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

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LEMMINKÄINEN CORPORATION   STOCK EXCHANGE RELEASE   30 JULY 2014 AT 2:30 P.M.

 

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

Lemminkäinen announced on 30 July 2014 that it has reviewed its strategy and sharpens its strategic focus after the divestment of Technical building services. The company also announced that it will renew its reporting structure. Until 1 August 2014, Lemminkäinen's business is organised in five business segments: Finland, Building construction; Finland and the Baltic countries, Infrastructure construction; Finland, Technical building services; Russia and Scandinavia.

The new reporting structure supports the implementation of the company’s strategy as it creates more focused management for the whole infrastructure construction, which will increase the opportunities to improve operational efficiency and to share best practices across borders. In the long term, the company seeks profitable growth by leveraging its strong market position in the infrastructure construction in Northern Europe. The company estimates that the outlook for infrastructure construction is good especially in Norway and Sweden. In building construction in Finland and Russia, where the market outlook continues to be uncertain, Lemminkäinen is focusing its operations on profitable customer segments and areas. 

As of 1 August 2014, Lemminkäinen's business operations are organised into three business segments:

  • Infrastructure construction
  • Finland, Building construction
  • Russian operations

The interim report for January-September 2014 will be based on the new reporting structure. The previous Scandinavia business segment will be integrated into the Infrastructure construction segment. The building construction business in Sweden will be reported under Infrastructure construction. Russian operations will include both building construction and infrastructure construction activities.

In addition, the company will change its accounting principles for segment reporting as of 1 August 2014. According to the changed accounting principle, only continuing operations are included in the segment reporting income statement figures. As a consequence, income statement items in the company’s segment reporting will comply with the consolidated financial statement’s accounting principles. The comparison periods' figures have been adjusted to comply with the new accounting principle.

Comparison figures based on the new segment division and adjusted with the changed accounting principle for January - June 2014 and for the year 2013 are presented in the following tables:  

 

NET SALES, EUR million 1-6/
2014
1-3/
2014
1-12/
2013
1-9/
2013
1-6/
2013
1-3/
2013
Infrastructure construction 494.2 149.4 1,279.2 938.9 443.1 125.0
Finland, Building construction 251.1 115.9 592.9 388.7 239.5 123.1
Russian operations 50.1 16.0 164.5 123.6 59.3 19.2
Other operations 15.3 7.3 35.9 28.0 13.2 10.1
Group eliminations -20.9 -9.4 -52.3 -39.2 -19.2 -12.3
Group total, IFRS 789.8 279.2 2,020.1 1,440.1 736.0 265.2

 

 

DEPRECIATION AND IMPAIRMENT,
EUR million
1-6/
2014
1-3/
2014
1-12/
2013
1-9/
2013
1-6/
2013
1-3/
2013
Infrastructure construction 14.9 4.7 36.9 28.1 14.5 4.3
Finland, Building construction 0.1 0.1 0.3 0.3 0.2 0.1
Russian operations 0.8 0.3 1.7 1.2 0.7 0.3
Other operations 1.5 0.9 5.7 4.2 2.8 0.9
Group total, IFRS 17.3 6.0 44.6 33.8 18.3 5.6

 

 

OPERATING PROFIT, EUR million 1-6/
2014
1-3/
2014
1-12/
2013
1-9/
2013
1-6/
2013
1-3/
2013
Infrastructure construction -3.4 -18.0 -13.1 12.9 -35.6 -33.6
Finland, Building construction 12.0 6.1 5.0 9.6 2.1 4.1
Russian operations -1.0 -1.4 -0.3 2.4 -3.1 -3.6
Other operations -10.1 -4.0 -80.8 -11.1 -12.2 -3.7
Group total, IFRS -2.5 -17.3 -89.3 13.7 -48.8 -36.9

 

 

OPERATING MARGIN, % 1-6/
2014
1-3/
2014
1-12/
2013
1-9/
2013
1-6/
2013
1-3/
2013
Infrastructure construction -0.7 -12.0 -1.0 1.4 -8.0 -26.8
Finland, Building construction 4.8 5.3 0.8 2.5 0.9 3.3
Russian operations -2.0 -8.8 -0.2 2.0 -5.2 -18.8

 

 

NET SALES, QUARTERLY,
EUR million
4-6/
2014
1-3/
2014
10-12/
2013
7-9/
2013
4-6/
2013
1-3/
2013
Infrastructure construction 344.8 149.4 340.1 495.9 318.0 125.0
Finland, Building construction 135.2 115.9 204.2 149.2 116.4 123.1
Russian operations 34.1 16.0 40.9 64.3 40.1 19.2
Other operations 8.0 7.3 7.9 14.8 3.1 10.1
Group eliminations -11.5 -9.4 -13.1 -20.0 -6.9 -12.3
Group total, IFRS 510.5 279.2 580.0 704.1 470.8 265.2

 

 

DEPRECIATION AND IMPAIRMENT, QUARTERLY, EUR million 4-6/
2014
1-3/
2014
10-12/
2013
7-9/
2013
4-6/
2013
1-3/
2013
Infrastructure construction 10.2 4.7 8.8 13.6 10.2 4.3
Finland, Building construction 0.0 0.1 0.0 0.1 0.1 0.1
Russian operations 0.5 0.3 0.5 0.5 0.4 0.3
Other operations 0.6 0.9 1.5 1.4 1.9 0.9
Group total, IFRS 11.3 6.0 10.9 15.5 12.6 5.6

 

 

OPERATING PROFIT, QUARTERLY,
EUR million
4-6/
2014
1-3/
2014
10-12/
2013
7-9/
2013
4-6/
2013
1-3/
2013
Infrastructure construction 14.6 -18.0 -26.0 48.5 -2.0 -33.6
Finland, Building construction 5.9 6.1 -4.6 7.5 -2.0 4.1
Russian operations 0.4 -1.4 -2.7 5.5 0.5 -3.6
Other operations -6.1 -4.0 -69.7 1.1 -8.5 -3.7
Group total, IFRS 14.8 -17.3 -103.0 62.5 -11.9 -36.9

 

 

OPERATING MARGIN, QUARTERLY, % 4-6/
2014
1-3/
2014
10-12/
2013
7-9/
2013
4-6/
2013
1-3/
2013
Infrastructure construction 4.2 -12.0 -7.6 9.8 -0.6 -26.8
Finland, Building construction 4.4 5.3 -2.3 5.0 -1.7 3.3
Russian operations 1.2 -8.8 -6.6 8.6 1.2 -18.8

 

 

ASSETS, EUR million 6/2014 3/2014 12/2013 9/2013 6/2013 3/2013
Infrastructure construction 606.8 485.8 533.9 617.3 603.6 502.4
Finland, Building construction 496.4 473.7 454.6 515.2 494.5 425.0
Russian operations 184.9 177.5 152.2 142.9 117.3 111.3
Other operations 47.8 45.2 47.8 44.6 50.5 45.7
Technical Building Services, Finland (divested on 13 June 2014)   56.1 61.8 58.5 56.9 56.4
Assets unallocated to segments and Group eliminations, total 127.5 68.3 92.4 253.5 139.0 146.4
Group total, IFRS 1,463.4 1,306.5 1,342.7 1,632.0 1,461.8 1,287.2

 

 

ORDER BOOK, CONTINUING OPERATIONS, EUR million 6/2014 3/2014 12/2013 9/2013 6/2013 3/2013
Infrastructure construction 1,123.0 1,020.1 866.7 835.7 951.9 765.7
Finland, Building construction 653.0 556.6 544.3 661.4 667.8 608.6
Russian operations 310.8 324.5 322.2 383.0 353.8 156.0
Group total 2,086.8 1,901.2 1,733.2 1,880.1 1,973.5 1,530.3
- of which unsold 313.1 323.5 346.5 412.7 460.0 201.7

 

 

PERSONNEL ON AVERAGE, CONTINUING OPERATIONS, persons 6/2014 3/2014 12/2013 9/2013 6/2013 3/2013
Infrastructure construction 4,165 3,040 3,266 4,217 4,216 3,213
Finland, Building construction 1,236 1,152 1,224 1,344 1,571 1,377
Russian operations 812 804 755 767 779 744
Parent company 275 255 281 304 321 303
Group total 6,488 5,251 5,526 6,632 6,887 5,637

 

LEMMINKÄINEN CORPORATION
Corporate Communications


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


DISTRIBUTION:
NASDAQ OMX Helsinki
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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 6,000 professionals. In 2013, our net sales were about EUR 2.0 billion. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com