Copenhagen Metro Team I/S (CMT) and MT Højgaard A/S have entered into a final agreement to convey the contract for the AF work on 17 stations on Metro Cityringen. The agreement, which was amicably reached between the two parties, entails that CMT takes over MT Højgaard’s contract for AF work.
CMT will integrate MT Højgaard’s works and other related works to ensure the best possible coordination between CMT’s own work on the line with the architectural finishes.
- We entered into a dialogue with CMT to find a future-proof solution for the completion of the AF work. It has been a long and demanding process, which required a lot of effort from all parties. In MT Højgaard, we are pleased to have found a common solution that ensures the necessary progress for Metro Cityringen. It is a solution that we will support, says Jesper Nordby, Executive Vice President at MT Højgaard.
The parties have agreed not to disclose the terms of the agreement.
The clarification eliminates uncertainty concerning the AF work in the outlook for 2017 (cf. MTH GROUP’s interim report for the first quarter 2017), and the agreement advances a contribution from the contract, but does not lead to any changes to the expectations for 2017 for revenue around DKK 7.2 billion and earnings before interest and tax in the range of DKK 150-200 million in 2017.