MT Højgaard Holding (MTHH) Investor presentation summary

Strategic positioning and business structure

• Maintains market leadership in Danish construction and civil engineering, focusing on core competencies and risk management.

• Simplified corporate structure through targeted divestments and restructuring, including the sale or discontinuation of non-core units.

• Integrated property development into core operations and consolidated activities for efficiency.

• Ongoing liquidation of international business units to sharpen strategic focus.

Financial performance and portfolio optimization

• Revenue grew 17% from 2020 to 2025E, reaching 10,682 MDKK, while EBIT nearly doubled to 400–450 MDKK.

• ROIC improved significantly, rising from 6.7% in 2020 to 56.6% in H1 2025.

• Net interest-bearing debt reduced from 1,127 MDKK in 2020 to -528 MDKK in H1 2025, reflecting a stronger balance sheet.

• Portfolio optimization through divestments has strengthened the financial foundation.

Segment and business unit performance

• MT Højgaard Danmark and Enemærke & Petersen delivered revenue growth and improved order intake, with operating margins of 5.4% and 3.2% respectively in H1 2025.

• Order intake increased by 52% for Enemærke & Petersen, with strong growth in civil engineering and refurbishment segments.

• Strategic partnerships and collaborations account for a significant share of revenue.