Interim Report
as at 30 June 2018
The Supervisory Board of Investeringsselskabet Luxor A/S has today adopted the Interim Report as at 30 June 2018.
Third quarter 2017/18:
- Basic earnings amount to DKK 9.2 million (DKK 5.8 million).
The higher basic earnings are primarily attributable to:
- lower losses and provisions relating to mortgage deeds (DKK 1.7 million)
- an increase in net income from investment properties (DKK 1.6 million)
- an increase in net interest income (DKK 0.7 million)
- The Group’s profit before tax amounts to DKK 6.4 million (DKK -0.9 million).
Interim period 2017/18:
- Basic earnings for the period amount to DKK 18.4 million (DKK 18.9 million).
- The Group’s results before tax for the period show a profit of DKK 15.8 million (DKK 22.5 million).
Results before tax for the period are negatively affected by fair value adjustments and losses relating to bonds and shares as well as interest swaps of DKK 2.6 million; similarly, results before tax for the period 2016/17 were positively affected by DKK 3.6 million. Adjusted for these items, profit before tax amounts to DKK 18.4 million for the period 2017/18 compared to DKK 18.9 million for the period 2016/17.
Expected basic earnings 2017/18:
- For the financial year 2017/18, basic earnings in line with the financial year 2016/17 are expected (DKK 24.9 million), which is in accordance with the most recent announcement made in Company Announcement No 5, 2017/18 of 28 May 2018.
Fair value adjustments of bonds, foreign currencies and interest swaps, etc are not included in basic earnings and will from the beginning of the financial year until 16 August 2018 affect results for the year before tax negatively by DKK 2.1 million. The amount is distributed with DKK -2.6 million for the period and DKK 0.5 million for the period 1 July to 16 August 2018.
For additional information concerning this Interim Report, please contact Jannik Rolf Larsen, CEO
(tel: +45 33325015).
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