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