Investeringsselskabet Luxor (LUXOR) Q3 23/24 earnings summary

Executive summary

• Result before tax for Q3 2023/24 was DKK 64.5m, up from DKK 16.4m year-over-year, mainly due to a DKK 49.5m fair value gain from the sale of an investment property.

• Nine-month result before tax was DKK 77.4m (DKK 36.7m last year), with net profit at DKK 60.3m (DKK 28.5m last year).

• Core earnings for the period were DKK 33.5m (DKK 34.3m last year), reflecting stable underlying operations.

Financial highlights

• Revenue for the nine months was DKK 127.0m (DKK 72.8m last year).

• Gross profit reached DKK 122.9m (DKK 68.8m last year).

• Earnings per share (EPS) for the period were DKK 60.28 (DKK 28.53 last year).

• Return on equity annualized at 18.19% (8.54% last year).

• Equity at period end was DKK 446.9m (DKK 434.5m last year).

Outlook and guidance

• Core earnings for the full year 2023/24 are expected at around DKK 40m, unchanged from previous guidance.

• Guidance reflects expectations of lower gains and increased net losses on mortgage deeds, as well as higher maintenance costs and the net effect from the property sale.