RESUMÉ Financial results (figures for the corresponding period in 2016 are given in parenthesis). Road revenue: DKK 692 million (DKK 662 million). Compared to 2016, road revenue from the Storebælt fixed link increased by 4.5 per cent. The increase can partly be explained by traffic growth of 4.7 per cent (not adjusted for the leap year day, traffic growth amounts to 3.5 per cent), and partly by a small increase in toll charges with effect from 1 January 2017. Revenue from the railway: DKK 85 million (DKK 90 million). The fall is due to a decline in the number of trains using the link. Operating expenses: DKK 86 million (DKK 85 million). Depreciation: DKK 134 million (DKK 137 million). EBIT: DKK 569 million (DKK 545 million). Interest expenses: DKK 97 million (DKK 52 million). The increase is due to inflation. The result before value adjustments and tax is a profit of DKK 472 million (profit DKK 493 million. Value adjustments: income DKK 337 million (expense DKK 179 million). This includes the fair value adjustment of net financials at an income of DKK 338 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 178 million (expense DKK 69 million). Changes in relation to the same period in 2016 are solely related to changes in the results. The result after tax is a profit of DKK 631 million (profit DKK 245 million). Cash flow Cash flow from operating and investing activities (free cash flow) has resulted in a rise in liquidity of DKK 422 million. Cash flow from financing activities has resulted in a net fall in liquidity of DKK 228 million whereby A/S Storebælt’s cash at bank and in hand for the period saw a net increase of DKK 214 million. Outlook for 2017 The outlook before financial value adjustments and tax remains unchanged at a profit of approximately DKK 2 billion. Page 2/9 22 May 2017
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