News / interim-financial-report-for-the-period-1-october-2021-31-march-2022

31.05.2022 - Company announcement

Interim financial report for the period 1 October 2021-31 March 2022

Today, the Board of Directors of Per Aarsleff Holding A/S has discussed and approved the interim financial report for the first half of the financial year 2021/22. The interim financial report has not been audited or reviewed by the company’s auditor.

Highlights from the first half of the financial year 2021/22 

  • Consolidated revenue increased by 19.3% to DKK 8,259 million
  • EBIT from continuing operations amounted to DKK 298 million, corresponding to an EBIT margin of 3.6%
  • High level of activity but the market is characterised by price increases and shortage of materials
  • Technical Solutions had a very high level of activity with high earnings and results above expectations
  • Ground Engineering delivered results below expectations as the costs of especially steel, transportation and energy continued to increase
  • Construction, Rail and Pipe Technologies delivered results in line with expectations
  • High order intake during the first half of the financial year, among other things because of the signing of the contract with Copenhagen Airport in the first quarter
  • Cash flow from operating activities was still affected by increasing working capital due to changes in the project composition
  • Aarsleff has announced that the Group will leave Russia and that the activities are accounted for as an asset held for sale. During the quarter, this has resulted in a DKK 43 million non-cash impairment of the value.

Outlook for the financial year 2021/22 

Earnings expectations for the financial year remain unchanged. EBIT from continuing operations is expected to be in the range of DKK 700 million. Revenue expectations are changed to a growth of approx. 12% against previously approx. 8.5%.