MT Højgaard Holding — Interim / Quarterly Report 2016

Nov 10, 2016

The board of directors of Højgaard Holding A/S has today considered and
approved the consolidated financial statements for the period from 1 January to
30 September 2016.

Højgaard Holding A/S’ main asset is the 54% ownership share of MT Højgaard A/S.
For further details regarding MT Højgaard, reference is made to MT Højgaard’s
interim report which Højgaard Holding has today made public.

Highlights and key figures for the Højgaard Holding group are:

2016 2015 2015

DKK million Year to date Year to
date Full year

Revenue 56.5
49.5 57.9

MT Højgaard group
(after tax and minority interests) -21.4
175.2 99.1
Højgaard Industri A/S 10.0
9.9 10.6
Højgaard Holding A/S -3.8
-4.3 -5.7

Profit before tax -15.2
180.8 104.0

Tax on profit 1.4
1.3 1.2

Profit after tax -16.6
179.5 102.8

Investments in jointly controlled enterprise 492.1 592.9
518.4

Equity, beginning of year 471.8
362.2 362.2

Profit after tax -16.6
179.5 102.8

Other comprehensive income in
jointly controlled enterprise -6.6
4.1 5.4

Other
1.8 1.2 1.4

Equity, end of period 450.4
547.0 471.8

Average and end of period number of shares, million 4.2 4.2
4.2
Earnings and diluted earnings
per share (EPS and EPS-D), DKK -4
43 24
Book value per share, DKK 107
130 112
Share price at end of period, A-shares 276 405
385
Share price at end of period, B-shares 285
400 404
Total market value, DKK million 1,168 1,698
1,640

Return on equity (%) -4
39 25

The key figures have been calculated in accordance with the Danish Finance
Society’s “Recommendations & Financial Ratios 2015”. The definition of the key
figures applied can be seen from the annual report for 2015.

Results for Højgaard Holding and Højgaard Industri for the first three quarters
are in line with expectations.

Højgaard Holding A/S’ own cash resources are considered satisfactory.

The group recorded a loss before tax of DKK 15 million, compared to a profit of
DKK 181 million for the same period in the previous year. The lower results,
compared to the same period last year, can be attributed to lower results in
the jointly controlled enterprise MT Højgaard.

The group’s equity stood at DKK 450 million at 30 September 2016, and the book
value corresponds to DKK 107 per share of DKK 20.

The MT Højgaard group still expects revenue at the level of DKK 6.8 billion.
Expectations for operating profit (before special items) are now lowered to a
level of DKK 75 million from previous at the level of DKK 225 million.

For 2016, in addition to our share in the MT Højgaard group’s profit after tax
and minority interests of 54 %, the Højgaard Holding group still expects a
small positive result before tax.

Best regards,
Højgaard Holding A/S
Søren Bjerre-Nielsen Ditlev Fløistrup
Chairman of the board CEO

     Contacts:
     Ditlev Fløistrup, CEO, Højgaard Holding, tel. +45 4520 1500
     Torben Biilmann, CEO, MT Højgaard, tel. +45 2270 9020
     Søren Bjerre-Nielsen, chairman of the board, Højgaard Holding, tel.

+45 4520 1500