Interim Report for the period 1 October 2011-30 June 2012

Today, the Board of Directors of Per Aarsleff A/S has discussed and approved the interim report for the first nine months of the financial year 2011/2012. The interim report has not been audited or reviewed by the company’s auditor. 

Results of the first nine months:

• Profit before tax came to DKK 112 million compared to DKK 88 million in the same period last financial year.
• Consolidated revenue came to DKK 4,905 million.
• Construction reported profit before interest of DKK 67 million.
• Pipe Technologies reported profit before interest of DKK 46 million.
• Piling reported profit before interest of DKK 12 million.

Outlook for the financial year 2011/2012: 

• The company now expects profit before tax of DKK 160 million for the financial year 2011/2012 compared to the previous estimate of DKK 180 million. The downward adjustment is attributable to significantly more difficult conditions for some of Piling’s foreign activities than expected at the beginning of the financial year. The amount of the adjustment corresponds to a not forecasted impairment of land and buildings in Piling's UK-based subsidiary as a result of continued difficult operations.