Brief: SRV Q3 Operative Operating Result Swings To Loss Of EUR 0.6 Million

SRV Yhtiot Oyj

28/10/2021 06:36

Oct 28 (Reuters) - SRV Yhtiot Oyj  SRV1V.HE :
    * SRV'S INTERIM REPORT JANUARY-SEPTEMBER 2021: BALANCE SHEET
STRENGTHENED AND INDEBTEDNESS DECREASED FURTHER, RESULT BURDENED
BY THE SIGNIFICANTLY WEAKER MARGIN OF A SINGLE PROJECT
    * Q3 REVENUE EUR 191.1 MILLION VERSUS EUR 209.9 MILLION YEAR
AGO
    * Q3 OPERATIVE OPERATING LOSS EUR 0.6 MILLION VERSUS PROFIT
EUR
5.6 MILLION YEAR AGO
    * OUTLOOK FOR 2021 (UPDATED)
    * HAS NOT BEEN ABLE TO START UP DEVELOPER-CONTRACTED HOUSING
PROJECTS IN LINE WITH TARGET SCHEDULE OF RECOVERY PROGRAMME.
    * IN 2021, COMPANY WILL CONTINUE TO FOCUS ON REDUCING
INDEBTEDNESS
AND SEEKS STRONG CASH FLOW
    * OPERATIVE OPERATING PROFIT FOR LAST QUARTER WILL BE
SIGNIFICANTLY AFFECTED BY COST MANAGEMENT OF WORK ON FINAL PHASE
OF TAMPERE ARENA
    * CONSOLIDATED REVENUE FOR 2021 IS TO AMOUNT TO EUR
900-1,000
MILLION (REVENUE IN 2020: EUR 975.5 MILLION). (PREVIOUSLY: EUR
900-1,050 MILLION.)
    * 2021 OPERATIVE OPERATING PROFIT IS EXPECTED TO IMPROVE ON
2020
AND TO AMOUNT TO EUR 16-21 MILLION (PREVIOUSLY: EUR 16-26
MILLION.)

Source text for Eikon:  ID:nWkrC1QyH 
Further company coverage:  SRV1V.HE 

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