Lassila & Tikanoja Oyj

Lassila & Tikanoja plc announced that it will release its Financial Statements for 2024 on February 13, 2025, at 8:00 am. The statements will be accessible on the company's website. A conference call and webcast for analysts, institutional investors, and media will be held the same day at 10:30 am Finnish time, hosted by CEO Eero Hautaniemi and CFO Joni Sorsanen. Participants can register for the teleconference to receive access details, and the webcast can be accessed online. Lassila & Tikanoja, a service company focused on the circular economy, operates in Finland and Sweden with 8,160 employees and reported net sales of EUR 802.1 million in 2023. The company is listed on Nasdaq Helsinki.

Lassila & Tikanoja plc's Shareholders’ Nomination Board has made proposals for the 2025 Annual General Meeting, scheduled for March 27, 2025. The Board proposes having eight members on the Board of Directors, with six current members re-elected and two new members, Tuija Kalpala and Anna-Maria Tuominen-Reini, elected. Jukka Leinonen is proposed as Chairman, and Sakari Lassila as Vice Chairman. Laura Lares will not seek re-election. The proposal involves amending the Articles of Association to allow for eight board members. Shareholders representing about 22.1% of shares support the proposal. The remuneration for board members remains unchanged from 2024, with specific amounts for the chairman, vice chairman, and members, and additional fees for committee roles. Part of the remuneration will be paid in company shares. The Nomination Board includes representatives from the company’s largest shareholders and the Chairman of the Board. Lassila & Tikanoja, a service company focused on the circular economy, operates in Finland and Sweden with 8,160 employees and had net sales of EUR 802.1 million in 2023. It is listed on Nasdaq Helsinki.

Lassila & Tikanoja Plc announced a new performance period for its Performance Share Plan, covering 2025-2027, aimed at key employees including the President, CEO, and the Group Executive Board. The plan, established in 2022, consists of three performance periods from 2023 to 2027. The rewards for the 2025-2027 period could amount to the value of approximately 324,578 company shares, including cash payments. Lassila & Tikanoja is a service company focused on the circular economy, operating in Finland and Sweden with around 8,160 employees and 2023 net sales of EUR 802.1 million. The company is listed on Nasdaq Helsinki.

Lassila & Tikanoja Plc announced that it will recognize impairments and make provisions totaling approximately EUR 28 million related to its Swedish facility services business in its Q4 2024 reporting. This decision comes after weaker than expected net sales and operating profit in this sector. An impairment of around EUR 23 million will be recorded in the consolidated goodwill for Facility Services Sweden, reducing its balance sheet value to about EUR 9 million. Additionally, provisions of roughly EUR 5 million will be made for unprofitable customer agreements and disputes, involving two public-sector contracts where future expenses are expected to exceed revenue. These financial adjustments will not affect the company's cash flow, adjusted operating profit, or 2024 guidance. Lassila & Tikanoja is a service company focused on the circular economy, operating in Finland and Sweden with approximately 8,160 employees and 2023 net sales of EUR 802.1 million. The company is listed on Nasdaq Helsinki.

Lassila & Tikanoja plc is planning to potentially separate its circular economy and facility services businesses into two independent listed companies. This decision, made by the Board of Directors, aims to enhance shareholder value by allowing each business to pursue its strategies and growth opportunities more effectively. The planning process for this potential partial demerger is expected to take about 12 months and requires approval from the Extraordinary General Meeting. Additionally, Lassila & Tikanoja is launching an efficiency program in early 2025 to improve performance, targeting an annual improvement of at least EUR 8 million by the end of 2026. This program will focus on simplifying processes and improving procurement and equipment use. Starting January 2025, the company will report its financials in three segments: Circular Economy Business, Facility Services Finland, and Facility Services Sweden. The proposed separation is subject to legal regulations and consultations, and further information will be shared during the process. Lassila & Tikanoja is a service company focused on the circular economy, with operations in Finland and Sweden, employing around 8,160 people, and generating net sales of EUR 802.1 million in 2023.

Lassila & Tikanoja plc released its interim report for January to September 2024, highlighting a solid profit performance despite challenging economic conditions. The company's net sales for the third quarter were EUR 192.3 million, a decrease from EUR 200.9 million the previous year, with an adjusted operating profit of EUR 20.0 million. The company expects net sales and operating profit for 2024 to remain at or above the previous year's levels. In Finland, business operations performed well, with Facility Services Finland showing improved results due to strong demand for data-driven services and cost structure streamlining, despite a reduction in staff. However, Facility Services Sweden faced challenges after losing a significant customer, resulting in decreased net sales and operating profit. The company is working on simplifying operating models and adapting cost levels in Sweden. Industrial Services experienced strong demand in hazardous waste and process cleaning, while Environmental Services faced reduced demand in the construction sector. The company is focusing on efficiency improvements and adapting to market conditions. Financially, net cash flow from operating activities decreased, impacted by acquisitions and working capital tied up. The company maintained a stable equity ratio and gearing ratio, with dividends of EUR 0.49 per share distributed for 2023. Capital expenditures were primarily on machinery and information systems. Sustainability efforts showed positive developments in carbon footprint reduction and safety measures. The company is also undergoing strategic reviews for its Facility Services divisions in Finland and Sweden to enhance growth in circular economy operations. Lassila & Tikanoja is proceeding with its strategy to support circular economy business growth and has made leadership changes in its executive board. The company announced the acquisition of Stena Recycling Oy's pallet business, pending regulatory approval, and continues to address risks such as economic uncertainty, cost changes, and geopolitical tensions.

Lassila & Tikanoja plc announced that it will release its Interim Report for January-September 2024 on Friday, 25 October 2024, at 8:00 am. The report will be available on the company's website. A webcast for analysts, investors, and media will be held at 10:30 am EET the same day, hosted by CEO Eero Hautaniemi and CFO Joni Sorsanen. Interested parties can register for the teleconference or access the audio webcast through provided links. Lassila & Tikanoja is a service company focused on the circular economy, operating in Finland and Sweden with 8,160 employees and net sales of EUR 802.1 million in 2023. It is listed on Nasdaq Helsinki.

Lassila & Tikanoja plc announced the composition of its Nomination Board for 2024. The board includes representatives from the company's three largest shareholders: the Evald and Hilda Nissin Säätiö foundation, a group of shareholders led by Chemec Oy, and the Nordea Nordic Small Cap Fund. Jukka Leinonen, Chairman of Lassila & Tikanoja's Board of Directors, is the fourth member, and Juhani Lassila is the Chairman of the Nomination Board. The board is responsible for preparing proposals for board members and remuneration for the next Annual General Meeting. Lassila & Tikanoja is a service company focused on the circular economy, employing 8,160 people, with net sales of EUR 802.1 million in 2023. The company is listed on Nasdaq Helsinki.