Summary of Q1 2021 The Board of Directors has today approved the interim report for Q1 2021 (1 January-31 March 2021) for A/S Storebælt. The auditors appointed by the Annual General Meeting have not conducted a review of the interim report. Financial headlines Net revenue totals DKK 637 million, which is a fall of DKK 40 million, i.e. 6 per cent, compared to the same period last year. The decline in revenue can primarily be attributed to the impact of the Covid-19 pandemic. Road traffic across Storebælt declined by 14.9 per cent compared to the same period last year. However, whereas passenger traffic fell by 18.1 per cent, lorry traffic increased by 4.4 per cent. Other external expenses total DKK 75 million and are DKK 9 million lower compared to the same period last year. EBIT fell by 6 per cent and totals DKK 428 million. Net financing expenses increased by DKK 5 million compared to the same period in 2020 and total DKK 25 million. Value adjustments amount to gains of DKK 217 million. For the same period in 2020, value adjustments amounted to gains of DKK 414 million. Fair value adjustments are an accounting item with no effect on the company’s debt repayment as the debt is repaid at nominal value. The interest-bearing net debt amounted to DKK 18.3 billion at the end of March 2021. Additions for the period for the road and rail link in progress total DKK 20 million. The additions primarily relate to the installation of mobile crash barriers and a comprehensive upgrading of signage and traffic monitoring, which will help to increase safety and improve traffic flow in the event of accidents. Additions on property, plant and equipment in use total DKK 37 million and can primarily be attributed to an upgrading of the power supply with new safety relays and contacts in the Storebælt tunnel. Cash flow from operating and investing activities (free cash flow) resulted in a net decrease in liquidity of DKK 212 million. Cash flow from financing activities resulted in a net increase in liquidity of DKK 509 mil lion, whereby cash at bank and in hand for the period increased by DKK 297 million.
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