SRV Yhtiöt Oyj

SRV Group Plc has appointed Minna Korander as the new Senior Vice President of Human Resources and a member of the Corporate Executive Team, effective by May 1, 2025. Korander, who holds a Master's degree in Food Economics and is 54 years old, previously served as Chief People Officer at Fonecta Corporation and held leadership roles at YIT Group. Saku Sipola, President and CEO of SRV, welcomed her to the team, highlighting her extensive experience in personnel management. Korander expressed her eagerness to contribute to SRV's work culture and the Finnish construction industry. Kristiina Sotka, the current SVP of Human Resources, will leave SRV at the end of January to pursue another opportunity. SRV is a Finnish construction industry developer focused on sustainable urban environments, with a 2023 revenue of EUR 610 million and approximately 800 employees. The company is listed on the Helsinki Stock Exchange and operates in Finland's growth centers.

SRV Group Plc's Shareholders' Nomination Board has made proposals for the Annual General Meeting scheduled for March 27, 2025. They suggest electing six members to the Board of Directors, re-electing current members Matti Ahokas, Heli Iisakka, Ari Lehtoranta, Hannu Leinonen, and Tuomas Kokkila, and electing Anna Hyvönen as a new member. Ari Lehtoranta is proposed as the Chair. All nominees have consented, and most are independent of the company, except for Tuomas Kokkila due to previous employment and board membership in a significant shareholder. The Nomination Board recommends keeping the Board members' remuneration unchanged, with a mix of company shares and cash, and meeting fees paid in cash. They also propose amending the Charter for the Shareholder's Nomination Board to include three members appointed by the largest shareholders, with the Chair of the Board of Directors participating as an expert. Further details and contact information are provided, along with a brief overview of SRV Group, a Finnish construction industry developer focused on sustainability, listed on the Helsinki Stock Exchange.

SRV Group Plc announced that Kristiina Sotka, Senior Vice President of Human Resources and a member of the Corporate Executive Team, has resigned. She will leave the company by April 2025 to pursue a position elsewhere. Saku Sipola, the President and CEO of SRV, expressed gratitude for Sotka's contributions to the company, particularly in human resource management and change implementation. SRV Group, a Finnish construction industry developer listed on the Helsinki Stock Exchange, focuses on creating sustainable urban environments. In 2023, the company had a revenue of EUR 610 million and employed approximately 800 staff, with a network of about 3,300 partners.

SRV Group Plc's interim report for January to September 2024 highlights stable operative operating profit, while revenue and order backlog have grown. The company faces challenges due to higher interest rates and weak financing availability, impacting demand for housing and business premises. Revenue is largely derived from low-margin cooperative contracting, with minimal developer-contracted housing projects expected in 2024. Notable developments include the appointment of Liisa Krogerus as General Counsel and a strong customer satisfaction score. Despite market challenges, SRV's balance sheet remains strong, with a significant order backlog. The company aims for growth in projects with better profitability, though the market's slow recovery affects profitability improvements. SRV's strategy focuses on structural changes in its project portfolio to enhance profitability and market share as demand recovers.