Espoo, Finland, 2011-04-26 14:00 CEST (GLOBE NEWSWIRE) -- Dovre Group Plc Stock exchange bulletin April 26, 2011 at 3:00 p.m.
In accordance with the company’s new strategy, Dovre Group Plc’s internal organization structure was changed in the beginning of 2011. The Group’s first interim report for 2011, to be published on April 28, 2011, will be prepared in accordance with the new reporting structure.
The Group consists of three business divisions: Project Personnel, Consulting, and Software. The reorganization has been realized by dividing the Group’s previous Oil & Gas Services division into two new divisions that will focus on project personnel services (Project Personnel division) and management consulting services (Consulting division).Camako, which was previously part of the Group’s Software Solutions division, has been integrated into the Consulting division. The Group’s Software division consists of Safran Software Solutions AS.
Project Personnel, Consulting, Software, and Group functions constitute separate reporting segments. Group functions consists of the Group’s management and administration.
As a result of the reorganization, and in accordance with IFRS 8 ‘Operating segments’, the Group has adjusted its segment information for the financial year 2010. The attached tables present the Group’s net sales and operating result per division in 2010 in accordance with both the new and the old segment reporting structure.
Dovre Group Plc
Ilkka Toivola
CEO
Dovre Group is a global provider of project management services and software. Dovre Group consists of three divisions: Project Personnel, Consulting, and Software. In 2010, the Group’s net sales were EUR 71 million. Dovre Group employs over 400 people serving clients in 21 countries worldwide.
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| Net sales according to the new reporting structure | ||||||
| 1-3 | 4-6 | 7-9 | 10-12 | 1-12 | ||
| (EUR million) | 2010 | 2010 | 2010 | 2010 | 2010 | |
| Project Personnel | 13.9 | 16.1 | 15.4 | 16.0 | 61.4 | |
| Consulting | 1.5 | 1.6 | 1.2 | 1.8 | 6.1 | |
| Software | 0.9 | 1.0 | 0.8 | 0.9 | 3.5 | |
| Group functions | 0.0 | 0.0 | 0.3 | 0.3 | 0.6 | |
| Net sales between segments | -0.1 | -0.1 | -0.3 | -0.3 | -0.9 | |
| Group total | 16.3 | 18.6 | 17.4 | 18.6 | 70.8 | |
| Net sales according to the old reporting structure | |||||||
| 1-3 | 4-6 | 7-9 | 10-12 | 1-12 | |||
| (EUR million) | 2010 | 2010 | 2010 | 2010 | 2010 | ||
| Oil & Gas Services | 14.7 | 16.7 | 16.0 | 16.8 | 64.1 | ||
| Software Solutions | 1.7 | 1.9 | 1.5 | 1.9 | 6.9 | ||
| Group functions | 0.0 | 0.0 | 0.3 | 0.3 | 0.6 | ||
| Net sales between segments | -0.1 | -0.1 | -0.3 | -0.3 | -0.9 | ||
| Group total | 16.3 | 18.6 | 17.4 | 18.6 | 70.8 | ||
| Operating result according to the new reporting structure | |||||||
| 1-3 | 4-6 | 7-9 | 10-12 | 1-12 | |||
| (EUR million) | 2010 | 2010 | 2010 | 2010 | 2010 | ||
| Project Personnel | 0.7 | 0.8 | 0.7 | 0.2 | 2.4 | ||
| Consulting | 0.0 | 0.2 | 0.1 | 0.3 | 0.6 | ||
| Software | 0.1 | 0.2 | 0.1 | 0.0 | 0.4 | ||
| Group functions | -0.3 | -0.3 | 0.9 | -0.2 | 0.1 | ||
| Operating result between segments | 0.0 | 0.0 | 0.0 | 0.0 | -0.2 | ||
| Group total | 0.5 | 0.9 | 1.8 | 0.2 | 3.4 | ||
| Operating result according to the old reporting structure | |||||||
| 1-3 | 4-6 | 7-9 | 10-12 | 1-12 | |||
| (EUR million) | 2010 | 2010 | 2010 | 2010 | 2010 | ||
| Oil & Gas Services | 0.7 | 1.0 | 0.8 | 0.3 | 2.9 | ||
| Software Solutions | 0.1 | 0.2 | 0.1 | 0.0 | 0.4 | ||
| Group functions | -0.3 | -0.3 | 0.9 | -0.2 | 0.1 | ||
| Operating result between segments | 0.0 | 0.0 | 0.0 | 0.0 | -0.2 | ||
| Group functions | 0.5 | 0.9 | 1.8 | 0.2 | 3.4 | ||