Comparative figures for 2014 according to Lemminkäinen’s new business segment division

LEMMINKÄINEN CORPORATION   STOCK EXCHANGE RELEASE  24 MARCH 2015 AT 2:00 P.M.

COMPARATIVE FIGURES FOR 2014 ACCORDING TO LEMMINKÄINEN’S NEW BUSINESS SEGMENT DIVISION

Lemminkäinen changed its reporting structure on 1 January 2015. The earlier Infrastructure construction business segment was divided into two. The paving, mineral aggregates and earthworks businesses were transferred to the new Paving business segment. Foundation engineering, civil engineering and rock engineering constitute the new Infra projects business segment. As of 1 January 2015, the reportable business segments are: Paving; Infra projects; Building Construction, Finland; and Russian operations. The Group parent company, and other operations and assets unallocated to the segments, such as building construction in Sweden, an associated company engaged in the real estate rental business called Finavo Oy as well as companies managing individual plots and plants mainly outside Finland are reported as part of the Group’s other operations.

In addition, Lemminkäinen has changed its accounting principles for segment reporting as of 1 January 2015. The company will in the future report the operating capital for the Group and each segment. The operating capital consists of property, plant and equipment, goodwill, other intangible assets and net working capital. However, the net working capital allocated to the segments excludes accrued personnel expenses and accrued interest, accruals related to derivatives as well as accrued direct and indirect taxes. These figures are reported separately as items unallocated to segments.

The tables below present adjusted comparable figures for 2014 according to the new segment division. The interim report for January–March 2015 will be published according to the new structure.

KEY FIGURES, CONTINUING OPERATIONS 1‒12/ 1‒9/ 1‒6/ 1‒3/
EUR million 2014 2014 2014 2014
Net sales, Group 2,044.5 1,436.2 789.8 279.2
Paving 907.5 671.3 303.8 60.0
Infra projects 286.0 212.6 135.1 59.6
Building construction, Finland 539.0 373.0 251.1 115.9
Russian operations 196.1 114.1 50.1 16.0
Other operations 179.2 108.9 76.6 35.5
Group eliminations -63.3 -43.7 -27.0 -7.9
Depreciation and impairment, Group 44.4 33.3 17.3 6.0
Paving 30.0 22.5 10.8 2.8
Infra projects 6.3 4.7 3.1 1.5
Building construction, Finland 0.3 0.2 0.1 0.1
Russian operations 1.9 1.4 0.8 0.3
Other operations 6.1 4.5 2.6 1.3
Operating profit, Group 36.3 36.2 -2.5 -17.3
Paving 32.2 27.0 -5.8 -20.1
Infra projects 7.2 5.7 1.6 1.9
Building construction, Finland 9.3 12.3 12.0 6.1
Russian operations 19.7 9.6 -1.0 -1.4
Other operations -32.2 -18.3 -9.2 -3.7
Operating margin, Group, % 1.8 2.5 -0.3 -6.2
Paving, % 3.5 4.0 -1.9 -33.5
Infra projects, % 2.5 2.7 1.2 3.2
Building construction, Finland, % 1.7 3.3 4.8 5.3
Russian operations, % 10.1 8.4 -2.0 -8.8

   

KEY FIGURES, CONTINUING OPERATIONS 10‒12/ 7‒9/ 4‒6/ 1‒3/
EUR million 2014 2014 2014 2014
Net sales, Group 608.3 646.4 510.5 279.2
Paving 236.2 367.4 243.8 60.0
Infra projects 73.4 77.4 75.5 59.6
Building construction, Finland 165.9 121.9 135.2 115.9
Russian operations 82.0 64.0 34.1 16.0
Other operations 70.3 32.3 41.0 35.5
Group eliminations -19.6 -16.7 -19.1 -7.9
Depreciation and impairment, Group 11.2 16.0 11.3 6.0
Paving 7.5 11.7 8.0 2.8
Infra projects 1.6 1.6 1.6 1.5
Building construction, Finland 0.1 0.1 0.0 0.1
Russian operations 0.5 0.6 0.5 0.3
Other operations 1.6 1.9 1.3 1.3
Operating profit, Group 0.1 38.7 14.8 -17.3
Paving 5.2 32.8 14.3 -20.1
Infra projects 1.5 4.1 -0.3 1.9
Building construction, Finland -2.9 0.3 5.9 6.1
Russian operations 10.2 10.6 0.4 -1.4
Other operations -13.9 -9.1 -5.5 -3.7
Operating margin, Group, % 0.0 6.0 2.9 -6.2
Paving, % 2.2 8.9 5.9 -33.5
Infra projects, % 2.1 5.3 -0.4 3.2
Building construction, Finland, % -1.8 0.2 4.4 5.3
Russian operations, % 12.4 16.6 1.2 -8.8

   

OPERATING CAPITAL        
EUR million 12/2014 9/2014 6/2014 3/2014
Paving 262.1 277.6 307.0 268.7
Infra projects -0.9 22.6 17.6 17.4
Building construction, Finland 303.7 283.6 297.9 285.7
Russian operations 68.4 91.7 93.6 88.0
Other operations 35.5 51.2 51.4 56.3
Technical building services, Finland (divested on 13 June 2014)       37.0
Items unallocated to segments -78.4 -98.8 -70.5 -62.0
Group total 590.4 627.9 697.0 691.1

   

ORDER BOOK, CONTINUING OPERATIONS        
EUR million 12/2014 9/2014 6/2014 3/2014
Paving 334.3 411.7 649.8 527.2
Infra projects 214.5 263.5 293.0 366.5
Building construction, Finland 687.1 845.9 653.0 556.6
Russian operations 86.4 213.6 310.8 324.5
Other operations 133.8 176.2 180.2 126.3
Group total 1,456.1 1,910.9 2,086.8 1,901.2
- of which unsold 188.7 307.8 313.1 323.5

   

PERSONNEL AT THE END OF PERIOD, CONTINUING OPERATIONS        
Persons 12/2014 9/2014 6/2014 3/2014
Paving 2,225 3,291 3,385 2,309
Infra projects 439 432 477 430
Building construction, Finland 1,038 1,105 1,236 1,152
Russian operations 635 723 812 804
Other operations and parent company 411 456 578 556
Group total 4,748 6,007 6,488 5,251

  

LEMMINKÄINEN CORPORATION
Corporate Communications

 

ADDITIONAL INFORMATION:
Katri Sundström, Head of Investor Relations

Tel. + 358 2071 54813
katri.sundstrom@lemminkainen.com

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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 5,600 professionals. In 2014, our net sales were about EUR 2.0 billion. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com