RESUMÉ Financial results (figures for the same period in 2010 are provided in parenthesis) Road revenue totals DKK 1,851 million (DKK 1,790 million). Compared to 2010, road reve- nue from Storebælt increased by 3.4 per cent while traffic increased by 1.3 per cent. The revenue increase is explained in part by the rise in toll charges on 1 January and in part by the increase in traffic. Revenue from the rail link totals DKK 648 million (DKK 638 million). Operating expenses DKK 296 million (DKK 301 million) Depreciation DKK 525 million (DKK 519 million) EBIT DKK 1,731 million (DKK 1,658 million) Interest expenses DKK 1,217 million (DKK 1,440 million). Expenses are DKK 223 million lower than in 2010 owing to the gradual impact of the currently low interest rates on the debt portfolio. Value adjustments, expense of DKK 999 million (expense of DKK 1,137 million). This comprises the fair value adjustment of net financials at an expense of DKK 1,034 million, which is solely an accounting item with no effect on the companies’ debt reduction. The share of Øresundsbro Konsortiet’s results is an expense of DKK 150 million (expense DKK 307 million). Øresundsbro Konsortiet’s results are affected by increased turnover on the road section of 1.6 per cent, lower expenses, lower depreciation and negative value adjustments of DKK 282 million (negative DKK 399 million). Result after tax, loss of DKK 477 million (loss of DKK 920 million) Cash flow The Group’s cash at bank and in hand for the period showed a net increase of DKK 332 million. Cash flow from operating activities before interest expenses and investment activity (free cash flow) resulted in a net rise in liquidity of DKK 2,670 million. Cash flow from financing activity resulted in a net fall in liquidity of DKK 2,338 million. Expectations for 2011 Profit forecasts before financial value adjustments and tax have been upgraded by approx. DKK 100 million and amount to approximately DKK 775 million. The upgrading is based on expectations for increased traffic revenue and lower expenses and depreciation than originally budgeted. Page 2/29 22 November 2011
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