Interim report for the period 1/10 2015-31/3 2016

Copenhagen, 2016-05-30 12:39 CEST (GLOBE NEWSWIRE) -- Today, the Board of Directors of Per Aarsleff Holding A/S has discussed and approved the interim financial report for the first six months of the financial year 2015/2016. The interim financial report has not been audited or reviewed by the company's auditor.

Results of the first six months:

• Profit before tax came to DKK 171 million compared with DKK 190 million in the same period last financial year.
• Consolidated revenue came to DKK 4,891 million against DKK 4,798 million in the first half of last financial year, corresponding to an increase of 2%.
• Construction generated profit before interest of DKK 117 million.
• Pipe Technologies generated profit before interest of DKK 21 million.
• Ground Engineering generated profit before interest of DKK 42 million.
• The Group's net interest-bearing deposit came to DKK 56 million as at 31 March 2016.
• The equity ratio was 42% as at 31 March 2016.

Outlook for the financial year 2015/2016:

• The company now expects profit before tax of DKK 400 million for the financial year 2015/2016 compared with the previous expectations for DKK 430 million. The company now expects the total level of activity to be the same as last year compared with previous expectations for a slightly increased level of activity. 
• Overall, the first half of the financial year 2015/2016 progressed in line with expectations. As expected, the Group's total growth was 2% attributable to an increase in growth in Denmark and a decrease abroad. The second half of the financial year will e.g. be influenced by the fact that some major tenders have been postponed or not won to the expected degree and by the difficult market conditions in Eastern Europe and Russia.  We consider these circumstances as isolated or as conditions we can adjust to. 
• The Danish and Northern European market for civil works and building activities is stable at a high level allowing us to benefit from the opportunities of our business model. This allows us to continue the progress that the Group has experienced in recent years and patiently implement our plans.

Further information:
General Manager Ebbe Malte Iversen, tel. +45 8744 2222.

Vedhæftede filer:

2_kvt_2015_2016_UK.pdf