Tikkurila's segment reporting structure to change from the beginning of the year 2014
Tikkurila Oyj
Stock Exchange Release
November 7, 2013 at 09:05 a.m. (CET+1)
Tikkurila Oyj's Board of Directors has decided to change the external reporting
structure of the company. As of January 1, 2014, Tikkurila's reporting will be
divided into the following two reporting segments based on geography, instead of
the previous four:
SBU West consists of Sweden, Denmark, Norway, Finland, Poland, Germany, Estonia,
Latvia, and Lithuania.
SBU East consists of Russia, Central Asian countries, Ukraine, Belarus, Serbia,
Macedonia, and China. Furthermore, this SBU is responsible for the exports to
approximately 20 countries.
The change in reporting structure will have no effect on the organization of
Tikkurila's business operations. "The new reporting structure better supports
developing our business operations, implementing our growth strategy, and taking
EU legislation into consideration. Legislation is one of the key factors
affecting our product development, production, and logistics function," says
Erkki Järvinen, President and CEO.
The new SBU West business unit accounted for less than 60 percent and the new
SBU East for more than 40 percent of the full-year 2012 revenue. The first
interim report based on the new reporting structure will be published on May
8, 2014 (interim report for January-March 2014). The pro forma figures of the
new business units will be published prior to the disclosure of the first
quarter interim report.
Tikkurila Oyj
CFO Jukka Havia
For further information, please contact:
Tikkurila Oyj
Jukka Havia, CFO, mobile +358 50 355 3757, jukka.havia@tikkurila.com
For 150 years already, Tikkurila has provided consumers and professionals with
user-friendly and sustainable solutions for surface protection and decoration.
Tikkurila wants to be the leading paint company in the Nordic area as well as in
Russia and other selected Eastern European countries. - Tikkurila inspires you
to color your life.
www.tikkurilagroup.com