Lemminkäinen and YIT will complete the merger
Back
- Stock Exchange Releases
- 7/30/2014
Comparison figures for 2013, according to Lemminkäinen's new segment division
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 c
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
Key media
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