Future outlook
Interim report Q3/2011 2 November 2011
The allocation and development of revenue and profitability is dependant on completion of developer contracting residential production, which accumulates towards the latter part of the year, development of construction margins, and the realisation of planned sales.
Revenue for the year 2011 is estimated to total EUR 650 million (EUR 484.4 in January-December 2010). Profitability of both domestic and international operations is estimated to improve during the second half of the year compared to the first half of 2011. Profit before taxes for the fourth quarter is estimated to exceed EUR 10 million and the profit for the whole year 2011 is expected to exceed the previous year’s level (EUR 7.9 million).
Interim report Q2/2011 3 August 2011
SRV adjusts its outlook for the whole year 2011 regarding revenue and operational profitability. The allocation and development of revenue and profitability is due to the fact that the completion of developer contracting residential production and building up of the international order backlog accumulate towards the latter part of the year.
Revenue is estimated to total EUR 650 million (EUR 484.4 in January-December 2010) and the profitability of both domestic and international operations is estimated to improve during the second half of the year compared to the first half of 2011. The outlook for the whole year is maintained and profit before taxes is expected to exceed the previous year’s level.
Interim report Q1/2011
Revenue and profit before taxes in 2011 are expected to exceed the previous year’s level.
Financial result 2010 17 February 2011
Revenue and profit before taxes in 2011 are expected to exceed the previous year's level.
Interim report Q3/2010 4 November 2010
SRV repeats the previous outlook for the revenue and profit before taxes in 2010.
Revenue in 2010 is expected to exceed the previous year's level and profit before taxes is expected to be positive.
Interim report Q2/2010 5 August 2010
SRV repeats the previous outlook for the revenue and profit before taxes in 2010.
Revenue in 2010 is expected to exceed the previous year's level and profit before taxes is expected to be positive.
Interim report Q1/2010 5 May 2010
SRV changes the previous outlook for 2010 due to the postponement of start-ups of projects in Russia. Revenue in 2010 is expected to exceed the previous year's level and profit before taxes is expected to be positive.
Financial result 2009 11 February 2010
Revenue in 2010 is expected to exceed the previous year's level and profit before taxes is expected to be clearly positive.
Interim report Q3/2009 11 November 2009
The international financial crisis has complicated the financing of property investments and weakened the economic outlook. Start-up decisions and housing sales, in particular, face uncertainties.
The trend in revenue, operating profit and earnings in 2009 will be affected by success of the sales of developer contracting sites and the volume of new work orders. Costs will be cut to improve profitability.
Revenue and operating profit in 2009 are estimated to be below the previous year's figures, but profit before taxes is estimated to be clearly positive.
Interim report Q2/2009 12 August 2009
The international financial crisis has complicated the financing of property investments and weakened the economic outlook. Start-up decisions and housing sales, in particular, face uncertainties.
The trend in revenue, operating profit and earnings in 2009 will be affected by success of the sales of developer contracting sites and the volume of new work orders. Costs will be cut to improve profitability.
Revenue and operating profit in 2009 are estimated to be below the previous year's figures, but profit before taxes is estimated to be clearly positive.
Interim report Q1/2009 13 May 2009
The international financial crisis has complicated the financing of property investments and weakened the economic outlook. Start-up decisions and housing sales, in particular, face uncertainties.
The trend in revenue, operating profit and earnings in 2009 will be affected by success of the sales of developer contracting sites and the volume of new work orders. Costs will be cut to improve profitability.
Revenue and operating profit in 2009 are estimated to be below the previous year's figures, but profit before taxes is estimated to be clearly positive.
Financial result 2008 11 February 2009
The international financial crisis has complicated the financing of property investments and weakened the economic outlook. Start-up decisions and housing sales, in particular, face uncertainties.
The trend in revenue, operating profit and earnings in 2009 will be affected by the sales volume of developer contracting sites and the volume of new works orders. In order to improve profitability, SRV aims to reduce the Group's fixed expenses by cutting costs.
Revenue and operating profit in 2009 are expected to be below the previous year's figures, but profit before taxes is expected to be clearly positive.
Interim report Q3/2008 30 October 2008
International financial crisis has complicated the financing of property investments and weakened the economic outlook. Start-up decisions and housing sales, in particular, face uncertainties.
SRV revises its outlook regarding revenue and operating profit. Revenue in 2008 is expected to be somewhat lower than revenue in the previous year. Operating profit for the last quarter is expected to be positive and operating profit for the whole year to be clearly higher than in 2007.
Interim report Q2/2008 19 August 2008
Construction of business premises is estimated to remain at its present level this year. Selling times of residences have lengthened in Finland, demand has decreased and the demand is estimated to focus on projects that are close to completion. Russia’s strong economic growth is set to support the development of International Operations.
The volume and nature of the order backlog support the level of revenue and earnings in 2008 and provide a favourable basis for the operating profit trend. The sale of the Park Inn hotel in Ekaterinburg is estimated to bring in operating profit of EUR 13 million in the latter part of the year.
Due to uncertainties concerning housing sales, revenue in 2008 is expected to remain on the 2007 level.
The group’s operating profit is anticipated to outperform 2007 by a substantial margin, and the Q2 2008 operating profit is expected to surpass the Q1 2008 operating profit.
Interim report Q1/2008 12 May 2008
Construction of business premises is estimated to remain on present level this year. Selling times of residencies have lengthened in Finland and the demand is estimated to focus on projects that are close to completion. Russia’s strong economic growth is set to support the development of the International Operations.
The level of the order backlog provides a favourable basis for a good trend in revenue and earnings in 2008. The Group will seek to sell the Park Inn hotel located in Ekaterinburg during 2008.
Revenue in 2008 is expected to increase on the previous year. Operating profit in 2008 is anticipated to exceed operating profit in 2007 by a substantial margin.
Financial results 2007, 12 February 2008
The high level of the order backlog provides a solid basis for a good trend in revenue and earnings in 2008. The Group will seek to sell the Park Inn hotel located in Ekaterinburg during 2008.
Housing demand is estimated to decline, and selling periods are expected to lengthen in Finland, particularly for properties located outside growth centres. The outlook for construction of business premises is estimated to remain positive in Finland. Russia’s strong economic growth is set to support the trend in the order backlog and revenue within International Operations.
Revenue in 2008 is expected to increase on the previous year. Operating profit in 2008 is anticipated to exceed operating profit in 2007 by a substantial margin.
Interim report Q3/2007 13 November 2007
The favourable outlook for construction of business premises in Finland and the strong economic growth in Russia support the development of the Group’s order backlog and revenue.
SRV Group’s order backlog is expected to grow in the last part of 2007. Group’s revenue for the whole year is expected to reach ca. EUR 550 million and the operating profit to surpass the previous year’s level.
Interim report Q2/2007 8 August 2007
Outlook for construction and real estate market is expected to remain good. Capacity has brought shortcomings for the availability and cost level of construction subcontracting or materials. The market for construction of business and commercial premises is expected to remain strong. Selling times for dwellings have lengthened and the rise in housing prices has steadied especially outside the growth centres.
Construction volume is expected to increase in Russia, but challenges will be faced as cost levels rise and the shortage in skilled personnel continues.
However, SRV’s order backlog growth makes a good basis for the development of revenue and profit for 2007. The operating profits in Business Premises and Housing business areas are expected to surpass the results for the first half of the year. The selling date of developer contracting projects contributes to the operating profit in International business area.
SRV Group’s revenue and operating profit are expected to surpass the previous year’s level.
Interim report Q1/2007 3 May 2007
The order backlog level provides a positive foundation for the development of revenue and operating profit in 2007. No negative development is expected in domestic housing demand. Construction activity is expected to increase in the Baltic countries and Russia, but the increase in the cost level and shortage of professional staff present new challenges for business operations.