Lemminkäinen to renew its operating model and change its reporting structure
LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 29 OCTOBER 2014 AT 8:05 A.M.
LEMMINKÄINEN TO RENEW ITS OPERATING MODEL AND CHANGE ITS REPORTING STRUCTURE
In line with its strategy, Lemminkäinen continues to strengthen its financial position and competitiveness through improvement initiatives. In order to ensure the efficient implementation of these initiatives as well as business-oriented management and setting of targets, Lemminkäinen will renew its operating model and reporting structure as of 1 January 2015.
Lemminkäinen will divide the Infrastructure construction business segment in two. The paving, mineral aggregates and earthworks businesses will be transferred to the new Paving business segment. Foundation engineering, civil engineering and rock engineering will constitute the new Infra projects business segment. The building construction in Sweden will be reported as part of Group’s other operations. Russian operations include both building construction and paving businesses.
The new business segments used in reporting will be:
- Infra projects
- Building construction, Finland
- Russian operations
“We want to fully leverage the strong position in the Northern European infrastructure market. Paving and Infra projects have different development and management needs. The paving business will focus on the continuous improvement of operational efficiency and the sharing of best practices across country borders. In Infra projects, we will seek growth in the infrastructure construction market in the Scandinavian and Baltic countries,” says Casimir Lindholm, Lemminkäinen’s President and CEO.
The company will publish pro forma figures for 2014 according to the new reporting structure in March 2015 at the latest. The 2014 financial statement will be reported according to the current segment division (Infrastructure construction, Building construction, Finland and Russian operations).
Casimir Lindholm, President and CEO
Tel. +358 2071 53304
Ilkka Salonen, CFO
Tel. +358 2071 53304
Katri Sundström, Head of Investor Relations
Tel. +358 2071 54813
NASDAQ OMX Helsinki Ltd
Together with our customers we create conditions that make living, working and travelling functional, safe and healthy. We operate in northern Europe and employ about 6,000 professionals. In 2013, our net sales were about EUR 2.0 billion. Lemminkäinen Corporation’s share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com