Virksomhedsform
Interessentskab
Etableret
2011
Størrelse
Små
Ansatte
10
Omsætning
64 MDKK
Bruttofortj.
-3.557.466 DKK
Primært resultat (EBIT)
- DKK
Årets resultat
-82.977.708 DKK
Egenkapital
-41.011.542 DKK
annonce

Flere nøgletal og analyser?

Med en Bisbase Premium konto får du flere nøgletal for både virksomheder, koncerner og brancher samt adgang til eksklusive brancher indeholdende virksomheder nøje sammensat af eksperter. Og vil du lave dine egne analyser kan du også det! Det tager få minutter at få adgang - og det behøver ikke at koste dig noget!

Rang Årets resultat

Rang i branche
31/32
"Bund 10%"
Rang i Danmark
341.690/342.443
"Bund 10%"

Bestyrelse top 3

Pablo Martinez Sonnendrucker 1Bestyrelsesformand
Luca Pavone 1Bestyrelsesmedlem
Daniele Cascianelli 1Bestyrelsesmedlem

Tegningsregler

Interessentskabet tegnes af den samlede bestyrelse.

Stamoplysninger baseret på CVR

NavnCopenhagen Metro Team I/S
CVR33504764
AdresseAmager Strandvej 60, 2300 København S
BrancheAnlæg af jernbaner og undergrundsbaner [421200]
Etableret21-02-2011 (13 år)
Første regnskabsperiode21-02-2011 til 31-12-2011
VirksomhedsformInteressentskab
Antal ansatte12 (årsværk:12)
ReklamebeskyttelseJa
RevisorKpmg P/S siden 08-05-2015
Regnskabsperiode01-01 til 31-12
Vedtægter seneste24-09-2021

Medlem af brancherne

Formål

Interessentskabets formål er at udføre og afslutte Cityringen Entrepriseaftale Bygge- og anlægsarbejder Civil Works Nord og Syd i overensstemmelse med en kontrakt indgået med Metroselskabet I/S.

Regnskab

 202320222021
Valuta/enhed000' DKK000' DKK000' DKK
Omsætning
64.355
-44%
114.033
+8%
105.695
-67%
Bruttofortjeneste
-3.557
-
44.830
+161%
17.183
-86%
Årets resultat
-82.978
-
-34.493
-
-35.806
-
Egenkapital
-41.012
-
41.966
-45%
76.459
-32%
Balance
1.102.725
+3%
1.075.824
+12%
961.388
+7%

Ledelsesberetning

Development in activities and financesA substantial completion stage has been reached where the Cityringen Project is fit for occupancy and use for its intended purpose.

CMT is still involved in the 5-year defects liability period foreseen in the contract, ending in July 2024. However, in the period, CMT has frequently been denied access to job sites, with a consequent, unavoidable slowdown of these activities. The remaining expenses are related to Warranty period activities and to the follow-up of the arbitration process.

CMT's Income Statement for the year ended 31st December 2023 shows a loss of EUR 11,126 thousand, and the Balance Sheet at the same date shows total assets of EUR 151,758 thousand. The result includes the effect of recognition of the Claims estimated with a high probability to be awarded to CMT.

Status of the process of Claims
Claims raised by CMT towards MS according to the contract and Danish Law, are mainly related to the following:

a) A dispute on the execution of the concrete structures in the foundation, piles and D-Walls at all the 22 shafts, resulting in additional costs and time. The technical justifications and closure of non-conformities done by CMT were rejected by MS with a substantial impact on time and costs of work performed.

b) Misalignment of the contract schedules of the TS Contractor Ansaldo STS and CMT’s contract schedule caused consequent and significant delays to CMT installation works, testing and commissioning. Additional costs occurred, also because MS excluded CMT from access to relevant information regarding the schedule of Ansaldo STS.

c) Ansaldo STS delays in various parts of its work, among other the installation of the Permanent Way in the tunnels and the preparation of the Safety Documentation impacted CMT time schedule and costs.

d) Deviations and re-sequencing of the Project Model common milestones, including the negative impact of the anticipated but prolonged train testing on CMT activities. Train testing was not adequately described and anticipated in the Contract documents.

e) Clashes and conflicts between the Ansaldo STS works and CMTs work, particularly CMTs architectural finishes work (AF) were impacted by the TS Contractors delays.

f) Reduced productivity during installation work due to negative interferences from surface work and for the priority given to the Surface Contractors. For this reason, CMT was exposed to additional restrictions on access to the stations to perform the work resulting in delays and further costs.

g) Delays in MS’ approval process of: CMT design, CMT Non-Conformities and CMT safety documentation.
It is CMT’s technical and legal evaluation that the events described caused significant additional delays to CMT’s scheduled program of works.

These delays caused significant increases of expenses among other due to CMT’s mitigation measures and accelerations to secure that the Cityringen Project would be delivered of the required quality and on time, which was CMT’s focus during the entire execution phase.

This focus was the reason for CMT’s mitigation of problems, mistakes and delays caused by other parties on the project.

It is CMT’s evaluation that the additional expenses related to mitigation activities should be subject to Variation Orders in accordance with C.S.A. no.7. In accordance with C.S.A. no.7 Variation Orders are not subject to CAPS.
In April 2021 CMT submitted its Supplementary Statement of Claims to the Danish Building and Construction Arbitration Board. The updated total amount that is going to be claimed from MS in the arbitration court is 792,1 M€.

This does not include the reputational claim reserved in the final account and the Attachments 4-5-6 to C.S.A. no.7, the legal costs, and all other necessary costs to complete the arbitration.

The reputational damage
It is CMTs evaluation that CMT and the shareholders behind the consortium suffered unnecessary reputational damage. According to the contract CMT could not approach stakeholders or media without prior approval from MS.

However, this was legally conditional upon MS adopting an objective, transparent, factual, fair and balanced report of the events, which MS failed to according to CMT’s claim.

Examples of the above are the repeated denials to CMT access to media to protect its reputation and MS’ failure to take initiatives to do joint media activities with CMT.

An example is the more than 50 publicly available videos produced by MS about the progress of the works, where none of them give any indication that CMT performed 99 percent of the physical works on the Cityringen. It is CMT’s evaluation, that MS by such actions deliberately and intentionally aimed to gain an unjustified appreciation with stakeholders.

Process and evaluation of the claims
CMT’s ongoing technical and legal evaluations of the quality and the merit of the claims concludes that there is sufficient reason and justification to process the before mentioned claims.

So far CMT has submitted more than 75.000 pages of material to the Danish Construction and Arbitration Board for documentation and substantiation.

During 2020 MS submitted counterclaims to CMT for rectification of defects, which prevented the value of the Performance Bond to be reduced from 3 percent to 1 percent of the amount of the works. These counterclaims were rejected by CMT since the technical and legal evaluation show that they are completely undocumented and unsubstantiated.

As a consequence, a new dispute was raised by CMT in the Danish Building and Construction Arbitration Board in 2021, in order to request the reduction of the Performance Bond from 3 percent to 1 percent of the contract value, because CMT considers that 3 percent is unduly retained. However, the arbitration court decided that this question should be decided within the above-mentioned existing dispute.

In addition, as part of the claim process, several questions were raised and answered within the agreed “Syn & Skøn” procedures.

As of today, the process in the Danish Arbitration Court is ongoing.
21-03-2024

Kort