Lehto Group Plc:IMPACT OF IFRS 15 STANDARD IMPLEMENTATION FOR FINANCIAL INFORMATION 2017

Lehto Group Plc
Stock Exchange release
3 May 2018, 7:55 a.m. EEST

Lehto has adopted the IFRS 15 Revenue from Contracts with Customers retroactively from 1 January 2018 in accordance with IAS 8, and presents restated comparative data for 2017. Figures are unaudited.

The impact of new standard on the company's net sales for 2017 is minor. The Company’s contracts with customers are generally less than 12 months in duration. There are minor effects due to combination of customer contracts, the recognition of revenue from additional work not part of the contracts and the treatment of variable consideration. The Group has also some contracts that do not meet the criteria of IFRS 15 for recognition over time but they are recognised when control is passed, i.e. at a certain point in time.

Net Sales by Service Area Restated Restated Restated Restated
EUR million 1-12/2017 1-9/2017 1-6/2017 1-3/2017
Business Premises 181.2 108.0 72.6 34.2
Housing 232.2 128.9 74.4 10.7
Social Care and Educational Premises 109.1 48.6 34.3 13.8
Building Renovation 75.1 49.9 32.6 16.5
Total 597.6 335.4 213.9 75.2
Net Sales by Service Area Reported Reported Reported Reported
EUR million 1-12/2017 1-9/2017 1-6/2017 1-3/2017
Business Premises 181.2 108.0 72.6 34.2
Housing 232.6 131.8 77.2 10.7
Social Care and Educational Premises 105.3 77.6 49.1 19.3
Building Renovation 75.1 49.9 32.6 16.5
Total 594.1 367.3 231.5 80.6
Restated Restated Restated Restated
Group result 1-12/2017 1-9/2017 1-6/2017 1-3/2017
Net sales, EUR million 597.6 335.4 213.9 75.2
Operating profit, EUR million 64.6 25.5 15.4 4.9
Operating profit, % of net sales 10.8% 7.6% 7.2% 6.5%
Profit for the period, EUR million 51.6 20.5 12.1 3.7
Reported Reported Reported Reported
Group result 1-12/2017 1-9/2017 1-6/2017 1-3/2017
Net sales, EUR million 594.1 367.3 231.5 80.6
Operating profit, EUR million 61.5 33.5 19.9 6.8
Operating profit, % of net sales 10.4% 9.1% 8.6% 8.5%
Profit for the period, EUR million 49.2 26.9 15.7 5.3

Further information:

Veli-Pekka Paloranta, Chief Financial Officer
+358 400 944 074
veli-pekka.paloranta@lehto.fi

www.lehto.fi

Lehto Group in brief:
Lehto is the fastest growing construction and real e group. We operate in four service areas: Business Premises, Housing, Social Care and Educational Premises, and Building Renovation. We are the innovator and pioneer of the construction sector. Our economically driven operating model makes construction more profitable, ensures the quality of construction and brings significant time and cost savings to the customer. At the end of 2017, we employed around 1,200 people. Our net sales for 2017 amounted to EUR 594 million.

About Us

Lehto is the fastest growing construction and real e group. We operate in four service areas: Business Premises, Housing, Social Care and Educational Premises, and Building Renovation. We are the innovator and pioneer of the construction sector. Our economically driven operating model makes construction more profitable, ensures the quality of construction and brings significant time and cost savings to the customer. We employed around 1,300 people (Q1 2018). Our net sales for 2017 amounted to EUR 598 million.

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