Brief: Mt Højgaard Holding Initiates Sales Process For Scandi Byg

MT Hoejgaard Holding A/S

22/12/2022 12:16

Dec 22 (Reuters) - MT Hoejgaard Holding A/S  MTHH.CO :
    * MT HØJGAARD HOLDING INITIATES SALES PROCESS FOR SCANDI BYG
AND
ADJUSTS 2022 GUIDANCE
    * TO INITIATE A SALES PROCESS FOR SCANDI BYG AFTER AN
EXTENSIVE
STRATEGIC REVIEW
    * DIALOGUE HAS BEEN INITIATED WITH POTENTIAL BUYERS OF
SCANDI BYG
    * PROCESS IS INITIATED TO FOCUS ON GROUP'S SUBSIDIARIES
WITHIN
CONSTRUCTION AND CIVIL WORKS
    * SALES PROCESS WILL NOT IMPACT NEITHER EXISTING, PLANNED
NOR NEW
PROJECTS IN SCANDI BYG
    * ON THIS BACKGROUND, GROUP ADJUSTS ITS EXPECTATIONS TO 2022
OPERATING PROFIT BEFORE SPECIAL ITEMS TO A LEVEL OF DKK 260
MILLION (PREVIOUSLY: DKK 215-240 MILLION INCL. EXPECTED
OPERATING LOSS IN SCANDI BYG)
    * REVENUE IS STILL EXPECTED TO BE AROUND DKK 8.5 BILLION IN
2022
EVEN THOUGH SCANDI BYG'S EXPECTED REVENUE WILL NO LONGER BE
INCLUDED
    * AS DISCONTINUING ACTIVITY, SCANDI BYG IS EXPECTED TO
IMPACT
CONSOLIDATED FINANCIAL STATEMENTS WITH A LOSS AFTER TAX OF
AROUND DKK 56 MILLION

Source text for Eikon:  ID:nGNE28qq7M 
Further company coverage:  MTHH.CO 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com;))