19.12.2024 - Company announcement

Annual report for 2023/24

Today, the Board of Directors of Per Aarsleff Holding A/S has discussed and approved the company’s audited annual report for 2023/24.

The annual report in brief

A very satisfactory year with revenue increase and high earnings.
Revenue increased by 7.3% to DKK 21,719 million.
EBIT amounted to DKK 1,101 million, corresponding to an EBIT margin of 5.1%.
Order intake of DKK 23.8 billion and a continued high order backlog of DKK 24.3 billion.
Satisfactory cash flow from operating activities of DKK 1,981 million.
The proposed dividend for the financial year 2023/24 is raised to DKK 11 per share of a nominal value of DKK 2.

Aarsleff’s overall expectations for 2024/25

Revenue growth of 0-5%, corresponding to revenue of DKK 21.7-22.8 billion.
EBIT in the range of DKK 1,050-1,150 million.
Investments in property, plant and equipment exclusive of leased assets are expected to amount to approx. DKK 700-750 million.

The segments’ expectations for 2024/25

Construction

High level of activity in the construction market. Especially the projects involving district heating, new railway across West Funen and tunnel under the Fehmarn Belt. EBIT is expected to amount to DKK 470-530 million compared to DKK 524 million in 2023/24.

Technical Solutions

High level of activity in connection with the building of the large hospitals New North Zealand Hospital and Mary Elizabeth's Hospital. Still many tender opportunities, especially within the pharmaceutical industry and district heating. EBIT is expected to increase to DKK 135-145 million from DKK 124 million in 2023/24.

Rail

There was a lower level of activity in Denmark due to a more selective order acquisition, and there is focus on increasing earnings in Norway and Sweden. EBIT is expected to decrease slightly to DKK 70-80 million from DKK 88 million in 2023/24.

Ground Engineering

Continued high level of activity within infrastructure projects. Increasing level of activity within ground engineering work related to the railway electrification. EBIT is expected to increase to DKK 200-210 million from DKK 190 million in 2023/24.

Pipe Technologies

Good level of activity in all significant markets. EBIT is expected to amount to DKK 175-185 million against DKK 175 million in 2023/24.

Group CEO of Aarsleff, Jesper Kristian Jacobsen, says:

“Also this year, the Aarsleff Group presents all-time high results with an EBIT margin that exceeds the 5% target. We have had a high order intake, ranging from many small and medium-sized projects to very large projects such as Lynetteholm in Copenhagen and roll-out of district heating in North Sealand. Aarsleff delivers strong results, a sound balance sheet and many talented employees whose skills are in high demand in the market.”

The annual report is published via Nasdaq Copenhagen A/S and attached to this announcement. It is also available on www.aarsleff.com.

Annual report and ESG reporting 2023-24