SUMMARY Financial results (figures for the corresponding period in 2018 are given in parenthesis). Revenue from the railway: DKK 20 million (DKK 30 million). The decline in revenue can be attributed to the adoption of the Finance Act 2016 whereby it was decided that the fees for the rail companies’ use of the Øresund railway line should be reduced over a number of years. Other income: DKK 0 million (DKK 9 million). The negative difference can primarily be attributed to the sale of building rights for DKK 7.5 million in the same period last year. Operating expenses: DKK 48 million (DKK 44 million). Depreciation: DKK 111 million (DKK 131 million). EBIT amounts to a loss of DKK 138 million (loss DKK 136 million). Interest expenses DKK 100 million (DKK 94 million). Value adjustments: expense of DKK 425 million (expense DKK 32 million). Fair value adjustments are an accounting item with no effect on the company’s debt repayment because the debt is repaid at nominal value. The share of the result from Øresundsbro Konsortiet I/S: income of DKK 74 million (income DKK 330 million). The difference in the result for Øresundsbro Konsortiet I/S compared to the same period last year is primarily due to a negative difference in value adjustments of DKK 520 million. The result before value adjustments and tax is a profit of DKK 44 million, including the share of the profit in Øresundsbro Konsortiet I/S (profit DKK 38 million). Tax constitutes an income of DKK 130 million (expense DKK 15 million). Changes in relation to the same period in 2018 are solely related to changes in the result. The result after tax is a loss of DKK 459 million (profit DKK 53 million). Cash flow Cash flow from operating and investing activities (free cash flow) has resulted in a net reduction in liquidity of DKK 22 million. Cash flow from financing activities has resulted in an improvement in liquidity of DKK 101 million whereby A/S Øresund’s cash at bank and in hand for the period saw a net improvement of DKK 79 million. Outlook for 2019 The outlook for the result before financial value adjustments and tax has changed to a profit of approx. DKK 130 million. Of this, the share of the result from Øresundsbro Konsortiet I/S is a profit of approx. DKK 640 million.The upward adjustment of DKK 30 million has been made because of a lower level of inflation. Page 2/12 26 August 2019
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