Administer implements a profitability programme and begins change negotiations, strategy work also initiated

Administer Plc will begin the implementation of the profitability programme announced earlier in August. The profitability programme targets an annual profitability improvement of approximately EUR 7 million, which is estimated to actualise in its entirety during 2024. The profitability programme includes different measures in different Group companies, including actions for improving sales margins, reducing fixed costs and planned personnel reductions.

As part of the profitability programme, Administer has decided to begin change negotiations in some of the Group companies on 31 August 2023. The negotiations cover approximately 123 employees, and the planned actions could lead to a reduction of 31 employees at maximum if realised. Other activities outlined in the programme have already been started.

The company has also initiated strategy work and will set new long-term financial targets after its completion. In the previous strategy, the long-term targets for 2024 were as follows: net sales EUR 84 million and EBITDA margin 24%. The company has made good progress towards the net sales target but has remained below the target level for EBITDA.

 

More information:

Kimmo Herranen
CEO
Administer Plc
tel. +358 50 560 6322
kimmo.herranen@administer.fi

Kalle Lehtonen
CFO
Administer Plc
tel. +358 400 539 968
kalle.lehtonen@administer.fi

Certified adviser:
Evli Oyj
tel: +358 40 579 6210