MT Højgaard partially wins arbitration case.
In connection with a delay in the construction of a cement factory in Buxton, England, during the years from 2001 to 2004 MT Højgaard called for additional payments from FLSmidth. An international arbitration tribunal has now heard and settled the dispute between the parties.
The arbitration case has been decided partially in favour of MT Højgaard who has been awarded a sum, which, however, only covers a small part of the losses and costs incurred.
MT Højgaard maintains its previous expectations of a small operating profit (EBIT) on ordinary activities. In addition, various arbitration cases are expected to impact the result before tax in 2013 in a positive way in the level of DKK 130 million.
Expected earnings have been affected by the weak profitability of the order portfolio at the beginning of the year and may yet be affected by the outcome of major disputes.
The expectations for the future financial trends are subject to uncertainty and risks, which may cause developments to deviate from expectations. For a description of risks and uncertainty factors, please refer to the 2012 annual accounts. The most significant risks and uncertainty factors have not changed from those described in the annual accounts.