Investeringsselskabet Luxor A/S : 17. februar 2021 Fondsbørsmeddelse af 16. december 2020 samt uddrag af årsrapport 1/10-2019 - 30/9-2020 (offentliggjort på engelsk)

Stock Exchange Announcement of

16 December 2020

and extract of

Annual Report

1 October 2019 - 30 September 2020

(The Company´s 47th financial year)

Investeringsselskabet

Luxor A/S

Frederiksborggade 50, 4th floor DK-1360 Copenhagen K  Company reg. (CVR) no. 49 63 99 10

Tel. [phone]

Annual report 2019/20

16 December 2020 Announcement no. 2 2020/21

The Board of Directors of Investeringsselskabet Luxor A/S has today considered and approved the Company's Annual Report for 2019/20.

The Annual Report:

•  The Group's core earnings for 2019/20 amounted to DKK 42.4 million (DKK 29.0 million), which was in line with the most recent profit guidance set out in company announcement no. 1, 2020/21 of 10 November 2020.

  Core earnings are calculated as profit for the year before tax adjusted for fair value adjustments of financial assets, interest rate swaps and mortgage loans.

•  Consolidated profit before tax was DKK 46.3 million (DKK 19.7 million). After tax for the year of DKK 10.3 million (DKK 4.4 million), the consolidated profit for the year amounted to DKK 36.0 million (DKK 15.3 million).

  Consolidated profit before tax exceeded core earnings by DKK 3.9 million, due to:

  •  A negative amount of DKK 1.1 million from fair value adjustment of securities and market value losses on equities;

  •  DKK 0.2 million from fair value adjustment of investment properties;

  •  DKK 4.8 million from fair value adjustment of interest rate swaps and fair value adjustment of amounts owed to mortgage credit institutions and expenses related to the raising of mortgage loans.

Core earnings and profit for the year were not materially impacted by Covid-19.

Dividend:

•  The Board of Directors proposes to the annual general meeting that dividend of DKK 25 million (DKK 23 million, or DKK 25 (DKK 23) per share, be distributed, which corresponds to a pay-out ratio of 5.8%.

Q4

•  Quarterly core earnings amounted to DKK 11.0 million (DKK 6.6 million).

•  Consolidated profit before tax amounted to DKK 10.9 million (DKK 3.8 million).

Expected core earnings for 2020/21:

•  For the coming financial year 2020/21, the Group expects core earnings of around DKK 37 million.

•  Fair value adjustment of interest rate swaps, which is not included in core earnings, would at 10 December 2020 reduce consolidated profit before tax by DKK 0.2 million.

So far, core earnings have not been affected in any material degree by Covid-19.

The Company's performance is to some extent dependent on the societal impact of Covid-19 and we regularly assess whether adjustments are required in this respect.

For additional information about the Annual Report, please contact Jannik Rolf Larsen, CEO (tel: [phone]).

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Financial highlights for the Group

Management's review

OCTOBER - SEPTEMBER

81.6
69.0
19.7
15.3
29.0
908.3
0.0
345.8
23.0
15.3
Earnings per share (EPS) (DKK) ............. 36.03	15.26
Book value per share
in circulation (DKK) .............................. 358.86	345.83
Return on equity (% p.a.) ........................ 10.22	4.36
Equity ratio (%) ....................................... 39.33	38.07
Dividend per share (DKK)* .................... 25.00	23.00
Share capital
Nom. share capital, year end (DKKm) ..100.00	100.0
No. of shares in circulation (DKKm) .... 100.00	100.0

Official stock exchange price per share of DKK 100

Low ............................................................. 334

High ............................................................ 484

Year end ...................................................... 434

Volume traded on the stock exchange,

69.3	63.7
61.6	54.5
29.6	27.4
23.3	20.9
27.1	24.9
867.1	846.8
0.3	0.1
353.6	352.3
23.0	22.0
23.3	20.9
23.32	20.90
353.57	352.25
6.61	5.90
40.77	41.60
23.00	22.00
100.0	100.0
100.0	100.0
402	405	333
555	460	440
416	426	408
number of shares .................................... 14,057	11,104	13,249	14,695
Number of listed shares ....................... 825,000	825,000	825,000	825,000

DKKm

Key figures

2019/20

Income ................................................. 85.9

Gross earnings ..................................... 75.7

Profit before tax ................................... 46.3

Net profit ............................................. 36.0

Core earnings ....................................... 42.4

Assets ................................................... 912.4 Investment in property, plant

and equipment ..................................... 0.0

Equity .................................................. 358.9

Proposed dividend for the year ............ 25.0

Profit for analytical purposes

Profit (after tax) ................................... 36.0

Financial ratios

Amounts per DKK 100 share

Q4	Q4
2018/19 2017/18 2016/17	2015/16	2019/20	2018/19
75.7	21.8	18.3
69.2	19.8	15.7
29.1	10.9	3.8
22.1	8.4	3.0
31.1	11.0	6.6
868.6	912.4	908.3
0.4	0.0	0.0
356.4	358.9	345.8
25.0	25.0	23.0
22.1	8.4	3.0
22.6	8.43	2.97
356.35	358.86	345.83
6.21	9.51	3.45
41.03	39.33	38.07
25.00	25.00	23.00
100.0	100.00	100.00
100.0	100.00	100.00
310	404	402
360	434	416
334	434	416
16,011	1,970	814
825,000	825,000	825,000

The financial ratios have been calculated in accordance with the 'Recommendations & Ratios', January 2018 issued by CFA Society Denmark. Basic and diluted earnings per share have been calculated in accordance with IAS 33.

* Calculated on the basis of proposed dividend.

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STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD

1 OCTOBER 2019 - 30 SEPTEMBER 2020

Parent company

Group

2019/20	2018/19	2019/20	2018/19
DKK'000	DKK'000	DKK'000	DKK'000
63,712	61,797	Financial income ...................................................	63,712	61,797
3,863	-3,511	Net loss/gain on mortgage deeds ...........................	3,863	-3,511
1,916	8,522	Fair value adjustment of financial assets ...............	-378	6,463
69,491	66,808	67,197	64,749
10,793	9,526	Rental income ........................................................	15,533	13,987
0	0	Other income .........................................................	2,989	2,615
1,800	500	Fair value adjustment of investment properties ....	200	219
12,593	10,026	18,722	16,821
82,084	76,834	Total income ........................................................	85,919	81,570
2,293	1,853	Direct costs, securities ...........................................	2,293	1,853
6,133	8,110	Direct costs, properties ..........................................	7,916	10,759
73,658	66,871	Total gross earnings ............................................	75,710	68,958
12,922	33,740	Financing costs ......................................................	11,648	32,773
60,736	33,131	64,062	36,185
3,069	3,052	Other external costs ...............................................	3,347	3,299
11,670	10,615	Staff costs ..............................................................	14,064	12,753
332	350	Depreciation and amortisation ..............................	395	412
15,071	14,017	17,806	16,464
45,665	19,114	Profit before tax ...................................................	46,256	19,721
9,547	3,778	Tax on profit for the year ......................................	10,229	4,459
PROFIT FOR THE YEAR
36,118	15,336	(COMPREHENSIVE INCOME) .......................	36,027	15,262
36.1	15.3	Earnings per share (EPS), A & B shares (DKK)...	36.0	15.3
Earnings per share (EPS), A & B shares (DKK)
36.1	15.3	(diluted) .................................................................	36.0	15.3
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