Interim financial report for Q3 released

Jens Bjørn Andersen, Group CEO, comments:

"We delivered strong results in the first nine months of 2018, including healthy top-line growth across all business areas and continued improvement of our margins. The implementation of trade tariffs continues to create uncertainty in our industry, but so far, we see a negligible impact on our activities. Based on our performance so far and expectations for the rest of the year, we are adjusting our earnings outlook."

The consolidated full-year outlook for 2018 previously announced is adjusted as follows:

• Operating profit before special items is expected to be in the range of DKK 5,400-5,600 million (previously DKK 5,300-5,600 million).
• Adjusted free cash flow is expected to approximate DKK 4,200 million (unchanged).
• The effective tax rate is expected to approximate 23% (unchanged).

A separate company announcement about the launch of a new share buyback programme of DKK 1,200 million will be issued today.