RESUMÉ Financial results (figures for the corresponding period in 2015 are given in parenthesis). Road revenue: DKK 662 million (DKK 627 million). Compared to 2015, road revenue from Storebælt increased by 5.5 per cent. The increase can in part be accounted for by a 5.3 per cent growth in traffic (adjusted for the leap year day, traffic growth amounts to 4.2 per cent) and in part by a general increase in toll charges from 1 January 2016. Revenue from the railway: DKK 115 million (DKK 175 million). As part of the adoption of the Finance Act of 2016, the fees for the rail companies’ use of the railways across Storebælt and Øresund will be reduced by approximately DKK 275 million in 2016. Operating expenses: DKK 104 million (DKK 100 million) Depreciation: DKK 195 million (DKK 156 million). The increase is attributable to A/S Øresund assuming maintenance and reinvestment responsibility for the Øresund line from Banedanmark. EBIT: DKK 499 million (DKK 568 million) Interest expenses: DKK 85 million (DKK 76 million). Value adjustments: expense DKK 639 million (expense DKK 1,103 million). This includes the fair value adjustment of net financials at an expense of DKK 652 million, which is an accounting item with no effect on the companies’ debt reduction. The share from Øresundsbro Konsortiet I/S’ result is an expense of DKK 77 million (expense DKK 155 million). Øresundsbro Konsortiet I/S’ result is affected by a rise in road revenue of 7.3 per cent, which can primarily be explained by growth in traffic of 5.3 per cent (adjusted for the leap year day traffic growth amounts to 4.1 per cent). In addition, the result is affected by lower operating expenses, lower interest expenses and negative value adjustments of DKK 367 million (negative DKK 517 million) of which half is included in the Group’s share of the results. The result before value adjustments and tax is a profit of DKK 520 million (profit DKK 596 million) including the share of the profit in Øresundsbro Konsortiet I/S. Tax constitutes an income of DKK 66 million (income DKK 169 million). The result after tax is a loss of DKK 236 million (loss DKK 598 million). Cash flow Cash flow from operating and investing activities (free cash flow) resulted in a net rise in li- quidity of DKK 478 million. Cash flow from financing activities has resulted in a fall in liquidity of DKK 41 million whereby the Group’s cash at bank and in hand for the period saw a net increase of DKK 437 million. Outlook for 2016 The outlook before financial value adjustments and tax is unchanged at a profit of approxi- mately DKK 1,620 million. Page 2/34 30 May 2016
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