Year 2009
5.11.2009
(Interim Report 1-9/2009)
Lemminkäinen reiterates its earlier guidance, according to which the Group’s full-year net sales will fall well short of the 2008 level. As a consequence of the infringement fine imposed by the Supreme Administrative Court, the Company’s result for the 2009 accounting period will be clearly negative.
6.8.2009
(Interim Report 1-6/2009)
In building construction the emphasis in residential construction has shifted to rental housing production. Housing sales have clearly picked up and conditions are favourable for sustained demand at the H1 level. In commercial construction Lemminkäinen's order book for the remainder of the year is good. In Russia housing sales are brisker than last year, but demand for construction is not expected to grow significantly.
In Finland the worsened financial difficulties of the municipalities may reduce basis road maintenance investments already in the second half of this year. In Sweden, Norway and Denmark significant stimulus packages are keeping demand for infrastructure construction at a good level and will continue to do so in the near future. In Russia and the Baltic states demand for construction is weak and the competitive situation in some places is very challenging.
Demand for refurbishment contracting as well as the maintenance and servicing of technical building and facility systems is expected to remain stable.
Lemminkäinen Group's full-year net sales and result before taxes will fall well short of the 2008 level.
7.5.2009
(Interim Report 1-3/2009)
In the building construction business sector commercial construction will retreat from the peak level of recent years. The emphasis in residential construction is shifting towards rental housing production. Housing sales in Finland have picked up since the fourth quarter of 2008. In Russia the uncertain economic situation will keep the volume of Lemminkäinen's business at a subdued level.
The stimulus measures introduced by the governments of the Nordic countries will show up most clearly in infrastructure construction, and the market situation will remain favourable in almost all of Lemminkäinen's business areas. Major infrastructure projects in the pipeline are also expected to boost the Company's order book in the coming years. Cost pressures, especially in paving operations, have weakened with the decline of raw material prices. On the other hand, the distressed state of municipal finances may reduce investments in basic road maintenance towards the end of the year. In Russia and the Baltic states, demand will be weak and the competitive situation extremely difficult.
Demand for refurbishment contracting as well as the maintenance and servicing of technical building and facility systems is expected to remain good. These services already account for about a half of Lemminkäinen's net sales in the technical building services business sector.
Full-year net sales and the result before taxes in 2009 will fall well short of the 2008 level, as was stated in Lemminkäinen's financial statements release dated 12 February 2009.
12.2.2009
(Financial Statements 2008)
The volume of new building construction in Finland will contract in 2009. No significant pick-up in the housing market is expected, and there will be a marked reduction in commercial and office construction activity, especially towards the end of the year. Refurbishment contracting will continue to grow steadily. In Russia the uncertain economic situation will probably keep the volume of construction at a low level.
The Finnish government has decided on a stimulus package that will boost infrastructure appropriations for 2009. Major infrastructure projects now starting up will keep the market situation favourable for the next few years. Inother Nordic countries the situation will be similar to Finland, but the marketsof the Baltic states will remain weak.
Forecasting economic development over the second half of the year is exceptionally challenging. Based on the existing order book and the uncertain market situation, Lemminkäinen expects its full-year net sales and profit beforetaxes to fall well short of the 2008 level.
Updated 5.11.2009