Interim Report for January-September 2013: POSITIVE DEVELOPMENT IN THE THIRD QUARTER
- Revenue decreased by 7.1 per cent and was MEUR 346.4.
- Operating result fell short of the reference period and was MEUR 13.4, relative profitability remanied at the level of the previous year.
- Third quarter revenue remained at the level of the previous year, and operating profit was better than the previous year.
- The order book strengthened and was MEUR 672.5.
- The company is free of net debt, and long-term loans were prematurely amortised to the value of MEUR 20.
- Equity ratio was 43.2 per cent.
- Number of accidents resulting in absence from work remained at a record low.
- Destia Group expects that its 2013 revenue will fall short of that of the previous year and that operating profit will remain at the level of the previous year.
Group’s key figures
|Revenue, continuing operations||156.0||156.2||346.4||372.7||507.3|
|Operating result, continuing operations||13.2||10.3||13.4||14.4||14.0|
|% of revenue||8.5||6.6||3.9||3.9||2.8|
|Result for the period, continuing operations||9.9||10.9||9.2||12.9||11.1|
|% of revenue||6.3||7.0||2.7||3.5||2.2|
|Result for the period||10.4||11.3||11.4||13.2||10.8|
|Equity ratio, %||43.2||36.6||35.2|
|Net gearing, %||-22.2||-1.6||-40.5|
|Average personnel||1 526||1 613||1 591|
|Occupational accidents resulting in
absence from work *)
|Order book at the end of period||672.5||646.4||600.8|
*) Occupational accidents of Destia's own
President & CEO Hannu Leinonen comments on the reporting period:
"Uncertainty in the economy continued during the reporting period, which had a negative effect on the economic operating environment in infrastructure construction and on the availability of financing for projects. Public-sector infrastructure investment has remained steady, but the amount of private-sector infrastructure investments has decreased. During the reporting period, new road projects started up and public-sector plans also contain some major future projects. The infrastructure design and aggregate markets have slowed down.
During the reporting period, in the intensified competitive situation, our revenue developed more slowly than the previous year, as a result of which our operating profit fell short of last year’s figure. The third-quarter business result was better than the previous year. Our investment in personnel training is evident in better project management, customer service and profitability.
Our order book is strong and most of it extends into 2014 and 2015. The strong order book together with measures we have taken to improve project management provide a solid foundation for the improvement of profitability and good cash flow also in the future. The financial objectives that we set for our strategic period of 2010−2013 have been achieved in terms of return on investment and equity ratio. Our operating profit objective is 4 per cent, return on investment objective 15 per cent and equity ratio 35 per cent. The objective of growing in our core business areas more quickly than the market growth will not be achieved.
We expect that Destia Group’s 2013 revenue will fall short of that of the previous year and that operating profit will remain at the level of the previous year.”
President & CEO Hannu Leinonen, tel. +358 20 444 4000 and CFO Pirkko Salminen, tel. +358 50 3022 485
Financial reporting 2013
Destia will publish its Financial Statements 2013 on 13 February 2014.