2012-03-21 14:00:00 CET
2012-03-21 14:00:10 CET
REGULATED INFORMATION
Lemminkäinen - Company Announcement
Comparison figures for 2011, under Lemminkäinen's new sector division
LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 21.3.2012 at
3 p.m.
COMPARISON FIGURES FOR 2011, UNDER LEMMINKÄINEN'S NEW SECTOR DIVISION
From the beginning of 2012, Lemminkäinen's business operations are organised
into four business sectors: International Operations, Building Construction,
Infrastructure Construction and Technical Building Services.
Effective 1 January 2012, Lemminkäinen's international operations were
organised into a new business sector - the company's fourth - which the company
created out of its international operations to ensure profitable growth and the
company's competitiveness in an international operating environment. The
International Operations business sector will contain all Lemminkäinen's
business functions outside Finland. In addition to Finland, Lemminkäinen's main
market areas comprise the other Nordic countries, Russia and the Baltic
countries. This business sector change aims to take better account of these
growth markets in operational management and development.
Comparison figures for 2011, based on the new sector division, are presented in
the following:
NET SALES 1-3/ 1-6/ 1-9/ 1-12/
EUR mill. 2011 2011 2011 2011
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International operations 72.4 260.2 562.9 809.8
Building Construction 143.8 322.2 499.8 720.9
Infrastructure Construction 65.1 216.2 443.0 596.2
Technical Building Services 52.0 108.1 171.2 239.9
Other operations 6.5 13.9 22.2 31.0
Group eliminations -19.1 -42.3 -67.0 -90.4
Segments total 320.6 878.3 1,632.1 2,307.4
Reconciling items -4.3 -12.0 -17.0 -33.3
Group total. IFRS 316.3 866.3 1,615.1 2,274.1
OPERATING PROFIT/LOSS 1-3/ 1-6/ 1-9/ 1-12/
EUR mill. 2011 2011 2011 2011
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International operations -13.3 3.6 30.9 42.2
Building Construction -4.3 -0.6 1.8 9.4
Infrastructure Construction 7.1 13.4 35.0 30.9
Technical Building Services 0.4 -0.7 1.3 2.8
Other operations -3.6 -7.1 -10.7 -16.6
Segments total -13.8 8.6 58.3 68.8
Reconciling items -14.2 -16.0 -14.0 -15.3
Group total, IFRS -28.0 -7.4 44.3 53.5
OPERATING PROFIT, % OF NET SALES 1-3/ 4-6/ 7-9/ 10-12/
EUR mill. 2011 2011 2011 2011
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International operations -18.4 1.4 5.5 5.2
Building Construction -3.0 -0.2 0.4 1.3
Infrastructure Construction 10.9 6.2 7.9 5.2
Technical Building Services 0.8 -0.6 0.8 1.2
Group total, IFRS -8.9 -0.9 2.7 2.4
NET SALES, QUARTERLY 1-3/ 4-6/ 7-9/ 10-12/
EUR mill. 2011 2011 2011 2011
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International operations 72.4 187.8 302.7 246.9
Building Construction 143.8 178.4 177.6 221.1
Infrastructure Construction 65.1 151.1 226.8 153.2
Technical Building Services 52.0 56.1 63.1 68.7
Other operations 6.5 7.4 8.3 8.8
Group eliminations -19.1 -23.2 -24.7 -23.4
Segments total 320.6 557.7 753.8 675.3
Reconciling items -4.3 -7.7 -5.0 -16.3
Group total, IFRS 316.3 550.0 748.8 659.0
OPERATING PROFIT/LOSS, QUARTERLY 1-3/ 4-6/ 7-9/ 10-12/
EUR mill. 2011 2011 2011 2011
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International operations -13.3 16.9 27.3 11.3
Building Construction -4.3 3.7 2.4 7.6
Infrastructure Construction 7.1 6.3 21.6 -4.1
Technical Building Services 0.4 -1.1 2.0 1.5
Other operations -3.6 -3.5 -3.6 -5.9
Segments total -13.8 22.4 49.7 10.5
Reconciling items -14.2 -1.8 2.0 -1.3
Group total, IFRS -28.0 20.6 51.7 9.2
OPERATING PROFIT, % OF NET SALES, QUARTERLY 1-3/ 4-6/ 7-9/ 10-12/
EUR mill. 2011 2011 2011 2011
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International operations -18.4 9.0 9.0 4.6
Building Construction -3.0 2.1 1.4 3.4
Infrastructure Construction 10.9 4.2 9.5 -2.7
Technical Building Services 0.8 -2.0 3.2 2.2
Group total, IFRS -8.9 3.8 6.9 1.4
ASSETS
EUR mill. 03/2011 06/2011 09/2011 12/2011
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International operations 212.1 321.4 354.2 304.0
Building Construction 373.5 372.6 337.4 418.1
Infrastructure Construction 163.0 213.6 216.5 158.8
Technical Building Services 32.2 35.2 35.5 35.2
Other operations 48.4 46.5 47.5 50.8
Segments total 829.1 989.3 991.1 966.9
Assets unallocated to segments
and Group eliminations, total 269.4 407.0 684.8 275.9
Group total, IFRS 1,098.5 1,396.3 1,675.9 1,242.8
ORDER BOOK BY BUSINESS SECTOR
EUR mill. 03/2011 06/2011 09/2011 12/2011
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International operations 445.7 563.2 527.2 482.5
Building Construction 632.2 666.8 629.8 580.5
Infrastructure Construction 285.9 389.5 214.7 238.3
Technical Building Services 107.9 115.4 113.7 99.0
Group total 1,471.7 1,734.8 1,485.4 1,400.4
- of which unsold 192.7 222.6 178.0 206.3
PERSONNEL BY BUSINESS SECTOR, AVERAGE
EUR mill. 03/2011 06/2011 09/2011 12/2011
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International operations 2,080 2,406 2,632 2,636
Building Construction 1,689 1,741 1,738 1,696
Infrastructure Construction 1,604 1,825 2,015 2,032
Technical Building Services 1,764 1,779 1,798 1,796
Parent company 226 238 253 261
Group total 7,363 7,989 8,436 8,421
Other adjustments in the 2011 financial statements
For the corresponding period, Lemminkäinen makes an adjustment for funds that
were prematurely entered in 2008 in connection with a claim for compensation.
As a result of the adjustment, profit is reduced by EUR 3.2 million and sales
and other receivables by EUR 4.4 million, and deferred tax receivables are
increased by EUR 1.1 million.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 1-3/ 1-6/ 1-9/ 1-12/
EUR mill. 2011 2011 2011 2011
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Non-current assets
Tangible assets 176.2 201.5 199.3 207.2
Goodwill 84.7 85.7 85.4 85.7
Other intangible assets 15.8 17.5 17.3 18.7
Investments 14.7 13.8 15.0 15.3
Deferred tax asset 23.4 31.5 30.0 19.4
Other non-current receivables 5.9 6.2 6.1 4.8
Total 320.8 356.2 353.1 351.0
Current assets
Inventories 404.3 455.9 460.3 448.5
Trade and other receivables 334.0 550.5 597.4 407.3
Income tax receivables 14.6 14.3 13.7 5.6
Cash funds 24.7 19.4 251.5 30.4
Total 777.7 1,040.1 1,322.8 891.8
Assets, total 1,098.5 1,396.3 1,675.9 1,242.8
Share capital 34.0 34.0 34.0 34.0
Share premium account 5.8 5.7 5.7 5.7
Hedging reserve -1.0 -0.9 -1.0 -0.9
Fair value reserve 0.1 0.0 0.0
Invested unrestricted equity reserve 63.1 63.2 63.2 63.2
Translation differences 2.4 2.2 -0.3 1.4
Retained earnings 220.7 210.9 210.6 210.6
Profit/loss for the period -11.7 0.6 35.3 34.7
Equity attributable to shareholders of the 313.4 315.7 347.5 348.7
parent company
Non-controlling interest 2.2 2.1 1.5 1.7
Shareholders' equity, total 315.6 317.9 349.0 350.4
Non-current liabilities
Deferred tax liabilities 17.4 20.1 21.3 21.7
Pension liabilities 0.6 3.5 3.3 3.9
Financial liabilities 141.4 191.0 342.4 194.6
Provisions 2.6 3.7 4.4 6.2
Other liabilities 3.9 3.1 2.8 3.2
Total 165.9 221.4 374.3 229.7
Current liabilities
Financial liabilities 253.2 330.1 272.1 237.0
Provisions 6.4 9.1 8.3 7.5
Accounts payable and other liabilities 348.2 507.6 659.0 416.4
Income tax liabilities 9.2 10.2 13.3 1.8
Total 617.0 857.0 952.6 662.7
Liabilities, total 782.9 1,078.4 1,326.9 892.4
Shareholders' equity and liabilities, total 1,098.5 1,396.3 1,675.9 1,242.8
ECONOMIC TRENDS AND FINANCIAL INDICATORS 1-3/ 1-6/ 1-9/ 1-12/
2011 2011 2011 2011
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Return on equity, rolling 12 months, % 1) 4.9 5.7 9.9 10.5
Return on investment, rolling 12 months, % 8.6 6.4 9.2 10.8
1)
Operating profit, % of net sales -8.9 -0.9 2.7 2.4
Equity ratio, % 32.6 25.9 23.3 30.8
Gearing, % 117.2 157.8 104.0 114.5
Interest-bearing net debt, EUR million 369.9 501.7 363.0 401.2
Gross investments, EUR million (incl. 9.5 50.1 62.2 84.0
leasing purchases)
Order book, EUR mill. 1,471.7 1,734.8 1,485.4 1,400.4
- of which orders outside Finland, EUR mill. 445.7 563.2 527.2 482.5
Average number of employees 7,363 7,989 8,436 8,421
Employees at end of period 7,576 9,432 9,121 7,929
Net sales, EUR mill. 316.3 866.3 1,615.1 2,274.1
- of which operations outside Finland, EUR 71.9 252.0 549.1 780.3
mill.
% of net sales 22.7 29.1 34.0 34.3
1) Includes the effect of discontinued
operations
SHARE-SPECIFIC INDICATORS 1-3/ 1-6/ 1-9/ 1-12/
2011 2011 2011 2011
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Earnings per share, EUR -0.59 0.03 1.80 1.77
Equity per share, EUR 15.95 16.07 17.69 17.75
Dividend per share, EUR 0.501)
Dividend to earnings ratio, % 28.3
Market capitalization, EUR mill. 517.4 455.6 396.8 367.8
Share price at end of period, EUR 26.34 23.19 20.20 18.72
Trading volume during period, 1,000 shares 890 1,738 3,125 3,367
Number of issued shares, 1,000 shares 19,645 19,645 19,645 19,645
Weighted average number of shares over the 19,645 19,645 19,645 19,645
period, 1,000 shares
1) Board of Directors' proposal to the AGM
LEMMINKÄINEN OYJ
Corporate Communications
MORE INFORMATION:
Robert Öhman, CFO
Lemminkäinen Corporation
Tel. +358 2071 53515
robert.ohman@lemminkainen.fi
Katri Sundström
Vice President, Investor Relations
Tel. +358 2071 54813
katri.sundstrom@lemminkainen.fi
DISTRIBUTION:
NASDAQ OMX Helsinki
key media
www.lemminkainen.com
Lemminkäinen Group operates in all areas of the construction sector. The
Group's business sectors are building construction, infrastructure
construction, technical building services and international operations. Net
sales in 2011 were about EUR 2.3 billion, of which international operations
accounted for roughly one third. The Group employs an average of 8,400 people.
Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange
Helsinki. www.lemminkainen.com
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