RESUMÉ Financial results (figures for the corresponding period in 2015 are given in parenthesis). Road revenue: DKK 2,336 million (DKK 2,205 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 4.5 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 238 million (DKK 444 million). As part of the adoption of the Finance Act for 2016, the fees for the rail companies’ use of the railway across Storebælt were reduced by approximately DKK 264 million in 2016 and made dependent on the number of trains on the link. Operating expenses: DKK 297 million (DKK 328 million). Depreciation: DKK 724 million (DKK 397 million). The increase can be attributed to depreciation in the value of Sprogø Wind Farm as well as a building at the port of Ebeltoft. EBIT: DKK 1,593 million (DKK 1,968 million). Interest expenses: DKK 379 million (DKK 402 million). The fall can primarily be attributed to a lower level of interest and lower debt. The result before value adjustments and tax is a profit of DKK 1,214 million (profit DKK 1,566 million. Value adjustments: expense DKK 361 million (income: DKK 297 million). This includes the fair value adjustment of net financials at an expense of DKK 370 million, which is an accounting item with no effect on the companies’ debt reduction. Tax constitutes an expense of DKK 188 million (expense DKK 410 million). The changes compared to the same period in 2015 are solely related to changes in the result. The result after tax is a profit of DKK 665 million (profit DKK 1,453 million). Cash flow Cash flow from operating and investing activities (free cash flow) resulted in a net increase in liquidity of DKK 2,488 million. Cash flow from financing activities has resulted in a fall in liquidity of DKK 2,295 million, whereby A/S Storebælt’s cash at bank and in hand for the period saw a net increase of DKK 193 million. Outlook for 2016 The outlook before financial value adjustments and tax has been adjusted downwards by approximately DKK 300 million to a profit within the range of DKK 1,600 million and DKK 1,655 million. Previously the outlook was for a profit within the range of DKK 1,910 million and DKK 1,965 million. Page 2/11 25 November 2016
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