MT Højgaard found responsible in old offshore case

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| Source: Højgaard Holding A/S
multilang-release

Enclosed please find MT Højgaard A/S’s press release of 15 April 2014 regarding MT Højgaard being found responsible in old offshore case. MT Højgaard will seek permission to appeal the ruling to The Court of Appeal, but the ruling will have a negative effect on the financial result for 2014.

The MT Højgaard Group maintains its forecast for 2014 which amounts to an operating profit (EBIT) of DKK 150-225 million before special items, corresponding to an EBIT margin of 2-3%.

Special items are now expected to amount to an expense of DKK 195 million and may still be affected by the outcome of old dispute cases, most of which are expected to be settled in 2014.

Højgaard Holding A/S holds an ownership interest of 54 % in MT Højgaard.

For 2014, in addition to our share in the MT Højgaard group’s profit after tax and non-controlling interests, the Højgaard Holding group expects a small positive result before tax.

The expectations to the future financial trends are subject to uncertainty and risks which may cause the trends to deviate from expectations.

 

 

Best regards,
Højgaard Holding A/S
 
 
Ditlev Fløistrup
CEO
 

 

 

 

         Contacts: Torben Biilmann, president and CEO, MT Højgaard, tel. +45 2270 9020
         Ditlev Fløistrup, CEO, Højgaard Holding, tel. +45 4520 1500
         Søren Bjerre-Nielsen, chairman of the board, Højgaard Holding, tel. +45 4520 1500