Investeringsselskabet Luxor A/S
Stock Exchange Announcement of 18. december 2014 and extract of Annual Report 1. October 2013 – 30. september 2014

DGAP-News: Investeringsselskabet Luxor A/S

2015-01-12 / 10:57

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Announcement No 2 2014/15

The Supervisory Board of Investeringsselskabet Luxor A/S has today considered
and adopted the Company's Annual Report for 2013/14. 

Comments to the Annual Report:

  -- Basic earnings for the financial year increased from DKK 4.9 million in
     2012/13 to DKK 13.8 million in 2013/14. The improvement is primarily due to
     lower net losses on mortgage deeds of DKK 5.6 million, an increase in net
     interest of DKK 6.2 million offset by an increase in planned direct
     expenses relating to investment properties of DKK 2.6 million.
  -- The Group's results before tax for the financial year show a profit of DKK
     15.0 million (DKK 14.4 million). After tax, the Group's profit amounts to
     DKK 11.1 million (DKK 10.3 million). The results are influenced by positive
     fair value adjustments and realised losses on securities of DKK 19.0
     million (DKK -0.9 million) as well as negative fair value adjustments of
     debt to credit institutions, mortgage debt and interest swaps of DKK 17.8
     million (DKK -6.6 million).
  -- Net asset value per share in circulation is DKK 412.8 (DKK 407.6). 
  -- The Supervisory Board proposes to the General Meeting that dividend of DKK
     50.0 million (DKK 6.0 million) be distributed, corresponding to DKK 50.0
     (DKK 6.0) per share.
  -- For the coming financial year 2014/15, basic earnings in the range of 17.0
     - 21.0 million and a profit before tax in the range of DKK 2.0 - 6.0
     million are expected as a result of, at present, negative fair value
     adjustments of bonds.

Fourth quarter of the financial year 2014:

  -- Basic earnings for the quarter have increased from DKK 2.4 million in
     2012/13 to DKK 5.6 million in 2013/14. The increase is primarily due to
     lower net losses on mortgage deeds and an increase in net interest income.
  -- The Group's results before tax for the fourth quarter of the financial year
     2014 show a loss of DKK 3.7 million (DKK 8.4 million). After tax, the Group
     shows a loss of DKK 3.3 million (DKK 6.1 million).
  -- The results for the quarter are influenced by net positive fair value
     adjustments and realised losses on securities of DKK 10.8 million (DKK -1.4
     million) as well as negative fair value adjustments of debt to credit
     institutions, mortgage debt and interest swaps of DKK 17.5 million (DKK 4.8
     million) as a result of a widening of the yield spread on bonds and
     currency hedging.


         Svend Rolf Larsen, CEO
News Source: NASDAQ OMX



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Language:    English                          
Company:     Investeringsselskabet Luxor A/S  
 
 
             Denmark                          
ISIN:        DK0010213628                     
 
 
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