31.08.2011 - Company announcement

Interim Report for the period 1 October 2010-30 June 2011

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

Results of the first nine months:

• Profit before tax came to DKK 88 million and is slightly below expectations.
• Consolidated revenue came to DKK 4,369 million.
• In Construction, profit before interest came to DKK 15 million.
• In Pipe Technologies, profit before interest came to DKK 33 million.
• In Piling, profit before interest came to DKK 52 million.
• The free cash flow of the Group was negative at DKK 185 million.

Outlook for the financial year 2010/2011:

• The company maintains its expectations for a profit before tax of DKK 120 million for the financial year 2010/2011.
• Revenue is expected to be significantly higher than the 2009/2010 level.
• At 30 June 2011, 22 out of a total of 177 foundations have been installed for the London Array Offshore Wind Farm, and the project's contribution to the expected results continues to be conservatively assessed.