Inside information: Lassila & Tikanoja plc has completed a strategy review and decided to focus on its circular economy businesses
25 Octobre 2023 - 6:30PM
Inside information: Lassila & Tikanoja plc has completed a
strategy review and decided to focus on its circular economy
businesses
Lassila & Tikanoja plcInside information25 October 2023 at
7:30 p.m.
Inside information: Lassila & Tikanoja plc has completed
a strategy review and decided to focus on its circular economy
businesses, in addition the company initiates an evaluation of
strategic alternatives for Facility Services Finland and Facility
Services Sweden
The Board of Director’s of Lassila & Tikanoja has today
completed a review of the company’s strategy. According to the
revised strategy, Environmental Services and Industrial Services
divisions will seek growth especially by focusing on business
opportunities related to circular economy of materials. The company
seeks to grow in these areas organically, potentially supported by
selective acquisitions.
“Mitigating climate change and biodiversity loss requires
actions supporting circular economy from the society and all
companies, and this offers opportunities for L&T. We need new
solutions to improve the recycling rate and increase the material
value of waste and restore contaminated land areas.” says Eero
Hautaniemi, CEO of Lassila & Tikanoja.
The revised strategy will be presented in more detail in
L&T’s Capital Markets Day to be held on 23 November 2023.
Evaluation of strategic alternatives for Facility Services
Finland and Facility Services Sweden will be started
Following the strategy review, the Board of Directors has today
decided to initiate an evaluation of strategic alternatives for
Facility Services Finland and Facility Services Sweden divisions as
a part of the development of L&T’s business portfolio. All
potential options will be considered, including a potential sale of
the divisions.
Facility Services Finland develops the value its customers’
properties with cleaning, property management and technical
services. Facility Services Sweden offers cleaning and technical
services to its customers. Net sales in Facility services Finland
were EUR 256 million and in Facility services Sweden EUR 140
million in 2022.
“L&T’s facility services divisions in Finland and Sweden are
significant size businesses in terms of net sales with strong
market positions in sizeable markets. Now is a good time to
evaluate the next step to develop the businesses and create
value.”, says Hautaniemi.
The evaluation will not have any immediate impact on Facility
Services’ daily business operations or customer work.
Lassila & Tikanoja expects to conclude the strategic
assessment by the end of year 2024. There is no certainty whether
the assessment will result in any transactions and Lassila &
Tikanoja will provide updates on the progress of the evaluation if,
and when, appropriate.
LASSILA & TIKANOJA PLC
Board of Directors
Eero Hautaniemi President and CEO
For additional information, please contact:
Eero Hautaniemi, President and CEO, tel. +358 10 636 2810
Lassila & Tikanoja is a service company that is putting the
circular economy into practice. Together with our customers, we
keep materials, manufacturing sites and properties in productive
use for as long as possible and we enhance the use of raw materials
and energy. This is to create more value with the circular economy
for our customers, personnel and society in a broader sense.
Achieving this also means growth in value for our shareholders. Our
objective is to continuously grow our actions’ carbon handprint,
our positive effect on the climate. We assume our social
responsibility by looking after the work ability of our personnel
as well as offering jobs to those who are struggling to find
employment, for example. With operations in Finland and Sweden,
L&T employs approximately 8,300 people. Net sales in 2022
amounted to EUR 844.1 million. L&T is listed on Nasdaq
Helsinki.
Distribution:
Nasdaq Helsinki Major media www.lt.fi/en
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