Caverion Corporation provided unaudited preliminary financial results for the year 2016. Preliminary Group revenue for 2016 amounted to approximately EUR 2,366 million against EUR 2,443 million for the last year. Preliminary Group EBITDA excluding restructuring costs amounted to approximately EUR 17 million in 2016. Previously, the company estimates that the group's revenue for 2016 will remain at the previous year's level (2015: EUR 2,443 million) and the Group's EBITDA excluding restructuring costs for 2016 will be in the range EUR 40-50 million (2015: EUR 91.5 million).

The company continued the review of its project portfolio in the last quarter of 2016. As a result of the review, several projects were still identified with challenges in project management and execution. Based on the review, the company has made the necessary cost estimate adjustments, write-downs and provision increases related to its project portfolio, which mainly relate to divisions Sweden, Germany and Industrial Solutions. The project write-downs totalled approximately EUR 38 million for the fourth quarter of 2016 and approximately EUR 57 million for the full year of 2016.