Admicom focuses its strategy on improving the productivity of construction industry customers and organises a Capital Markets Day
Unofficial translation of the company release on November 2, 2022 at 15:00 pm EET. In case the document differs from the original, the Finnish version prevails.
In the 2020s, Admicom has changed from a single ERP system provider to a wide-scale software provider for the construction industry.Admicom still sees a lot of opportunities in Finland and internationally to boost the productivity of the construction industry through digitalization, especially in the area of SMEs.
The customer experience of customers in the construction industry will be at the heart of operations in the clarified strategy. The aim is to significantly increase the productivity and quality of operations of construction entrepreneurs through digitalisation. Digitalization solutions utilize both software and highly productized value-added services. Admicom's strong foundation in Finland and its extensive user base in the construction value chain provide an opportunity to build data driven, AI-powered automated models. At the same time, Admicom can act as a key ecosystem player in the vertical of the construction industry, providing customers with increasing added value through partnerships.
Understanding of the digitalisation needs of the construction industry, industry-specific operating models and selected software form the basis onwhich the company will start planning the internationalization for markets outside Finland immediately.
Execution in two phases
The 1-2-year first phase of the strategy period will build the necessary foundation for accelerating organic growth, data-driven operations and strong internationalisation. At this stage, the main focus is especially on improved service for a wide range of current customers, expanding the customers' range of solutions, and inimproving ease of use of solutions, and in increasing the data-based functionalities and the degree of automation of the solutions.
We expect the projected downturn in the construction industry to coincide with this first phase, during which we will build the foundation for strong organic growth as the recession eases. During this phase, we will increase our investments in growth projects, while constantly taking into account the market situation as the recession progresses.
In the second phase of the strategy period, a clearly stronger level of organic growth is sought from superior customer experience, synergistic sales work, diversifying solution offerings and international markets.
As part of limiting the Group's customer focus to the construction sector, Admicom is analysingthe separation of the current Admicom Finland's Industrial Division into its own independent company, whose support options for strategic growth will be explored during the rest of the year.
Acquisitions are still part of the company's toolbox and can be used to support internationalisation or to expand the company's solution offering for the digitalisation needs of construction customers.
Further information to follow on the Capital Markets Day
The company is currently assessing its investment needs and growth opportunities and will organise a Capital Markets Day (CMD) approximately on January 30, 2023. The CMD will go through the updated strategy and the market analysis behind it more extensively, as well as open up operational metrics and financial targets for the strategy period in more detail.
Admicom will hold a video conference call for analysts, investors and media regarding this strategy update on Thursday November 3, 2022 at 2 p.m. EET. Registration for the event is available at https://investors.admicom.fi/event-signup-2022-11-03/. Those who have registered will be provided with a link to the video conference by email.
This strategy update does not change the company's financial guidance for the current year. The company will publish its full-year financial statements approximately on January 13, 2023.
The strategy updates described in the release may require negotiations with the personnel, and therefore the changes are not final in this regard before the negotiations are concluded. The scope of the negotiations is not to reduce number of personnel.
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About Admicom Oyj
Admicom, established in 2004, is a Finnish forerunner and provider of cloud-based ERP solutions especially for small and medium-sized construction, building services engineering and manufacturing companies. Admicom's cloud-based ERP system Adminet efficiently automates the customer company's routines from site and production functions to office processes. Admicom also provides training, consulting, and accounting services.
Our subsidiary Tocoman Oy's software is one of the leading software solutions especially in the construction industry. Tocoman's cost calculation and production management software has a long history and a solid position on the market. By combining the strengths of Tocoman's software with the strengths of Adminet, the end result is clearly the most extensive cloud-based solution for the construction industry.
Our subsidiary Aitio Finland Oy provides its customers and Admicom Oyj with software solution development services, as well as related integration and maintenance services, mobile applications and cloud solutions. The subsidiary Hillava Oy develops and markets a cloud-based ERP system especially for field work planning and management. Lastly, our subsidiary Kotopro Oy develops browser-based documentation and information management software specifically aimed at the construction and real estate sector, which facilitates the everyday life of the construction site and improves the flow of information between the parties.
Admicom Oyj employs over 230 professionals in Jyväskylä, Helsinki, Tampere, Oulu, Seinäjoki and Turku. Further information: https://investors.admicom.fi/
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