Dovre Group Plc        Stock exchange release        April 29, 2025, at 8:45 a.m.     On January 8, 2025, Suvic announced that it had signed a conditional contract for the construction of a 100 MWp solar park in Finland. The contract is conditional on a Notice to Proceed (NTP), which was expected in late February 2025. The value of the contract is approximately EUR 55 million.On January 22, 2025, it was announced that Dovre Group had acquired the shares of Renetec Oy held by minority shareholders, which entitled them to approximately 42.8% of the company’s ownership. In accordance with the parties’ mutual agreement, the purchase price is not public.On February 26, 2025, Suvic announced that it had received a Notice to Proceed, which resulted in the above-mentioned conditional order for a 100 MW solar park being realized as a contract.On February 28, 2025, Suvic announced a conditional contract worth EUR 54 million for a wind farm in Finland. The Notice to Proceed announcement was expected in March-April.On March 11, 2025, Suvic announced that it had signed a contract to build a battery-based energy storage system. The client for the contract is Renewable Power Capital Ltd. (RPC), headquartered in London. The capacity of the energy storage system (BESS, Battery Energy Storage System) to be built is approximately 50 MW / 100 MWh. The battery storage will be built next to Fingrid’s substation.Dovre Group issued two profit warnings after the turn of the year regarding the results of the reporting period. On 3 February 2025, the company updated its profit forecast upwards, as higher-than-expected net sales and profit were recorded from the Renewable Energy segment projects in Finland. In turn, a significant increase in losses from ongoing projects in Sweden led to a negative profit warning on 12 March 2025.On 12 March 2025, following the large losses and profit warning reported from two Swedish projects, it was decided to make changes to Suvic Oy’s management team. The company immediately launched a search for a new CEO and CFO. Current CEO Ville Vesanen will continue in his position until his successor takes over. Vesanen will then move to the position of Chief Operating Officer (COO). The company’s CFO Ville Kemppinen has also committed to continuing in his position until the transfer to his successor has been completed.On March 31, 2025, we announced that Dovre Group Plc’s CFO Hans Sten had submitted his resignation to the company. Sten will leave his position at the end of June 2025.BOARD OF DIRECTORSSanna Outa-Ollila, Acting CEO
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(GlobeNewsWire)