Investeringsselskabet Luxor A/S
Announcement no. 2 2020/21
Annual report 2019/20
16 December 2020
Announcement no. 2 2020/21
The Board of Directors of Investeringsselskabet Luxor A/S has today considered and approved the Company’s Annual Report for 2019/20.
The Annual Report:
·The Group’s core earnings for 2019/20 amounted to DKK 42.4 million (DKK 29.0 million), which was in line with the most recent profit guidance set out in company announcement no. 1, 2020/21 of 10 November 2020.
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 DKK 46.3 million (DKK 19.7 million). After tax for the year of DKK 10.3 million (DKK 4.4 million), the consolidated profit for the year amounted to DKK 36.0 million (DKK 15.3 million).
Consolidated profit before tax exceeded core earnings by DKK 3.9 million, due to:
- 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.
·The Board of Directors proposes to the annual general meeting that dividend of DKK 25 million (DKK 23 million, or DKK 25 (DKK 23) per share, be distributed, which corresponds to a pay-out ratio of 5.8%.
- 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 by DKK 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 Jannik Rolf Larsen, CEO
(tel: +45 33325015).
Subscribe to releases from Globenewswire
Subscribe to all the latest releases from Globenewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Globenewswire
DBV Technologies S.A.5.3.2021 22:31:29 CET | Press release
DBV Technologies to Participate in the H.C. Wainwright Global Life Sciences Conference
Better Collective A/S5.3.2021 19:31:34 CET | Press release
Better Collective – Share buyback program completed
North Media A/S5.3.2021 19:16:13 CET | Press release
Disclosure of managers’ and closely related parties’ transactions with shares in North Media A/S
North Media A/S5.3.2021 19:16:03 CET | Pressemeddelelse
Offentliggørelse af ledende medarbejderes og disses nærtståendes transaktioner med aktier i North Media A/S
Vátryggingafélag Íslands hf.5.3.2021 18:23:11 CET | Press release
VÍS: Viðskipti fruminnherja
Icelandair Group hf.5.3.2021 18:12:01 CET | Press release
Icelandair Group hf.: Candidates for the Board of Directors of Icelandair Group at the AGM on 12 March 2021
TGS5.3.2021 17:53:00 CET | Press release
TGS Share Repurchase
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom