Downward adjustment of expectations for 2018 in MT Højgaard A/S and retirement of CEO, Torben Biilmann
Please find enclosed an announcement from the board of directors of MT Højgaard A/S about a downward adjustment of its expectations for 2018.
For the full 2018, the MT Højgaard group previously expected revenue at the level of DKK 6.8 billion and an operating profit before special items at the level of DKK 140 - 180 million.
This has now been adjusted to an EBIT in the range of DKK 0 - 50 million. Expected revenue is unchanged compared to earlier.
For 2018, in addition to our 54% share in the MT Højgaard group’s profit after tax and minority interests, the Højgaard Holding group still expects a small positive result before tax.
As previously announced will the board of directors of Højgaard Holding A/S consider the interim report for the period 1 January to 30 June 2018 tomorrow, 16 August 2018, which will subsequently be published together with the interim report of MT Højgaard A/S.
As a result of the company’s financial performance, the board of directors of MT Højgaard A/S has announced that CEO Torben Biilmann, will retire from his position as of 16 August. The board of directors appreciates Torben Biilmann’s performance in the company during the past six years and thanks him for his efforts.
Until a new CEO can take up the position, the chairmanship of MT Højgaard A/S will be responsible for the daily management in close collaboration with Group Management.
| Best regards, Højgaard Holding A/S Ditlev Fløistrup CEO |
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