Helsinki, Finland, 2016-04-27 16:40 CEST (GLOBE NEWSWIRE) --
CAVERION CORPORATION STOCK EXCHANGE RELEASE APRIL 27, 2016 AT 5.40 PM EEST
Caverion lowers its revenue and EBITDA guidance for 2016
Caverion Corporation lowers its revenue and EBITDA guidance for 2016 announced on January 27, 2016 and reiterated on April 22, 2016.
Caverion now estimates that the Group’s revenue for 2016 will remain at the previous year's level (2015: EUR 2,443 million) and the Group’s EBITDA for 2016 will grow from the previous year (2015: EUR 91.5 million).
Caverion foresees that the divisions Sweden and Denmark-Norway cannot recover their lower performance in the first quarter in Technical Installation and Maintenance during the rest of the year. Low utilisation rate and restructuring measures within the Group in relation to this are expected to affect the reported EBITDA in 2016. Managed Services and Large Projects are expected to develop according to plan.
New guidance for 2016:
Caverion estimates that the Group’s revenue for 2016 will remain at the previous year's level (2015: EUR 2,443 million) and the Group’s EBITDA for 2016 will grow from the previous year (2015: EUR 91.5 million).
Previous guidance announced on January 27, 2016 and reiterated on April 22, 2016:
Caverion estimates that the Group’s revenue for 2016 will grow from the previous year (2015: EUR 2,443 million) and the Group’s EBITDA for 2016 will grow significantly from the previous year (2015: EUR 91.5 million).
Caverion will publish its interim report for January–March 2016 on Thursday April 28 at approximately 9:00 a.m. Finnish time (EEST). A briefing for the media, analysts and investors will be arranged in conjunction with the interim report.
For additional information, please contact:
Antti Heinola, Chief Financial Officer, Caverion Corporation, tel. +358 40 352 1033, antti.heinola@caverion.fi
Milena Hæggström, Head of Investor Relations, Caverion Corporation, tel. +358 40 5581 328, milena.haeggstrom@caverion.fi
CAVERION CORPORATION
Distribution: Nasdaq Helsinki, principal media, www.caverion.com
Caverion designs, builds, operates and maintains user-friendly and energy-efficient technical solutions for buildings, industries and infrastructure. Our services and solutions are used in commercial and residential buildings and on industrial and public sector properties, as well as in processes, ensuring business continuity, safety, healthy and pleasant surroundings, optimal performance and cost management. Our vision is to be a leading European provider of advanced and sustainable life cycle solutions for buildings and industries. Our strengths include technological expertise and comprehensive services, covering all technical disciplines throughout the entire life cycles of properties and industrial plants. Our revenue in 2015 was approximately EUR 2.4 billion. Caverion has over 17,000 employees in 12 countries in Northern, Central and Eastern Europe. Caverion’s shares are listed on Nasdaq Helsinki.www.caverion.com
@CaverionGroup
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