Brief: MT Højgaard Holding Initiates Strategic Process For International Activities, Adjusts 2023 Guidance

MT Hoejgaard Holding A/S

09/06/2023 14:14

June 9 (Reuters) - MT Hoejgaard Holding A/S  MTHH.CO :
    * REG-MT HØJGAARD HOLDING A/S: MT HØJGAARD HOLDING INITIATES
STRATEGIC PROCESS FOR INTERNATIONAL ACTIVITIES AND ADJUSTS
GUIDANCE FOR 2023
    * BOD HAS DECIDED TO INITIATE STRATEGIC PROCESS FOR BUSINESS
UNIT
MT HØJGAARD INTERNATIONAL WITH AIM OF REDUCING COMPLEXITY AND
RISK THROUGH A DOWN-SCALING OF INTERNATIONAL ACTIVITIES
    * ADJUSTS 2023 OUTLOOK AND NOW EXPECTS OPERATING PROFIT TO
COME TO
DKK 200-225 MILLION BEFORE SPECIAL ITEMS AND POTENTIAL VALUE
ADJUSTMENTS RELATED TO STRATEGIC PROCESS AGAINST PREVIOUS
OPERATING PROFIT GUIDANCE OF DKK 300-325 MILLION
    * 2023 REVENUE IS STILL EXPECTED AT LEVEL OF DKK 9.0-9.5
BILLION
    * DOWNWARDS ADJUSTMENT IS SOLELY DUE TO INTERNATIONAL
ACTIVITIES,
WHICH COMPRISED JUST 7% OF GROUP REVENUE IN Q1 2023
    * RESULTS GENERATED BY DANISH CORE BUSINESS UNTIL END OF MAY
2023
HAVE EXCEEDED EXPECTATIONS

Source text for Eikon:  ID:nGNE5XcZDj 
Further company coverage:  MTHH.CO 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))