MT Højgaard’s old offshore litigations brought to an end


Enclosed please find MT Højgaard A/S’s release of 12 October 2014 regarding The MT Højgaard group being ordered to pay partial damages in recent litigation.

With this ruling and a positive ruling in another offshore case, the last of MT Højgaard's old arbitration and court cases within the offshore area have been decided. Accordingly, the MT Højgaard group expects that special items will amount to approx. DKK -400 million as opposed to previously DKK -195 million.

MT Højgaard’s management still expects an operating profit (EBIT) in 2014 of DKK 150-225 million before above special items.

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

For 2014, 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.

The projections concerning future financial performance are subject to uncertainties and risks that may result in a development that deviates substantially from what is expected.

 

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


Attachments

2014-10-12 MT Højgaards old offshore litigations brought to an end.pdf