Administer’s profitability programme is progressing as planned, change negotiations were concluded

Administer began the implementation of a profitability programme in August 2023. As part of the measures to improve profitability, Administer executed change negotiations in some of the Group companies. The negotiations covered approximately 123 employees, and the planned actions could have led to a reduction of 31 employees at most if realized in accordance with the original estimate. The change negotiations have now been concluded. The result of the negotiations was positively affected by the personnel’s active participation in finding solutions, and the number of reductions thereby decreased to 17 employees. In addition, three jobs will be made part-time positions and five people will be laid off.

The profitability programme is progressing as planned, and it targets an annual profitability improvement of approximately EUR 7 million, which is estimated to actualize 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 the personnel reductions mentioned above.

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