GlobeNewswire by notified

MT Højgaard Holding A/S: Significant growth in Danish core business in Q1-Q3

Share

FINANCIAL RESULTS Q1-Q3 2023

The profitability of the Danish core business continued its upward trend. However, Group results were negatively impacted by a substantial loss generated by MT Højgaard International, whose remaining activities in the North Atlantic region have now been put up for sale.

  • Group revenue rose by 23% to around DKK 7.5 billion, and operating profit before special items decreased by 43% to DKK 95 million due to an operating loss of DKK 185 million in MT Højgaard International.
  • The revenue of the Danish core business – MT Højgaard Danmark, Enemærke & Petersen and MT Højgaard Property Development – increased by 26% to around DKK 7 billion. The operating profit improved by 59% to DKK 280 million, and the operating margin rose to 4.0% from 3.2%.
  • The result from continuing operations was a loss of 2 million compared to a profit of DKK 65 million last year. The decrease was due to the operating loss recorded by MT Højgaard International and write-downs in the business unit.
  • Cash inflow generated by operating activities improved to DKK 426 million, compared with DKK 18 million last year.
  • Interest-bearing debt was DKK 221 million, down from DKK 523 million last year.

INCREASING ORDER BOOK

The order book grew during the first nine months in spite of a more challenging market:

  • The order book rose by 16% to DKK 14.3 billion. To this figure should be added orders awarded but not yet contracted and contributions from strategic construction partnerships and joint ventures.
  • At DKK 7.9 billion, order intake reached the same level as last year. This was due to projects being postponed from the third to the fourth quarter and the fact that the business units maintained a cautious approach in order to ensure profitable growth in a market characterised by fiercer price competition.

OUTLOOK FOR 2023

On 27 October, MT Højgaard revised the financial outlook for 2023 after having reclassified MT Højgaard International as discontinuing operations. This outlook is maintained:

  • Revenue is expected to increase to DKK 9.5-10.0 billion.
  • Operating profit before special items is expected to be around DKK 400 million.
  • Earnings from the Danish core business are expected to improve as a result of higher revenue.
  • MT Højgaard International’s operating result will be recorded as “profit/(loss) from discontinuing operations” together with Scandi Byg and the effect of the earn-out agreement from the sale of Ajos in 2021.

“The positive trend continues for our Danish core business with double-digit growth in revenue and earnings, in spite of more challenging market conditions as expected. Our order book is healthy, and we are delivering on our strategic priorities. With the planned sale of the last of our international activities in the North Atlantic region, we bring ourselves in a position where we can invest all our efforts in further developing the Danish core business,” says CEO Henrik Mielke.

Contact: CEO Henrik Mielke and CFO Rasmus Untidt can be contacted through Louise Lykke at telephone +45 2270 9300.

Henrik Mielke and Rasmus Untidt will be presenting the interim financial report at a teleconference today (10 November 2023) at 10.00 am (CET). The teleconference can be followed live here (in Danish).

Attachments

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Iveco Group signs a 150 million euro term loan facility with Cassa Depositi e Prestiti to support investments in research, development and innovation11.6.2024 12:00:00 CEST | Press release

Turin, 11th June 2024. Iveco Group N.V. (EXM: IVG), a global automotive leader active in the Commercial & Specialty Vehicles, Powertrain and related Financial Services arenas, has successfully signed a term loan facility of 150 million euros with Cassa Depositi e Prestiti (CDP), for the creation of new projects in Italy dedicated to research, development and innovation. In detail, through the resources made available by CDP, Iveco Group will develop innovative technologies and architectures in the field of electric propulsion and further develop solutions for autonomous driving, digitalisation and vehicle connectivity aimed at increasing efficiency, safety, driving comfort and productivity. The financed investments, which will have a 5-year amortising profile, will be made by Iveco Group in Italy by the end of 2025. Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a

DSV, 1115 - SHARE BUYBACK IN DSV A/S11.6.2024 11:22:17 CEST | Press release

Company Announcement No. 1115 On 24 April 2024, we initiated a share buyback programme, as described in Company Announcement No. 1104. According to the programme, the company will in the period from 24 April 2024 until 23 July 2024 purchase own shares up to a maximum value of DKK 1,000 million, and no more than 1,700,000 shares, corresponding to 0.79% of the share capital at commencement of the programme. The programme has been implemented in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (“MAR”) (save for the rules on share buyback programmes set out in MAR article 5) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules. Trading dayNumber of shares bought backAverage transaction priceAmount DKKAccumulated trading for days 1-25478,1001,023.01489,100,86026:3 June 20247,0001,050.597,354,13027:4 June 20245,0001,055.705,278,50028:6 June20243,0001,096.273,288,81029:7 June 20244,0001,106.174,424,68

Landsbankinn hf.: Offering of covered bonds11.6.2024 11:16:36 CEST | Press release

Landsbankinn will offer covered bonds for sale via auction held on Thursday 13 June at 15:00. An inflation-linked series, LBANK CBI 30, will be offered for sale. In connection with the auction, a covered bond exchange offering will take place, where holders of the inflation-linked series LBANK CBI 24 can sell the covered bonds in the series against covered bonds bought in the above-mentioned auction. The clean price of the bonds is predefined at 99,594. Expected settlement date is 20 June 2024. Covered bonds issued by Landsbankinn are rated A+ with stable outlook by S&P Global Ratings. Landsbankinn Capital Markets will manage the auction. For further information, please call +354 410 7330 or email verdbrefamidlun@landsbankinn.is.

Relay42 unlocks customer intelligence with a new insights and reporting module, powered by Amazon QuickSight11.6.2024 11:00:00 CEST | Press release

AMSTERDAM, June 11, 2024 (GLOBE NEWSWIRE) -- Relay42, a leading European Customer Data Platform (CDP), is leveraging Amazon QuickSight to power its new real-time customer intelligence, reporting, and dashboard module. Harnessing the breadth and quality of customer data, the new Insights module empowers marketing teams to dive deep into customer behaviors and gain invaluable insights into the performance of their marketing programs across all online, offline, paid, and owned marketing channels. Preview of the Relay42 Insights module, in pre-beta version Key capabilities of the Relay42 Insights module include: Deep insights into customer behaviors: With the Relay42 Insights module, marketers can ask unlimited questions about their data and gain a deeper understanding of how to serve their customers more effectively. Simplicity with AI-powered querying: Marketers can use artificial intelligence to query their data using natural language search, reducing the reliance on data scientists. Us

Metasphere Labs Announces X Spaces Event on the Topic of Green Bitcoin Mining and Sound Money for Sustainability11.6.2024 10:30:00 CEST | Press release

VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere Labs" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is thrilled to announce an engaging Twitter Spaces event on Green Bitcoin mining, energy markets, and sustainability on July 3, 2024 at 2 p.m. ET. Follow us on X at MetasphereLabs for updates and to join the event. What We'll Discuss Bitcoin Mining Basics: Understand the fundamentals of Bitcoin mining.Energy Market Dynamics: Explore how Bitcoin mining interacts with energy markets.Sustainable Innovations: Learn about our efforts to promote sustainability in Bitcoin mining.Sound Money: Discover how tamper-proof currency can enhance stability.Efficient Payment Rails: See how fast, neutral payment systems support humanitarian projects.Carbon Footprint: Compare Bitcoin's environmental impact with traditional banking. "We're excited to host this event and dive into the critical topics of Bitcoin

HiddenA line styled icon from Orion Icon Library.Eye