TK Development A/S announced consolidated and parent earnings results for the year ended January 31, 2018. For the year, on consolidated the company reported net revenue of DKK 785.9 million compared to DKK 401.5 million a year ago. Operating loss of DKK 339.4 million compared to profit of DKK 51.8 million a year ago. Loss before tax was DKK 373.7 million compared to profit of DKK 13.8 million a year ago. Loss for the year was DKK 379.0 million compared to profit of DKK 7.1 million a year ago. LPS was DKK 3.9 compared to EPS of DKK 0.1 a year ago. Cash flows from operating activities was DKK 213.7 million compared to cash used in operating activities of DKK 32.5 million a year ago. Investments in equipment, fixtures and fittings were DKK 2.9 million compared to DKK 0.8 million a year ago. Net interest-bearing debt, end of year was DKK 953.6 million against DKK 1,196.2 million a year ago. Return on equity was negative 34.2% against positive 0.6% a year ago.

For the year, the parent company reported operating loss of DKK 9.4 million compared to DKK 5.2 million a year ago. Loss before tax was DKK 374.7 million compared to profit of DKK 12.4 million a year ago. Loss for the year was DKK 378.9 million compared to profit of DKK 6.9 million a year ago. Cash flows used for operating activities was DKK 1.4 million compared to cash provided for operating activities of DKK 1.1 million a year ago.

For the fiscal 2019, the company expects consolidated profit of DKK 80 million - DKK 90 million before tax. The target of a return on equity in the property development segment of 15-20% p.a. before tax is maintained, and fulfillment of this target is reflected in the Group's profit guidance.