Caverion has completed the sale of its Krantz business in Germany

Caverion Corporation Investor news, December 28, 2017 at 4.00 p.m. EET 

Caverion has completed the sale of its Krantz business in Germany

Caverion has completed the sale of its product business under the Krantz brand in Germany to STEAG Energy Services GmbH announced on November 27, 2017. The sale will become effective on December 31, 2017.

Krantz employs approximately 220 people and its revenue was approximately EUR 45 million in 2016.

Divestment is in line with Caverion’s new strategy and transformation towards service business, whereas the product business is not Caverion’s core business.

Caverion will report the capital gain from the divestment under other operating income in its 2017 financial statement release on February 7, 2018.

For further information, please contact:

Martti Ala-Härkönen, Chief Financial Officer, tel. +358 40 737 6633, martti.ala-harkonen@caverion.com

Milena Hæggström, Head of Investor Relations, tel. +358 40 558 1328, milena.haeggstrom@caverion.com

Caverion designs, builds, operates and maintains user-friendly and energy-efficient technical solutions for buildings, industries and infrastructure. Our services and solutions are used in commercial and residential buildings and on industrial and public sector properties, as well as in processes, ensuring business continuity, safety, healthy and pleasant surroundings, optimal performance and cost management. Our vision is to be a leading European provider of advanced and sustainable life cycle solutions for buildings and industries. Our strengths include technological expertise and comprehensive services, covering all technical disciplines throughout the entire life cycles of properties and industrial plants. Our revenue in 2016 was approximately EUR 2.4 billion. Caverion has about 17,000 employees in 12 countries in Northern, Central and Eastern Europe. Caverion’s shares are listed on Nasdaq Helsinki. www.caverion.com, Twitter: @CaverionGroup