Half-year Financial Report for January 1 – June 30, 2018 (published 25 July 2018)
Operating environment in the second quarter and during the first half of 2018
The overall market situation was relatively positive and stable throughout the period. Demand developed favourably in Finnish, Swedish and German markets. In Danish and Norwegian markets, the general economy and demand situation recovered from the previous year, supported by public demand. In Industrial Solutions division the market was stable in industrial maintenance. The markets for the divisions Eastern Europe and Austria also remained stable.
Demand for Services remained strong. Opportunities for Caverion in terms of outsourced operations and maintenance increased. Interest in public private partnerships and other Life Cycle Solutions was good in the Nordic countries, while these kind of commercial models still represent only a marginal, but a growing part in other markets.
The market for Projects was positive throughout the period. However, price competition remained tight. In large projects, tendering activity remained on a good level, while Caverion continued its selective approach. Low interest rates and availability of financing supported investments. Requirements for increased energy efficiency, better indoor climate and tightening environmental legislation supported demand. In certain technical disciplines there were signs of resource shortage.