses: DKK 245 million (DKK 293 million). The fall can primarily be attributed to lower inflation in 2016. The result before value adjustments and tax is a profit of DKK 966 million (profit DKK 941 million. Value adjustments: expense DKK 274 million (income: DKK 138 million). This includes the fair value adjustment of net financials at an expense of DKK 292 million, which is an accounting item with no effect on the companies’ debt reduction. Tax constitutes an expense of DKK 152 million (expense DKK 238 million). The result after tax is a profit of DKK 540 million (profit DKK 842 million). Cash flow Cash flow from operating and investing activities (free cash flow) resulted in a net increase in liquidity of DKK 1,400 million. Cash flow from financing activities has resulted in a fall in liquidity of DKK 1,033 million, whereby A/S Storebælt’s cash at bank and in hand for the period saw a net increase of DKK 367 million. Outlook for 2016 The outlook before financial value adjustments and tax has been adjusted upwards by DKK 190-245 million to a profit in the range of between DKK 1,910 million and DKK 1,965 million. Page 2/11 22 August 2016
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