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L&T to revise its segment structure and composition of Group Executive Board

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Lassila & Tikanoja plc
Stock exchange release
26 February 2019 8.00 am

L&T to revise its segment structure

L&T clarifies its segment structure from 1 January 2019 onwards. Lassila & Tikanoja’s new structure consists of four reporting segments: Environmental Services, Industrial Services, Facility Services Finland and Facility Services Sweden. With this change, Lassila & Tikanoja aims to improve utilization of the mutual synergies of the business based on material streams as well as the synergies of the business linked to real estates and the country-specific growth opportunities.

In Finland, Technical System Services will be included in the current Facility Services segment. For Sweden, the Technical Services business and cleaning business will be merged into new reporting segment. Renewable Energy Sources will be merged with the Environmental Services segment.

The interim report for the first quarter of 2019 will be prepared in accordance with the new reporting structure.

Lassila & Tikanoja will publish the comparable data of its reporting segments from 2018 before the publication of the Q1/2019 interim report.

Changes in Group Executive Board

Tuomas Mäkipeska has been appointed Vice President, Facility Services effective 26 February 2019 onwards. Mr. Mäkipeska will act as Vice President at least until the end of 2019. Mr. Mäkipeska has worked as the Group CFO since 2017.

Erik Sundström has been appointed Vice President, Facility Services Sweden and a member of the Group Executive Board effective 26 February 2019 onwards. Mr. Sundström has acted as Business Director, Maintenance of Technical Systems, Sweden since 2017.

Juha Jaatinen has been appointed the acting Group CFO and a member of the Group Executive Board. Previously in his career, he has worked, e.g. as the CFO of Okmetic Oyj.

Group’s General Counsel Sirpa Huopalainen has been appointed a member of the Group Executive Board effective 26 February 2019 onwards. She has acted as the Group General Counsel since 2012.

Tutu Wegelius-Lehtonen, who has been in charge of the Facility Services sector, has left the company effective 25 February 2019 onwards.

Lassila & Tikanoja Plc’s Group Executive Board from 26 February onwards:

- Eero Hautaniemi, President and CEO

- Sirpa Huopalainen, General Counsel

- Juha Jaatinen, acting CFO

- Kirsi Matero, HR Director

- Jorma Mikkonen, Director, Corporate Relations and Responsibility

- Tuomas Mäkipeska, Vice President, Facility Services​​ Finland

- Petri Salermo, Vice President, Environmental Services

- Erik Sundström, Vice President, Facility Services Sweden

- Antti Tervo, Vice President, Industrial Services


Eero Hautaniemi
President and CEO

Additional information:
Eero Hautaniemi, President and CEO, tel. +358 10 636 2810

Lassila & Tikanoja is a service company that is putting the circular economy into practice. Together with our customers, we keep materials and properties in productive use for as long as possible and we enhance the use of raw materials and energy. We help our customers maintain the value of their properties and materials while protecting the environment. We achieve this by delivering responsible and sustainable service solutions that make the daily lives of our customers easier. We operate in Finland, Sweden, and Russia. L&T employs 8,600 people. Net sales in 2018 amounted to EUR 802.2 million. L&T is listed on Nasdaq Helsinki.

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