Poeyry Increases Domestic Market Focus

摘要

To strengthen long-term profitability, Poeyry improves its organisation and increases its focus on domestic markets. Actions taken to address low-performing units, outsource elements of support operations and streamline administrative processes - EUR40-50 (USD54.1-67.6) million combined run-rate cost savings targeted by the end of 2014. Poeyry's strategic evolution aims at reaching net sales amounting to EUR1 (USD1.35) billion with corresponding operating profit margin of 8-9 per cent by the end of 2017. Addressing low-performing units By the end of 2013, business units representing net sales of approximately EUR100 (USD135) million will have been addressed. As part of these actions in late 2012, Poeyry divested a unit carrying out engineering services in the water, environment, waste and energy sectors in France and a unit in Spain carrying out engineering and consultancy services in the local rail sector representing net sales of approximately EUR22 (USD29.8) million. Moreover, restructuring actions have already commenced on several units. Profit improvements in the range of EUR15-20 (USD20.3-27) million are expected to be achieved by the end of 2013. Related restructuring costs of EUR7.2 (USD9.74) million have been recognised in the fourth quarter 2012 result.