Key Developments: SRV Yhtiot Oyj (SRV1V.HE)

SRV1V.HE on Helsinki Stock Exchange

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Latest Key Developments (Source: Significant Developments)

SRV selected to build New Children's Hospital in Helsinki
Wednesday, 18 Jun 2014 10:00am EDT 

SRV Yhtiot Oyj:Selected to build New Children's Hospital in Meilahti, Helsinki.Signs contracting agreement with Kiinteistoosakeyhtio Uusi Lastensairaala, company developing New Children's Hospital.Construction estimated to start in Aug. 2014.Current aim to open hospital in 2017.Total value of New Children's Hospital project is 160 mln euros.SRV's share to be about 81 mln euros.Project requires planning approval and granting of building permits.  Full Article

SRV to participate in joint construction projects in Espoo
Tuesday, 17 Jun 2014 05:30am EDT 

SRV Yhtiot Oyj:To implement together with LahiTapiola project bringing business premises and homes to Tapiola Centre.Companies plan to build nearly 40,000 square metres of commercial centre as first phase of project.Central block to incorporate West Metro's Tapiola metro station and connecting bus terminal.Commercial centre expected to be completed in spring 2017, after which three residential buildings are to be built above it.SRV to act also as project management contractor.Estimated total cost of first phase exceeds 110 mln euros.SRV to cooperate also with SATO, City of Espoo and West Metro on implementation of Niittykumpu metro centre.Plans include construction of 6,500 square metres of commercial centre on south-west side of Merituulentie and Haukilahdenkatu, next to Niittykumpu metro station, and 12- and 24-storey residential towers.  Full Article

SRV Yhtiot launches shopping centre project in Moscow
Wednesday, 11 Jun 2014 09:53am EDT 

SRV Yhtiot Oyj:Starts the first phase of the SRV-developed Promenade shopping centre project in Mytishi city of Greater Moscow region.The shopping centre will be of about 55,000 square meters and will have around 26,000 square metres of leasable space.Construction will begin in June 2014 and will be completed in H1 2016.Says preliminary lease agreements have been signed for around 60 percent of the leasable floor area.Says the target level of the shopping centre's annual rental income, when it has stabilised, is expected to be around 10 million euros.Total investment of the first phase of the project is around 75 million euros.SRV is acting in the project as a contractor and is responsible for leasing and marketing of the site.The total value of contracts is around 50 million euros.The shopping centre is being developed by a Russian joint venture company, OOO Promenad, whose investors are the Russian pension fund Blagosostoyanie, SRV and Vicus.SRV’s total ownership of the project is around 20 percent, taking into account SRV’s 6.4 percent ownership of Vicus.  Full Article

SRV Yhtiot Oyj confirms FY 2014 outlook
Wednesday, 7 May 2014 01:30am EDT 

SRV Yhtiot Oyj:Confirms its FY 2014 outlook as it remains unchanged.The Group's FY 2014 revenue is expected to be on a par with the previous year (FY 2013: 679.4 million euros) and profit before taxes to amount to 10–20 million euros (FY 2013: 22.8 million euros).  Full Article

SRV Yhtiot issues FY 2014 outlook below analysts' estimates
Friday, 14 Feb 2014 01:30am EST 

SRV Yhtiot Oyj:Expects FY 2014 revenue to be on a par with the previous year and profit before taxes to amount to 10-20 million euros.Reported revenue of 679.4 million euros for FY 2013.FY 2014 revenue 718.00 million euros, pre-tax profit 27.33 million euros - Thomson Reuters I/B/E/S Estimates.  Full Article

SRV Yhtiot proposes increased dividend of EUR 0.12/share for FY 2013
Friday, 14 Feb 2014 01:30am EST 

SRV Yhtiot Oyj:Proposes a dividend per share of 0.12 euro to be paid for FY 2013.Paid dividend of 0.06 euro per share for FY 2012.  Full Article

SRV to build new distribution centre for Stockmann in Tuusula
Monday, 3 Feb 2014 02:30am EST 

SRV Yhtiot Oyj:Says has signed an agreement with SRV on the construction of a new distribution centre.Says the distribution centre will open in 2016 and its investor and lessor is Ilmarinen.Says the Stockmann distribution centre will cover 29,000 square meters.Says the area of the whole site is 133,665 square meters, including space for another centre of similar size, in which the intention is to build a logistics facility in future.Financial details were not disclosed.  Full Article

SRV Yhtiot Oyj to build Tapiola central parking facility
Thursday, 30 Jan 2014 02:54am EST 

SRV Yhtiot Oyj:Says it has been contracted to implement the construction engineering sections of the central parking facility and associated central maintenance facility and air shelter to be built under Tapiola Center.Says the total value of the central parking facility is approximately 110 million euro, of which the value of SRV’s contract is approximately 40 million euro.Says the developer of the project is Tapiolan Keskuspysakointi Oy.Says a contract between the parties was signed on Jan. 29.Says the contract will start immediately and continue until the end of 2015.  Full Article

SRV issues EUR 75 mln senior unsecured bond
Wednesday, 11 Dec 2013 09:08am EST 

SRV Yhtiot Oyj:Issues a 75 million euros senior unsecured bond.Says the five-year bond matures on Dec. 18, 2018.Says annual coupon has been set at the rate of 5.0 percent.Says the bond was allocated to 37 investors.Says Pohjola Bank Plc and Swedbank Ab acted as joint lead managers and bookrunners for the transaction.  Full Article

SRV launches legal proceedings against Kiinteisto Oy Abraham Wetterintie 6
Friday, 29 Nov 2013 08:07am EST 

SRV Yhtiot Oyj:Says SRV Construction Ltd has launched legal proceedings against a real-estate company Kiinteisto Oy Abraham Wetterintie 6.Says the dispute relates to construction costs and schedule as well as the real-estate company’s liability to pay in a construction contract in which SRV Construction has been engaged.Says SRV’s claim amounts to approximately 8.8 million euros, including value-added tax.Says Kiinteisto Oy Abraham Wetterintie 6 is wholly-owned by Keva, the Local Government Pensions Institution.  Full Article

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