SRV Yhtiot Oyj Lowers FY 2012 Pre-Tax Profit Guidance and Maintains FY 2012 Revenue Guidance

SRV Yhtiot Oyj announced that it has lowered the profit margin estimation of three individual fixed price projects by approximately EUR 3 million and adjusts whole fiscal year 2012 profit guidance accordingly. The Company expects to report fiscal year 2012 profit before taxes profitable. Previously, the Company expected to report fiscal year 2012 profit before taxes to exceed the fiscal year 2011 level. The Company also announced that it has maintained its fiscal year 2012 revenue guidance. The Company still expects to report fiscal year 2012 revenue to be at least on par with fiscal year 2011. The Company reported fiscal year 2011 profit before taxes of EUR 10.8 million and fiscal year 2011 revenue of 672.2 million. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2012 revenue of EUR 707.46 million and fiscal year 2012 pre-tax profit of EUR 15.98 million. The Company also announced that its full-year 2012 profit can be significantly affected by the timing of sale of Etmia II office property in Moscow and Derby Business Park in Espoo. The uncertainty of financing markets has also had a negative effect on real estate markets. Even if property sales didn’t take place during 2012, the profit before taxes for full-year 2012 is estimated to be positive.