Uponor Corporation Stock exchange release 21 October 2013 14:15 EET
Historic quarterly net sales and operating profit for Uponor Infra’s merged businesses in the years 2012 and 2013 Uponor Infra Oy, a joint venture of Uponor Corporation and the KWH Group, started operations on 1 July 2013. The new company combined the infrastructure pipe systems businesses of both companies into one jointly held company. Its ownership is divided between Uponor at 55.3% and KWH Group at 44.7%. Uponor Infra Oy is consolidated in Uponor Corporation as a separate segment. Uponor has compiled the attached historic performance data for businesses that were merged to form Uponor Infra. The data is given below for the following entities: - KWH Pipe Group’s infrastructure business related information. This information excludes the PEX business that was acquired by Uponor Building Solutions – Europe in a separate transaction prior to the merger. Due to the bimonthly reporting cycle that was used in the KWH Pipe Group, these numbers represent the management’s best estimate. - Uponor Infrastructure Solutions information represents the officially published information for that segment. - Uponor Infra information is a sum of the above two lines. - Uponor Group consolidated, continuing operations information shows the Uponor Group published information where the KWH Pipe Group’s infrastructure business related figures have been included. Until 30 June 2013, Uponor’s infrastructure business was referred to as Infrastructure Solutions. From 1 July 2013 onwards, the segment is called Uponor Infra. These historic numbers are estimates only and cannot be used to calculate future performance in a reliable way.
| Historic net sales and operating profit of Uponor Infra's merged businesses | ||||||||
| Year-to-date quarterly figures | ||||||||
| 2012 | 2013 | |||||||
| YTD | YTD | YTD | YTD | YTD | YTD | |||
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | |||
| KWH Pipe Group (including only infrastructure business*) | ||||||||
| Net sales | 47.3 | 113.7 | 182.8 | 241.9 | 39.1 | 97.8 | ||
| Operating profit | -1.9 | -1.8 | 4.3 | 7.6 | (** | -2.5 | -0.5 | |
| Uponor Infrastructure Solutions (historic published information) | ||||||||
| Net sales | 29.7 | 77.3 | 117.6 | 149.0 | 27.6 | 72.6 | ||
| Operating profit | -1.9 | 0.3 | 2.7 | 0.0 | -3.7 | 0.6 | ||
| Uponor Infra (historic numbers of merged businesses combined) | ||||||||
| Net sales | 77.0 | 191.0 | 300.4 | 390.9 | 66.7 | 170.4 | ||
| Operating profit | -3.8 | -1.5 | 7.0 | 7.6 | -6.2 | 0.1 | ||
| Uponor Group consolidated, continuing operations - including merged businesses | ||||||||
| Net sales | 239.8 | 524.3 | 804.7 | 1,053.4 | 216.8 | 486.9 | ||
| Operating profit | 7.4 | 23.6 | 51.8 | 65.3 | 3.6 | 25.3 | ||
| Quarterly figures | ||||||||
| 2012 | 2013 | |||||||
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | |||
| KWH Pipe Group (including only infrastructure business*) | ||||||||
| Net sales | 47.3 | 66.4 | 69.1 | 59.0 | 39.1 | 58.7 | ||
| Operating profit | -1.9 | 0.0 | 6.1 | 3.3 | (** | -2.5 | 2.0 | |
| Uponor Infrastructure Solutions (historic published information) | ||||||||
| Net sales | 29.7 | 47.6 | 40.3 | 31.4 | 27.6 | 45.0 | ||
| Operating profit | -1.9 | 2.2 | 2.4 | -2.7 | -3.7 | 4.3 | ||
| Uponor Infra (historic numbers of merged businesses combined) | ||||||||
| Net sales | 77.0 | 114.0 | 109.4 | 90.4 | 66.7 | 103.7 | ||
| Operating profit | -3.8 | 2.2 | 8.5 | 0.6 | -6.2 | 6.3 | ||
| Uponor Group consolidated, continuing operations - including merged businesses | ||||||||
| Net sales | 239.8 | 284.5 | 280.4 | 248.6 | 216.8 | 270.1 | ||
| Operating profit | 7.4 | 16.1 | 28.2 | 13.5 | 3.6 | 21.7 | ||
| * KWH Pipe's PEX business was acquired by Uponor Building Solutions as a separate transaction prior to the merger, and its numbers are not included here ** KWH Pipe figures for Q4/2012 include an impairment reversal of €1.5 million | ||||||||
Compilation of the unaudited combined financial information
The above unaudited combined financial information is presented to illustrate the financial impact of the merger. The information does not represent the actual results of operations or financial position of Uponor or its subsidiaries, nor is it intended to project the future results or financial position of the Uponor Group. The information is based on available information and assumptions. There can be no assurance that the assumptions used in the preparations of the unaudited combined financial information will prove to be correct.
For further information, please contact:
Jyri Luomakoski, President and CEO, tel. +358 20 129 2824 Riitta Palomäki, CFO, tel. +358 20 129 2822
Uponor Corporation Tarmo Anttila Vice President, Communications
DISTRIBUTION NASDAQ OMX – Helsinki Media www.uponor.com
Uponor is a leading international provider of plumbing and indoor climate solutions for residential and commercial building markets across Europe and North America. On 1 July 2013, Uponor and KWH Group merged their infrastructure businesses into a jointly owned company, Uponor Infra, which is a leading supplier of infrastructure pipe systems in Northern Europe, with wide operations internationally. In 2012, the Uponor Group employed approx. 3,000 persons in 30 countries and its net sales exceeded €810 million. Uponor Corporation is listed on NASDAQ OMX Helsinki in Finland. http://www.uponor.com .
