Today the Board of Per Aarsleff A/S has discussed and approved the company's report for the first six months of the financial year 2002/2003.

The interim result of the company before tax amounts to DKK10.1 million compared to DKK21.4 million last year.

The DKK10.1 million result is less than expected. In the quarterly report for the period 1 October - 31 December 2002, published 27 February 2003, the company expected the second quarter of the financial year to produce a loss. The result before tax was a negative DKK24.0 million. For this quarter Construction, Piling and Pipe Technologies contribute results smaller than expected.

On 8 May 2003 the company published a notification to the Stock Exchange on readjustment of the outlook for the profit for the financial year 2002/2003. At the beginning of the year and after the first quarter the outlook for the year was for a profit after tax at DKK80 million. The outlook was readjusted to a profit before tax at DKK40 to DKK50 million. The changed outlook is caused by our activities within pipe rehabilitation and piling being affected by adverse market conditions, and by the wind turbine foundation project at Rødsand contributing less than expected. 

Group turnover came to DKK1,540 million against DKK1,347 million last year. Exports including shares from associated companies amount to DKK529 million compared to DKK510 million last year.