Lassila & Tikanoja Oyj

Earnings Release • Apr 25, 2019

Lassila & Tikanoja Plc’s comparable data from the 2018 financial year in accordance with the new segment reporting structure

Lassila & Tikanoja Plc’s comparable data from the 2018 financial year in accordance with the new segment reporting structure

Lassila & Tikanoja plc

Stock exchange release

25 April 2019 9.20 am

Lassila & Tikanoja Plc’s comparable data from the 2018 financial year in accordance with the new segment reporting structure

On 26 February 2019, Lassila & Tikanoja Oyj announced to clarify its segment structure from 1 January 2019 onwards. Lassila & Tikanoja’s new structure consists of four reporting segments: Environmental Services, Industrial Services, Facility Services Finland and Facility Services Sweden. With this change, Lassila & Tikanoja aims to improve utilization of the mutual synergies of the business based on material streams as well as the synergies of the business linked to real estates and the country-specific growth opportunities.

Facility Services Finland consists of the previous Facility Services segment merged with the Technical Services business in Finland. For Sweden, the Technical Services business and cleaning business will be merged into new reporting segment. Renewable Energy Sources will be merged with the Environmental Services segment.

The interim report for the first quarter of 2019 will be prepared in accordance with the new reporting structure.

Because of the new segment reporting structure, Lassila & Tikanoja publishes comparable data from the 2018 financial year. Quarterly reported comparable figures from the year 2018 are presented in the tables below according to the new segment structure. Interim reports are unaudited.

SEGMENT INFORMATION
EUR million	1-12/2018	1-9/2018	1-6/2018	1-3/2018
Net sales
Environmental Services	309,4	229,1	154,4	77,0
Industrial Services	96,5	71,3	45,4	19,2
Facility Services Finland	269,6	203,2	137,3	68,6
Facility Services Sweden	134,0	97,4	65,7	33,3
Eliminations	-7,3	-5,2	-3,4	-1,6
Total	802,2	595,7	399,4	196,5
Adjusted operating profit
Environmental Services	32,1	23,7	12,9	4,6
Industrial Services	10,1	7,5	3,7	0,4
Facility Services Finland	5,4	5,4	0,9	-0,5
Facility Services Sweden	6,3	4,2	2,4	1,3
Group administration and other	-3,5	-2,6	-2,1	-1,3
Total	50,5	38,1	17,8	4,5
Operating profit
Environmental Services	31,6	23,3	12,6	4,5
Industrial Services	10,0	7,4	3,7	0,4
Facility Services Finland	5,2	5,2	0,8	-0,6
Facility Services Sweden	4,2	2,6	1,4	0,7
Group administration and other	-3,5	-2,6	-2,1	-1,3
Total	47,6	35,9	16,4	3,7
Adjusted operating margin
Environmental Services	10,4	10,3	8,3	6,0
Industrial Services	10,5	10,5	8,2	2,3
Facility Services Finland	2,0	2,6	0,7	-0,7
Facility Services Sweden	4,7	4,3	3,7	3,9
Total	6,3	6,4	4,5	2,3
Operating margin
Environmental Services	10,2	10,2	8,2	5,8
Industrial Services	10,4	10,4	8,1	2,2
Facility Services Finland	1,9	2,6	0,6	-0,8
Facility Services Sweden	3,1	2,7	2,1	2,2
Total	5,9	6,0	4,1	1,9
Other segment information
EUR million	12/2018	9/2018	6/2018	3/2018
Assets
Environmental Services	237,6	237,3	238,4	241,3
Industrial Services	72,8	76,0	74,8	71,2
Facility Services Finland	94,3	96,0	98,5	99,5
Facility Services Sweden	96,4	92,7	91,8	92,5
Group administration and other	0,6	0,5	0,6	1,4
Unallocated assets	61,8	40,0	45,6	47,0
L&T total	563,5	542,5	549,7	552,9
Liabilities
Environmental Services	67,6	65,4	64,8	65,4
Industrial Services	29,9	28,6	29,7	26,3
Facility Services Finland	48,5	46,8	50,2	49,3
Facility Services Sweden	17,7	16,0	16,8	16,0
Group administration and other	4,7	3,9	4,0	8,2
Unallocated liabilities	182,8	178,1	195,9	207,1
L&T total	351,1	338,8	361,4	372,4
EUR million	1-12/2018	1-9/2018	1-6/2018	1-3/2018
Capital expenditure
Environmental Services	20,7	12,5	9,0	5,3
Industrial Services	8,4	4,6	3,1	1,2
Facility Services Finland	7,6	3,8	2,7	1,6
Facility Services Sweden	1,1	0,7	0,6	0,2
Group administration and other	0,0	0,0	0,0	-0,1
L&T total	37,8	21,6	15,4	8,2
Depreciation
Environmental Services	20,4	15,3	10,3	5,1
Industrial Services	7,5	5,5	3,7	1,8
Facility Services Finland	12,0	9,0	6,0	3,0
Facility Services Sweden	2,6	1,9	1,3	0,7
Group administration and other	0,0	0,0	0,0	0,0
L&T total	42,5	31,8	21,2	10,6

Disaggregation of revenue
	Revenue recognised over time	Revenue recognised at a point in time	Rent	Total net sales
1-12/2018, MEUR	Long-term service agreements	Separately ordered services	Project business	Sales of equipment and materials	Lease income
Environmental Services	209.0			98.5	2.0	309.4
Industrial Services	44.5	41.5	5.4	5.1		96.5
Facility Services Finland	203.7	31.9	34.0			269.6
Facility Services Sweden	58.7	69.2	6.1			134.0
Total	515.9	142.6	45.5	103.6	2.0	809.5
Interdivision						-7.3
External net sales						802.2
	Revenue recognised over time	Revenue recognised at a point in time	Rent	Total net sales
1-9/2018, MEUR	Long-term service agreements	Separately ordered services	Project business	Sales of equipment and materials	Lease income
Environmental Services	153.7			74.1	1.3	229.1
Industrial Services	33.8	30.8	3.2	3.5		71.3
Facility Services Finland	127.9	46.4	28.9			203.2
Facility Services Sweden	43.8	49.9	3.7			97.4
Total	358.5	127.1	35.8	77.6	2.0	601.0
Interdivision						-5.2
External net sales						595.7
	Revenue recognised over time	Revenue recognised at a point in time	Rent	Total net sales
1-6/2018, MEUR	Long-term service agreements	Separately ordered services	Project business	Sales of equipment and materials	Lease income
Environmental Services	100.5			53.0	0.9	154.4
Industrial Services	20.6	20.4	2.2	2.2		45.4
Facility Services Finland	104.4	15.7	17.2			137.3
Facility Services Sweden	29.4	34.2	2.1			65.7
Total	262.8	58.2	24.7	55.2	2.0	402.8
Interdivision						-3.4
External net sales						399.4
	Revenue recognised over time	Revenue recognised at a point in time	Rent	Total net sales
1-3/2018, MEUR	Long-term service agreements	Separately ordered services	Project business	Sales of equipment and materials	Lease income
Environmental Services	47.7			28.9	0.3	77.0
Industrial Services	9.3	8.5	0.3	1.1		19.2
Facility Services Finland	52.9	6.6	9.1			68.6
Facility Services Sweden	14.7	17.5	1.1			33.3
Total	113.7	36.8	15.6	30.0	2.0	198.0
Interdivision						-1.6
External net sales						196.5

LASSILA & TIKANOJA PLC

Eero Hautaniemi

President and CEO

Additional information:

Eero Hautaniemi, President and CEO, tel. +358 10 636 2810

Juha Jaatinen, Acting CFO, tel. +358 50 487 3020

Lassila & Tikanoja is a service company that is putting the circular economy into practice. Together with our customers, we keep materials and properties in productive use for as long as possible and we enhance the use of raw materials and energy. We help our customers maintain the value of their properties and materials while protecting the environment. We achieve this by delivering responsible and sustainable service solutions that make the daily lives of our customers easier. We operate in Finland, Sweden, and Russia. L&T employs 8,600 people. Net sales in 2018 amounted to EUR 802.2 million. L&T is listed on Nasdaq Helsinki.

Distribution:

Nasdaq Helsinki

Major media

www.lt.fi/en