SUMMARY Financial results (figures for the corresponding period in 2018 are given in parenthesis). Road revenue: DKK 2,236 million (DKK 2,191 million). Compared to 2018, road revenue from the Storebælt fixed link increased by 2.1 per cent. Traffic growth amounted to 2.4 per cent compared the same period in 2018. Revenue from the railway: DKK 215 million (DKK 229 million). The decline in revenue can be attributed to the fall in the number of passages across Storebælt because of extensive track work at Ringsted and maintenance work on the Storebælt section. This resulted in many cancelled trains across Storebælt, particularly over the Easter period when all trains were cancelled. Other Income: DKK 23 million (DKK 97 million). The sale of Sprogø Wind Farm was concluded in 2018 for DKK 65.7 million. Operating expenses: DKK 261 million (DKK 269 million). Depreciation: DKK 396 million (DKK 395 million). EBIT: DKK 1,816 million (DKK 1,853 million). Interest expenses: DKK 148 million (interest expense: DKK 257 million). The result before value adjustments and tax is a profit of DKK 1,669 million (profit DKK 1,596 million). Value adjustments are an expense of DKK 455 million (income DKK 138 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. Tax constitutes an expense of DKK 267 million (expense DKK 382 million). Changes in relation to the same period in 2018 are solely related to changes in the result. The result after tax is a profit of DKK 947 million (profit DKK 1,353 million). Cash flow Cash flow from operating and investing activities (free cash flow) has resulted in an improvement in liquidity of DKK 2,050 million. Cash flow from financing activities has resulted in a reduction in liquidity of DKK 2,315 million whereby A/S Storebælt’s cash at bank and in hand for the period was reduced by DKK 265 million. Outlook for 2019 The outlook for the result before financial value adjustments and tax is unchanged at a profit of approximately DKK 2,070 million. Page 2/11 28 November 2019
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