Interim Financial Report for the Period 1 October 2018-31 March 2019
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 2018/19. The interim financial report has not been audited or reviewed by the company’s auditor.
Results of the first six months
- Consolidated revenue increased by 15.2% to DKK 6,374 million.
- Operating profit (EBIT) was DKK 209 million compared to DKK 178 million in the same period last financial year. As previously informed, results were influenced by Aarsleff ’s recognition in Q1 of an unexpected arbitration loss of DKK 72 million related to the construction of a biogas plant. The company’s other day-to-day operations was above expectations, and EBIT before recognition of the arbitration loss came to DKK 281 million.
- Construction generated EBIT of DKK 126 million (H1 2017/18: DKK 117 million). The outcome of the above-mentioned arbitration proceedings was recognised in the segment in Q1 of the financial year, and EBIT before recognition of the arbitration loss amounted to DKK 198 million.
- Pipe Technologies generated EBIT of DKK 44 million (H1 2017/18: DKK 46 million).
- Ground Engineering generated EBIT of DKK 39 million (H1 2017/18: DKK 15 million).
- The Group’s net interest-bearing deposit was DKK 375 million at 31 March 2019.
Outlook for the financial year 2018/19
- The outlook for the full financial year 2018/19 is adjusted upwards to an EBIT level of DKK 480 million. In a company announcement of 16 January 2019, the outlook was changed to an EBIT level of DKK 460 million from the originally announced DKK 530 million due to the above-mentioned arbitration loss. Revenue is expected to show a growth of approx. 7% compared with last financial year, thus exceeding the previously announced revenue growth of approx. 5%.