Monberg & Thorsen’s Board of Directors approved the 2018 annual report at its meeting today
Financial results for 2018
Monberg & Thorsen A/S reported net loss for the year of DKK -278.4 million, in line with the latest outlook in the interim financial report for the third quarter of 2018. No dividend will be proposed for 2018.
MTH GROUP delivered revenue of DKK 6.8 billion, compared with DKK 7.6 billion in 2017, and operating result before special items was a loss of DKK 547 million, compared with a profit of DKK 176 million in 2017. The results were in line with the latest outlook. For detailed information, we refer to Stock Exchange announcement No 3, which has just been issued and in which we have published MT Højgaard A/S’s annual report 2018.
Outlook 2019
For 2019, MTH GROUP expects revenue of around DKK 7.0 billion and operating profit (EBIT) of around DKK 75 million.
Monberg & Thorsen A/S’s share is 46% of MTH GROUP’s result after tax and non-controlling interests. From this should be deducted operating expenses in Monberg & Thorsen A/S, which are expected to be around DKK 4 million, to which should be added any further expenses related to the indemnities and guarantees provided in connection with the divestment of Dyrup A/S and transaction costs related to the planned merger.
Monberg & Thorsen A/S plans to merge with Højgaard Holding A/S. The final profit outlook for 2019 for the consolidated company will not be announced until after the merger has been implemented and probably not until the interim financial statements for the first half of 2019 are presented. The merger will be accounted for using the acquisition method, and the accounting consequences in the form of purchase price and purchase price allocation, etc., consequently cannot be finally determined until after the merger has been implemented. For accounting purposes, the date of the final adoption of the merger will be the acquisition date.
The annual report of Monberg & Thorsen A/S has been published via Nasdaq Copenhagen, and is available on Monberg & Thorsen’s website, www.monthor.com
Questions relating to this announcement should be directed to Morten Pedersen, on telephone +45 2186 7254.
This announcement is available in Danish and English. In case of doubt, the Danish version shall
prevail.
MONBERG & THORSEN A/S
CVR 12 61 79 17
LEI 529900NA1V21KR5S7498
Ringager 4C, 2nd Floor, Right
DK – 2605 Brøndby
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