Presentation - Caverion Group

Road Show, Stockholm
May 27, 2014
Fredrik Strand, President and CEO
Antti Heinola, CFO
Milena Hæggström, Head of Investor Relations
Contents
°
Business and strategy
°
Market overview
°
Financials and guidance
°
Appendix
Business and strategy
Caverion - a European
company
Finland
Sweden
Our roots
Estonia
Norway
Denmark
Germany
Latvia
Russia
Lithuania
Austria
Poland
The Czech Republic
Romania
Caverion Corporation (2013)
YIT
(1912)
Huber Oy
(1879)
Calor AB
(1898)
ABB
building systems
(1988)
MCE AG
caverion GmbH
building systems
(2007)
(1989)
M+W Zander (1998) | Meissner + Wurst (1912) | Krantz (1882) | Zander (1950) | Stangl KG (1929)
MAB Anlagenbau Austria GmbH | Rohr- und Heizungsbau GmbH (1955) | Voest-Alpine MCE Austria | Allmänna Ingeniörsbyrån (1901) | Carl Christensen & Co.
Brdr. Petersens Eftf. A/S | Gerdes & Wesenberg | Monies & Andersens Eftf | E. Rasmussen/ER Electric A/S (1907) | EB Installasjon (1988)
Asea Brown Boveri (1987) | Asea Per Kure AS (1897) | A/S Norsk Elektrisk & Brown Boveri (1908)
Elektro Union National Industri (1917) | Elektrisk Bureau AS (1882) | Frognerkilens Fabrikk Norsk Elektrisk Aktielag (1873)
Caverion
4
AS Norsk Viftefabrikk (1932) | Elmek (1990) | Emico AS (1992) | Tehsistem SIA (2001)
Road Show Presentation May 2014
Caverion in brief
Caverion designs,
builds, operates and
maintains
user-friendly and
energy-efficient
solutions for buildings,
infrastructure and
industrial plants.
Revenue by country
Sweden 26%
Key figures in 2013
Revenue
Finland 21%
2,544
Norway 20%
EUR million
Germany 18%
Austria 6%
EBITDA
Denmark 5%
70.9
Other countries 3%
EUR million
(2.8% of revenue)
Personnel
by country
EBIT
Finland 27%
61
Sweden 22%
EUR million
Norway 20%
EBIT
49.4
EUR million
(1.9% of revenue)
Germany 14%
2.2%
of revenue
Austria 4%
Personnel
Denmark 6%
17 673
Other countries 7%
Revenue based on the Group company location
Caverion
5
Road Show Presentation May 2014
at year’s end
2013 figures: 1-6/2013 carve-out + 7-12/2013 actual.
Strategy 2016
We are
a leading European
provider of advanced and sustainable
life cycle solutions for buildings and industries.
Vision
We design, build, operate and maintain user-friendly and energy-efficient
solutions for buildings, infrastructure and industrial plants.
Mission
Financial
targets
Strategic
focus
areas
Profitability
(EBITDA) over 6% of
revenue
Average annual
revenue growth > 10%
Negative
working capital
Increasing
profits
Strong
growth
Innovative
and advanced
solutions
Strong
company
image
Excellent
leadership
Operational
excellence
Step ahead + Cooperation + Responsibility + High performance
Values
Caverion
6
Road Show Presentation May 2014
Strategic milestones
Targeting improved profitability
Key target
EBITDA
over 6% of revenue
by the end of 2016
04 Reach
Operational excellence
– Most efficient
service company
03 Create
02 Build
01 Fix
Increasing
profits
– Demerger and
restructuring
Caverion
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Road Show Presentation May 2014
Operational excellence
– Developing internal
processes and
harmonization
Excellent leadership
– Lean organization
and winning team
Innovative and
advanced solutions
– Developing
business mix
Innovative and
advanced solutions
– Strong own concepts
and capabilities in
both projects and
services
Strong growth
– Back on track
Strong company
image
Caverion’s market offering
Advisory
Services
Design &
Engineering
Services
Project
Management
Project
Execution
Technical
Maintenance
Public
Industry
Real estate
owners and
developers
Value proposition
for each client
segment
Commercial
view for
each
service
area
Real estate
users
General
contractors
Delivery
view for
projects
and services
Caverion
Disciplines
Managed
Operations
Managed
Life Cycle
Caverion’s service areas
Project
Execution
Managed Life
Cycle
°
Managed
Operations
Design &
Engineering
Services
Project
Management
°
°
Advisory Services
Caverion
Technical
Maintenance
Our vision: To be a leading European provider of advanced and
sustainable life cycle solutions for buildings and industries
°
We understand the
complexity of buildings
and processes.
°
We have technical and
management skills in all
disciplines throughout
the life cycle.
°
The life cycle view is
included in everything
we do.
°
We manage the life cycle
- from individual
technology to advanced
total solutions - and
decrease the costs
related to the property.
Life cycle model decreases
the costs related to the property
in the long run
Energy
Caverion
10
Road Show Presentation May 2014
Maintenance
Investment
Conventional
model
Life cycle
model
M&A as a growth driver
50% of revenue growth over cycle from acquisitions
M&A criteria
o
Good strategic fit
•
o
o
o
Geographical
coverage
o
Internal valuation always
prepared
o
Key multiples analysed:
•
Business portfolio
o
EV/Sales
•
Customer sectors
o
EV/EBITDA
o
EV/EBIT
o
P/E
o
Payback time
Complementary skills &
resources
Business culture
Value creation potential
o
Profitability turn-around
o
Strong local market
position
Caverion
Valuation criteria
11
Road Show Presentation May 2014
o
Multiple levels vary
depending on the target
as well as market
situation
Market overview
Caverion has strong growth potential in fragmented
European markets
Caverion’s position
in the European
building systems market
Company revenues
EUR million
TextText
Cofely*
7,714
Bilfinger SE**
6,309
Royal Imtech
TextText
1
1
4,945
3
SPIE
4,563
Caverion
2,544
MITIE
2,393
Bravida
1,221
960
Alpiq Intec
829
Company revenues for 2013. *) Cofely and Strabag: 2012 figures.
**) Bilfinger SE includes Industrial and Building & Facility segments.
Source: Company information, Caverion.
13
3
5
Strabag Property and
Facility Services*
Caverion
Text
Text
Road Show Presentation May 2014
3
Market outlook for Caverion’s business in 2014
Service and
maintenance
Project
deliveries
Caverion view
Service and maintenance
Sweden
o
Growth opportunities
favorable in all of Caverion’s
divisions.
o
The demand for life cycle
solutions is expected to
increase.
Finland
Norway
Germany
Project deliveries
Austria
o
Denmark
New investments in building
systems expected to
increase slightly.
o
Russia
Source: Euroconstruct, December 2013
Caverion
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Road Show Presentation May 2014
Positive signs can be
seen.
Financials and guidance
Group revenue
Targeting average annual growth in revenue of > 10% by the end of 2016
Group revenue
°
Revenue decreased by 3%
compared to January March
2013.
°
At the previous year’s exchange
rates for the corresponding
period, revenue increased by
1%.
EUR million
12/13: 2,544
1–12/12: EUR 2,803
1-6/12: X,XXX
718
665
673
748
608
688
653
595
591
°
1-3/12
4-6/12
7-9/12 10-12/12 1-3/13
4-6/13
7-9/13 10-12/13 1-3/14
Main effect in Norway
EUR -16 million.
Revenue by business area
Revenue breakdown by country
EUR million
165
145
126 125
134 129
101
Service and
maintenance
55%
113
36 31
Sweden
Finland
Norway
Germany
3/13
Caverion
16
Road Show Presentation May 2014
Austria
3/14
31 32
Denmark
15 16
Other
countries
Projects
45%
EBITDA
Targeting EBITDA margin of over 6% by the end of 2016
EBITDA
25.6
12/13: 70.9 (2.8%)
26.3
17
Non-recurring payment of
EUR million 3.5 related to the final
settlement of an old joint venture
in Denmark
°
Sweden: profitability improved
according to plan.
°
Norway: project operations diluted
profitability in January March, but
profitability is expected to improve
in 2014.
23.3
12.9
Caverion
°
25.3
23.6
1-3/12
Excluding non-recurring items,
EBITDA increased by 7% and was
EUR 13.1 million in
January March.
EBITDA, EUR million
EBITDA margin, %
12/12: 85.3 (3.0%)
3.5%
°
3.6%
4-6/12
4.0%
9.8
9.4
1.3%
1.5%
7-9/12 10-12/12 1-3/13
Road Show Presentation May 2014
3.9%
2.0%
4-6/13
3.7%
9.6
1.6%
7-9/13 10-12/13 1-3/14
Asset-light, cash flow business
Targeting negative working capital by the end of 2016
Working capital
EUR million
120
In working capital
management the focus is
on invoicing and trade
receivables and liabilities.
Working capital
64
Working capital to
sales, % (LTM)
46
5%
2%
9/2013
3%
12/2013
3/2014
Operating cash flow after investments
Rolling 12 months
79.3
40.5
16.2
5.3
-2.2
Caverion
18
Actions to reduce seasonality
of cash flow
59.5
33.2
5.1
4 6/12
°
74.2
47.1
3/12
Cash flow in 1 3/2014 was burdened
by IT prepayments and investments
of EUR 5.8 million and non-recurring
payment of EUR 3.5 million related to
fhe final settlement of an old joint
venture in Denmark.
106.4
EUR million
-18.4
°
-25.5
o
-16.9
-35.3
7 9/12 10 12/12 1 3/13 4 6/13 7 9/13
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No significant capex requirement
°
10 12/13
1 3/14
Continuous development and
investment in technologies,
processes and competences
Order backlog as an indicator of future revenue
Order backlog
°
Order backlog excludes service
ad-hoc orders/one timers
°
Order backlog increased by
8% from the end of December
2013 and by 2% from
the end of March 2013.
°
Changes in foreign exchange
rates decreased the order
backlog in January March 2014
by EUR 33 million compared to
January March 2013.
EUR million
1,470
1,429
1,340
1,315
1,199
3/12
Caverion
6/12
19
9/12 12/12 3/13
Road Show Presentation May 2014
1,274 1,296 1,241 1,335
6/13
9/13 12/13 3/14
Financing position enables the implementation
of the Group’s strategy
Sarake1
Net debt
at the end of March 2014
Development of net debt
EUR million
EUR million
300
194
200
Net debt
EUR 104 million
100
74
Sarak
e1
6/13
9/13
12/13
0
190
86
104
116
146
6/13
9/13
12/13
3/14
104
Long-term Short-term Cash and
borrowings borrowings
cash
equivalents
Net debt
Liquidity reserve EUR 195 million
at the end of March 2014
EUR million
79
116
Caverion
20
Road Show Presentation May 2014
Unused credit
facilities
Cash and
cash
equivalents
Guidance for 2014 and dividend policy reiterated
Revenue guidance
EBITDA guidance
Dividend policy:
Caverion estimates that
the Group’s revenue for
2014 with comparable
exchange rates will remain
at the previous year's level.
Caverion estimates that
EBITDA for 2014 excluding
non-recurring items will
grow clearly to EUR
90 110 million.
Dividend payout
at least 50 per cent
of the net profit
for the period.
In 2014 the EBITDA increase
will be executed by
o
o
o
Improving the operational
efficiency
Growing the service and
maintenance business
o
o
o
Increasing the project
business in Germany
The potential changes in general macroeconomic environment may have an effect on Caverion’s business and customers.
Caverion
21
Road Show Presentation May 2014
Dividend of EUR 0.22/share
paid on April 2.
EUR 27.6 million in total
(78% of the net profit in 2013)
Effective dividend yield
of 2.5%
Appendix
Key figures
EUR million
3/14
3/13
Change
12/13
591.3
607.9
-3%
2,543.6
13.1
12.2
7%
81.7
EBITDA margin excluding non-recurring items, %
2.2
2.0
EBITDA
9.6
9.4
EBITDA margin, %
1.6
1.5
Earnings per share, basic, EUR
0.01
0.02
-34%
0.28
Working capital
64.5
87.2
-26%
46.0
-16.9
-2.2
1.9
2.8
Revenue
EBITDA excluding non-recurring items
Operating cash flow after investments
Net profit for the period
Interest-bearing net debt, end of period
Personnel, average for the period
23
Road Show Presentation May 2014
2%
17,375
70.9
2.8
74.2
-34%
104.1
35.5
86.5
18,381
Comparative figures for 2013 are carve-out figures for the periods before the effective date of the partial demerger (June 30, 2013).
Caverion
3.2
-5%
18,071
Acquisitions have contributed to revenue growth
through the cycle
Group revenue
EURRevenue,
million EUR million
2,876
2,396
2,140
1,680
1,797
1,892
2004
2005
2006
2,803
2,544
2,353
2,125
1,021
678
2002
2003
2008
MCE AG
Calor AB ABB Building Systems
Acquisition
period
2007
Integration and
development
2009
2010
2011
2012
caverion GmbH
Acquisition
period
Integration and
development
2002-2009 figures based on official segment reporting, i.e. sum of building systems and industrial services related revenue figures of YIT, including also internal sales.
2010-2012 figures are external revenue figures based on Caverion’s carve-out segment reporting.
2013 figures: 1-6/2013 carve-out + 7-12/2013 actual.
Caverion
24
Road Show Presentation May 2014
2013
EBITDA development
EBITDA
(excl. EBITDA from other operations)
173
177
135
116
8.1%
132
123
7.4%
106
5.9%
6.4%
6.2%
71
EBITDA,
EUR million
93
5.2%
76
4.6%
4.2%
3.3%
2004
2005
2006
2007
2008
2009
2010
2011
2012
3.0%
EBITDA
margin, %
2013
Note: Building Systems segment figures in YIT reporting; 2010-2012 official carve-out figures. 2013 figures: 1-6/2013 carve-out + 7-12/2013 actual. 2010-2013 EBITDA figures exclude
EBITDA from other operations of EUR -6.1m, -7.1m, -7.4m and -5.0m respectively. EBITDA-% includes YIT Group internal sales for 2004-2009.
Caverion
25
Road Show Presentation May 2014
Shareholders on April 30, 2014
Largest shareholders
% of all
shares
Change after
Mar. 31,
pcs
17,140,000
13.65
0
0.00
2. Herlin Antti
3. Varma Mutual Pension Insurance Company
4. OP funds
5. Ilmarinen Mutual Pension Insurance Company
6. Fondita funds
7. Nordea funds
8. Aktia funds
9. Odin funds
9,220,180
4,845,561
4,607,592
4,056,215
4,018,000
3,460,000
1,738,012
1,736,637
7.34
3.86
3.67
3.23
3.20
2.75
1.38
1.38
827,777
-2,085,289
-155,946
0
50,000
-246,269
-5,065
0
9.86
-30.09
-3.27
0.00
1.26
-6.64
-0.29
0.00
10. The State Pension Fund
1,470,000
1.17
0
0.00
11. Danske Invest funds
12. Elo Pension Company
13. Brotherus Ilkka
14. Evli funds
15. Etera Mutual Pension Insurance Company
16. Säästöpankki funds
17. Föreningen Konstsamfundet rf
1,397,685
1,344,468
1,304,740
992,500
757,446
506,052
423,002
1.11
1.07
1.04
0.79
0.60
0.40
0.34
-124,610
0
0
0
0
0
0
-8.19
0.00
0.00
0.00
0.00
0.00
0.00
18. Foundation of Brita Maria Renlunds minne
19. SEB Gyllenberg funds
20. Sigrid Jusélius Foundation
412,000
405,450
361,000
0.33
0.32
0.29
0
195,450
0
0.00
93.07
0.00
60,196,540
47.93
All shares 125,596,092
1.00
Shares,
Major shareholders on June 28,2013
pcs
1. Structor S.A.
20 largest, total
Caverion
26
Road Show Presentation May 2014
Change,
%
Owners by category by
shares owned
Nominee registered and non-Finnish
holders 36% (Mar 31, 2014: 35%)
Households
20% (20%)
General government
11% (12%)
Financial and insurance corporations
14% (15%)
Non-profit institutions
6% (6%)
Non-financial corporations and housing
corporations
13% (12%)
A total of
33,067
shareholders
(31.3.2014:
32,590)
Caverion’s Board of Directors
Re-elected by the AGM on March 17, 2014
Henrik Ehrnrooth (b. 1954) M.Sc. (Forest economics),
B.Sc. (Econ.)
Chairman of the Board
Anna Hyvönen (b. 1968) Lic. Tech.
Share ownership: 17,140,000*
Independent of company: Yes
Independent of owners: No
Executive Vice President, Finland & Baltics, Ramirent Plc
Share ownership: 0
Independent of company: Yes
Independent of owners: Yes
Ari Lehtoranta (b. 1963) M.Sc. (Eng.)
Vice Chairman of the Board
Eva Lindqvist (b. 1958) M.Sc. (Eng.), MBA
Executive Vice President, Central and North Europe,
Customer Experience at KONE Corporation.
Share ownership: 0
Independent of company: Yes
Independent of owners: Yes
Professional board member
Share ownership: 1,500
Independent of company: Yes
Independent of owners: Yes
Michael Rosenlew (b. 1959) M.Sc. (Econ.)
Managing Director of Mikaros AB
Share ownership: 0
Independent of company: Yes
Independent of owners: Yes
*) Henrik Ehrnrooth holds indirectly with his brothers Georg Ehrnrooth and Carl-Gustaf Ehrnrooth a
controlling interest in Structor S.A., the largest shareholder of Caverion Corporation.
Caverion
27
Road Show Presentation May 2014
Caverion Group Management
Group key executives
Fredrik Strand
Antti Heinola
Merja Eskola
President and CEO
CFO
Human Resources
Sakari Toikkanen
Päivi Alakuijala
Juhani Pitkäkoski
Group Development
Marketing & Communications
Mergers & Acquisitions
Business area executives
Caverion
28
Division executives
Karl-Walter Schuster
Jarno Hacklin
Erkki Huusko
Project excellence
Germany and CEE (acting)
Finland, Russia, Baltic Countries
Industrial Services
Matti Malmberg
Ulf Kareliusson
Knut Gaaserud
Service efficiency
Sweden
Norway
Peter Rafn
Manfred Simmet
Denmark
Austria
Road Show Presentation May 2014
Megatrends support the demand for our services
Increasing amount
of technology in
buildings
Increasing demand for
special technical
competence as well as
continuous service and
maintenance.
Outsourcing of services.
Extensive service
packages from one
partner.
Caverion
29
Climate change,
energy efficiency
Digitalization
Fragmented
market
Tightening legislation,
growing energy
consumption and need for
modernizations in energy
sector.
Demand for automation
and remote monitoring is
increasing.
A lot of small companies
in the market.
Energy efficiency key
criterion for customers
when selecting service
provider.
Maintenance is
increasingly based on
preventive measures as
well as on actual needs
and conditions.
Extensive services is a
competitive advantage
especially in large
projects.
Growth potential
especially in Germanspeaking areas.
Caverion’s service areas
Kaivomestari, Espoo, Finland
°
Managed
Operations
Build services
Caverion is responsible for the facilities
management and maintenance of the
Kaivomestari property owned by city of
Espoo during the 25-year agreement
period.
•
High school, sports hall and swimming
hall, among others.
Project
• Life cycle agreement based on publicmanagement
private partnership (PPP) model
•
°
The customer
pays a fixed fee and
Caverion guarantees agreed level of
services and energy costs.
Advisory •Services
The key target: to maintain the property’s
value so that after use it is still equivalent
to new.
Caverion
• Service area: Managed Life Cycle
(Facilities management and
maintenance, real estate
administration, outdoor area
maintenance, energy efficiency,
24/7 help desk and control room
services)
• Disciplines: All technologies in the
property
Technical
• Lifespan: 2003 2028maintenance
• Size: 11,400 m2
• Contract value: Not diclosed
Caverion’s service areas
DC Tower, Vienna, Austria
°
Managed
Operations
Build services
Caverion has provided a vast range of
building systems and project
management to DC Tower, the highest
building in Austria. The building
features advanced green design and
functionality.
•
The building is 250 m tall with 60 floors,
Project
comprising of a hotel, apartments and
management
restaurants, among others.
•
° equipped in accordance with the
Built and
energy and sustainability requirements for
green buildings issued by the European
Commission.
Advisory Services
•
Caverion
Advanced solutions such as
heat recovery and rain drainage, among
others.
• Service area: Project Management
(Project Execution, Design &
Engineering)
• Disciplines: Heating & sanitation,
ventilation & air conditioning,
cooling, automation
• Lifespan: 2011 2013Technical
• Size: ~140,000 m2
maintenance
• Contract value: ~EUR 25 million
Caverion’s service areas
Seabrokers, Stavanger, Norway
°
Managed
Operations
Build services
Caverion maintains the technical
systems in five office buildings owned
by Seabrokers. The aim is to provide a
healthy indoor climate and well-run
properties for high profile tenants.
•
Statoil, Gas de France, Sandnes
Sparebank and ENI as tenants.
Project
• The ServiFlex agreement flexibly
management
•
• Service area: Technical Maintenance
combines the maintenance of several
technical disciplines flexibly in one
°
agreement.
• Disciplines: Heating & sanitation,
ventilation & air conditioning, cooling,
electricity, information &
communication services, security &
safety, automation, industrial
installations, process piping.
One contact person from Caverion takes
care of all technical issues.
• Lifespan: 2008 (ongoing)
Advisory Services
• Size: ~110,000
m2
Technical
maintenance
• Contract value: ~ NOK 1,800,000/
year
Caverion
Caverion’s service areas
The Friedrich Loeffler Institute, Riems Island, Germany
°
Managed
Operations
Build services
The technical systems delivered by
Caverion contribute to the bio-safety in
the laboratory that conducts research
on dangerous veterinary viruses.
•
The customer is one of the biggest
BSL3/BSL5 biosafety laboratories
worldwide.
Project
• Caverion has designed and delivered
management
high-end clean room systems and gas
extinguishing systems as fire protection for
°
laboratories
working in pressurized space.
•
Technical solutions were developed in
Caverion’s own R&D centre in Aachen,
Germany.
Advisory Services
• Service area: Advisory Services
(Project Execution)
• Disciplines: Ventilation & air
conditioning, electricity, security &
safety
• Lifespan: 2008–2011
• Size: 89 laboratoriesTechnical
maintenance
• Contract value: ~EUR 50 million
Caverion
Caverion’s service areas
National courthouse, Viborg, Denmark
°
Managed
Operations
Build services
Caverion has designed and installed
building systems for the new
courthouse of Western Jutland. Once
completed later this year, Caverion will
also have full responsibility for
managing operations in the facility
during the upcoming 25 years.
• Life cycle agreement, Public-private
partnership (PPP). Main contractor: A.
Project
Enggaard
management
• The main target: high technical standards
°
and improved
life cycle performance
• Service area: Design & Engineering
(Advisory Services, Project
Execution, Managed Operations,
Managed Life Cycle)
• Disciplines: Heating & sanitation,
ventilation & air conditioning, cooling,
electricity.
• Full responsibility for energy efficiency
• Lifespan: 2013 2039Technical
Advisory Services
• Size: ~9,500 m2
maintenance
• Contract value: Not disclosed
Caverion
Caverion’s service areas
Managed
Karolinska University Hospital (Locum), Solna, Sweden
°
Operations
Build services
Karolinska is one of Scandinavia’s premier
health facilities. Together with Locum,
Caverion has been taking care of technical
maintenance and managing operations in the
hospital area for over a decade.
• 47 employees assigned to work in the area.
• Caverion’s 24/7 operations centre monitors all
technical systems in the area, enabling
corrective measures to be conducted without
Project
delay.
management
• Covers highly critical areas, such as the
hospital’s
° back up power, sterilization
technology and pneumatic tube system
transferring medicines and blood, among
others.
• Service area: Managed Operations
• Disciplines: Heating & sanitation,
ventilation & air conditioning,
cooling, security and safety,
electricity
• Lifespan: 2002 2019
• Size: ~400,000 m2 Technical
The current cooperation is set to continue until
Advisory •Services
2019 with the target of increasing the energy
efficiency by 6% annually.
Caverion
maintenance
• Contract value: Not disclosed
Caverion’s service areas
Vantaa Energy, Finland
°
Managed
Operations
Build services
Vantaa Energy is building the first waste-toenergy plant in the Helsinki region. By
delivering industrial piping to the plant,
Caverion is helping Vantaa Energy to meet
strict environmental requirements.
• With the new plant, the emissions will be
reduced by approx. 20%.
• New process technology used in the plant
required special competence and high quality.
Project
management
• Caverion’s delivery included engineering,
prefabrication and installation of industrial
piping. °
• Prefabrication was used for shortening lead
times and reducing needed manpower at site.
• Service area: Project Execution,
(Project Management)
• Disciplines: Industrial piping (high
pressure and low pressure pipings)
• Lifespan: 2011 2014
• Size: 23 km of pipingTechnical
Advisory Services
Caverion
maintenance
• Contract value: Not disclosed
Examples of orders received in January March 2014
Caverion
37
Road Show Presentation May 2014
°
Rom Eiendom, delivery of building systems, Bergen, Norway
Contract value: over EUR 11 million
°
Sigmund Freud University, delivery of building systems,
Vienna, Austria.
Contract value: EUR 4.6 million
°
Wohlgelegen conference centre, delivery of building systems,
Heilbronn, Germany
The contract value: ~EUR 4.5 million
°
IZD Tower, technical maintenance, Vienna, Austria
Contract value: EUR 3 million
°
Ring Road III, a traffic monitoring system, Finland
Contract value: EUR 2.5 million
°
Opinmäki Campus, electrical works, Espoo, Finland
The contract value: ~EUR 2 million
°
Technical University of Munich, managed operations,
Germany
°
RTL, maintenance of the site, Cologne, Germany
°
Uninett, AV solutions to 120 colleges and universities, Norway
°
SMP, delivery of building systems to a new production plant,
Schierling, Germany
°
Borealis Polymers, the maintenance of the Kilpilahti
production facilities, Kilpilahti, Finland

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