Annual Report 2009

Despite a modest increase of new orders, not at least in the Icelandic market, the Pihl Group's turnover for 2009 totalled EUR 733 million. At the same time the Group increased its profits by 57 % compared to last year.

Pihl’s turnover for 2009 totalled EUR 733 million, corresponding to a decrease of 15.8% compared to 2008. However, the result for the year is satisfactory at a profit of EUR 10 million compared to EUR 7.5 million in 2008. Profit for the year after tax was EUR 7 million against EUR 3 million in 2008.

Unchanged exports
In 2009 we were active in sixteen countries outside Denmark, and the total share of exports amounts to 55%, which is similar to previous years.
In Denmark we handed over a number of completed projects; and in spite of the modest increase of new orders in our trade, we were awarded with various new contracts for building and construction works at year end.

Expectations
In the first quarter of 2010 the launch of tenders in Denmark and abroad increased, and therefore the order book for 2010 looks quite promising.

Read/Download a summary of the Annual Report 2009

The full annual report and its notes can be obtained upon request to our Financial Manager, Anne Brown Frandsen, phone: +45 4527 7200.

10 May 2010