The Board of Director?s of Lassila & Tikanoja Oyj (HLSE:LAT1V) has completed a review of the company?s strategy. According to the revised strategy, Environmental Services and Industrial Services divisions will seek growth especially by focusing on business opportunities related to circular economy of materials. The company seeks to grow in these areas organically, potentially supported by selective acquisitions.

?Mitigating climate change and biodiversity loss requires actions supporting circular economy from the society and all companies, and this offers opportunities for L&T. We need new solutions to improve the recycling rate and increase the material value of waste and restore contaminated land areas.? says Eero Hautaniemi, CEO of Lassila & Tikanoja. The revised strategy will be presented in more detail in L&T?s Capital Markets Day to be held on 23 November 2023.

Evaluation of strategic alternatives for Facility Services Finland and Facility Services Sweden will be started. Following the strategy review, the Board of Directors has on October 25, 2023 decided to initiate an evaluation of strategic alternatives for Facility Services Finland and Facility Services Sweden divisions as a part of the development of L&T?s business portfolio. All potential options will be considered, including a potential sale of the divisions.

Facility Services Finland develops the value its customers? properties with cleaning, property management and technical services. Facility Services Sweden offers cleaning and technical services to its customers.

Net sales in Facility services Finland were EUR 256 million and in Facility services Sweden EUR 140 million in 2022. ?L&T?s facility services divisions in Finland and Sweden are significant size businesses in terms of net sales with strong market positions in sizeable markets. Now is a good time to evaluate the next step to develop the businesses and create value.?, says Hautaniemi.

The evaluation will not have any immediate impact on Facility Services? daily business operations or customer work. Lassila & Tikanoja expects to conclude the strategic assessment by the end of year 2024.

There is no certainty whether the assessment will result in any transactions and Lassila & Tikanoja will provide updates on the progress of the evaluation if, and when, appropriate.