Investeringsselskabet Luxor A/S : 12. januar 2016 Fondsbørsmeddelelse af 17. december 2015 samt uddrag af Årsrapport 1/10-2014 - 30/9 2015 (offentliggjort på engelsk)

Microsoft Word - UK Medd. og sammendrag af regnskab 30.09.15.doc

Stock Exchange Announcement of 17 December 2015

and extract of

Annual Report

1 October 2014 - 30 September 2015

(The Company's 42nd financial year)

Investeringsselskabet Luxor A/S

Frederiksborggade 50, 4. 1360 København K  CVR-nr. 49 63 99 10

Nasdaq OMX Copenhagen A/S Annual Report 2014/15

Nikolaj Plads 6 Date 17 December 2015

PO Box 1040

DK-1007 Copenhagen K Announcement No 1 2015/16

The Supervisory Board of Investeringsselskabet Luxor A/S has today considered and adopted the Company's Annual Report for 2014/15.

Comments to the Annual Report:

• Basic earnings for the financial year increased from DKK 13.8 million in 2013/14 to DKK 24.1 million in 2014/15, which is higher than expected in the Announcement for the third quarter 2014/15. The improvement is primarily attributable to an increase in net financial income.

• The Group's results before tax for the financial year show a loss of DKK 10.2 million (DKK

  15.0 million). After tax, the Group shows a loss of DKK 8.5 million (DKK 11.1 million). The Group's results are within the range stated.

  The results are influenced by net negative fair value adjustments and realised losses on bonds of DKK 34.9 million as a result of volatility in the bond market and a widening of the yield spread to government bonds, among other things as a consequence of exposure to the energy and commodity sectors as well as currency hedging.

• Net asset value per share in circulation is DKK 354.29 (DKK 412.78).

• The Supervisory Board proposes to the General Meeting that dividend of DKK 20.0 million (DKK 50.0 million) be distributed, corresponding to DKK 20.0 (DKK 50.0) per share.

• For the coming financial year 2015/16, basic earnings of approx. DKK 20.0 million are ex- pected. Fair value adjustments and losses and gains realised on bonds, foreign currencies and in- terest swaps, etc are not included in basic earnings and will at 9 December 2015 affect results

  for the year before tax by DKK -11.0 million.

  
  

  Fourth quarter of the financial year 2015:

• Basic earnings for the quarter have increased from DKK 5.6 million in 2013/14 to DKK 6.6 million in 2014/15. The improvement is primarily attributable to an increase in net interest in- come.

• The Group's results before tax for the fourth quarter of the financial year 2015 show a loss of DKK 15.9 million (DKK -3.7 million). After tax, the Group shows a loss of DKK 13.0 million (DKK -3.3 million).

• The results for the quarter are influenced by net negative fair value adjustments and realised losses on bonds of DKK 21.4 million (DKK -10.8 million) as a result of volatility in the bond market and a widening of the yield spread to government bonds, among other things as a conse- quence of exposure to the energy and commodity sectors as well as currency hedging.

For additional information concerning the Annual Report, please contact Jannik Rolf Larsen, Manager.

Yours faithfully

Investeringsselskabet Luxor A/S

Svend Rolf Larsen Jannik Rolf Larsen

CEO Manager

FINANCIAL HIGHLIGHTS OF THE GROUP

OCTOBER - SEPTEMBER

Q4 Q4

DKK million Key figures	2014/15	2013/14	2012/13	2011/12	2010/11	2014/15	2013/14
Income ...................................................	59.9	59.9	47.7	37.1	18.7	15.9	10.2
Gross earnings .......................................	43.1	60.4	33.0	28.8	50.1	-9.4	21.2
Profit/loss before tax..............................	-10.2	15.0	14.4	0.5	20.6	-15.9	-3.7
Net profit/loss ........................................	-8.5	11.1	10.3	1.1	17.6	-13.0	-3.3
Basic earnings........................................	24.1	13.8	4.9	8.6	16.5	6.6	5.6
Assets..................................................... Investment in property, plant and equipment ..............................................	915.5 0.7	888.2 0.0	797.2 0.2	782.1 0.0	890.8 0.0	915.5 0.6	888.2 0.0
Equity ....................................................	354.3	412.8	407.6	397.3	396.2	354.3	412.8
Proposed dividend for the year..............	20.0	50.0	6.0	0.0	0.0	20.0	50.0
Profit/loss for analytical purposes: Net profit/loss (after tax) .......................	-8.5	11.1	10.3	1.1	17.6	-13.0	-3.3
Ratios Values per DKK 100 share Earnings per share (EPS) (DKK)...........	-8.48	11.15	10.33	1.07	17.63	-12.95	-3.27
Net asset value per share in circulation (DKK)..................................	354.29	412.78	407.63	397.30	396.23	354.29	412.78
Return on equity in percentage p.a. .......	-2.21	2.72	2.57	0.27	4.55	-14.36	-3.15
Equity share in percentage.....................	38.70	46.47	51.14	50.80	44.48	38.70	46.47
Dividend per share (DKK)* ..................	20.0	50.0	6.00	0.00	0.00	0.00	0.00
Share capital Nominal share capital, end of year (DKK million) ....................	100.0	100.0	100.0	100.0	100.0	100.0	100.0
Number of shares in circulation (DKK million) .....................	100.0	100.0	100.0	100.0	100.0	100.0	100.0
Official price on the Stock Exchange per DKK 100 share: Lowest ...................................................	261	216	185	203	250	313	248
Highest...................................................	362	264	222	258	279	323	264
End of year ............................................	317	264	221	203	253	317	264
Volume of trade on the Stock Exchange, number of shares....................................	32,385	20,679	17,947	15,457	29,245	4,625	5,511
Listed on the Stock Exchange, number of shares....................................	825,000	825,000	825,000	825,000	825,000	825,000	825,000

The key figures have been calculated in accordance with "Recommendations and key figures 2015" issued by the Danish Society of Financial Analysts. EPS and diluted EPS are in accordance with IAS 33.

* Calculated on the basis of proposed dividend distribution

Basic earnings and results for the year

The Group's basic earnings amount to DKK 24.1 million (DKK 13.8 million). Basic earnings are calculated as profit/loss before tax for the year adjusted for fair value adjustments of securities, investment properties, debt and foreign exchange movements and realised losses on securities. Basic earnings are higher than both the range of DKK 20.0 to DKK 23.0 million as stated in the Announcement of 27 August 2015 and the range of DKK 17.0 to DKK 21.0 million as stated in the Annual Report 2013/14. The higher basic earnings are primarily attributable to an increase in the Group's net financial income.

The Group's results before tax amount to DKK -10.2 million (DKK 15.0 million). After recognition of tax for the year of DKK -1.7 million (DKK 3.9 million), the results after tax for the year amount to DKK -8.5 million (DKK 11.1 million). The results are within the range of DKK -5.0 to DKK -12.0 million as stated in the Announcement of 27 August 2015, but lower than the range of DKK 2.0 to DKK 6.0 million as stated in

the Annual Report 2013/14. The results for the year are influenced by net negative fair value adjustments and realised losses on bonds as well as currency hedging, DKK 34.9 million.

The Group's basic earnings for the fourth quarter of the financial year 2015 amount to DKK 6.6 million (DKK 5.6 million), and results before tax amount to DKK -15.9 million (DKK -3.7 million). The results for the quarter are negatively affected by DKK 21.4 million (DKK -4.2 million) resulting from net negative fair value adjustments and realised losses on bonds as a result of volatility in the bond market and a widening of the yield spread to government bonds, among other things as a consequence of exposure to the energy and commodity sectors as well as currency hedging.

Business areas

The Group's balance sheet, which compared with the same time last year has increased from DKK 888.2 million to DKK 915.5 million, includes the following business areas:

2014/15 2013/14

DKK million DKK million

Mortgage deeds...................................	510.9	368.8
Bonds ..................................................	153.2	271.2
Shares..................................................	1.8	0.0
Total securities	665.9	640.0
Investment properties..........................	180.5	180.1
Total ....................................................	846.4	820.1