Danish operations holding up well
Q1'23 revenues grew 27% DKKm 2,299 and came in 12% below our forecasts. Order intake was particularly strong, up 113% y-o-y and contributed to Q1'23 finishing with a record high order book of DKKm 15,663m, 9% higher than our DKKm 14,402 forecast. Below the top-line, EBIT before specal items grew 15% to DKK 42m but came in 51% lower than our DKK 85m forecast which largely boils down to loss making contracts in Greenland. The company maintains its FY'23 guidance but, as we see, this hinges on improved performance in Greenland.
