LEMMINKÄINEN CORPORATION STOCK EXCHANGE BULLETIN PROFIT WARNING 30.10.2008,
LEMMINKÄINEN CORPORATION'S FULL-YEAR EARNINGS FOR 2008 MAY FALL SHORT OF LAST
Lemminkäinen is amending the outlook reported in its interim financial review
for the period 1.1.-30.6.2008. The Company now estimates that full-year
earnings for 2008 will fall short of last year's level. Net sales and the
balance sheet will both grow.
Lemminkäinen reported earlier that net sales were expected to be higher than
last year, and that earnings would remain at the 2007 level. The Company's
financial position was expected to remain unchanged.
In Finland the outlook has been weakened by a sharp decline in demand for
housing as well as the cancellation of some already agreed commercial property
deals due to financial difficulties experienced by the buyers. In
infrastructure construction full-year earnings will be depressed by increased
input costs and the poor market situation in the Baltic States.
The outlook for Lemminkäinen's technical building services and building
products business sectors is still good.
Managing Director Juhani Sormaala, Lemminkäinen Corporation, tel. +358 2071
Lemminkäinen Group operates in all areas of the construction sector. Its
business sectors are building construction, infrastructure construction,
technical building services, and building products. Net sales in 2007 were
approx. EUR 2.2 billion, of which international operations accounted for over a
quarter. The Group employs about 9,200 people. Lemminkäinen Corporation's share
is quoted on NASDAQ OMX Helsinki Ltd.