MT Højgaard Holding (MTHH) Q4 2023 earnings summary

Executive summary

• 2023 revenue rose to DKK 9,788m from DKK 8,080m; operating profit before special items increased to DKK 409m from DKK 333m, meeting expectations.

• Strategic focus on the Danish core business advanced amid weaker demand in parts of the market; the year-end order book exceeded two years of revenue.

Financial highlights

• Revenue DKK 9,788m vs. DKK 8,080m; EBIT DKK 389m vs. DKK 308m; EBIT margin 4.0% vs. 3.8%.

• Operating profit before special items and PPA depreciation was DKK 409m vs. DKK 333m; margin 4.2% vs. 4.1%.

• Net profit DKK 104m vs. DKK 12m; continuing operations earned DKK 305m, while discontinued operations recorded a DKK 201m after-tax loss.

• Q4 revenue reached DKK 2,723m vs. DKK 2,429m; operating profit before special items and PPA depreciation was DKK 133m vs. DKK 146m.

Outlook and guidance

• 2024 revenue guidance: DKK 10.0–10.5bn; EBIT guidance: DKK 400–425m.

• Guidance is subject to risks and uncertainties; actual performance may differ from expectations.