Annual report 2019/20
Announcement no. 2 2020/21
The Board of Directors of
The Annual Report:
·The Group’s core earnings for 2019/20 amounted to
Core earnings are calculated as profit for the year before tax adjusted for fair value adjustments of financial assets, interest rate swaps and mortgage loans.
·Consolidated profit before tax was
Consolidated profit before tax exceeded core earnings by
- A negative amount of
DKK 1.1 million from fair value adjustment of securities and market value losses on equities; DKK 0.2 million from fair value adjustment of investment properties;DKK 4.8 million from fair value adjustment of interest rate swaps and fair value adjustment of amounts owed to mortgage credit institutions and expenses related to the raising of mortgage loans.
Core earnings and profit for the year were not materially impacted by Covid-19.
Dividend:
·The Board of Directors proposes to the annual general meeting that dividend of
Q4
- Quarterly core earnings amounted to
DKK 11.0 million (DKK 6.6 million ).
- Consolidated profit before tax amounted to
DKK 10.9 million (DKK 3.8 million ).
Expected core earnings for 2020/21:
- For the coming financial year 2020/21, the Group expects core earnings of around
DKK 37 million . - Fair value adjustment of interest rate swaps, which is not included in core earnings, would at
10 December 2020 reduce consolidated profit before tax byDKK 0.2 million .
So far, core earnings have not been affected in any material degree by Covid-19.
The Company’s performance is to some extent dependent on the societal impact of Covid-19 and we regularly assess whether adjustments are required in this respect.
For additional information about the Annual Report, please contact
(tel: +45 33325015).
Attachment
- Luxor 30.
september 2020 -UK
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