Pöyry PLC announces new vision and realigns its structure
(Thomson Reuters ONE) - PÿYRY PLC Company Announcement 2 December 2009 at 8.30 a.m.Pöyry's new vision is to become "the global thought leader inengineering balanced sustainability for a complex world". The companyintends to be an agenda setter in this respect in the sectors itserves.Pöyry will realign its business structure to better enable the newvision. At the same time, Pöyry announces its management teameffective 1 January 2010.The new vision is driven by the major challenges that Pöyry's clientswill face. Urbanization and population growth, shift in economicbalance, environmental degradation and redirection of technologicalinnovation will have a major impact on global demand and clients'businesses. Pöyry sees growth opportunities created by these driversand therefore directs its service offerings and business structureaccordingly. Pöyry targets at accelerating profitable growthorganically and through acquisitions aligned with its vision.Pöyry's new business groups and managementRichard Pinnock, currently President of the Energy business group,has been appointed Executive Vice President, Group Strategic Growth.He will be responsible for enhancing Pöyry's world-wide capabilitiesto develop and execute large projects and scopes where Pöyry sees amajor growth potential, as well as for strategy development,including mergers and acquisitions.Energy business group: The Energy business group's offerings willcover diverse energy-related projects and technical advisoryservices. The business group focuses in the areas of hydropower,renewable energy, thermal power, oil and gas, nuclear energy andtransmission and distribution. Future focus is on projects andtechnologies which help to improve energy efficiency and mitigateenvironmental impacts in a sustainable way. Ari Asikainen, currentlyPresident of the Construction Services business group, has beenappointed President of the Energy business group.Industry business group: The current Forest Industry business groupwill be renamed the Industry business group. The business group willmaintain its strong focus on forest industry to ensure its globalmarket leadership in the pulp and paper sector. In addition, it willaccelerate its expansion to other areas of industrial processes andfacilities such as chemicals. The Industry business group will investin the development of a more complete offering covering resourcessuch as biomass, biofuels and biomass-based chemicals. Martin Kuzaj,currently President of the Forest Industry business group, has beenappointed President of the Industry business group.Urban and Mobility business group: The Transportation andConstruction Services business groups will be merged into the Urbanand Mobility business group. With this integration Pöyry strengthensits ability to respond to the increasing need for solutions driven bypopulation growth and urbanisation. This new business group willcontinue to operate in the areas of real estate development,construction management, rail, urban mass transportation andmotorways. It will offer clients leading-edge sustainable solutionsfrom planning through to project realisation. Synergetic benefits inareas such as urban development, construction management and buildingdesign will be exploited using the global platforms of this newmerged business group. Andy Goodwin, currently President of theTransportation business group, has been appointed President of theUrban and Mobility business group.Water & Environment business group: The Water & Environment businessgroup will spearhead Pöyry's vision to become a leading serviceprovider for the entire water cycle and to mitigate environmentaldegradation. The Water & Environment business group will focus onwater supply and sanitation, water resources management, geosciences,and environmental services. Bernd Kordes will continue as Presidentof this business group.Management Consulting business group: Pöyry will form the ManagementConsulting business group by merging the existing managementconsulting businesses in the Forest Industry and Energy businessgroups. They currently employ around 450 management consultants intotal. The target is to double the size of the business in about fiveyears and to expand management consulting services into areas thathave synergies with the rest of the Pöyry Group. The President of thebusiness group will be announced later. In the interim, Bernd Kordeswill assume the role besides his other duties.Anne Viitala has been appointed Executive Vice President, Legal andCommercial. She continues to be responsible for legal affairs andrisk management, but will also take a leading position in Group levelcommercial transactions.The new business groups and the appointments will come into effect asof 1 January 2010. Pöyry's periodic reporting for Q1 2010 will beprepared and presented based on the new business group structure. Proforma figures covering previous years will be submitted by the end ofMarch 2010.After these appointments, Pöyry's Executive Committee members as of 1January 2010 will be:- Heikki Malinen, President and Chief Executive Officer- Ari Asikainen, Executive Vice President (EVP) and President, Energybusiness group- Martin Kuzaj, EVP and President, Industry business group- Andy Goodwin, EVP and President, Urban and Mobility business group- Bernd Kordes, EVP and President, Water & Environment business group(also acting President, Management Consulting business group)- Esa Ikäheimonen, Chief Financial Officer- Richard Pinnock, EVP, Group Strategic Growth- Camilla Grönholm, EVP, Human Resources- Anne Viitala, EVP, Legal and CommercialVision impact on Pöyry offerings and geographical focusThe new vision will drive Pöyry's offerings and the company willsharpen its focus on larger projects, management consulting,cost-effectiveness in detail engineering and core geographicalmarkets.Large projects: Pöyry has over the past several years been successfulin executing large EPCM (engineering, procurement and constructionmanagement) projects predominantly in pulp and paper and variousenergy areas. Additionally, medium size EPC (engineering, procurementand construction) projects have been successfully executed in energy.Pöyry is well-positioned to boost revenue and profitability bygrowing its involvement in projects in the EUR 1 billion to 2 billioninvestment range and above with a larger Pöyry share and scope. Thefocus will primarily be on EPCM projects, but Pöyry will graduallyexpand its EPC projects where value can be added to our clients, andrisks effectively managed in line with the company's financial andother capabilities. The company will differentiate through offering"packaged" total solutions, integrating project management,construction and procurement management and management of balancedsustainability with cost competitive engineering services. Pöyry willinvest in further developing the necessary competences and tools toenable this strategic growth. Targeted acquisitions may also be usedto accelerate the capture of these competences and skills.Management consulting services: Pöyry has a strong position inproviding management consulting services to energy and forestindustry clients. Clients will face challenges to balance complex andcontroversial aspects in their operations and this will increase thedemand for advisory services especially in strategy, public policy,sustainability, product markets, M&A and performance improvement.Bringing the management consulting activity together into onebusiness group will strengthen the value of the Pöyry brand in thefield of consultancy, create critical mass and attract more talentinto this growing business.Geographic focus: Pöyry has also revisited its geographical focus.The company intends to offer its full package of services toestablish a strong, long-term position in countries that will offerthe best growth opportunities. These core markets will includeselected emerging markets, especially Brazil, Russia and Asia. Pöyrywill continue to consolidate and strengthen its position in itstraditional core markets such as Central and Southern Europe, in acombination that optimises profitability and growth. In the future,Pöyry will add countries to its core markets where it seesopportunities to increase its offering.Accelerated growth and profitabilityPöyry targets an average annual long term growth of 15 per cent. TheGroup repeats its earlier operating profit margin target for eachbusiness group of minimum 8 per cent in the medium term and 10 percent in the long term, which it will achieve assuming relatively fastrecovery of the global economy from the present recession. Keycomponents in improving profitability are the move towards highervalue activities such as project management and managementconsulting, and increased efficiency leading to lower relative fixedcosts."We aim to be one of the world's leading consulting engineeringcompanies by 2020. Selected new business sectors, stronger focus,management consulting, larger projects and excellence in design andexecution are in the forefront in achieving our growth andprofitability targets. As a thought-leader and agenda setter, andthrough investments in developing our future capabilities, we will beable to offer very exciting professional opportunities to bothcurrent and future staff. Added with exceptional customer intimacy,this vision will position us well in the changing market and respondto the clients' increasing needs regarding sustainability", commentsHeikki Malinen, President and CEO, Pöyry PLC.Pöyry is a global expert in consulting and engineering. We offer ourclients in-depth industry expertise, innovative solutions andlifecycle engagement. Our knowledge extends across hydropower, oiland gas, power and heat, renewable energy, pulp and paper industry,chemical process industry, transportation, water and environment, andconstruction services. We have about 7000 experts in 49 countries.PÿYRY PLCHeikki MalinenPresident and CEOTeuvo SalminenDeputy to President and CEOAdditional information by:Heikki Malinen, President and CEO, Pöyry PLCTel. +358 10 33 21307Teuvo Salminen, Deputy to President and CEO, Pöyry PLCTel. +358 10 33 22872www.poyry.comPress conferenceA press conference in Finnish will be held on Wednesday, 2 Decemberat 12.00 Finnish time at Hotel Klaus K's Ahjo conference room atBulevardi 2/4, Helsinki. The conference will be hosted by HeikkiMalinen, President and CEO of Pöyry, who will present the new visionand the new business structure.DISTRIBUTION:NASDAQ OMX HelsinkiMajor mediaThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 02.12.2009 - 07:32 Uhr
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