Today, the Board of Directors of Per Aarsleff Holding A/S has discussed and approved the interim financial report for the first nine months of the financial year 2018/19. The interim financial report has not been audited or reviewed by the company’s auditor.
Results for the first nine months
- Consolidated revenue increased by 13.3% to DKK 9,995 million.
- Operating profit (EBIT) came to DKK 377 million compared to DKK 343 million in the first nine months of last financial year and was in line with previously announced earnings expectations. 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. EBIT before recognition of the arbitration loss was DKK 449 million.
- Construction generated EBIT of DKK 229 million (nine months 2017/18: DKK 219 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 was DKK 301 million.
- Pipe Technologies generated EBIT of DKK 66 million (nine months 2017/18: DKK 76 million).
- Ground Engineering generated EBIT of DKK 82 million (nine months 2017/18: DKK 48 million).
- Cash flows from operating activities amounted to DKK 803 million (nine months 2017/18: DKK 384 million).
- The Group’s net interest-bearing deposit came to DKK 384 million at 30 June 2019.
Outlook for the financial year 2018/19
- We maintain our expectations for an EBIT in the range of DKK 480 million for the financial year. Revenue expectations are changed to a growth of approx. 10% against previously approx. 7%.