Announcement to NASDAQ OMX Copenhagen A/S

Today, the Board of Directors of Per Aarsleff A/S has discussed and approved the interim report for the first quarter of the financial year 2009/2010. The interim report has not been audited or reviewed by the company’s auditors.

First quarter results:

• The profit before tax came to DKK 33 million and was below expectations at the beginning of the financial year.
• Consolidated revenue reached DKK 1,178 million.
• Construction contributed profit before interest of DKK 14 million.
• Pipe Technologies contributed profit before interest of DKK 34 million.
• Piling contributed a loss before interest of DKK 12 million.
• Liquidity has improved by DKK 45 million. 

Outlook for the financial year 2009/2010: 

• The general economic downturn has impacted activity and results of the first quarter of the financial year more than expected in Construction and Piling. This effect is expected to continue during the rest of the financial year 2009/2010. Second quarter results will be significantly influenced by the hard winter weather, resulting in a revenue loss which cannot yet be estimated. The company now expects to report results before tax of DKK 80-100 million for the financial year as a whole against DKK 140 million as previously announced and a lower level of activity compared with 2008/2009.