Financial highlights
- Resilient financial performance in first half year (H1) despite the economic downturn.
- Operation successively adapted to prevailing market conditions.
- Strong financial position as almost net debt free and with funding facility of DKK 1 billion.
- Gross revenue of DKK 2,830 million was 4% higher than H1 2008 at constant exchange rates.
- Organic growth was 2%, acquisitive growth 2% and foreign exchange effect -5%.
- Operating profit before amortisation (EBITA) was DKK 176 million.
- EBITA margin was 6.2% compared to 8.0% in H1 2008.
- Profit before tax was DKK 122 million.
- Number of employees of 8,763 was higher than at H1 2008 (8,372), but lower than at year-end 2008 (8,848).
- Cash conversion was 45% compared to 27% in H1 2008.
- Total equity was DKK 1 billion, leading to an equity ratio of 32%.
- The order book was on same level as at the end of 2008.
- Major new wins include the Fehmarn Belt tunnel, Nordholmene and IT services to UNI-C.
- Remainder of 2009 expected to be as challenging as the first half year.
