Press releases

DESTIA GROUP’S INTERIM REPORT FOR JANUARY–SEPTEMBER 2012: Revenue and operating result increased, cash flow remains strong

30.10.2012 11:20:00

  • Revenue increased by 6.9% on the previous year to MEUR 372.7.
  • Operating profit was clearly better than the previous year at MEUR 14.4 (3.6).
  • Cash flow remained strong despite the premature amortisation of a MEUR 30 loan.
  • The comparable order book decreased by 9.9% to MEUR 646.4 (717.1).
  • Destia forecasts that the revenue for the full year will remain at the same level as the previous year and that the operating result will be clearly positive.

 

President & CEO Hannu Leinonen comments on the report period:

“The civil engineering market has been better than last year from a point of view of Destia’s range of services, but the market prospects have deteriorated and become more restricted since the summer. This has been reflected in a decrease in the order book. Cost development in the infrastructure sector has also been volatile and the increase in costs is stabilising.

The operating profit for the report period was MEUR 10.8 greater than the previous year at MEUR 14.4. The improved operating profit is a consequence of the improvement in the profitability of projects and the increase in volumes. In the first quarter, the profitability of maintenance contracts was encumbered by the exceptional temperature variations during the winter and by the large amount of snow. In the second quarter, profitability was still encumbered by a deterioration in the margin level of railway maintenance contracts. More than 70% of consolidated operating result was generated in the third quarter, when volumes are at their highest.

The core of Destia’s strategy continues to be the improvement of business profitability and the strengthening of our position in core operations. In 2012, we have focused on developing expertise and improving the efficiency of production operations.

The company’s cash flow remains strong. It is estimated that Destia Group's revenue for the whole of 2012 will remain at the same level as 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

INTERIM REPORT OF THE DESTIA GROUP JAN-SEP 2012 (pdf)

Destia Group’s financial statements for 2012 shall be published on 15 February 2013.


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