Caverion Corporation Stock exchange release 10 June 2024 at 10:15 EET

HELSINKI, June 10, 2024 /PRNewswire/ -- Caverion publishes certain key figures following the announcement of an offering of senior secured notes by Caverion's indirect parent company

NOT FOR DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Assemblin Caverion Group AB (publ), the indirect parent company of Caverion Corporation ("Caverion"), has today announced the offering of senior secured notes (the "Offering") and distributed a related offering memorandum in compliance with Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended, containing information concerning the Offering and the combined Assemblin Caverion Group, including certain financial and other information concerning the Caverion Group.

Caverion published by way of stock exchange release on 30 May 2024 unaudited condensed consolidated interim financial statements of the Caverion Group as of and for the three months ended 31 March 2024.

In addition, Caverion now announces certain supplementary operating data and Non-IFRS financial information, as set out in the below table in the form such is intended to be included in certain materials relating to the Offering. Further information regarding the Offering is available at the Assemblin Caverion Group website at https://www.assemblincaverion.com/investors.

                                             For the year ended December                           For the three
                                                      31,                                 months                      As of and
                                                                      ended March 31,                            for the
                                                                                                                      twelve
                                                                                                                      months
                                                                                                                       ended
                                                                                                                   March 31,


                                       2021    2022             2023            2023              2024                            2024


                                                           (EUR millions, unless otherwise indicated)



            Caverion Order intake  2,382.6 2,394.0          2,494.1           728.6             692.1                         2,457.5
    ...........



            Caverion Order backlog                                                        2,032.7                         2,032.7
    ..........

                                                           Caverion Free Cash Flow is defined as Caverion Adjusted EBITDA, less non-lease tangible net capital expenditures, finance lease
                                                            repayments (excluding interest) and change in Caverion Working Capital. Caverion Cash Conversion is defined as Caverion Free Cash
                                                            Flow divided by Caverion Adjusted EBITA. The following is the calculated Caverion Free Cash Flow and Caverion Cash Conversion for
                                                            the periods presented:


                                                                              For the year ended December 31,                                 For the three months ended March 31,                             For twelve
                                                                                                                                                                                                 months
                                                                                                                                                                                                  ended
                                                                                                                                                                                              March 31,


                                                             2021                  2022                  2023                        2023                       2024                                      2024


                                                                                                    
              
                (EUR millions)



           
                Caverion Adjusted EBITDA           142.1                 163.0                 184.7                        39.1                       42.8                                     188.4
    .....



           Non-lease tangible net capital expenditures     (4.4)                (5.6)                (6.8)                      (1.9)                     (2.1)                                    (6.9)



           Finance lease repayments (excluding interest)  (46.9)               (49.8)               (52.9)                     (12.3)                    (13.5)                                   (54.2)



           Change in Caverion Working Capital             (21.0)                  9.4                  14.0                        10.6                     (12.5)                                    (9.0)



           
                Caverion Free Cash Flow             69.7                 117.0                 138.9                        35.4                       14.7                                     118.2
    .......



           Caverion Adjusted EBITA........                  87.7                 105.8                 123.7                        24.5                       26.6                                     125.7



           
                Caverion Cash Conversion (%)     79.5 %              110.6 %              112.3 %                    144.8 %                    55.4 %                                   94.1 %
    ..

The key figures presented above constitute alternative performance measures that should be read together with Caverion's (interim) financial statements prepared in accordance with IFRS. Alternative performance measures are presented as they are believed to assist users of Caverion's (interim) financial statements in comparing performance across reporting periods. Alternative performance measures should not be considered in isolation or as a substitute for performance measures calculated in accordance with IFRS.

CAVERION CORPORATION

Distribution: Nasdaq Helsinki, key media, www.caverion.com

For further information, please contact:
Pasi Päivärinta, interim CFO, tel. +358 50 485 0304, pasi.paivarinta@caverion.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/caverion/r/caverion-publishes-certain-key-figures-following-the-announcement-of-an-offering-of-senior-secured-n,c3997710

The following files are available for download:


     
     https://mb.cision.com/Main/14078/3997710/2853391.pdf Release

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