Financial highlights

Income statement	DKKm
Gross contribution from projects	31
Operating income (loss) [*]	19
Net income for the year	25
Balance sheet at 31 December 2011
Share capital investment in projects at cost	350
Project loans at cost	429
Total investment in projects at cost	779
Accumulated value adjustments	92
Investments in projects, net	871
Cash and bonds	(13)
Repaid capital	(500)
Total equity capital	859
Total balance	878
Additional data
New projects contracted (no.)	2
Portfolio of projects end of year (no.)	66
Investments contracted	12
Investments disbursed	59
Undisbursed contracted investments incl. guarantees	40
Binding commitments not yet contracted	0
Key ratios
Gross contribution from projects/Average investment in projects - value adjusted	3.1%
Operating income/Average investment in projects value adjusted	1.8%
Net income for the year/Average total equity capital	2.2%
[*] Operating income = gross contribution from projects less operating expenses