2014-07-30 13:30:00 CEST
2014-07-30 13:30:02 CEST
REGULATED INFORMATION
Lemminkäinen - Company Announcement
Comparison figures for 2013, according to Lemminkäinen's new segment division
LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 30 JULY 2014 AT 2:30 P.M.
COMPARISON FIGURES FOR 2013, ACCORDING TO LEMMINKÄINEN'S NEW SEGMENT DIVISION
Lemminkäinen announced on 30 July 2014 that it has reviewed its strategy and
sharpens its strategic focus after the divestment of Technical building
services. The company also announced that it will renew its reporting
structure. Until 1 August 2014, Lemminkäinen's business is organised in five
business segments: Finland, Building construction; Finland and the Baltic
countries, Infrastructure construction; Finland, Technical building services;
Russia and Scandinavia.
The new reporting structure supports the implementation of the company's
strategy as it creates more focused management for the whole infrastructure
construction, which will increase the opportunities to improve operational
efficiency and to share best practices across borders. In the long term, the
company seeks profitable growth by leveraging its strong market position in the
infrastructure construction in Northern Europe. The company estimates that the
outlook for infrastructure construction is good especially in Norway and
Sweden. In building construction in Finland and Russia, where the market
outlook continues to be uncertain, Lemminkäinen is focusing its operations on
profitable customer segments and areas.
As of 1 August 2014, Lemminkäinen's business operations are organised into
three business segments:
-- Infrastructure construction
-- Finland, Building construction
-- Russian operations
The interim report for January-September 2014 will be based on the new
reporting structure. The previous Scandinavia business segment will be
integrated into the Infrastructure construction segment. The building
construction business in Sweden will be reported under Infrastructure
construction. Russian operations will include both building construction and
infrastructure construction activities.
In addition, the company will change its accounting principles for segment
reporting as of 1 August 2014. According to the changed accounting principle,
only continuing operations are included in the segment reporting income
statement figures. As a consequence, income statement items in the company's
segment reporting will comply with the consolidated financial statement's
accounting principles. The comparison periods' figures have been adjusted to
comply with the new accounting principle.
Comparison figures based on the new segment division and adjusted with the
changed accounting principle for January - June 2014 and for the year 2013 are
presented in the following tables:
NET SALES, EUR million 1-6/ 1-3/ 1-12/ 1-9/ 1-6/ 1-3/
2014 2014 2013 2013 2013 2013
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Infrastructure construction 494.2 149.4 1,279.2 938.9 443.1 125.0
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Finland, Building construction 251.1 115.9 592.9 388.7 239.5 123.1
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Russian operations 50.1 16.0 164.5 123.6 59.3 19.2
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Other operations 15.3 7.3 35.9 28.0 13.2 10.1
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Group eliminations -20.9 -9.4 -52.3 -39.2 -19.2 -12.3
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Group total, IFRS 789.8 279.2 2,020.1 1,440.1 736.0 265.2
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DEPRECIATION AND IMPAIRMENT, 1-6/ 1-3/ 1-12/ 1-9/ 1-6/ 1-3/
EUR million 2014 2014 2013 2013 2013 2013
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Infrastructure construction 14.9 4.7 36.9 28.1 14.5 4.3
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Finland, Building construction 0.1 0.1 0.3 0.3 0.2 0.1
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Russian operations 0.8 0.3 1.7 1.2 0.7 0.3
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Other operations 1.5 0.9 5.7 4.2 2.8 0.9
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Group total, IFRS 17.3 6.0 44.6 33.8 18.3 5.6
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OPERATING PROFIT, EUR million 1-6/ 1-3/ 1-12/ 1-9/ 1-6/ 1-3/
2014 2014 2013 2013 2013 2013
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Infrastructure construction -3.4 -18.0 -13.1 12.9 -35.6 -33.6
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Finland, Building construction 12.0 6.1 5.0 9.6 2.1 4.1
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Russian operations -1.0 -1.4 -0.3 2.4 -3.1 -3.6
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Other operations -10.1 -4.0 -80.8 -11.1 -12.2 -3.7
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Group total, IFRS -2.5 -17.3 -89.3 13.7 -48.8 -36.9
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OPERATING MARGIN, % 1-6/ 1-3/ 1-12/ 1-9/ 1-6/ 1-3/
2014 2014 2013 2013 2013 2013
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Infrastructure construction -0.7 -12.0 -1.0 1.4 -8.0 -26.8
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Finland, Building construction 4.8 5.3 0.8 2.5 0.9 3.3
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Russian operations -2.0 -8.8 -0.2 2.0 -5.2 -18.8
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NET SALES, QUARTERLY, 4-6/ 1-3/ 10-12/ 7-9/ 4-6/ 1-3/
EUR million 2014 2014 2013 2013 2013 2013
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Infrastructure construction 344.8 149.4 340.1 495.9 318.0 125.0
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Finland, Building construction 135.2 115.9 204.2 149.2 116.4 123.1
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Russian operations 34.1 16.0 40.9 64.3 40.1 19.2
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Other operations 8.0 7.3 7.9 14.8 3.1 10.1
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Group eliminations -11.5 -9.4 -13.1 -20.0 -6.9 -12.3
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Group total, IFRS 510.5 279.2 580.0 704.1 470.8 265.2
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DEPRECIATION AND IMPAIRMENT, QUARTERLY, 4-6/ 1-3/ 10-12/ 7-9/ 4-6/ 1-3/
EUR million 2014 2014 2013 2013 2013 2013
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Infrastructure construction 10.2 4.7 8.8 13.6 10.2 4.3
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Finland, Building construction 0.0 0.1 0.0 0.1 0.1 0.1
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Russian operations 0.5 0.3 0.5 0.5 0.4 0.3
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Other operations 0.6 0.9 1.5 1.4 1.9 0.9
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Group total, IFRS 11.3 6.0 10.9 15.5 12.6 5.6
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OPERATING PROFIT, QUARTERLY, 4-6/ 1-3/ 10-12/ 7-9/ 4-6/ 1-3/
EUR million 2014 2014 2013 2013 2013 2013
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Infrastructure construction 14.6 -18.0 -26.0 48.5 -2.0 -33.6
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Finland, Building construction 5.9 6.1 -4.6 7.5 -2.0 4.1
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Russian operations 0.4 -1.4 -2.7 5.5 0.5 -3.6
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Other operations -6.1 -4.0 -69.7 1.1 -8.5 -3.7
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Group total, IFRS 14.8 -17.3 -103.0 62.5 -11.9 -36.9
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OPERATING MARGIN, QUARTERLY, % 4-6/ 1-3/ 10-12/ 7-9/ 4-6/ 1-3/
2014 2014 2013 2013 2013 2013
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Infrastructure construction 4.2 -12.0 -7.6 9.8 -0.6 -26.8
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Finland, Building construction 4.4 5.3 -2.3 5.0 -1.7 3.3
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Russian operations 1.2 -8.8 -6.6 8.6 1.2 -18.8
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ASSETS, EUR million 6/2014 3/2014 12/2013 9/2013 6/2013 3/2013
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Infrastructure 606.8 485.8 533.9 617.3 603.6 502.4
construction
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Finland, Building 496.4 473.7 454.6 515.2 494.5 425.0
construction
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Russian operations 184.9 177.5 152.2 142.9 117.3 111.3
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Other operations 47.8 45.2 47.8 44.6 50.5 45.7
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Technical Building 56.1 61.8 58.5 56.9 56.4
Services, Finland
(divested on 13 June
2014)
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Assets unallocated to 127.5 68.3 92.4 253.5 139.0 146.4
segments and Group
eliminations, total
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Group total, IFRS 1,463.4 1,306.5 1,342.7 1,632.0 1,461.8 1,287.2
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ORDER BOOK, CONTINUING 6/2014 3/2014 12/2013 9/2013 6/2013 3/2013
OPERATIONS, EUR million
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Infrastructure 1,123.0 1,020.1 866.7 835.7 951.9 765.7
construction
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Finland, Building 653.0 556.6 544.3 661.4 667.8 608.6
construction
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Russian operations 310.8 324.5 322.2 383.0 353.8 156.0
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Group total 2,086.8 1,901.2 1,733.2 1,880.1 1,973.5 1,530.3
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- of which unsold 313.1 323.5 346.5 412.7 460.0 201.7
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PERSONNEL ON AVERAGE, CONTINUING 6/2014 3/2014 12/201 9/2013 6/2013 3/2013
OPERATIONS, persons 3
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Infrastructure construction 4,165 3,040 3,266 4,217 4,216 3,213
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Finland, Building construction 1,236 1,152 1,224 1,344 1,571 1,377
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Russian operations 812 804 755 767 779 744
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Parent company 275 255 281 304 321 303
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Group total 6,488 5,251 5,526 6,632 6,887 5,637
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LEMMINKÄINEN CORPORATION
Corporate Communications
ADDITIONAL INFORMATION:
Katri Sundström, Head of Investor Relations
Tel. +358 2071 54813
katri.sundstrom@lemminkainen.com
DISTRIBUTION:
NASDAQ OMX Helsinki
Key media
www.lemminkainen.com
Together with our customers we create conditions that make living, working and
travelling functional, safe and healthy. We operate in northern Europe and
employ about 6,000 professionals. In 2013, our net sales were about EUR 2.0
billion. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic
Exchange Helsinki. www.lemminkainen.com
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