1 October 2019 - 30 June 2020
The Supervisory Board of Investeringsselskabet Luxor A/S has today adopted the Interim Report for the period 1 October 2019 - 30 June 2020.
Third quarter 2019/20:
- Basic earnings amount to DKK 10.8 million (DKK 6.5 million).
- The Group’s profit before tax amounts to DKK 8.3 million (DKK 7.5 million).
Profit before tax for the quarter is DKK 2.5 million lower than basic earnings, primarily due to fair value adjustments of interest swaps and mortgage credit loans.
Interim period 2019/20:
- Basic earnings for the period amount to DKK 31.4 million (DKK 22.4 million).
- The Group’s profit before tax for the period amounts to DKK 35.4 million (DKK 15.9 million).
Profit before tax for the period is DKK 4.0 million higher than basic earnings, primarily due to:
- fair value adjustments of interest swaps and mortgage credit loans of DKK 4.8 million;
- fair value adjustments of financial assets and loss on sale of shares of DKK -0.8 million.
Expected basic earnings 2019/20:
- For the financial year 2019/20, basic earnings of approx. DKK 38 million are expected, which is in accordance with the most recent announcement made in Company Announcement No 7 of 10 August 2020.
- Fair value adjustments of interest swaps and financial assets are not included in basic earnings and will until 20 August 2020 affect results for the year before tax by DKK 4.8 million. The amount is distributed with DKK 3.9 million for the period and DKK 0.9 million for the period 1 July - 20 August 2020.
To date, the Company’s basic earnings have not been materially affected by COVID-19.
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 Interim Report, please contact Jannik Rolf Larsen, CEO
(tel: +45 3332 5015).