Today, the Board of Directors of Per Aarsleff Holding A/S has discussed and approved the company’s audited annual report for 2020/21.
Highlights:
- Revenue increased by 10.5% to DKK 14,694 million.
- EBIT amounted to DKK 648 million, corresponding to an EBIT margin of 4.4%.
- Construction generated EBIT of DKK 308 million which was slightly below expectations.
- Ground Engineering generated EBIT of DKK 164 million which is in line with expectations.
- Pipe Technologies generated EBIT of DKK 176 million which is the segment’s highest result ever.
- Stable order intake of DKK 14,259 million.
- Satisfactory cash flow from operating activities of DKK 471 million.
- An increase of the dividend is proposed to DKK 8 per share of a nominal value of DKK 2 for the financial year 2020/21.
Outlook for 2021/22:
To improve the insight into the development of the Construction segment, the segment is split into three reporting entities which are Construction, Technical Solutions and Rail. There will be no changes to the Pipe Technologies and Ground Engineering segments. There will thus be five reporting entities in future.
- Revenue growth of 8.5%. The growth is inclusive of Permagreen Grønland A/S.
- EBIT in the range of DKK 700 million, corresponding to an EBIT margin of 4.4%.
- High share of the order backlog for execution in the financial year.
- Construction expects a 12% revenue increase compared with last financial year, and an EBIT margin of 3.8%.
- Technical Solutions expects a 5% revenue increase compared with last financial year, and an EBIT margin of 2.5%.
- Rail expects a 13% revenue increase compared with last financial year, and an EBIT margin of 4.4%.
- Ground Engineering expects a 5% revenue increase compared with last financial year, and an EBIT margin of 5.5%.
- Pipe Technologies expects a 3% revenue increase compared with last financial year, and an EBIT margin of 6.5%.
- Continued great uncertainty about the development in the prices of raw materials and the availability of critical materials and components supporting the production.
- Investments in property, plant and equipment exclusive of leased assets are expected to amount to approx. DKK 750 million compared to DKK 639 million last financial year. The high investment level is attributable to large investments in a new shared office in Taastrup for Wicotec Kirkebjerg A/S and Petri & Haugsted AS, establishment of a new pile factory in Skåne, Sweden as well as investment in Ground Engineering’s new product, a threaded pile.
Jesper Kristian Jacobsen, CEO of Per Aarsleff Holding A/S, says:
“For the third year running, the Aarsleff Group delivers all-time high results.It has been an unusual year characterised by a very high level of activity, and like the other companies in the building and construction industry, we have managed to maintain normal operations during the coronavirus pandemic while being challenged by local restrictions imposed in each of our European markets. Therefore, we are delighted to present all-time high results for the Aarsleff Group – on the top line as well as on the bottom line. These results were only achieved because our many dedicated employees have made an extraordinary effort. We are in a strong position in the future years. Our present order backlog is good, and our order intake is stable. Also, several interesting, large-scale projects are in the pipeline in Denmark, some of them resulting from the Danish government’s infrastructure plan.”
The annual report is published via Nasdaq Copenhagen A/S and attached to this announcement. It is also available on www.aarsleff.com.