Caverion Corporation provides preliminary information on its first quarter EBITDA. The reported Group EBITDA for January–March 2016 decreased clearly from the previous year and amounted to EUR 11.5 (1-3/2015: 14.2) million. The reported Group EBITDA for January-March was earlier estimated to be in line with the previous year (stock exchange release on March 21, 2016).
“During the period, we have recognised a lower than planned utilisation rate in our Technical Installation and Maintenance units. Based on this we have taken relevant actions and initiated restructuring actions corresponding to a cost of EUR 2.0 million in the first quarter,” says Fredrik Strand, CEO and President of Caverion Corporation.
The figures are based on unaudited preliminary financial results for the period. Caverion will publish its interim report for January–March 2016 on Thursday April 28 at approximately 9:00 a.m. Finnish time (EEST).
The guidance published on January 27, 2016 remains unchanged. Caverion estimates that the Group’s revenue for 2016 will grow from the previous year (2015: EUR 2,443 million) and EBITDA for 2016 will grow significantly from the previous year (2015: EUR 91.5 million).
For additional information, please contact:
Antti Heinola, Chief Financial Officer, Caverion Corporation, tel. +358 40 352 1033,firstname.lastname@example.org
Milena Hæggström, Head of Investor Relations, Caverion Corporation, tel. +358 40 5581 328,email@example.com
Distribution: Nasdaq Helsinki, principal media, www.caverion.com