Operating environment

Interim Report for January 1 – September 30, 2018 (published October 25, 2018)

Operating environment during the third quarter and the first nine months of 2018

The overall market situation was relatively positive and stable throughout the period. Demand developed favourably in the Finnish, Norwegian and German markets. In Sweden, the activity levels in projects showed some signs of gradual slowing down. In the Industrial Solutions division, the market was stable in industrial maintenance. The markets for Denmark, Eastern Europe and Austria also remained stable.


The demand for Services continued being strong. There is a trend towards a deeper collaboration between customers and service providers in order to gain business benefits instead of mere cost savings. International customers are looking for unified operating models across countries, especially in the Nordic region. There is an increasing interest for services supporting sustainability, such as energy management.


The market for Projects remained positive. In the residential construction market segment, there were indications of the market slowing down. In the non-residential construction segment, which is more relevant for Caverion, the market remained stable. Customer demand for total technical deliveries and public–private partnership models (PPP) has been increasing, mainly driven by risk management. The requirements for increased energy efficiency, better indoor climate and tightening environmental legislation are increasing the costs of building systems investments. There have been some shortages in project manager and installer resources in growth centers.