MT Højgaard Holding has today entered into an agreement to sell its last business activity in Greenland, the technical contracting and service company Arssarnerit. The sale is expected to be completed in the second quarter of 2026, subject to the approval of the competition authorities.
The buyer is VVS & El Firmaet A/S, which will take over all activities in Arssarnerit, including operating assets, inventory, ongoing projects, employees and guarantees for completed projects up to a certain limit. The price for the sold assets and liabilities corresponds to the book value.
Prior to entering into the agreement, MT Højgaard Holding has divested the HVAC service business and all activities outside Nuuk to focus Arssarnerit on its original core business of technical contracting activities in the Nuuk area. This is the activity that VVS & El Firmaet A/S will take over.
The sale of Arssarnerit is the last major step in the winding down of MT Højgaard Holding's international activities, which began in October 2023. Following the completed sales in Africa, Portugal, the Faroe Islands and Greenland, only minor operating assets in Greenland (including an apartment and two cars) are now outstanding. The Group has provided customary 5-year guarantees on completed construction projects in Greenland and the Faroe Islands.
The agreement does not affect MT Højgaard Holding's 2025 outlook, which is unchanged with revenue expected at a level of DKK 10-10.5 billion and an operating profit (EBIT) of DKK 400-450 million.
Further information-
CEO Rasmus Untidt and CFO Dennis Nørgaard can be contacted on telephone +45 31 21 68 72.
