MT Højgaard Holding upgrades its outlook for 2024. Revenue is now expected to be around DKK 10.5 billion (previous outlook: DKK 10-10.5 billion) and thus around 7% higher than in 2023. Operating profit (EBIT) is now expected to be DKK 440-460 million (previous outlook: DKK 400-425 million) corresponding to an improvement of 13-18% compared to 2023.
The upgrade is caused by strong performance in October and the outlook for better-than-expected results in Q4 combined with high activity and solid operating results in Q3. The progress is driven in particular by business unit MT Højgaard Danmark, on the back of improving capacity utilisation, optimisation of project processes and improved margins.
Preliminary financial figures show that the group generated Q3 revenue of DKK 2.6 billion (2023: DKK 2.4 billion) and operating profit (EBIT) of DKK 126 million (2023: DKK 122 million), corresponding to an operating profit margin of 4.9% (2023: 5.0%).
"We are maintaining momentum and increasing efficiency. That is why we are now upgrading our outlook and taking another step towards improving earnings in the continuing activities for the sixth consecutive year and delivering the best results since the group was organised in the current structure in 2019," says CEO Rasmus Untidt.
The Q3 2024 interim report is still scheduled for publication on 14 November 2024, and on that day at 10:00 CET, MT Højgaard Holding will host a conference call at which management will present results and answer questions (in Danish).
Contact
CEO Rasmus Untidt can be contacted by phone +45 31 21 68 72.
