RESUMÉ Financial results (figures for the same period in 2009 are given in parenthe- sis). • Revenue from road link totals DKK 490 million (DKK 516 mil- lion) Compared to 2009, road revenue from Storebælt fell by 5.0 per cent while traffic fell by 6.4 per cent. The slight fall in traffic reve- nue is primarily owing to the price adjustment as from 1 January 2010. • Revenue from the rail link totals DKK 213 million (DKK 210 mil- lion) The rise is solely owing to fare adjustments. • Operating expenses DKK 99 million (DKK 90 million) • Depreciation DKK 173 million (DKK 167 million) • Operating profit (EBIT) DKK 450 million (DKK 477 million) • Interest expenses DKK 423 million (DKK 621 million). Expenses are DKK 198 million lower than in 2009 owing to lower interest rate and inflation levels. • Value adjustments, expense DKK 566 million (DKK 704 million). This comprises the fair value adjustment of net financials of DKK 516 million. This is an accounting item with no effect on the com- panies' debt reduction. • Share of result from Øresundsbro Konsortiet, expense DKK 202 million (DKK 245 million). Øresundsbro Konsortiet's result is af- fected by lower financing expenses as well as lower value adjust- ments which fell from DKK 229 million to DKK 204 million. • Result after tax, a loss of DKK 555 million (DKK 820 million) Cash flow • The Group's cash at bank and in hand increased by DKK 713 mil- lion net for the period under review. Cash flow from operations and investments (free cash flow) resulted in a net rise in liquidity of DKK 943 million net. Cash flow from financing activity resulted in a net fall in liquidity of DKK 230 million. Expectations for 2010 • Expectations for the result before financial value adjustments and tax remain unchanged at approx. DKK 280 million. On the backdrop of the hard winter weather conditions in the first months of 2010, revenue may be lower than forecast. This, however, is expected to be offset by lower financing expenses. Some uncertainty with regard to the expected results for 2010 remains. page 2/31 25 May 2010
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