0F5M Investeringsselskabet Luxor A/s

The Supervisory Board of Investeringsselskabet Luxor A/S has today considered and adopted the Company’s Annual Report for 2016/17.

Comments to the Annual Report:

• Basic earnings for the financial year 2016/17 amount to DKK 24.9 million (DKK 31.1 million), which is in accordance with the announcement made in Company Announcement of 30 August 2017.

Basic earnings are higher than the amount of DKK 24 million originally announced in the Annual Report 2015/16. The higher basic earnings are primarily attributable to an increase in net yield on mortgage deeds and bad debts recovered.

• The Group’s results before tax for the financial year show a profit of DKK 27.4 million (DKK 29.1 million). After tax, the Group shows a profit of DKK 20.9 million (DKK 22.1 million).

Results for the year are positively affected by DKK 2.5 million distributed with:

• DKK 4.3 million from fair value adjustments of interest swaps;
• DKK -1.3 million from fair value adjustments and realised gains on bonds and shares including currency hedging;
• DKK -0.5 million from other fair value adjustments etc not included in basic earnings. 
• The net asset value per share in circulation is DKK 352.25 (DKK 356.35).  
• The Supervisory Board proposes to the General Meeting that dividend of DKK 22 million (DKK 25 million) be distributed, corresponding to DKK 22 (DKK 25) per share.  
• For the coming financial year 2017/18, basic earnings in line with the financial year 2016/17 are expected. Fair value adjustments and realised losses and gains on bonds, foreign currencies and interest swaps, etc are not included in basic earnings and would at 8 December 2017 affect results for the year before tax by DKK -2.1 million. 

Fourth quarter of the financial year 2017:

• Basic earnings for the quarter amount to DKK 6.0 million (DKK 6.8 million). 
• The Group’s results before tax for the fourth quarter of the financial year 2017 show a profit of DKK 4.9 million (DKK 9.7 million). After tax, the Group shows a profit of DKK 3.4 million (DKK 7.0 million).

The results for the quarter are negatively affected by DKK 1.1 million distributed with:

• DKK -0.6 million from fair value adjustments of interest swaps;
• DKK -0.5 million from fair value adjustments and realised gains/losses on bonds and shares.

For additional information concerning the Annual Report, please contact the undersigned.

Yours faithfullyInvesteringsselskabet Luxor A/S

Jannik Rolf LarsenCEO

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