RESUMÉ Financial results (figures for the corresponding period in 2013 are given in parenthesis). Road revenue DKK 2,116 million (DKK 1,998 million). Compared to 2013, road revenue from Storebælt increased by 5.9 per cent. The increase can primarily be explained by a 4.3 per cent growth in traffic. Revenue from railway DKK 669 million (DKK 666 million). Operating expenses DKK 339 million (DKK 326 million) Depreciation DKK 467 million (DKK 464 million) EBIT DKK 2,035 million (DKK 1,928 million) Interest expenses DKK 617 million (DKK 820 million). Value adjustments, expense DKK 1,429 million (income DKK 1,446 million).This includes the fair value adjustment of net financials at an expense of DKK 1,463 million, which is an accounting item with no effect on the companies’ debt reduction. The share from Øresundsbro Konsortiet’s result is an expense of DKK 36 million (income DKK 818 million). Øresundsbro Konsortiet’s results are affected by increased turnover from the road section of 6.4 per cent, which can be explained by the continued rise in freight traffic and a significant 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 712 million (positive DKK1,140 million), of which half is included in the Group’s share of the results. Tax constitutes an income of DKK 11 million (expense DKK 1,147 million). As regards the tax income for the period, a tax expense of DKK 1 million has been offset, which relates to a write-down of the Group’s tax asset as a result of the reduction in the corporation tax rate. The result after tax amounts to a loss of DKK 36 million (profit DKK 2,225 million). Cash flow Cash flow from operating and investing activities (free cash flow) resulted in a net rise in li- quidity of DKK 1,790 million. Cash flow from financing activities has resulted in a fall in liquidity of DKK 2,974 million whereby the Group’s cash at bank and in hand for the period saw a net fall of DKK 1,184 million. Outlook for 2014 The outlook before financial value adjustments and tax is unchanged at a profit of approxi- mately DKK 1,950 million. Page 2/30 27 November 2014
Download PDF fil