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