Sund & Bælt Partner A/S Annual report 3 Company objective Sund & Bælt Partner A/S puts knowledge at the disposal of other infrastructure owners in Denmark and the rest of the world by providing advice, digital tools and unique insight into financing, construction, operation and maintenance of major infrastructure projects such as bridges, tunnels, railways and motorways. The services are based on the bridge companies’ more than 20 years’ experience and knowledge, including digital tools, which have been developed to bring about improvements in efficiency and quality in the operation of Sund & Bælt Holding A/S’ existing infrastructure. Sund & Bælt Partner A/S’ strategy for the sale of technical services is to create a digital sales network through its partners’ existing sales team and digital platforms. Sund & Bælt Partner A/S enters into co-operation agreements aimed at developing methods and services that can optimise the operation of both Sund & Bælt Holding A/S’ operating companies and other operators around the world. The co-operation agreements are primarily used for two purposes. 1) Intellectual Property (IP) management for the development and testing of a given service or product. 2) Development of common sales and marketing. In certain cases, the service/product will be 100 per cent owned by Sund & Bælt Holding A/S and in others, Sund & Bælt Holding A/S will be paid through a licence agreement. The wish to share knowledge with others has so far been achieved through traditional, resource-intensive consultancy services and has therefore been very limited since the same resources are also our own operating experts. In order to share knowledge to a greater extent than before, human know-how is being converted into digital tools and services. We have thus made knowledgesharing scalable and accessible to everyone. Highlights of the year In 2019, Sund & Bælt Partner A/S entered into a number of cooperation agreements. For example, Sund & Bælt Partner A/S makes its knowledge available to the Swiss Sacertis for the development of a risk and asset management system, Civil Engineering Assistant (CEA). The system will ensure greater safety and more efficient operation of bridges and tunnels in Europe and the rest of the world. In addition, similar co-operation agreements have been entered into with IBM, KPMG and Microsoft. The objective is for the co-operation agreements to result in specific digital services and tools and have a positive impact on revenue for 2020. The main activity for generating revenue for the company in 2019 was the sale of financial management services to Metroselskabet, CPH City & Port Development Corporation, Greater Copenhagen Light Rail and the Fjord Link Frederikssund. Revenue from here was on a par with that for 2018. The market seems to be demanding new consultancy services within digitalisation and the use of Big Data and Artificial Intelligence. The first agreement in this area has been signed. This will be part of a preliminary analysis for a major international bridge project. Key figures, DKK 1,000 Partner Revenue Expenses Depreciation Operating profit/loss (EBIT) Financial items Profit/loss before financial value adjustments 2019 4,967 -4,651 0 316 -64 252 2018 4,878 -5,004 0 -126 -56 -182 Sund & Bælt Partner A/S is a 100 per cent owned subsidiary of Sund & Bælt Holding A/S. Sund & Bælt Partner A/S is not covered by the State guarantee. Cash flow Cash flow from operating activities is positive and totals DKK 232 thousand, which comprises changes in current assets and current debt. Cash flow from investing activities is positive at DKK 0 thousand. Free cash flow is positive at DKK 232 thousand. Cash flow from financing activities is negative at DKK 64 thousand and comprises interest expenses. The company’s cash funds amounted to DKK 11,230 thousand at the end of 2019. Events after the balance sheet date There are no events after the balance sheet date that are of significance to the Annual Report for 2019. Outlook for 2020 According to the budget for 2020 drawn up at the end of 2019, the company expects a profit before fair value adjustments and tax in line with that for 2019. The current outbreak of COVID-19 is not expected to have an influence on the outlook for the year’s results.
Download PDF fil