Press releases

DESTIA GROUP’S INTERIM REPORT 1 January–31 March 2013: REVENUE DECREASED, ORDER BOOK INCREASES AND CASH POSITION REMAINED STRONG

30.04.2013 09:00:00

  • Revenue decreased by 20 per cent and was MEUR 78.1
  • Operating result fell compared to the reference period and was MEUR -2.2.
  • Cash position remained strong.
  • Order book increased by 19 per cent compared to the end of 2012 and stood at MEUR 713.5.
  • Number of accidents resulting in absence from work record-low.
  • Continuous human resource development on focus.
  • Destia Group’s 2013 revenue and operating profit are expected to settle at the level of the previous year.
Group’s key figures (IFRS), MEUR 1-3/2013 1-3/2012 1-12/2012
 
Revenue, continuing operations 78.1 98.1 507.3
Operating result, continuing operations -22.2 0.2 14.0
% of revenue -2.9 0.2 2.8
Result for the period, continuing operations -1.9 -0.1 11.1
% of revenue -2.5 -0.1 2.2
Result for the period -0.3 -0.9 10.8
Equity ratio, % 39.1 28.7 35.2
Net gearing, % -25.2 -3.9 -40.5
Average personnel  1 462 1 580 1 591
Order book at the end of period 713.5 731.4 600.8

President & CEO Hannu Leinonen comments on the report period:

”Despite continuing economic uncertainty, we expect demand in the infrastructure sector to remain moderate.  There will, however, be fewer new major contracts to be won, and some major projects started in previous years will be completed, so competition for contracts will be fierce.

Three tender rounds for regional main road maintenance contracts were completed during March and April. Destia succeeded well and was able to strengthen its market position. In railway construction, we strengthened our position by winning our first major railway construction contract, the double track of the Riippa−Eskola track section (RU2).

In the challenging market environment, Destia has paid special attention to client management and was able to significantly strengthen the order book in the first quarter of the year, compared to the situation at the end of 2012. Due to the annual cycle in our industry, most of the work load for the current year is being decided during the current quarter. Our strong investment in developing the expertise of our personnel and measures taken to improve profitability provide a good foundation for a positive development of our business this year, despite the dull start to the year.

Based on the good accumulation of orders in the early part of the year and large number of projects on offer, we still estimate Destia Group’s 2013 revenue and operating result to settle at the level of the previous year.” 

More information
President & CEO Hannu Leinonen, tel. +358 (0)20 444 4000 and CFO Pirkko Salminen, tel. +358 (0)50 3022 485

Financial reporting 2013
Destia will publish its interim financial report for January−June on 29 August 2013 and for January−September on 29 October 2013.
The Financials pages are updated when financial information is disclosed annualreport.destia.fi

INTERIM REPORT OF THE DESTIA GROUP JAN-MAR 2013 (pdf)

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