1. No category

Paris Road Show Presentation
November 12, 2014
Fredrik Strand, President and CEO
Milena Hæggström, Head of Investor Relations
Contents
°
Business and strategy
°
Market overview
°
Financials and guidance
°
Appendix
Business and strategy
Caverion in brief
Caverion designs,
builds, operates and
maintains
user-friendly and
energy-efficient
solutions for buildings,
infrastructure and
industrial plants.
Revenue by country
Sweden 26%
Key figures in 2013
Revenue
Finland 21%
2,544
Norway 20%
EUR million
Germany 18%
Austria 6%
EBITDA
Denmark 5%
70.9
Other countries 3%
EUR million
(2.8% of revenue)
Personnel
by country
EBIT
Finland 27%
61
Sweden 22%
EUR million
Norway 20%
EBIT
49.4
EUR million
(1.9% of revenue)
Germany 14%
2.2%
of revenue
Austria 4%
Personnel
Denmark 6%
17 673
Other countries 7%
Revenue based on the Group company location
Caverion
4
Company Presentation November 2014
at year’s end
2013 figures: 1-6/2013 carve-out + 7-12/2013 actual.
Moving from financial holding to coherent service and
project corporation
Finland
Our roots
Sweden
Norway
Estonia
Denmark
Germany
Latvia
Russia
Lithuania
Austria
Poland
The Czech Republic
Romania
Caverion Corporation (2013)
YIT
(1912)
Huber Oy
(1879)
Calor AB
(1898)
ABB
building systems
(1988)
caverion GmbH
MCE AG
(2007)
building systems
(1989)
M+W Zander (1998) | Meissner + Wurst (1912) | Krantz (1882) | Zander (1950) | Stangl KG (1929)
MAB Anlagenbau Austria GmbH | Rohr- und Heizungsbau GmbH (1955) | Voest-Alpine MCE Austria | Allmänna Ingeniörsbyrån (1901) | Carl Christensen & Co.
Brdr. Petersens Eftf. A/S | Gerdes & Wesenberg | Monies & Andersens Eftf | E. Rasmussen/ER Electric A/S (1907) | EB Installasjon (1988)
Asea Brown Boveri (1987) | Asea Per Kure AS (1897) | A/S Norsk Elektrisk & Brown Boveri (1908)
Elektro Union National Industri (1917) | Elektrisk Bureau AS (1882) | Frognerkilens Fabrikk Norsk Elektrisk Aktielag (1873)
Caverion
5
AS Norsk Viftefabrikk (1932) | Elmek (1990) | Emico AS (1992) | Tehsistem SIA (2001)
Megatrends in the market support our long-term strategy
Increasing
technology
Improving energy
efficiency
Growing
digitalisation
Fragmented
market
Technology in buildings
currently account for
40 60% of building costs
Tightening legislation
relating to energy efficiency
All technologies in
buildings have an IP
address.
A lot of small companies
in the market
Integrated technologies
require multi-discipline
expertise
Maintenance is
increasingly based on
preventive measures as
well as on actual needs
and conditions.
Caverion
6
In 2020, all new buildings
are required to be on a
passive house level (almost
self-sufficient energy-wise)
Increasing demand for
energy-efficient solutions
also for existing buildings
Demand for remote
monitoring is increasing.
Extensive services a
competitive advantage
especially in large
projects
10,000 buildings currently
under Caverion’s remote
control.
Growth potential
especially in Germanspeaking areas
Life cycle view is included in everything we do
°
°
°
We understand the
complexity of building
technologies and
industrial processes.
We have technical and
management skills in all
disciplines throughout
the life cycle.
We manage the life cycle
- from individual
technologies to
advanced total solutions
- and decrease the costs
related to the property.
Caverion
7
Company Presentation November 2014
Energy
Maintenance
Investment
Managed
Operations
Managed
Technical
Life Cycle
Maintenance
The life cycle model decreases the
costs related to the property and
related processes
Project
Execution
Project
Advisory
Management
Services
Design &
Engineering
Client benefits
o
o
o
o
Functionality and safety
Sustainability
Energy and cost efficiency
Process efficiency
Vision
We are
a leading European
provider of advanced and sustainable
life cycle solutions for buildings and industries.
We design, build, operate and maintain user-friendly and energy-efficient
solutions for buildings, infrastructure and industrial plants.
Mission
Financial
Targets
2016
Strategic
focus
areas
Profitability
(EBITDA) over 6% of
revenue
Average annual
revenue growth > 10%
Negative
working capital
Increasing
profits
Strong
growth
Innovative
and advanced
solutions
Strong
company
image
Excellent
leadership
Operational
excellence
Step ahead + Cooperation + Responsibility + High performance
Values
Caverion
Clear implementation plan to reach 2016 targets
Strong company
image
Market Offer
°
°
°
°
°
°
°
Advisory Services
Design & Engineering Services
Project Management
Project Execution
Managed Life Cycle
Managed Operations
Technical Maintenance
Excellent Leadership
Caverion
9
Company Presentation November 2014
Operational
excellence
Enables profitable
growth
Delivering on growth and profitability
04 Reach
03 Create
02 Build
01 Fix
Increasing profits
– Demerger and
restructuring
Caverion
10
Company Presentation November 2014
Operational
excellence
– Developing internal
processes and
harmonization
Excellent leadership
– Lean organization
and winning team
Innovative and
advanced
solutions
– Developing
business mix
Strong growth
– Back on track
Operational
excellence
– Most efficient
service company
Innovative and
advanced solutions
– Strong own
concepts and
capabilities in
both projects and
services
Strong company
image
Our integrated offering for life cycle solutions
Advisory
Services
Design &
Engineering
Services
Project
Management
Project
Execution
Technical
Maintenance
Public
Industry
Real estate
owners and
developers
Value proposition
for each client
segment
Commercial
view for
each
service
area
Real estate
users
General
contractors
Disciplines
Caverion
11
Company Presentation November 2014
Managed
Operations
Managed
Life Cycle
Delivering on growth and profitability improvement
1. Megatrends
in the market
support our longterm strategy
Caverion
12
Company Presentation November 2014
2. Our
competitive
edge is built on
life cycle
solutions
3. Clear
implementation
plan to reach
2016 targets
Market overview
A leading service company in building systems and
industrial services in Europe
EUR
million
Market
share
1. Bravida
843
14.3%
7.3%
2. Imtech
690
11.7%
100
1.9%
3. Caverion
666
11.3%
4. Consti
79
1.5%
4. Midroc Electro AB
212
3.6%
5. Saipu
40
0.8%
5. Goodtech
200*
3.4%
Denmark
EUR
million
Market
share
EUR
million
Market
share
Sweden
1. Caverion
547
10.5%
2. Are Talotekniikka
377
3. Imtech (EMC)
Finland
EUR
million
Market
share
1. Caverion
516
5.8%
1. Kemp & Lauritzen
268
7.1%
2. Gunnar Karlsen
287
3.2%
2. Wicotec Kirkebjerk
162
4.3%
3. Bravida
262
2.9%
3. Bravida
157
4.1%
4. Oras
166*
1.9%
4. Caverion
140
3.7%
5. OneCo AS
130
1.5%
5. Lindpro
112
2.9%
Germany
EUR
million
Market
share
EUR
million
Market
share
1. Bilfinger FS**
1,132
2.9%
1. Ortner
445
8.1%
2. Imtech
968
2.5%
2. Caverion
148
2.7%
3. Strabag PFS***
872
2.3%
3. Alpine Energie
145
2.6%
4. SPIE
592
1.5%
4. Cofely
130
2.4%
5. Caverion
458
1.2%
5. Stolz
90
1.6%
Norway
*) 2012 figure
Caverion
14
**) Facility Services
Austria
***) Property and Facility Services
Company Presentation November 2014
Text
Caverion has
strong market
Text
position in all
key operating
Text
countries
1
1
3
4
5
2
Revenue
by business area
Revenue
by clients
Service
and
maintenance
55%
Other
clients
75%
Projects
45%
Industry
25%
Caverion has strong growth potential in fragmented
European markets
Company revenues in 2013
(EUR million)
GDF Suez Energy
Services*
14,700
Vinci Energies **
Size of the European
building systems
market in Caverion’s
operating countries
(EUR billion)
5.2
8.9
9,248
28.7
5.9
Bilfinger SE***
6,309
Royal Imtech
4,945
SPIE
4,563
Caverion
Bravida
Strabag Property and
Facility Services
Alpiq Intec
3.6
2,544
1,211
955
836
Source: Company information, Caverion.
**) 59% of 2013 revenue comes from France
***) Includes Industrial and Building & Facility segments
15
5.5
2,489
*) 51% of 2013 revenue comes from France
Caverion
8.5
38.4
8.8
MITIE
2.0 (Baltics)
3.8
Company Presentation November 2014
Source: Market size calculations based
on Euroconstruct (June, 2014) market
volumes.
Market outlook for Caverion’s business in 2014
Service and
maintenance
Projects
Caverion view
Service and maintenance
Sweden
o
Growth opportunities
favorable in all of Caverion’s
divisions.
o
The demand for life cycle
solutions is expected to
increase.
Finland
Norway
Projects
Germany
o
Austria
New investments in building
systems expected to
increase slightly.
o
Denmark
Positive signs can be
seen.
Overall changes in the operating environment due to growing uncertainty over the general marcoeconomic development and mounting geopolitical
tensions have led to some expected cautiousness in project start-ups and service demand during the rest of the year.
Source: Euroconstruct, June 2014
Caverion
16
Company Presentation November 2014
Financials and guidance
Targeting average annual growth in revenue of > 10% by
the end of 2016
°
Group revenue
EUR million
1–12/12: 2,803
12/13: 2,544
7181-6/12: X,XXX748
665
673
653
608
688
595
°
591
588
567
°
Revenue breakdown by country
Revenue by business area
EUR million
9/2014
488
Service and
maintenance
54%
(1 9/2013: 55%)
428 399
379
383
339 334 359
(-12%)
(-4%)
(-11%)
(7%) 108 98
100 90
(-10%)
(-9%)
Sweden
Finland
Norway
Germany
9/13
Caverion
18
In January September, revenue
increased in Germany by 7%
compared to the previous year,
due to improved order backlog in
2013.
In Sweden and Norway,
revenue decreased mainly due
to increased selectiveness in
projects.
Changes in foreign exchange
rates decreased Group revenue
by EUR 53.5 million in
January September.
Company Presentation November 2014
Austria
9/14
Denmark
48 50
(6%)
Other
countries
Projects
46% (45%)
Positive development in order backlog continues
°
Order backlog increased by
6% from the end of September
2013 and by 2% from the end of
June 2014.
°
Changes in foreign exchange
rates decreased the order
backlog for 1 9/2014 by
EUR 16.9 million compared to
9/2013 and increased it by
EUR 6.5 million compared to
6/2014.
Order backlog
EUR million
1,470
1,429
3/12
Caverion
6/12
19
1,340
1,315 1,274 1,296
1,241
1,199
9/12
12/12
3/13
Company Presentation November 2014
6/13
9/13
12/13
1,335
3/14
1,350 1,379
6/14
9/14
Targeting EBITDA margin of over 6% by the end of 2016
o
Turnaround of the Norwegian
project operations has
progressed well during Q3,
according to plan.
o
The effect of non-recurring items
impacting EBITDA was EUR -8.2
million in January September.
EBITDA, EUR million
EBITDA margin, %
12/12: 85.3 (3.0%)
25.6
12/13: 70.9 (2.8%)
26.3
25.3
23.6
23.3
21.5
12.9
3.5% 3.6% 4.0%
9.8
3.9% 3.7%
9.4
1.3% 1.5%
2.0%
3.8%
9.6
1.6%
2.1
0.4%
Caverion
20
Company Presentation November 2014
Guidance published on July 14, 2014 repeated
Revenue
Caverion estimates that
the Group’s revenue for
2014 with comparable
exchange rates will remain
at the previous year's level.
EBITDA
Caverion estimates that
the EBITDA excluding
non-recurring items for
2014 will remain at the
previous year's level.
In 2014 the targeted EBITDA
level will be reached by
o
o
o
The potential changes in general macroeconomic environment may have an effect on Caverion’s business and customers.
Caverion
21
Company Presentation November 2014
Improving the operational
efficiency
Growing the service and
maintenance business
Increasing the project
business in Germany
Improved cash flow
Operating cash flow before financial and tax items
o
EUR million
Rolling 12 months
114.8
108.5
101.3
o
105.4
90.1
o
20.5
11.1
7.2
4.1
-11.1
-11.2
3/13
Caverion
22
4 6/13
7 9/13
Company Presentation November 2014
10 12/13
1 3/14
4 6/14
7 9/14
o
Cash flow (rolling 12 months)
continued to improve
Improved cash flow supported
by more efficient management
of working capital
Target to reduce seasonality
Continuous development and
investment in technologies,
processes and competences
Positive progression towards reaching
a negative working capital continues
Working capital
o
Working capital,
EUR million
Working capital to sales,
% (LTM)
Working capital more stable
and below last year’s level
°
°
°
128
120
°
99
100
94
87
84
64
49
46
3%
3%
4%
3%
3%
4%
2%
3/12
4 6/12
7 9/12 10 12/12 1 3/13
4 6/13
7 9/13
3%
2%
10 12/13 1 3/14 4 6/14
°
Working capital decreased
by 59% compared to 9/2013.
°
Increase by EUR 3.4 million
compared to 12/2013.
49
5%
2%
7 9/14
.
Caverion
23
Company Presentation November 2014
Increased focus on
managing working capital
Cultural change
Improved tools for
invoicing
Payment plans reviewed
as a part of the tender
approval process
Low level of capital expenditure
Continuous development
and investment in
technologies, processes and
competences
Capital expenditure (EUR million)*
% of sales
Capex in 2013
27.8
°
IT investments EUR 22.5
million, mostly demerger
related (EUR 21.3 million)
°
Other investments EUR
5.3m million
1.09%
12.6
Capex in 1-9/2014
°
IT investments EUR 8.1 million,
mainly relating to development
of common business processes
in 2014
°
Other investments amounted to
EUR 4.5 million
0.70%
6.1
1.5
6.6
0.21%
0.24%
2011
2012
0.06%
2010
2013
1-9/2014
*) Capital expenditures consist of investments in tangible (property, plant and equipment) and intangible assets, excluding acquisitions.
Caverion
24
Company Presentation November 2014
Balanced debt structure
Debt maturity
EUR million
92
53
25
2014
2015
2016
2
2
2017
2018
Interest rate type
Loan portfolio
(after hedges)
o
Loan portfolio total:
EUR 173.4 million
Banks 93%
Fixed
interest
47%
Insurance
companies 5%
Others 2%
Caverion
25
Company Presentation November 2014
Floating
interest
53%
o
Average interest rate
after hedges: 2.4%
Financing position enables the implementation
of the Group’s strategy
Development of net debt
EUR million
194
190
87
6/13
9/13
12/13
143
132
6/14
9/14
104
3/14
Liquidity reserve
EUR 121 million
Gross debt to net debt (Q3/2014)
EUR million
EUR million
54
42
Long-term
borrowings
26
79
132
120
Caverion
Unused credit
facilities
Short-term
borrowings
Company Presentation November 2014
Cash and cash
equivalents
Net debt
42
Cash and cash
equivalents
Dividend policy intact
Dividend payout
at least 50 per cent
of the net profit
for the period.
o
Dividend of EUR 0.22/share
paid on April 2, 2014.
o
EUR 27.6 million in total
(78% of the net profit in
2013)
Caverion
27
Company Presentation November 2014
Appendix
Key figures
EUR million
1 9/14
9/13
Change
12/13
-5% 1,746.4
1,855.5
-6%
2,543.6
41.3
55.0
-25%
81.7
-
2.4
3.0
-
3.2
23.3
-8%
33.2
45.6
-27%
70.9
3.8
3.9
-
1.9
2.5
-
2.8
Earnings per share, basic, EUR
0.08
0.09
-13%
0.06
0.15
-59%
0.28
Working capital
49.4
119.9
-59%
49.4
119.9
-59%
46.0
20.5
11.1
84%
13.4
7.1
89%
108.5
131.6
190.1
-31%
131.6
190.1
-31%
86.5
17,329
18,016
-4%
17,346
18,174
-5%
18,071
Revenue
EBITDA
excluding non-recurring items
EBITDA margin
excluding non-recurring items, %
EBITDA
EBITDA margin, %
Operating cash flow before financial
and tax items
Interest-bearing net debt,
end of period
Personnel, average for the period
9/14
7 9/13
Change
566.7
594.8
25.3
26.8
-5%
4.5
4.5
21.5
Comparative figures for 2013 are carve-out figures for the periods before the effective date of the partial demerger (June 30, 2013).
Caverion
29
Company Presentation November 2014
17,263 employees at the end of September
Employees by country
at the end of
September 2014
°
In Q3, we continued to develop
a lean organisation and a winning
team:
°
°
°
°
Finland 28%
°
Sweden 22%
Talent management
Career and organisational
development
Heads of divisions of
Sweden and Germany
appointed to Group
Management Board
Several appointments in
Group functions and within
the operating divisions
Group-wide development
projects to secure operational
excellence on-going:
Norway 17%
°
Germany 14%
°
Austria 4%
Common operational model
Common processes and
integrated solutions
Denmark 6%
Other countries 9%
Caverion
30
Company Presentation November 2014
°
Clear improvement in H-factor
(work safety)
Several large orders received in July September
Henninger Tower,
Frankfurt am Main, Germany
As as a technical general
contractor, Caverion is responsible
for delivering the total technical
soluton for the new residential
building, housing more than 200
apartments in 40 floors. The
building will utilise geothermal
energy for heating and cooling,
among others.
°
°
°
°
°
Service areas:
Design & Engineering Services,
Project Management, Project
Execution
Disciplines: Heating & Sanitation,
Ventilation, Electricity, Cooling,
Security & Safety, Automation
Contract value: EUR 33 million
Size: ~77,000 m²
Lifespan: 12/2014 late 2016
Caverion
31
Company Presentation November 2014
Henninger Tower
Arendal police station,
Norway
A total technical solution for the
new police station. The property
will be built according to passive
house standards.
°
°
°
°
°
Service areas: Design &
Engineering Services, Project
Management, Project Execution
Disciplines: Heating & Sanitation,
Ventilation & Air Conditioning,
Electricity, Security & Safety,
Automation
Contract value: EUR 3.2 million
Size: ~5,700 m²
Lifespan: To be completed in
7/2016
Several large orders received in July September
Aquis Plaza shopping centre,
Aachen, Germany
Delivery of ventilation, air
conditioning and sanitation
systems, including advanced heat
recovery systems, to the new
shopping centre.
Aquis Plaza
Automobile manufacturer,
Germany
Ventilation and air conditioning
systems for the expansion of
an automobile factory.
°
°
°
°
°
°
°
Service areas: Project
Management, Project Execution
Disciplines: Ventilation & Air
Conditioning, Sanitation
Contract value: EUR 5.5 million
Size: ~30,000 m²
Lifespan: To be completed in
autumn 2015
Caverion
32
Company Presentation November 2014
°
°
°
Service area: Project Execution
Disciplines: Ventilation & Air
Conditioning
Contract value: EUR 5.5 million
Size: ~68,000 m²
Lifespan: To be completed in
2/2015
Several large orders received in July September
DZNE research premises,
Bonn, Germany
Valkea shopping centre,
Oulu, Finland
DZNE
DZNE
Electrical installations for the new
shopping centre and the
renovation of the existing property.
The project also covers parking
garage, office premises and
covered pedestrian street.
Installation of ventilation systems
for the new premises of German
Center for Neurodegenerative
Diseases. Individualised solutions
for each space and a highperformance heat recovery
systems.The contract also
includes technical maintenance for
five years.
°
°
°
°
°
°
°
°
Service areas: Project Execution,
Technical Maintenance
Disciplines: Ventilation
Contract value: EUR 8.7 million
Size: ~15,000 m²
Lifespan: 6/2014 early 2016
°
Picture: wulf architekten GmbH
Caverion
33
Company Presentation November 2014
Service area: Project Execution
Disciplines: Electricity
Contract value: EUR 3.5 million
Lifespan: To be completed in 2016
Several large orders received in July September
MTU Aero Engines,
Munich, Germany
MTU Aero Engines
Service agreement for techical
maintenance and managed
operations covering all technical
systems at MTU’s headquarters.
Caverion will also identify and
implement energy-saving
measures for the property.
°
°
°
°
°
Service areas: Technical
Maintenance, Managed
Operations
Disciplines: Heating & Sanitation,
Ventilation & Air Conditioning,
Cooling, Electricity, Automation
Contract value: Not disclosed
Size: ~285,000 m²
Lifespan: 7/2014 onwards
Caverion
34
Company Presentation November 2014
Weberzeile shopping centre,
Ried, Austria
A total technical solution for
the new shopping centre including
an advanced heat recovery
system for increased energy
efficiency.
°
°
MTU
°
°
°
Service area: Project Execution
Disciplines: Heating & Sanitation,
Ventilation & Air Conditioning,
Electricity, Security & Safety
Contract value: Several million
euros
Size: 22,000 m²
Lifespan: To be completed in
summer 2015
Acquisitions have contributed to revenue growth
through the cycle
Group revenue
EURRevenue,
million EUR million
2,876
2,396
2,140
1,680
1,797
1,892
2004
2005
2006
2,803
2,544
2,353
2,125
1,021
678
2002
2003
2008
MCE AG
Calor AB ABB Building Systems
Acquisition
period
2007
Integration and
development
2009
2010
2011
2012
caverion GmbH
Acquisition
period
Integration and
development
2002-2009 figures based on official segment reporting, i.e. sum of building systems and industrial services related revenue figures of YIT, including also internal sales.
2010-2012 figures are external revenue figures based on Caverion’s carve-out segment reporting.
2013 figures: 1-6/2013 carve-out + 7-12/2013 actual.
Caverion
35
Company Presentation November 2014
2013
M&A as a growth driver
50% of revenue growth over cycle from acquisitions
M&A criteria
o
Good strategic fit
•
o
o
o
Geographical
coverage
o
Internal valuation always
prepared
o
Key multiples analysed:
•
Business portfolio
o
EV/Sales
•
Customer sectors
o
EV/EBITDA
o
EV/EBIT
o
P/E
o
Payback time
Complementary skills &
resources
Business culture
Value creation potential
o
Profitability turn-around
o
Strong local market
position
Caverion
Valuation criteria
36
Company Presentation November 2014
o
Multiple levels vary
depending on the target
as well as market
situation
EBITDA development
EBITDA
(excl. EBITDA from other operations)
173
177
135
116
8.1%
132
123
7.4%
106
5.9%
6.4%
6.2%
71
EBITDA,
EUR million
93
5.2%
76
4.6%
4.2%
3.3%
2004
2005
2006
2007
2008
2009
2010
2011
2012
3.0%
EBITDA
margin, %
2013
Note: Building Systems segment figures in YIT reporting; 2010-2012 official carve-out figures. 2013 figures: 1-6/2013 carve-out + 7-12/2013 actual. 2010-2013 EBITDA figures exclude
EBITDA from other operations of EUR -6.1m, -7.1m, -7.4m and -5.0m respectively. EBITDA-% includes YIT Group internal sales for 2004-2009.
Caverion
37
Company Presentation November 2014
33,860 shareholders on September 30, 2014
Owners by category by
shares owned
Largest shareholders
Major shareholders on June 28,2013
Shares,
pcs
% of all
shares
Change after
June,
pcs
Change,
%
1. Structor S.A.
17,840,000
14.20
700,000
4.08
Nominee registered and non-Finnish
holders 31% (June 30, 2014: 34%)
2. Antti Herlin and companies controlled by him
13,080,180
10.41
1,050,000
8.73
Households 22% (20%)
3. Varma Mutual Pension Insurance Company
4,845,561
3.86
0
0
4. Fondita funds
4,135,000
3.29
5. Ilmarinen Mutual Pension Insurance Company
3,904,444
3.11
62,000
0
1.52
0
6. Nordea funds
7. OP funds
3,819,760
3,806,176
3.04
3.03
170,095
-511,669
4.66
-11.85
8. Aktia funds
9. The State Pension Fund
2,088,012
1,570,000
1.66
1.25
350,000
20.14
10. Elo Pension Company
1,344,468
1.07
100,000
0
6.80
0
11. Ilkka Brotherus
12. Evli funds
1,304,740
923,913
1.04
0.74
0
0
0
0
13. Danske Invest funds
14. Etera Mutual Pension Insurance Company
15. Odin funds
16. Caverion Oyj
17. Säästöpankki funds
18. FIM funds
19. Föreningen Konstsamfundet rf
839,685
757,446
526,311
507,155
506,052
478,511
423,002
0.67
0.60
0.42
0.40
0.40
0.38
0.34
-305,000
0
0
-26.64
0
0
501,518
0
140,000
0
0
41.36
0
20. Foundation of Brita Maria Renlunds minne
412,000
0.33
0
0
20 largest, total 63,112,416
All shares 125,596,092
Caverion
38
Company Presentation November 2014
50.25
100.00
General government 11% (11%)
Financial and insurance corporations
14% (14%)
Non-profit institutions 6% (6%)
Non-financial corporations and housing
corporations 17% (15%)
A total of
33,860
shareholders
(June 30,2014:
33,134)
Caverion’s Board of Directors
Re-elected by the AGM on March 17, 2014
Henrik Ehrnrooth (b. 1954) M.Sc. (Forest economics),
B.Sc. (Econ.)
Chairman of the Board
Share ownership: 17,840,000*
Independent of company: Yes
Independent of owners: No
Ari Lehtoranta (b. 1963) M.Sc. (Eng.)
Vice Chairman of the Board
President and Chief Executive Officer of Nokian Tyres plc
Share ownership: 0
Independent of company: Yes
Independent of owners: Yes
Anna Hyvönen (b. 1968) Lic. Tech.
Executive Vice President, Finland & Baltics, Ramirent Plc
Share ownership: 0
Independent of company: Yes
Independent of owners: Yes
Eva Lindqvist (b. 1958) M.Sc. (Eng.), MBA
Professional board member
Share ownership: 1,500
Independent of company: Yes
Independent of owners: Yes
Michael Rosenlew (b. 1959) M.Sc. (Econ.)
Managing Director of Mikaros AB
Share ownership: 0
Independent of company: Yes
Independent of owners: Yes
*) Henrik Ehrnrooth holds indirectly with his brothers Georg Ehrnrooth and Carl-Gustaf Ehrnrooth a
controlling interest in Structor S.A., the largest shareholder of Caverion Corporation.
Caverion
39
Company Presentation November 2014
Caverion Group Management
Group key executives
Fredrik Strand
Antti Heinola
Merja Eskola
President and CEO
CFO
Human Resources
Sakari Toikkanen
Päivi Alakuijala
Juhani Pitkäkoski
Group Development & Support
Marketing & Communications
Mergers & Acquisitions
Business area executives
Division executives
Ulf Kareliusson
Project excellence
Sweden
Norway
Matti Malmberg
Werner Kühn
Jarno Hacklin
Service efficiency
Germany
Finland
Manfred Simmet
Peter Rafn
Austria
Denmark
Erkki Huusko
Industrial Services
Caverion
40
Knut Gaaserud
Karl-Walter Schuster
Company Presentation November 2014