Luxor B — Net Asset Value 2019

Sep 4, 2019

National Storage Mechanism | Additional information

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Interim Report

as at 30 June 2019

The Supervisory Board of Investeringsselskabet Luxor A/S has today adopted the Interim Report as at 30 June 2019.

Third quarter 2018/19:

• Basic earnings amount to DKK 6.5 million (DKK 9.2 million). The lower basic earnings are primarily due to expenses relating to rebuilding in connection with the letting of vacant rental units.

  - The Group’s profit before tax amounts to DKK 7.5 million (DKK 6.4 million).

Profit before tax for the quarter is DKK 1.0 million higher than basic earnings, primarily due to:

• fair value adjustments of mortgage deeds of DKK 6.6 million, primarily due to an adjustment of the effective interest rate from 8.5% to 8.25%;
• fair value adjustments of interest swaps and mortgage credit loans of DKK -4.8 million;
• fair value adjustments of investment properties of DKK -0.6 million.

Interim period 2018/19:

• Basic earnings for the period amount to DKK 22.4 million (DKK 18.4 million).

  - The Group’s profit before tax for the period amounts to DKK 15.9 million (DKK 15.8 million).

Profit before tax for the period is DKK 6.5 million lower than basic earnings, primarily due to:

• fair value adjustments of mortgage deeds of DKK 6.8 million, primarily due to an adjustment of the effective interest rate from 8.5% to 8.25%;
• fair value adjustments of interest swaps and mortgage credit loans of DKK -12.3 million;
• fair value adjustments of investment properties of DKK -0.6 million.

Expected basic earnings 2018/19:

• At present, basic earnings of approx. DKK 28 million are expected for the financial year 2018/19, which is in accordance with the most recent announcement made in Company Announcement No 5, 2018/19 of 27 May 2019.

  - Fair value adjustments of interest swaps and financial assets are not included in basic earnings and will from the beginning of the financial year until 21 August 2019 affect results for the year before tax by DKK -10.6 million. The amount is distributed with DKK -6.5 million for the period and DKK -4.1 million for the period 1 July to 21 August 2019.

For additional information concerning this Interim Report, please contact Jannik Rolf Larsen, CEO

(tel: +45 3332 5015).

Attachment

• fonds.medd. 30. juni 2019 - UK