Abyhoj, Denemarken – The Board of Per Aarsleff A/S has discussed and approved the Quarterly Report of the Company covering the first nine months of the financial year 2004/2005.

Profit before tax for the first nine months came to DKK 65.9 million against DKK 50.4 million for the same period of last year. This corresponds to the forecast expressed at the beginning of the financial year, causing no change in the previously announced forecast for a profit for the year at DKK 80 million before tax.

Group revenue was DKK 2,545 million against DKK 2,125 million last year. Foreign activities including associates amount to DKK 1,100 million compared to DKK 851 million in the previous financial year.

As forecasted at the beginning of the year Construction contributes a profit before interest at DKK 17 million against DKK 5 million last year. Revenue came to DKK 1,535 million compared to last year’s DKK 1,236 million. The third quarter is characterised by a level of activity above expectations at the beginning of the financial year.

Pipe Technologies contributes a profit before interest at DKK 32 million against DKK 26 million for the same period of last year. The result is as expected.

Piling contributes a profit before interest at DKK 23 million against DKK 30 million last year which was an extremely good year for the English subsidiary. The result is slightly better than forecasted.

Cash flows from operating activities with deduction of investments amount to DKK 31 million.