The board of directors of Højgaard Holding A/S has today considered and approved the consolidated financial statements for the period from 1 January to 30 September 2018.
Højgaard Holding A/S’ main asset is the 54 % ownership share of MT Højgaard A/S. For further details regarding MT Højgaard, reference is made to MT Højgaard’s interim report which Højgaard Holding today make public.
Highlights and key figures for the Højgaard Holding group are:
2018 2017 2017
DKK million 3rd quarter 3rd quarter Full year
Revenue 41.4 45.8 59.8
MT Højgaard group
(after tax and minority interests) -336.6 -41.5 -45.5
Højgaard Industri A/S 7.0 9.3 12.0
Højgaard Holding A/S -4.2 -3.4 -4.6
Profit before tax -333.8 -35.6 -38.1
Tax on profit 0.6 1.3 1.7
Profit after tax -334.4 -36.9 -39.8
Investments in jointly controlled enterprise 126.0 467.3 462.2
Equity, beginning of year 427.6 468.3 468.3
Profit after tax -334.4 -36.9 -39.8
Other comprehensive income in
jointly controlled enterprise 0.6 0.4 0.0
Other 0.0 0.0 -0.9
Equity, end of year 93.8 431.8 427.6
Total Assets 151.7 487.3 482.4
Average and end of period number of shares, million 4.2 4.2 4.2
Earnings and diluted earnings after tax
per share (EPS and EPS-D), DKK -79.5 -8.8 -9.5
Book value per share, DKK 22 103 102
Share price at end of period, A-shares 106 199 172
Share price at end of period, B-shares 97 199 174
Total market value, DKK million 436 837 728
Return on equity (%) -128 -8 -9
The key figures have been calculated in accordance with the Danish Finance Society’s recommendations. The definition of the key figures applied can be seen from the annual report for 2017.
Results for Højgaard Holding and Højgaard Industri for the first three quarters are in line with expectations.
Højgaard Holding A/S’ own cash resources are considered satisfactory.
The group recorded a loss before tax of DKK 334 million, compared to a loss of DKK 36 million for the same period in the previous year. The lower results, compared to the same period last year, can primarily be attributed to a lower result in the jointly controlled enterprise MT Højgaard.
The group’s equity stood at DKK 94 million at 30 September 2018, and the book value corresponds to DKK 22 per share of DKK 20.
For the full 2018, the MT Højgaard group previously expected revenue at the level of DKK 6.8 billion and an EBIT around DKK - 400 million.
This has now been adjusted to an EBIT around DKK - 550 million. Expected revenue is unchanged compared to earlier.
For 2018, in addition to our 54 % share in the MT Højgaard group’s profit after tax and minority interests, the Højgaard Holding group still expects a small positive result before tax.
| Best regards, Højgaard Holding A/S Søren Bjerre-Nielsen Ditlev Fløistrup Chairman of the board CEO |
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