 | Pro forma** | | | | | |
| Amounts in EUR million | 2003 | 2004 | 2005 | 2006 | 2007 | |
| | | | | | |
| Income statement | | | | | | |
| Revenue | 1,070 | 982 | 1,109 | 1,486 | 1,571 | |
| Operating profit (EBIT) | 5 | 12 | 14 | 8 | 26 | |
| Net financing costs and profit (loss) of associates | 0 | (2) | (1) | (1) | 16 | |
| Profit before tax | 5 | 10 | 13 | 7 | 42 | |
| Profit for the year | 4 | 10 | 10 | 5 | 32 | |
| Balance sheet | | | | | | |
| Share capital | 29 | 29 | 29 | 29 | 29 | |
| Equity attributable to equity holders of the parent | 111 | 120 | 130 | 134 | 165 | |
| Equity incl. minority interests | 114 | 122 | 133 | 137 | 165 | |
| Balance sheet total | 477 | 430 | 523 | 647 | 675 | |
| Interest-bearing assets | 58 | 36 | 36 | 47 | 66 | |
| Interest-bearing liabilities | 79 | 55 | 41 | 40 | 40 | |
| Invested capital | 137 | 144 | 140 | 132 | 141 | |
| Cash flows | | | | | | |
| Cash flows from operating activities | 14 | 0 | 46 | 42 | (10) | |
| Cash flows for investing activities | (15) | (3) | (23) | (32) | 9 | |
| Cash flows from financing activities | 44 | 1 | (6) | (1) | (4) | |
| | | | | | |
| Net increase (decrease) in cash and cash equivalents | 43 | (2) | 17 | 9 | (5) | |
| | | | |||
| | | | | | | |
| Financial ratios (%) | | | | | | |
| Gross margin | 5.5 | 5.9 | 5.5 | 4.0 | 4.7 | |
| Operating margin (EBIT margin) | 0.5 | 1.2 | 1.3 | 0.5 | 1.7 | |
| Pre-tax margin | 0.5 | 1.0 | 1.1 | 0.5 | 2.7 | |
| Return on invested capital (ROIC) | 4.1 | 8.4 | 10.1 | 5.9 | 19.0 | |
| Return on equity (ROE) | 3.6 | 8.5 | 8.2 | 3.7 | 20.9 | |
| Equity ratio | 23.8 | 28.4 | 25.3 | 21.2 | 24.5 | |
| Earnings per share and diluted earnings per share (EPS), EUR | 0.2 | 0.9 | 0.9 | 0.3 | 2.9 | |
| Other information | | | | | | |
| Order book, year end | 643 | 724 | 1,120 | 1,442 | 1,433 | |
| Average number of employees | 5,535 | 4,950 | 5,260 | 5,889 | 6,044 | |
| | | | | | |
*) Key figures are translated into EUR as supplementary information. The translation is based on the exchange rate at the balance sheet date.
**) The financial highlights for 2003 are pro forma figures, with the existing financial highlights based on the Danish Financial Statements Act and Danish Accounting Standards having been restated, in all material respects, to comply with IFRS practice.
Adjustment has been made in the income statement for the effect of the discontinuation of goodwill amortisation, foreign currency translation relating to foreign subsidiaries and derivative financial instruments, while the balance sheet has only been adjusted for the effect of the reclassifications relating to construction contracts in progress.
The financial highlights for 2004-2007 have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU.
The financial highlights have been restated to reflect the change in accounting policy in 2007 relating to the recognition of project development cases.
The ratios have been calculated in accordance with the Danish Society of Financial Analysts’ ’Recommendations & Financial Ratios 2005’.
