BroBizz Operatør A/S Annual report 3 Company objective BroBizz Operatør A/S is a 100 per cent owned subsidiary of BroBizz A/S. The company was established on 7 December 2017. BroBizz Operatør A/S is not covered by the State guarantee. BroBizz Operatør A/S was established in accordance with the Sund & Bælt Group's legal basis and can, on market terms, tender for the establishment, operation and maintenance of electronic toll systems. The company thus makes it possible to utilise the substantial knowledge and experience regarding the establishment and operation of toll systems, which have been accumulated in the Sund & Bælt Group in connection with the construction and operation of the Storebælt link. Highlights of the year The company's first task was to bid for the construction and operation of a toll system for the Crown Princess Mary's bridge across Roskilde Fjord. BroBizz Operatør A/S was awarded the tender and the contract was signed on 5 October 2018. The toll system was delivered well over a month ahead of schedule and became operational on 30 September 2019 as planned, two days after the official opening. The toll system is Denmark's first so-called free flow toll system. This means that the toll system is designed in such a way that drivers are not required to reduce their speed when driving through the toll station and the system contains no barriers. Instead, customers pay via the internet, BroBizz® or similar device, as well as through the vehicle’s number plate. BroBizz Operatør A/S can also bid on other future toll systems in connection with the establishment of user-financed infrastructure in Denmark, including other payment collection solutions such as vehicle equipment, camera recording of a vehicle's number plate, etc. Key figures, DKK 1,000 BroBizz Operatør Revenue Expenses Depreciation Operating loss (EBIT) 2019 21,370 -21,927 0 -557 2017/18 1,166 -1,180 0 -14 Financial items excl. value adjustments Loss before financial value adjustments -43 0 -600 -14 Cash flow Cash flow from operating activities is negative and totals DKK 1,613 thousand which comprises movements in current assets and current debt. Free cash flow is negative at DKK 1,613 thousand. Cash flow from financing activities is negative at DKK 43 thousand and comprises interest expenses. The company’s cash funds totalled DKK 8,353 thousand at the end of 2019. . Events after the balance sheet date Reference should be made to Outlook for 2020. Outlook for 2020 In accordance with the budget for 2020 drawn up at the end of 2019, the company expects its results before fair value adjustments and tax to amount to a profit of approximately DKK 2,000 thousand. The company’s main activity in 2020 relates to the execution of the contract relating to the Fjord Link Frederikssund. Since then the current outbreak of COVID-19 and the subsequent closure of workplaces and borders have given rise to great uncertainty about the coming year’s results. It is estimated that the company’s earnings will be affected.
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