RESUMÉ Financial results (figures for the corresponding period in 2013 are given in parenthesis). Road revenue DKK 1,340 million (DKK 1,263 million). Compared to 2013, road revenue from Storebælt increased by 6.1 per cent. The increase can primarily be explained by a 4.7 per cent growth in traffic. Revenue from railway DKK 446 million (DKK 444 million). Operating expenses DKK 225 million (DKK 218 million) Depreciation DKK 311 million (DKK 309 million) EBIT DKK 1,287 million (DKK 1,217 million) Interest expenses DKK 454 million (DKK 606 million). Value adjustments, expense DKK 1,088 million (income DKK 1,387 million).This comprises the fair value adjustment of net financials at an expense of DKK 1,098 million, which is an accounting item with no effect on the companies’ debt reduction. The share from Øresundsbro Konsortiet’s results is an expense of DKK 78 million (income DKK 628 million). Øresundsbro Konsortiet’s results are affected by increasing turnover from the road section of 6.6 per cent, which can be explained by the large increase in freight traffic and a rise in leisure traffic, which is partly owing to the train strike in June. In addition, the results are affected by lower interest expenses as well as negative value adjustments of DKK 491 million (positive DKK1,005 million), of which half is included in the Group’s share of the results. Tax constitutes an income of DKK 74 million (expense DKK 961 million). As regards the tax income for the period, a tax expense of DKK 8 million has been offset, which relates to a write-down of the Group’s tax assets as a result of the reduction in the corporation tax rate. The result after tax amounts to a loss of DKK 258 million (profit DKK 1,666 million). Cash flow Cash flow from operating and investment activities (free cash flow) resulted in a net rise in li- quidity of DKK 1,153 million. Cash flow from financing activities resulted in a fall in liquidity of DKK 2,273 million whereby the Group’s cash at bank and in hand for the period saw a net fall of DKK 1,120 million. Outlook for 2014 The outlook before financial value adjustments and tax has been adjusted upwards by DKK 300 million to a profit of approximately DKK 1,950 million. Page 2/31 29 August 2014
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