The board of directors of Højgaard Holding A/S has today considered and
approved this annual report 2011, which follows in its entirety in Danish and
with the following summary in English. Further, at the end of the PDF file MT
Højgaard A/S´ annual report 2011 in English is included. 

Summary

  -- The Højgaard Holding group’s revenue was DKK 5.1 billion, which is in line
     with the most recent outlook and up 12 % on 2010.
  -- The MT Højgaard group recorded a loss before tax of DKK 335 million,
     compared to a profit of DKK 100 million in the previous year, and the
     pre-tax margin amounts to -3.6 % compared to 1.2 % in 2010 and is
     significantly less than the most recent outlook in the region of 0 % to -1
     %. During the final phase of the financial reporting process, the risks on
     a number of projects have been reviewed. The review has led to a need for
     further provisions to be made. The loss can primarily be attributed to
     unsatisfactory earnings in the parent company’s two business units Civil
     Engineering and Construction. Initiatives have been taken in order to
     substantially strengthen their contribution to results.
  -- The Højgaard Holding group recorded a total loss before tax of DKK 170
     million, compared to a profit of DKK 66 million in the previous year. The
     pre-tax margin amounts to -3.3 % compared to 1.5 % in 2010 which is
     significantly less than the most recent outlook in the region of
     0 % to -1 %.
  -- The Højgaard Holding group recorded a loss after tax of DKK 133 million,
     compared to a profit of DKK 42 million in 2010.
  -- For 2012 is expected a revenue on a par with 2011 and a positive pre-tax
     margin.
  -- No distribution of dividends for 2011 will be proposed.







Best regards,                                                          
Højgaard Holding A/S                                                   
Helge Israelsen                                           Berit Lovring
Chairman of the board                                    CEO           







         Contacts:
         Berit Lovring, CEO, Højgaard Holding A/S, tel. (+45) 4520 1507
         Jørgen Nicolajsen, acting president and CEO, MT Højgaard A/S, tel.
(+45) 2270 9263 
         Helge Israelsen, chairman of the board, Højgaard Holding A/S, tel.
(+45) 4520 1503