SUMMARY Financial results (figures for the corresponding period in 2018 are given in parenthesis). Road revenue: DKK 636 million (DKK 624 million). Compared to 2018, road revenue from the Storebælt fixed link increased by 2 per cent. Traffic growth also amounted to 2 per cent compared to 2018. Revenue from the railway: DKK 77 million (DKK 80 million). The number of passages is largely unchanged. The decline in other income relates to the sale of Sprogø Offshore Wind Farm in 2018 where the sale of electricity totalled DKK 4 million for the same period last year. Operating expenses: DKK 81 million (DKK 83 million). Depreciation: DKK 132 million (DKK 132 million). EBIT: DKK 510 million (DKK 500 million). Interest expenses: DKK 11 million (interest income DKK 18 million). The result before value adjustments and tax is a profit of DKK 499 million (profit DKK 518 million). Value adjustments amount to an expense of DKK 161 million (income DKK 100 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 amounts to an expense of DKK 75 million (expense DKK 136 million). Changes in relation to the same period in 2018 are solely related to changes in the results. The result after tax is a profit of DKK 264 million (profit DKK 482 million) Cash flow Cash flow from operating and investing activities (free cash flow) has resulted in an improvement in liquidity of DKK 352 million. Cash flow from financing activities has resulted in a reduction in liquidity of DKK 478 million whereby A/S Storebælt’s cash at bank and in hand for the period was reduced by DKK 126 million. Outlook for 2019 The outlook for the result before financial value adjustments and tax is unchanged at a profit of approximately DKK 2,000 million. Page 2/11 23 May 2019
Download PDF fil