SUMMARY Financial results (figures for the corresponding period in 2018 are given in parenthesis). Revenue from the railway: DKK 30 million (DKK 46 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 1 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 67 million (DKK 67 million). Depreciation: DKK 166 million (DKK 196 million). EBIT amounts to a loss of DKK 202 million (loss DKK 209 million). Interest expenses DKK 140 million (DKK 167 million). Value adjustments: expense of DKK 809 million (income DKK 123 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 141 million (income DKK 602 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 1,100 million. The result before value adjustments and tax is a profit of DKK 160 million, including the share of the profit in Øresundsbro Konsortiet I/S (profit DKK 102 million). Tax constitutes an income of DKK 222 million (expense DKK 77 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 788 million (profit DKK 272 million). Cash flow Cash flow from operating and investing activities (free cash flow) has resulted in a net improvement in liquidity of DKK 274 million. Cash flow from financing activities has resulted in a reduction in liquidity of DKK 76 million whereby A/S Øresund’s cash at bank and in hand for the period saw a net improvement of DKK 198 million. Outlook for 2019 The outlook for the result before financial value adjustments and tax is unchanged at a profit of approximately DKK 130 million. Of this, the share of the result from Øresundsbro Konsortiet I/S is a profit of approx. DKK 640 million. Page 2/11 28 November 2019
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