Interim Report as at 31 December 2015

The Supervisory Board of Investeringsselskabet Luxor A/S has today adopted the Interim Report as at 31 December 2015.

First quarter of the financial year:

• Basic earnings amount to DKK 8.8 million (DKK 4.5 million), which is DKK 3.7 million higher than expected. The improvement is primarily attributable to an increase in net financial income of DKK 1.8 million and an improvement of net loss/gain on mortgage deeds of DKK 1.5 million.
• The Group’s results before tax for the period show a loss of DKK 9.5 million (DKK -13.3 million). After tax, the Group shows a loss of DKK -7.4 million (DKK -10.4 million).

The results are negatively affected by DKK 18.3 million, of which DKK -16.4 million relates to net negative fair value adjustments and realised losses on bonds as a result of volatility in the bond market and a widening of the yield spread to government bonds, among other things as a consequence of exposure to the energy and commodity sectors as well as currency hedging, and DKK -1.9 million relates to other fair value adjustments etc not included in basic earnings.

• The net asset value per share in circulation is DKK 346.89 (DKK 402.38). The net asset value per share in circulation is significantly affected by the dividend distribution of DKK 50 million in January 2015, corresponding to DKK 50 per share.

Expected profit for the year 2015/16

• At present, basic earnings of approx. DKK 24.0 million are expected for the financial year 2015/16 compared to approx. DKK 20.0 million previously expected.

Fair value adjustments and losses and gains realised on bonds, foreign currencies and interest swaps, etc are not included in basic earnings and will from the beginning of the financial year until 18 February 2016 affect results for the year before tax by approx. DKK -29.8 million, of which approx. DKK -18.3 million relates to the period until 31 December 2015 and approx. DKK -11.5 million to the period 1 January to 18 February 2016.

For additional information concerning this Interim Report, please contact Jannik Rolf Larsen, Manager.

         Jannik Rolf Larsen
         tlf.: 33325015

Vedhæftede filer:

fonds.medd. 31. december 2015- engelsk.pdf