25.02.2011 - Company announcement

Interim report for the period 1 October-31 December 2010

Today, the Board of Directors of Per Aarsleff A/S has discussed and approved the interim report for the first quarter of the financial year 2010/2011. The interim report has not been audited or reviewed by the company’s auditors. 

First quarter results:

• The profit before tax came to DKK 48 million compared to DKK 33 million in the first quarter of last financial year.
• Consolidated revenue reached DKK 1,377 million.
• Construction contributed profit before interest of DKK 6 million.
• Pipe Technologies contributed profit before interest of DKK 30 million.
• Piling contributed profit before interest of DKK 17 million.
• The free cash flow of the Group is DKK 17 million.

Outlook for the financial year 2010/2011:

• As announced in the 2009/2010 annual report, the company maintains its expectations for a profit before tax of DKK 120 million for the financial year 2010/2011.
  
  The market will continue to be characterised by keen competition. Revenue, however, is expected to be significantly higher than the 2009/2010 level and is positively influenced by the activity of establishing the London Array Offshore Wind Farm but still influenced by the downturn in economy and the keen competition within general civil engineering work.