5 DISCONTINUED OPERATIONS

2013

At the end of 2013 the company did not have any discontinued operations or assets classified as held-for-sale.

2012

On 28 September 2012, Lemminkäinen sold all its shares in Lemminkäinen Rakennustuotteet Oy. The company specialised in concrete business. The transaction price was EUR 54.3 million, from which the company recognised a gain on sale of EUR 17.3 million before taxes in the second half of 2012. In addition, in April 2012, the Group sold its sports construction business, which was part of the Infrastructure Construction segment, as well as the technical building and property services business in the Uusikaupunki area, which was part of the Technical Building Services segment.

The Lemminkäinen Rakennustuotteet Oy transaction included a separate reacquisition agreement on an asset, which meant that the ownership of the asset was not transferred and gains on sale were not recognised for the asset. The asset was recognised at the original carrying amount, which was lower than the acquisition cost. The company recognised the difference between the carrying amount of the asset and its value in taxation as a deferred tax asset in profit and loss.

The effect of discontinued operations in 2012 was as follows:

EUR 1,000
1 Jan–31 Dec 2012
The profit of the discontinued operations


Income                                                         55,120

Expenses
47,793

Profit before taxes
7,327

Taxes
-1,623

Profit for the financial period
5,704


Pre-tax gain on sale from the sale of the concrete business
17,122
Taxes
854
Gain on sale after taxes
17,976




Profit for the period from discontinued operations
23,680




Cash flows from discontinued operations


Cash flow from business operations
14,882

Cash flow from investments
-1,732

Cash flow from financing
-13,179
Cash flows, total
-29



EUR 1,000
2012
The impact of the sales to Group's financial position at the moment of the sale


Property, plant and equipment
13,978

Goodwill
10,657

Intangible assets
648

Available-for-sale financial assets
9

Deferred tax assets
31

Inventories
9,179

Receivables
8,738

Cash and cash equivalents
34

Deferred tax liabilities
-1,141

Accouts payable and other liabilities
-10,086
Assets and liabilities, total
32,048


Cash considerations received
55,356
Adjustment of re-acquired assets to initial book value
4,411
Transaction costs
1,775