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 31 March 2017.
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 has today made public.
Highlights and key figures for the Højgaard Holding group are:
2017 2016 2016
DKK million 1st quarter 1st quarter Full year
Revenue 19.5 17.8 75.6
MT Højgaard group
(after tax and minority interests) -13.2 -11.6 -6.9
Højgaard Industri A/S 4.1 2.8 13.4
Højgaard Holding A/S -1.7 -1.4 -5.1
Profit before tax -10.8 -10.2 1.4
Tax on profit 0.5 0.3 1.9
Profit after tax -11.3 -10.5 -0.5
Investments in jointly controlled enterprise 496.2 503.8 508.5
Equity, beginning of year 468.3 471.8 471.8
Profit after tax -11.3 -10.5 -0.5
Other comprehensive income in
jointly controlled enterprise 1.0 -4.0 -3.0
Other 0.0 1.1 0.0
Equity, end of year 458.0 458.4 468.3
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 -2.7 -2.5 -0.1
Book value per share, DKK 109 109 111
Share price at end of period, A-shares 241 354 239
Share price at end of period, B-shares 233 360 224
Total market value, DKK million 1,004 1,495 988
Return on equity (%) -2 -2 0
The key figures have been calculated in accordance with the Danish Finance Society’s “Recommendations & Financial Ratios 2015”. The definition of the key figures applied can be seen from the annual report for 2016.
Results for Højgaard Holding and Højgaard Industri for the first quarter are in line with expectations.
Højgaard Holding A/S’ own cash resources are considered satisfactory.
The group recorded a loss before tax of DKK 11 million, compared to a loss of DKK 10 million for the same period in the previous year. The slightly lower results, compared to the same period last year, can be attributed to lower results in the jointly controlled enterprise MT Højgaard.
The group’s equity stood at DKK 458 million at 31 March 2017, and the book value corresponds to DKK 109 per share of DKK 20.
The MT Højgaard group still expects revenue at the level of DKK 7.2 billion and an operating profit before special items at the level of DKK 150-200 million.
For 2017, 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 |
Contacts:
Ditlev Fløistrup, CEO, Højgaard Holding, tel. +45 4520 1500
Torben Biilmann, CEO, MT Højgaard, tel. +45 2270 9020
Søren Bjerre-Nielsen, chairman of the board, Højgaard Holding, tel. +45 4520 1500