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. Growth in traffic was 2.0 per cent compared to the same period in 2018. Revenue from the railway: DKK 87 million (DKK 96 million). As part of the adoption of the Finance Act 2016, it was decided that the fees for the rail companies’ use of the Øresund railway should be reduced over a number of years. Other income: DKK 19 million (DKK 20 million). Operating expenses: DKK 104 million (DKK 104 million). Depreciation: DKK 199 million (DKK 205 million). EBIT: DKK 440 million (DKK 430 million). Interest expenses: DKK 40 million (income of DKK 2 million). The rise in expenses is largely due to inflation being higher in 2019. Value adjustments: expense of DKK 1,088 million (income of DKK 197 million). The fair value adjustments are an accounting item with no effect on the company’s debt repayment because the debt is repaid at nominal value. The share of the result from Øresundsbro Konsortiet I/S: income of DKK 31 million (income DKK 224 million). The difference in the result for Øresundsbro Konsortiet I/S compared to the same period last year is primarily due to a negative difference on value adjustments of approx. DKK 200 million. The result before value adjustments and tax is a profit of DKK 536 million (profit DKK 561 million) including the share of the profit in Øresundsbro Konsortiet I/S. Tax amounts to an income of DKK 145 million (expense DKK 188 million). The changes in relation to the same period in 2018 are solely related to changes in the result. The financial result after tax is a loss of DKK 513 million (profit DKK 666 million). Cash flow Cash flow from operating and investing activities (free cash flow) has resulted in a net fall in liquidity of DKK 2,642 million. Cash flow from financing activities has resulted in a net rise in liquidity of DKK 3,265 million whereby the Group’s cash at bank and in hand for the period saw a net increase of DKK 623 million. Outlook for 2019 The outlook for the result before financial value adjustments and tax is unchanged at a profit within the range of DKK 2,000-DKK 2,150 million. Page 2/39 23 May 2019
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