Caverion sells its subsidiary in Czech Republic

Caverion Corporation Investor news 21 December 2018 at 9.00 a.m. EET

Caverion sells its subsidiary in Czech Republic

Caverion has signed an agreement to sell the entire share capital of its subsidiary in Czech Republic. The buyer is KART, spol. s r.o., part of conglomerate CEZ Group. Caverion announced earlier this week that it is selling its operations also in Poland.

“Czech Republic has been a very small market for us. This divestment is the next step of our strategy aiming to focus on our core businesses in our main market areas. Now we continue improving our performance in the remaining ten countries and wish all the best success in the future for our colleagues in Czech Republic,” says Ari Lehtoranta, CEO and President of Caverion Corporation.

The revenue of the company to be sold, Caverion Česká republika s.r.o., was approximately EUR 2.4 million in 2017, and the number of employees approximately 40 people. The Czech Republic subsidiary has been reported under Caverion’s Division Austria.

The divestment is expected to be completed in January 2019. The transaction value is not disclosed. The divestment has no material impact on the financial position and performance of Caverion Group.

For more information, please contact:

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

Milena Hæggström, Head of Investor Relations, tel. +358 40 5581 328, milena.haeggstrom@caverion.com

Caverion provides smart technical solutions and services for buildings, industrial processes and infrastructure. Our unique service offering covers the entire life cycle: design, build and maintenance. Our vision is to be the first choice in digitalising environments for customers, employees, partners and investors. Our revenue in 2017 was approximately EUR 2.3 billion. Caverion has about 16,000 employees in 12 countries in Northern, Central and Eastern Europe. Caverion’s shares are listed on Nasdaq Helsinki. www.caverion.com Twitter: @CaverionGroup