Today, the Board of Directors of Per Aarsleff Holding A/S has discussed and approved the interim financial report for the first six months of the financial year 2020/21. The interim financial report has not been audited or reviewed by the company’s auditor.
Highlights from the first six months of the financial year 2020/21
- Consolidated revenue increased by 6.3% to DKK 6,949 million
- EBIT amounted to DKK 310 million, corresponding to an EBIT margin of 4.5%
- Construction delivered results in line with expectations
- Ground Engineering had a very high level of activity in the past quarter, and results were above expectations
- Pipe Technologies had a good first half of the year in line with expectations. However, a strong increase in raw material costs is expected to have a negative impact on earnings in the second half of the year
- Continued stable order intake
- Cash flow in the past quarter is affected by settlement of the holiday pay liability and a large tax prepayment
- Continued limited impact from the coronavirus pandemic.
Outlook for the financial year 2020/21
The outlook for the full financial year remains unchanged. EBIT is expected to be in the range of DKK 600 million. Expectations for revenue are changed to a growth of approx. 7% against previously approx. 5%.