Caverion to divest its subsidiary in Russia

The transaction value will not be disclosed. Caverion's Russian business had a revenue of approximately EUR 16.6 million in 2020 and 460 employees. Caverion will book a one-off capital loss of approximately EUR 10 million related to the divestment in its Q4/2021 result, which will be reported in items affecting comparability. The largest part of the capital loss relates to negative translation differences, which have no cash flow effect and no effect on the Group's total equity. Overall, the divestment has only a limited impact to Caverion's cash flow.
HELSINKI, (informazione.it - comunicati stampa - industria)

The transaction value will not be disclosed. Caverion's Russian business had a revenue of approximately EUR 16.6 million in 2020 and 460 employees. Caverion will book a one-off capital loss of approximately EUR 10 million related to the divestment in its Q4/2021 result, which will be reported in items affecting comparability. The largest part of the capital loss relates to negative translation differences, which have no cash flow effect and no effect on the Group's total equity. Overall, the divestment has only a limited impact to Caverion's cash flow.

The transaction does not have any impact Caverion's guidance for 2021.

For further information, please contact:

Martti Ala-Härkönen, Chief Financial Officer, Caverion Corporation, tel. +358 40 737 6633, [email protected]

Milena Hæggström, Head of Investor Relations and External Communications, Caverion Corporation, tel. +358 40 5581 328, [email protected]

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https://news.cision.com/caverion/r/caverion-to-divest-its-subsidiary-in-russia,c3484557

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