Half-year Report
as at 31 March 2020
The Supervisory Board of Investeringsselskabet Luxor A/S has today adopted the Half-year Report as at 31 March 2020.
Second quarter 2019/20:
- Basic earnings amount to DKK 9.0 million (DKK 7.9 million).
- The Group’s profit before tax amounts to DKK 9.2 million (DKK 3.2 million).
Profit before tax for the quarter is DKK 0.2 million higher than basic earnings, primarily due to fair value adjustments of interest swaps.
Half-year 2019/20:
- Basic earnings for the half-year amount to DKK 20.7 million (DKK 15.9 million).
- The Group’s profit before tax for the half-year amounts to DKK 27.1 million (DKK 8.4 million).
Profit before tax for the half-year is DKK 6.4 million higher than basic earnings, primarily due to:
- fair value adjustments of interest swaps and mortgage credit loans of DKK 6.8 million;
- fair value adjustments of financial assets of DKK -0.4 million.
Expected basic earnings 2019/20:
- For the financial year 2019/20, basic earnings of approx. DKK 33 million are expected, which is identical with the most recent announcement made in Company Announcement No 5, 2019/20 of 21 February 2020.
- Fair value adjustments of interest swaps and financial assets are not included in basic earnings and will until 18 May 2020 affect results for the year before tax by DKK 4.6 million. The amount is distributed with DKK 6.4 million for the half-year and DKK -1.8 million for the period 1 April - 18 May 2020.
To date, the Company’s basic earnings have not been materially affected by COVID-19. The expected level of basic earnings for the year, DKK 33 million, allows for the uncertainties included in our present assessment of the situation.
The Company is to a certain extent dependent on the impact of COVID-19 on society and assesses on a current basis whether any adjustments are to be made based on this.
For additional information concerning this Half-year Report, please contact Jannik Rolf Larsen, CEO
(tel: +45 3332 5015).
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