SUMMARY Financial results (figures for the corresponding period in 2017 are given in parenthesis). Road revenue: DKK 2,191 million (DKK 2,409 million). Compared to 2017, road revenue from the Storebælt fixed link declined by 9 per cent. This can primarily be explained by the impact of the toll fee reduction. Growth in traffic over the period was 2.0 per cent compared to 2017. Revenue from the railway: DKK 274 million (DKK 319 million). As part of the adoption of the Finance Act 2016, it was decided that the fees for the rail companies’ use of the Øresund rail line should be reduced over a number of years. Moreover, revenue from A/S Storebælt is also reduced because of the reduction in fares for passenger trains in parallel with the reduction in fees for road traffic. Other income includes the sale of development rights for DKK 7.5 million on the part of A/S Øresund as well as the sale of Sprogø wind farm on the part of A/S Storebælt with effect from 1 June 2018 whereby net profits amount to DKK 65.7 million. Operating expenses: DKK 374 million (DKK 383 million). Depreciation: DKK 610 million (DKK 672 million). EBIT: DKK 1,614 million (DKK 1,726 million). Interest expenses: DKK 423 million (expense of DKK 561 million). The fall in financing expenses is largely due to the early repayment of loans and lower inflation. Value adjustments: income of DKK 230 million (income of DKK 717 million). The 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 602 million (income DKK 639 million). Øresundsbro Konsortiet I/S’ result has been positively affected by a rise in road revenue of 1.7 per cent and by lower interest expenses. At the same time, compared to 2017, the result has been negatively affected because of lower positive value adjustments of approximately DKK 90 million. The result before value adjustments and tax is a profit of DKK 1,669 million (profit DKK 1,592 million) including the share of the profit in Øresundsbro Konsortiet I/S. Tax amounts to an expense of DKK 446 million (DKK 555 million). The changes in relation to the same period in 2017 are solely related to changes in the results. The result after tax is a profit of DKK 1,578 million (DKK 1,966 million). Cash flow Cash flow from operating and investing activities (free cash flow) has resulted in a net rise in liquidity of DKK 1,702 million. Cash flow from financing activities has resulted in a net fall in liquidity of DKK 1,041 million whereby the Group’s cash at bank and in hand for the period saw a net increase of DKK 661 million. Page 2/38 29 November 2018
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