Destia Group and Destia subgroup's financial statements bulletin for 2014
Destia Group Oyj began operations on 1 July 2014, Destia subgroup's profit good despite decrease in revenue
- Destia subgroup’s revenue was MEUR 431.5 (489.7).
- Destia subgroup’s operating profit was MEUR 15.1 (18.9).
- The order book at the end of the year was strong and at a higher level than the previous year, standing at MEUR 628.2.
- Destia subgroup’s return on investment was 20.9 per cent and equity ratio 34.3 per cent.
- Occupational safety improved to a new record: the number of accidents resulting in absence from work, or accident frequency, dropped to 9.3 (10.8).
- Destia Group’s return on investment was 9.2 per cent and equity ratio 29.4 per cent.
- The commercial agreement between Ahlström Capital and the State of Finland regarding the purchase of the entire shareholding of Destia was implemented on 1 July 2014.
- Destia Group Oyj issued a MEUR 65 five-year bond.
- Destia’s revenue for 2015 is estimated to grow, but operating profit is estimated to fall short of the previous year.
Destia’s President and CEO Hannu Leinonen comments on the financial year:
“Our 2014 operating result is good despite a decline in revenue and the challenging market situation. The poor success last year and early this year in tendering for large projects caused a revenue challenge to which we were unable to respond. Competition for contracts remained tight throughout the year, but our order book developed favourably, however. Our order book is bigger than the previous year and is spread over more years than previously.
We have invested in the development of our personnel to reach Destia’s strategic objectives. Our strong investment in competence and customer work together with the development of occupational safety have borne fruit. I am especially pleased with the significant improvement of our occupational safety. Our accident frequency is at a record-low level.
In the financial year, Destia’s entire share capital was transferred to private ownership as a result of a corporate acquisition. By strengthening our business operations in the last few years, we have created a solid foundation on which we build profitable growth under private ownership.
The measures we have taken to improve our order book, customer work and project management offer good prerequisites for the positive development of revenue. We estimate that our revenue for 2015 will increase slightly but that operating profit will fall short of the previous year.”
President & CEO Hannu Leinonen, tel. +358 20 444 4000, hannu.leinonen(a)destia.fi and CFO Pirkko Salminen, tel. +358 50 302 2485, pirkko.salminen(a)destia.fi