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2016-01-29

Annual report 2015

t
Financial Statement Release

Annual report 2015

Annual report 2015

Copenhagen, 2016-01-29 09:35 CET (GLOBE NEWSWIRE) --

Improved results and traffic record in 2015

Road traffic on the Øresund Bridge continues to increase with 2015 setting more
traffic records. The financial result before value adjustment for 2015 was a
profit of DKK 899 million, which is DKK 116 million up on the year.

Road traffic on the Øresund Bridge continued to increase in 2015 and averaged
19,300 vehicles per day. This is an increase of 1.8 per cent compared to 2014.
July set a record both for the number of vehicles per day and per month.

Focus on BroPas customers through marketing, the Øresund Bridge Club and the
SmutTur (short break) discount has resulted in 32,000 new contracts of this
type. The Øresund Bridge now has a total of 366,000 BroPas customers.
Altogether, this led to a 4.8 per cent increase in BroPas traffic. Freight
traffic increased by 6.4 per cent, whereas commuter traffic was unchanged on
the year.

”The financial result is satisfactory,” says Caroline Ullman-Hammer, CEO,
Øresundsbro Konsortiet. “It is also highly positive that more people are
crossing the Øresund waterway, which not only benefits the bridge, but the
region as a whole. Border controls were introduced in November, but we did not
see any major impact on motorway traffic in 2015. Time will tell how traffic
will be affected over the longer term.”

Road revenue increased by DKK 60 million to DKK 1,271 million. Revenue from the
railway, which is adjusted in line with price trends, increased by DKK 4
million.

The Øresund Bridge is a well maintained road and rail section with few
accidents and a high level of accessibility. Operating expenses declined by DKK
5 million to DKK 279 million.

The interest-bearing net debt fell by DKK 747 million over the period.
Interest expenses fell by DKK 57 million to DKK 327 million, which is in part
due to the lower debt and in part to the continuing low interest rates.

The result before value adjustment increased by DKK 116 million to DKK 899
million as a result of higher road revenue and lower interest expenses.

With the most recent traffic forecast, Øresundsbro Konsortiet calculates that
the company’s debt will be repaid in 2034 and the owner companies are expected
to receive dividend from 2018.

Main items for the period January-December (DKK million):

Jan – Dec Jan – Dec Developmen
2015 2014 t
--------------------------------------------------------------------------------
Revenue, road 1,271 1,211 60
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Revenue, railway 494 490 4
--------------------------------------------------------------------------------
Other income 32 21 11
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Total revenue 1,797 1,722 75
--------------------------------------------------------------------------------
Operating expenses -279 -284 5
--------------------------------------------------------------------------------
Other operating expenses -18 - -18
--------------------------------------------------------------------------------
Depreciation -274 -271 -3
--------------------------------------------------------------------------------
Operating profit 1,226 1,167 59
--------------------------------------------------------------------------------
Financial income and expenses -327 -384 57
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Profit before value adjustments 899 783 116
--------------------------------------------------------------------------------
Value adjustment, fair value effect, 318 -849
net*
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Value adjustment, exchange rate -83 178
effect, net*
--------------------------------------------------------------------------------
Annual profits 1,134 112
--------------------------------------------------------------------------------

Road traffic trends 2015

Traffic Traffic Traffic Market Market Market
per day per day developme share share share
2015 2014 nt 2015** 2014 development
Cash 3,775 3,713 1.7 %
BroPas 5,640 5,382 4.8 %
Commuter 5,779 5,818 - 0.7 %
Business 2,757 2,757 0.0 %
Passenger 17,951 17,671 1.6 % 82.5 % 82.2 % 0.3 %
cars
total*
Lorries 1,229 1,155 6.4 % 53.7 % 53.1 % 0.6 %
Coaches 129 138 -7.0% 69.8 % 71.4 % - 1.6 %
Total 19,308 18,964 1.8 % 79.7 % 79.5 % 0.2 %

* The category also includes passenger cars with a trailer as well as vans and
motorcycles.
** The market shares apply to the period October 2014 to September 2015

.

Yours sincerely,

Øresundsbro Konsortiet

Caroline Ullman-Hammer
Chief Executive Officer
Phone 45 3341 6000

Författare SSE

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