Lemminkäinen Group

Lemminkäinen is known for its expertise in building construction, infrastructure construction and technical building services. Finland is our main market, but we also operate in the other Nordic countries, Russia and Baltic countries. With a hundred years of experience we create conditions that make living, working and travelling easy, safe and healthy. In the future, we will be seeking growth from renovation, Russian residential construction and Nordic infrastructure construction in particular.
Lemminkäinen Fact Sheet >>

Our main goals for the strategic period 2010–2013 are to enhance our business operations, improve our financial position and create one united Lemminkäinen through restructuring and harmonized working methods. Using this approach, we are seeking average annual net sales growth of 10 per cent, a return on investment of 18 per cent and an equity ratio of 35 per cent. We also aim for a stable distribution of dividends in which at least 40% of the result for the financial year is distributed as dividends to the shareholders.
Read more about Lemminkäinen´s strategy »

In 2012 Lemminkäinen´s net sales totalled EUR 2.3 billion, of which operations outside Finland accounted for 38 %. The Group had about 8,200 employees in 2012.
Group key figures »

Lemminkäinen Corporation’s share is listed on NASDAQ OMX Helsinki.
Lemminkäinen´s share monitor >>


Lemminkäinen´s business operations are organised into four business segments:

	International operations The International Operations business segment contains all Lemminkäinen's business functions outside Finland. In addition to Finland, Lemminkäinen's main market areas comprise Sweden, Norway, Denmark, Russia and the Baltic countries. The main focus is on Infrastructure constructution in Scandinavia and Housing construction in St. Petersburg. The share of International Operations out of Group´s net sales is about one third, and Lemminkäinen´s target is to increase it to 40 per cent.
	Building construction Lemminkäinen is one of the Finland's largest building constructors. Building Construction offers residential and non-residential construction, renovation, property development and life cycle projects. At present, development operations accounts for approximately a quarter of the business segment's turnover, whereas the rest derive from contracting. Lemminkäinen's aim is to increase the share of development operations to over 50 per cent. Capital invested in development operations generates profit in a favourable economic climate.
	Infrastructure construction Lemminkäinen is Finland's largest constructor of infrastructure. The business segment offers paving and mineral aggregates; civil, foundation and rock engineering; as well as road, street and rail network construction and maintenance. Lemminkäinen specialises in demanding foundation, rock and concrete engineering (ie. special contracting in infrastructure construction) – with a focus on growth centres – as well as rock engineering projects for mines. Infrastructure Construction produces stable results independent of the economic climate.
	Technical building services Lemminkäinen is one of the three largest providers of installation and maintenance services for technical building systems in Finland. Lemminkäinen offers end-to-end services that cover the entire life cycle of the property. The business segment also specialises in cooling and sprinkler systems. Presently, maintenance services account for approximately a third of the Technical Building Services´ turnover. The company's aim is to increase this share to about 50 per cent. Maintenance services generate uninterrupted cash flow.

 Key Financials by business segment in 2012

Lemminkäinen's financial situation subject to quarterly fluctuation

Lemminkäinen's business is subject to seasonal fluctuation. The most strongly affected business area is paving, where work starts in spring and comes to a standstill in winter. In Norway and Denmark, however, the paving season is usually longer than in Finland, sometimes even continuing throughout the year. Paving accounts for roughly a third of Lemminkäinen's total business.

Seasonal fluctuation is reflected in Lemminkäinen's quarterly reports. Typically, a loss is posted for the first quarter, while the third quarter results are above average. At this point, the total profit for the financial year is usually clearly positive. Due to seasonal fluctuation, the share of invested capital and interest-bearing liabilities is usually at its largest during the first half of the year. Only the key figures in the financial statement for the entire year provide an appropriate description of the company's financial situation.

Read more:

• Lemminkäinen's key financials: annually and quarterly
• Lemminkäinen's financial position and loans

Updated 12.2.2013