Announcement No 2 2013/14
The Supervisory Board of Investeringsselskabet Luxor A/S has today considered and adopted the Company’s Annual Report for 2012/13.
Comments to the Annual Report:
- The Group’s results before tax for the financial year show a profit of DKK 14.4 million (DKK 0.5 million). After tax, the Group’s profit amounts to DKK 10.3 million (DKK 1.1 million). The results are influenced by negative fair value adjustments and realised losses on securities of DKK 0.9 million (DKK -5.6 million) as well as positive fair value adjustments of debt to credit institutions, mortgage debt and interest swaps of DKK 6.6 million (DKK 0.7 million). The Group’s results before tax are in accordance with the announcement of 22 November 2013.
- Basic earnings for the financial year decreased from DKK 8.6 million to DKK 4.9 million. The decrease is primarily due to lower net interest on mortgage deeds and bonds.
- Net asset value per share in circulation is DKK 407.6 (DKK 397.3).
- The Supervisory Board proposes to the General Meeting that dividend of DKK 6.0 million (DKK 0.0 million) be distributed, corresponding to DKK 6.0 (DKK 0.0) per share.
- For the coming financial year 2013/14, a profit before tax of DKK 12.0 - 17.0 million is expected. The expected profit for the year includes basic earnings of DKK 12.0 - 16.0 million.
Fourth quarter of the financial year 2012/13:
- The Group’s results before tax for the fourth quarter of the financial year 2012/13 show a profit of DKK 8.4 million (DKK 7.6 million). After tax, the Group’s profit amounts to DKK 6.1 million (DKK 6.1 million).
- The results for the quarter are influenced by net negative fair value adjustments and realised losses on securities of DKK -1.4 million (DKK 1.8 million) as well as positive fair value adjustments of debt to credit institutions, mortgage debt and interest swaps of DKK 4.8 million (DKK -0.5 million).
- Basic earnings for the quarter have increased from DKK 1.3 million in 2011/12 to DKK 2.4 million in 2012/13. The increase is primarily due to lower negative fair value adjustment of credit risk on mortgage deeds.
For additional information concerning the Annual Report, please contact the undersigned.
Svend Rolf Larsen, CEO
