Key Developments: Lassila & Tikanoja Oyj (LAT1V.HE)

LAT1V.HE on Helsinki Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Lassila & Tikanoja completes divestment of Latvian business operations
Thursday, 13 Mar 2014 10:00am EDT 

Lassila & Tikanoja Oyj:Completes divestment of Latvian business operations.The acquirer is Bioinvest SIA.  Full Article

Lassila & Tikanoja divests its Latvian business operations
Monday, 3 Mar 2014 02:00am EST 

Lassila & Tikanoja Oyj:Says it signed an agreement with Bioinvest SIA on the sale of L&T’s business operations in Latvia to Bioinvest SIA.Says as a result of the divestment, about 950 employees will transfer to Bioinvest’s payroll.Expects to finalize the transaction in March.Says the parties have agreed that the transaction price will not be made public.Is to recognize a capital gain of approximately 1 million to 2 million euros on the divestment in its first-quarter interim report for 2014 in accordance with IFRS accounting practices.  Full Article

Lassila & Tikanoja Oyj proposes a dividend of 0.50 euros per share; issues FY 2014 net sales and operating profit guidance
Wednesday, 5 Feb 2014 01:06am EST 

Lassila & Tikanoja Oyj:Says the Board of Directors proposes to the Annual General Meeting that a dividend of 0.50 euros per share be paid for the 2013 fiscal year.Says the dividend is paid to shareholders included in the company shareholder register maintained by Euroclear Finland Oy on the record date, Mar. 24.Says the Board proposes to the Annual General Meeting that the dividend be paid on Mar. 31.Says no dividend shall be paid on shares held by the company on the record date of Mar. 24.Says it issued its outlook for fiscal year 2014.Sees full-year net sales in 2014 to remain at the 2013 level (fiscal year 2013 revenues stand at 668.22 mln euros).Sees operating profit, excluding non-recurring items, to remain at the 2013 level or improve slightly.Fiscal year 2014 revenues at 688.67 mln euros - Thomson Reuters I/B/E/S.  Full Article

Lassila & Tikanoja Oyj Proposes Extraordinary Dividend
Wednesday, 23 Oct 2013 02:05am EDT 

Lassila & Tikanoja Oyj announced that the Board of Directors of the Company proposes to the Extraordinary General Meeting that based on the balance sheet adopted for the financial period ended on December 31, 2012, an extra dividend of EUR 0.35 per share as well as an additional capital repayment of EUR 0.15 per share be distributed to shareholders in addition to already paid capital repayment of EUR 0.60 per share decided by the Annual General Meeting on March 12, 2013. Thus, according to the proposal, the cumulative amount of the extra dividend and the additional capital repayment would be EUR 0.50 per share.  Full Article

Lassila & Tikanoja Oyj Updates on FY 2013 Financial GUidance
Wednesday, 23 Oct 2013 01:00am EDT 

Lassila & Tikanoja Oyj announced that the Company's full fiscal year 2013 sales are expected to remain at the 2012 level. Operating profit, excluding non-recurring items, is expected to remain at the 2012 level or improve slightly. For the fiscal year 2012 the Company reported net sales of EUR 673,985 million and operating profit of EUR 48,391 million. According to I/B/E/S Estimates analysts on average are expecting Lassila & Tikanoja to report revenue of EUR 675.83 million and EBIT of EUR 50.10 million for the fiscal year 2013.  Full Article

Lassila & Tikanoja Oyj Maintains FY 2016 Financial Targets
Monday, 23 Sep 2013 02:00am EDT 

Lassila & Tikanoja Oyj announced that the Company's financial targets for the fiscal year 2016 remain unchanged. The Company expects to report organic growth in net sales of more than 5%, operating profit of 9%, return on investment of 20% and gearing of between 30 and 80% for the fiscal year 2016.  Full Article

Lassila & Tikanoja Oyj Comments On FY 2013 Guidance
Tuesday, 6 Aug 2013 01:00am EDT 

Lassila & Tikanoja Oyj announced that for the fiscal 2013, the Company expects its net sales to remain at the fiscal 2012 level, and operating profit excluding non-recurring items, is expected to remain at the fiscal 2012 level or improve slightly. For the fiscal year 2012, the Company reported revenue of EUR673.99 million and EBIT of EUR47.40 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenues of EUR677.66 million and EBIT of EUR50.15 million for the fiscal 2013.  Full Article

Lassila & Tikanoja Oyj Announces Consideration of Charges Relating to Lassila & Tikanoja’s Overtime Investigation Complete
Monday, 1 Jul 2013 10:00am EDT 

Lassila & Tikanoja Oyj announced that the District Prosecutor for Helsinki has today decided to press charges against 21 former and current management staff at Lassila & Tikanoja, including Mr. Pekka Ojanpaa, President and CEO since November 1, 2011. They will be accused of crimes related to occupational health and safety, and working hours, legislation. In the summer of 2012, monitoring by the Regional State Administrative Agency for South Finland revealed that in a few of Lassila & Tikanoja plc’s units in the Helsinki region the legal limits of overtime work had been exceeded. The police investigation and the consideration of charges were aimed at the overtime work of 25 of L&T's property maintenance employees. These alleged acts are suspected to have occurred between 2009 and 2012. In addition, the prosecutor has demanded that the Company pay a corporate fine of minimum EUR 100,000.  Full Article

Lassila & Tikanoja Oyj Comments on FY 2013 Guidance
Wednesday, 24 Apr 2013 01:00am EDT 

Lassila & Tikanoja Oyj announced that for the fiscal year 2013, the Company expects its net sales (revenue) to remain at the 2012 level, and operating profit, excluding non-recurring items (EBIT), is expected to remain at the 2012 level or improve slightly. For the fiscal year 2012, the Company reported revenue of EUR 673.99 million and EBIT of EUR 47.40 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of EUR 686.17 million and EBIT of EUR 52.44 million for the fiscal year 2013.  Full Article

Lassila & Tikanoja Oyj Proposes No FY 2012 Dividend
Friday, 1 Feb 2013 01:00am EST 

Lassila & Tikanoja Oyj announced that the Board of Directors proposes to the Annual General Meeting that the profit for the fiscal year (FY) 2012 be placed in retained earnings and that no FY 2012 dividend be paid, the same as in the FY 2011.  Full Article

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