Damages related to the asphalt cartel make Lemminkäinen’s 2013 result clearly negative
LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 28 NOVEMBER 2013 AT 10.01 A.M.
DAMAGES RELATED TO THE ASPHALT CARTEL MAKE LEMMINKÄINEN’S 2013 RESULT CLEARLY NEGATIVE
On 28 November, the District Court of Helsinki has given its decisions in the legal proceedings concerning damages related to the asphalt cartel. Due to the damages, Lemminkäinen lowers its profit guidance for 2013. The new guidance is: "Net sales in 2013 are expected to be on a par with 2012. Result will be clearly negative."
The earlier profit guidance, issued in the interim report on 7 November 2013, was: "Net sales in 2013 will be on a par with last year but the operating profit for 2013 is expected to fall short of 2012. In 2012, Lemminkäinen's net sales totalled EUR 2,268 million and its operating profit amounted to EUR 50 million."
Timo Kohtamäki, President & CEO
tel. +358 2071 53263
Robert Öhman, CFO
tel. +358 2071 53515
NASDAQ OMX Helsinki
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 8,200 experts. In 2012, our net sales were about EUR 2.3 billion. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com