DESTIA GROUP’S INTERIM REPORT FOR JANUARY–MARCH 2012: Positive operating result and good cash flow
- Revenue increased 11.6 per cent on the previous year to MEUR 98.1.
- The operating result was better than the previous year at MEUR 0.2 (-5.5).
- The unprofitable Norwegian operations were discontinued.
- The strongly positive development of the Group’s cash flow continued.
- The order book was MEUR 731.4.
- Destia forecasts that the revenue for the full year will increase slightly and that the operating result will be clearly positive.Key
Key figures (IFRS)
|Jan–Mar /2012||Jan–Mar /2011||Jan–Dec 2011|
|Revenue, continuing operations||98.1||87.9||492.5|
|Operating result, continuing operations||0.2||-5.5||8.4|
|% of revenue||0.2||-6.3||1.7|
|Result for the period, continuing operations||-0.1||-6.1||3.5|
|% of revenue||-0.1||-6.9||0.7|
|Result for the period||-0.9||-7.0||-13.0|
|Average personnel||1 580||1 845||1 813|
President & CEO Hannu Leinonen comments on the report period:
“The company forecasts that the civil engineering market will be better than last year from a point of view of Destia’s range of services. Last year’s rise in costs is now levelling out, with the exception of the costs of oil-based commodities.
Destia´s operating result was MEUR 0.2 (-5.5) excluding discontinued operations. Traditionally, the first quarter is weak due to the low volumes of the winter period. Because of some major projects, revenue increased, as a result of which the operating result became positive. The fluctuating temperatures during the winter and the large volume of snow, however, gave rise to extra costs in maintenance and projects.
The key focus area of the strategy continues to be the improvement of business profitability and consolidation of the company’s position in core business areas. Destia will continue to focus on risk management in its bidding activity and on work with customers, as well as continuing the improvement in the efficiency of support processes.
Destia’s existing strong order book and the measures for improving profitability will exert a positive impact on the prospects for 2012. Based on the continued positive development of cash flow, there are additional signs that the profitability of core business projects has improved on average. It is forecast that Destia Group’s 2012 revenue will increase slightly over the previous year and that the operating result will be clearly positive.”
Further information is provided by: President & CEO Hannu Leinonen, tel. +358 20 444 4000 and Head of Economics and Financing Pirkko Salminen, tel. +358 50 3022 485
Destia Group’s Interim Report for the first quarter of 2012 will be published on 29 April 2012.