Coor’s Deliveries to the New Karolinska Solna Ramping up as Planned

Regulatory News:

Coor (STO:COOR)

Stockholms läns landsting (Stockholm County Council) and Karolinska University Hospital are receiving the keys to the first part of New Karolinska Solna today. The handover symbolizes the transition from a project to operational phase, which means Coor’s assignment to the Karolinska University Hospital in Solna expands significantly.

The Hospital becoming operational means Coor’s assignment expanding significantly. A small team of Coor specialists have been working on the project right back since its start-up in 2010. The assignment has expanded gradually as various buildings have been completed, mainly the car park in 2012 and the technical facility building in 2014, although this transition becomes far more notable now that the actual Hospital building has become operational.

In early 2016, Coor had some 45 people active on the project, and a further 100 service specialists were hired during the spring. Once the whole Hospital is fully operational in 2018, Coor will have some 350 people working on the contract. This assignment consists of a subscription portion, which when the Hospital is fully operational will have an estimated yearly value of SEK 350 m (in 2016 terms), and the option of additional project volumes, as well as revenues from commercial operations within the Hospital. The contract states that Stockholms läns landsting will only pay for a fully functional Hospital, and premises that do not satisfy Stockholms läns landsting’s standards will result in a proportional reduction in compensation.

"Our mission is to develop and deliver efficient, safe and environmentally friendly support service solutions with high quality to the Hospital, and the people working there and visiting it. Our assignment really gets going now that the Hospital has gone operational. Alongside operations at the Karolinska, we’re now working intensively on preparing to admit and sign in the first patients later this year. This is a really important assignment for us, and it is exciting and satisfying to finally implement what we’ve been planning for,” commented Mikael Stöhr, President and CEO at Coor.

Background:

When the assignment between Stockholms läns landsting and Swedish Hospital Partners (SHP), a joint venture between Skanska and Innisfree, was signed in 2010, Coor was selected Coor as its service provider.

Coor’s assignment to New Karolinska Solna is to develop, coordinate and deliver a range of hard and soft FM services at the Hospital’s buildings, and for the people in them. These services include operations and maintenance, security, energy services, parking services, cleaning, logistics, staff restaurants, mail management and customer care/help desks.

The agreement runs until 2040, and embeds mechanisms to maintain market pricing.

For more information about Coor, images etc. please visit www.coor.com. For more information about New Karolinska Solna, please visit www.nyakarolinskasolna.se.

The information in this press release is disclosed by Coor Service Management Holding AB (publ) pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on June, 2, 2016, at 08:30 CET.

Coor is a leading provider of facility management services in the Nordics, focusing on integrated and complex service undertakings (IFM). Coor offers specialist expertise in workplace services (soft FM), property services (hard FM) and strategic advisory services for development of customers’ service activities. Coor creates value by executing, leading, developing and streamlining its customers’ service activities, ensuring that they provide optimal support to the core business over time. Coor’s customer base includes many large and small companies and public-sector organisations across the Nordic region, including AB Volvo, Aibel, Det Norske Veritas, E.ON, Ericsson, EY, ICA, NCC, Politiet (Danish Police), Saab, Sandvik, SAS, Skanska, Statoil, Telia, Swedish Transport Administration, Vasakronan and Volvo Cars.

Coor was founded in 1998 and is listed on Nasdaq Stockholm since 2015. At 31 March 2016, the company had 6,100 employees (FTE) based mainly in Sweden, Denmark, Norway and Finland, and annual sales of SEK 7,500 million (rolling twelve-month basis). Coor takes responsibility for the operations it conducts, in relation to its customers, employees and shareholders, as well as for its wider impact on society and the environment. Read more at www.coor.com

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