News / interim-report-for-the-period-1-october-31-december-2018

26.02.2019 - Company announcement

Interim report for the period 1 October-31 December 2018

Today, the Board of Directors of Per Aarsleff Holding A/S has discussed and approved the interim financial report for Q1 of the financial year 2018/19. The interim financial report has not been audited or reviewed by the company’s auditor.

Q1 results

  • Consolidated revenue increased by 12.9% to DKK 3,389 million.
  • Operating profit (EBIT) amounted to DKK 94 million compared to DKK 107 million in Q1 of last financial year. Results were influenced by Aarsleff ’s unexpected arbitration loss of DKK 72 million related to the construction of a biogas plant. The company’s other operations exceeded expectations, and EBIT before recognition of the arbitration loss was DKK 166 million.
  • Construction generated EBIT of DKK 33 million (Q1 2017/18: DKK 67 million). The outcome of the above-mentioned arbitration proceedings was recognised in the segment results, and EBIT before recognition of the arbitration loss was DKK 105 million.
  • Pipe Technologies generated EBIT of DKK 38 million (Q1 2017/18: DKK 39 million).
  • Ground Engineering generated EBIT of DKK 23 million (Q1 2017/18: DKK 1 million).
  • The Group’s net interest-bearing deposit came to DKK 405 million as at 31 December 2018.

Outlook for the financial year 2018/19

  • In a company announcement of 16 January 2019, the outlook for the full financial year 2018/19 was changed to an EBIT level of DKK 460 million from the previous outlook of DKK 530 million due to the above-mentioned arbitration loss. EBIT expectations before recognition of the arbitration loss remain unchanged at DKK 530 million. Revenue is maintained at an expected level of growth of approx. 5% compared with last financial year.