Dovre Group sells its shares of a real estate company Kuukoti – capital gain to improve outlook for 2019

Dovre Group Plc              Stock Exchange Release – Insider Information       September 13, 2019 at 2 pm

Dovre Group sells its shares of a real estate company Kuukoti – capital gain to improve outlook for 2019

Dovre Group Plc has today signed a contract to sell its shares of the Kiinteistö Oy Kuukoti real estate company to TK Olari Kehitys Ky. The Kuukoti property is located in Espoo and has been used as an office space by Dovre's Finnish operations. The transaction will generate a capital gain of EUR 0.7 million to Dovre Group´s third quarter profit, as well as a cash flow effect of EUR +1.6 million.

“Ordinarily when a company sells its office property, the operational expenses will go up because of the new office rent. In Dovre's situation this is not the case, since the current office space has been five times too large compared to the actual need and its maintenance expenses have been equal to the expected rent of a new suitably sized rental office space", says the Vice Chairman of the Dovre Group Board Ilari Koskelo.

New outlook – operating profit expected to be more than EUR 2.3 million

Dovre Group’s outlook for 2019 will improve due to the non-recurring capital gain generated from the transaction.

The new guidance: Dovre Group’s net sales in 2019 are expected to improve compared to 2018 and the operating profit is expected to be more than EUR 2.3 million. The operating profit includes non-recurring items of EUR -0.1 million related to the Tech4Hire acquisition and EUR +0.7 million related to the divestment of Kuukoti property.

The previous guidance (published 25th of June 2019):  Dovre Group’s net sales in 2019 are expected to improve compared to 2018 and the operating profit is expected to be more than EUR 1.6 million.

This release contains information which Dovre Group makes public pursuant to the EU Market Abuse Regulation, article 17.

DOVRE GROUP PLC

For more information, please contact

Ilari Koskelo

Vice Chairman

Tel. 8

Mari Paski

CFO

Tel. +358 20 436 2000

Dovre Group is a global provider of project management services. Dovre Group has two business areas: Project Personnel and Consulting. Dovre Group has offices in Canada, Finland, Norway, Singapore and the US, and employs more than 650 people worldwide. Dovre Group is listed on the Nasdaq Helsinki (symbol: DOV1V). Company website: