The MT Højgaard Group generated operating profit before special items of DKK 267 million in the nine months to 30 September 2015, compared with DKK 88 million in the same period last year. The Group won new orders of more than DKK 2 billion in the third quarter. Guidance for full-year results maintained.
Recent years’ refocusing efforts have produced a substantial improvement in the MT Højgaard Group’s financial results all through 2015. Operating profit before special items was DKK 145 million for the third quarter, bringing the year to date 2015 operating profit to DKK 267 million. These amounts include income from the scheduled completion of the original contract at Thule Air Base and the transition to a new contract which runs for up to one year. The operating margin before special items for the year to date 2015 period was 5.6%.
Consolidated revenue for the MT Højgaard Group amounted to DKK 4.8 billion for the year to date 2015 period, which was in line with the same period, last year figure of DKK 4.9 billion. Special items by the end of the quarter amounted to DKK 195 million following the final settlement of the Robin Rigg offshore dispute.
The Group won new orders for more than DKK 2 billion in the third quarter, growing the order book to more than DKK 7 billion. Additional orders of DKK 2.7 billion had also been won but were still not contracted at 30 September 2015.
The MT Højgaard Group bases the customer-directed part of its strategy on early-stage interaction, end-to-end focus on project costs and the use of digital tools.
- More and more of our customers want to draw on and make use of our knowledge and experience right from the project definition stage. Before committing to a solution, they want to carefully consider and assess their options with respect to timing, quality, visualisation and calculations. That ensures financial clarity for all parties and provides a notable lift in productivity both for individual projects and for each of our business areas and subsidiaries, said MT Højgaard CEO Torben Biilmann.
Management maintains the FY 2015 guidance of operating profit of DKK 325-375 million, equal to an EBIT margin before special items of approximately 5% on revenue of DKK 6.5-7.0 billion (previous guidance: about DKK 7 billion). The Group also maintains its FY 2016 EBIT margin guidance of 5%. Special items are expected to amount to DKK 195 million.
Forward-looking statements are inherently subject to risk and uncertainty, and actual develop-ments may differ materially from the guidance provided. See the most recent annual report for a detailed description of risk and uncertainty factors.
The interim report can be found here