Comparison figures for 2013, according to Lemminkäinen's new segment division

LEMMINKÄINEN CORPORATION   STOCK EXCHANGE RELEASE   5 MARCH 2014 AT 9:00 A.M.

 

COMPARISON FIGURES FOR 2013, ACCORDING TO LEMMINKÄINEN'S NEW SEGMENT DIVISION

Lemminkäinen published its new strategy for 2014 - 2018 in October 2013 and announced that it will renew its reporting structure. Until the end of 2013, Lemminkäinen's business was organised in four business segments: International Operations, Building Construction, Infrastructure Construction and Technical Building Services.

Based on the new strategy, Lemminkäinen will focus on insightful infrastructure solutions and Russia. The renewal will increase the transparency of reporting regarding Scandinavia and Russia. Project exports, which was previously reported in International Operations figures will we reported under the Finland and the Baltic countries, Infrastructure construction business segment.

From the beginning of 2014, Lemminkäinen's business operations are organised into five business segments:

  • Finland, Building construction
  • Finland and the Baltic countries, Infrastructure construction
  • Finland, Technical building services
  • Russia
  • Scandinavia

In 2013, Lemminkäinen did not have any discontinued operations. Therefore, the income statement segment figures equal to the Company's IFRS figures. Scandinavia segment's 2013 figures include telecommunication business' Asian and American operations which were divested in 2013.

Comparison figures for 2013, based on the new segment division, are presented in the following tables:  

 

NET SALES, EUR million 1-12/
2013
1-9/
2013
1-6/
2013
1-3/
2013
Finland, Building construction 592.9 388.7 239.5 123.1
Finland and the Baltic countries, Infrastructure construction 687.3 495.1 212.5 56.3
Finland, Technical building services 221.9 153.0 98.4 43.9
Russia 164.5 123.6 59.3 19.2
Scandinavia 611.9 454.9 235.6 71.4
Other operations and Group eliminations -60.4 -36.5 -17.7 -7.5
Group total, IFRS 2,218.2 1,578.7 827.6 306.4

 

 

DEPRECIATION AND IMPAIRMENT,
EUR million
1-12/
2013
1-9/
2013
1-6/
2013
1-3/
2013
Finland, Building construction 0.3 0.3 0.2 0.1
Finland and the Baltic countries, Infrastructure construction 22.9 17.3 8.9 2.9
Finland, Technical building services 0.7 0.6 0.4 0.2
Russia 1.7 1.2 0.7 0.3
Scandinavia 14.0 10.8 5.6 1.4
Other operations 5.7 4.2 2.8 0.9
Group total, IFRS 45.3 34.3 18.6 5.8

 

 

OPERATING PROFIT, EUR million 1-12/
2013
1-9/
2013
1-6/
2013
1-3/
2013
Finland, Building construction 5.0 9.6 2.1 4.1
Finland and the Baltic countries, Infrastructure construction 16.3 21.1 -8.6 -12.8
Finland, Technical building services -1.6 -2.6 -1.9 -1.4
Russia -0.3 2.4 -3.1 -3.6
Scandinavia -29.4 -8.2 -27.0 -20.8
Other operations -80.8 -11.1 -12.2 -3.7
Group total, IFRS -90.9 11.2 -50.7 -38.2

  

 

The Group's 1-12/2013 operating profit includes EUR 20.1 million write-downs, of which are divided as follows:

  • EUR 14.1 million to Building construction segment in Finland
  • EUR 3.0 million to Infrastructure construction segment in Finland and the Baltics
  • EUR 0.3 million to Technical building services segment in Finland
  • EUR 2.7 million to Scandinavia segment.

The Group's operating profit 1-12/2013 includes expenses from damages ordered by the District Court totaling EUR 65.6 million, which is subject to other operations.

The Group's operating profit 1-12/2013 without the mentioned write-downs and damages is EUR -5.2 million.

 

 

OPERATING MARGIN, % 1-12/
2013
1-9/
2013
1-6/
2013
1-3/
2013
Finland, Building construction 0.8 2.5 0.9 3.3
Finland and the Baltic countries, Infrastructure construction 2.4 4.3 -4.0 -22.7
Finland, Technical building services -0.7 -1.7 -1.9 -3.2
Russia -0.2 1.9 -5.2 -18.8
Scandinavia -4.8 -1.8 -11.5 -29.1
Group total, IFRS -4.1 0.7 -6.1 -12.5

 

The Group operating profit margin 1-12/2013 without the mentioned write-downs and damages is -0,2%.

 

 

NET SALES, QUARTERLY, EUR million 10-12/
2013
7-9/
2013
4-6/
2013
1-3/
2013
Finland, Building construction 204.2 149.2 116.4 123.1
Finland and the Baltic countries, Infrastructure construction 192.2 282.6 156.2 56.3
Finland, Technical building services 68.9 54.6 54.5 43.9
Russia 40.9 64.3 40.1 19.2
Scandinavia 157.0 219.3 164.2 71.4
Other operations and Group eliminations -23.9 -18.8 -10.2 -7.5
Group total, IFRS 639.5 751.0 521.2 306.4

 

 

DEPRECIATION AND IMPAIRMENT, QUARTERLY, EUR million 10-12/
2013
7-9/
2013
4-6/
2013
1-3/
2013
Finland, Building construction 0.0 0.1 0.1 0.1
Finland and the Baltic countries, Infrastructure construction 5.6 8.4 6.0 2.9
Finland, Technical building services 0.1 0.2 0.2 0.2
Russia 0.5 0.5 0.4 0.3
Scandinavia 3.2 5.2 4.2 1.4
Other operations 1.5 1.4 1.9 0.9
Group total, IFRS 11.0 15.7 12.8 5.8

 

 

OPERATING PROFIT, QUARTERLY,
EUR million
10-12/
2013
7-9/
2013
4-6/
2013
1-3/
2013
Finland, Building construction -4.6 7.5 -2.0 4.1
Finland and the Baltic countries, Infrastructure construction -4.8 29.7 4.2 -12.8
Finland, Technical building services 1.0 -0.7 -0.5 -1.4
Russia -2.7 5.5 0.5 -3.6
Scandinavia -21.2 18.8 -6.2 -20.8
Other operations -69.7 1.1 -8.5 -3.7
Group total, IFRS -102.0 61.8 -12.4 -38.2

  

The Group's 10-12/2013 operating profit includes EUR 20.1 million write-downs, of which are divided as follows:

  • EUR 14.1 million to Building construction segment in Finland
  • EUR 3.0 million to Infrastructure construction segment in Finland and the Baltics
  • EUR 0.3 million to Technical building services segment in Finland
  • EUR 2.7 million to Scandinavia segment.

The Group's operating profit 10-12/2013 includes expenses from damages ordered by the District Court totaling EUR 65.6 million, which is subject to other operations.

The Group's operating profit 10-12/2013 without the mentioned write-downs and damages is EUR -16.3 million.

 

OPERATING MARGIN, QUARTERLY, % 10-12/
2013
7-9/
2013
4-6/
2013
1-3/
2013
Finland, Building construction -2.3 5.0 -1.7 3.3
Finland and the Baltic countries, Infrastructure construction -2.5 10.5 2.7 -22.7
Finland, Technical building services 1.5 -1.3 -0.9 -3.2
Russia -6.6 8.6 1.2 -18.8
Scandinavia -13.5 8.6 -3.8 -29.1
Group total, IFRS -16.0 8.2 -2.4 -12.5

 

The Group operating profit margin 10-12/2013 without the mentioned write-downs and damages
is -2.5%.

 

ASSETS, EUR million 12/2013 9/2013 6/2013 3/2013
Finland, Building construction 454.6 516.4 494.5 425.0
Finland and the Baltic countries, Infrastructure construction 249.7 308.0 296.5 241.6
Finland, Technical building services 61.8 58.5 56.9 56.4
Russia 152.2 142.9 117.3 111.3
Scandinavia 284.2 309.3 307.1 260.8
Other operations 47.8 44.6 50.5 45.7
Segments total 1,250.3 1,379.7 1,322.8 1,140.8
Assets unallocated to segments and Group eliminations, total 92.4 253.2 139.0 146.4
Group total, IFRS 1,342.7 1,632.9 1,461.8 1,287.2

 

 

ORDER BOOK, EUR million 12/2013 9/2013 6/2013 3/2013
Finland, Building construction 544.3 661.4 667.8 608.6
Finland and the Baltic countries, Infrastructure construction 510.0 415.0 413.4 386.3
Finland, Technical building services 88.1 113.3 111.6 95.9
Russia 322.2 383.0 353.8 156.0
Scandinavia 356.7 420.7 538.5 379.4
Group total 1,821.3 1,993.4 2,085.1 1,626.2
- of which unsold 346.5 412.6 460.0 201.7

 

 

PERSONNEL ON AVERAGE, persons 12/2013 9/2013 6/2013 3/2013
Finland, Building construction 1,391 1,430 1,445 1,395
Finland and the Baltic countries, Infrastructure construction 2,351 2,366 2,135 1,751
Finland, Technical building services 1,658 1,669 1,638 1,582
Russia 751 751 742 725
Scandinavia 1,369 1,374 1,354 1,352
Parent company 303 309 307 301
Group total 7,823 7,899 7,620 7,107

  

LEMMINKÄINEN CORPORATION
Corporate Communications

 

ADDITIONAL INFORMATION:
Katri Sundström
Vice President, Investor Relations
Tel. +358 2071 54813
katri.sundstrom@lemminkainen.com

 

DISTRIBUTION:
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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 7,800 experts. In 2013, our net sales were about EUR 2.2 billion. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com