Caverion as an investment

Caverion designs, builds, operates and maintains user-friendly and energy-efficient solutions for buildings, infrastructure and industrial plants.

Our services are used in offices, retail properties, housing, public premises, industrial plants and infrastructure, among other places. Our strengths include technological competence and comprehensive services, covering all technical disciplines throughout the life cycle of the property and industrial plant.

In 2015, the company's revenue was approximately EUR 2.4 billion. Caverion has about 17,000 employees in 12 countries in Northern, Central and Eastern Europe.


Our vision is to be a leading European provider of advanced and sustainable life cycle solutions for buildings and industries.

Strategic focus areas

In order to reach our vision we need a strong company image, innovative and advanced solutions, excellent leadership and operational excellence. If these four targets are fulfilled in a proper way, they will enable growth and profitability. Together, these form our six strategic focus areas.


Service areas


Key strengths

  • Life cycle solutions
  • Geographically extensive operations in 12 countries and strong market position in all key operating countries
  • Strong technical competence and own innovative solutions
  • Energy efficiency always integrated into services and solutions
  • Prerequisites for a strong, stable cash flow
  • Competence and proven experience in growing through acquisitions

Business model: Asset-light, cash flow business

Caverion’s business is mainly labour-intensive business that requires little investments, apart from possible acquisitions. Our investments are mostly made in R&D and increased efficiency in IT.

Our operating cash flow is seasonal with Q4 typically being the strongest quarter. We are actively focusing reducing the seasonality of our business. Our strategic target is to reach negative working capital by the end of 2016.

Long-term financial targets 

After taking the actions according to our strategy period ending in 2016, our goal is to reach long-term financial targets. Our long-term financial targets are: 


  • EBITDA over 6% of revenue

Revenue growth

  • Average annual revenue growth >10%

Working capital

  • Negative


Outlook for 2016

Market outlook for Caverion’s services and solutions 

Interim Report January 1 - September 30, 2016 (published 27 October, 2016):

The megatrends in the industry, such as the increase of technology in buildings, energy efficiency requirements, increasing digitalisation and automation as well as urbanisation continue to promote demand for Caverion’s services and solutions over the coming years.

The Technical Installation and Maintenance market is expected to remain stable, however price competition is expected to remain tight in Technical Installations projects. Requirements for increased energy efficiency, better indoor conditions and tightening environmental legislation will be significant factors supporting the positive market development. In Norway, the general economy has been impacted by the slowdown in the oil industry and despite the recent stabilisation, this may continue to have a negative effect on the Technical Installation and Maintenance business.

In the Large Projects market, the new tenders for buildings and industry are expected to increase during the year. Low interest rates and availability of financing are expected to support investments. The demand for Design & Build of Total Technical Solutions is expected to develop favourably in the large and technically demanding projects. However uncertainty in economical situation has affected new projects resulting in price pressure and further project postponements or cancellations.

Underlying demand for Managed Services is expected to remain strong. As technology in buildings is increasing the need for new services and the demand for Life Cycle Solutions are expected to increase. Clients’ tendency towards focusing on their core operations continues to open opportunities for Caverion in terms of outsourced operation and maintenance especially for public authorities, industries and utilities.

Guidance for 2016

January 16, 2017: New guidance for 2016:

Preliminary Group revenue for 2016 amounted to approximately EUR 2,366 million (2015: EUR 2,443 million). Preliminary Group EBITDA excluding restructuring costs for 2016 amounted to approximately EUR 17 million (2015: EUR 91.5 million). The figures are unaudited.