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| Tikkurila announces new reporting structure Tikkurila Oyj's Board of Directors has decided to change the external reporting structure of the company. As of January 1, 2014, Tikkurila's reporting will be divided into the following two reporting segments based on geography, instead of the previous four: SBU West consists of Sweden, Denmark, Norway, Finland, Poland, Germany, Estonia, Latvia, and Lithuania. SBU East consists of Russia, Central Asian countries, Ukraine, Belarus, Serbia, Macedonia, and China. Furthermore, this SBU is responsible for the exports to approximately 20 countries. The change in reporting structure will have no effect on the organization of Tikkurila's business operations. "The new reporting structure better supports developing our business operations, implementing our growth strategy, and taking EU legislation into consideration. Legislation is one of the key factors affecting our product development, production, and logistics function, " says Erkki Järvinen, President and CEO. The new SBU West business unit accounted for less than 60 percent and the new SBU East for more than 40 percent of the full-year 2012 revenue. The first interim report based on the new reporting structure will be published on May 8, 2014 (interim report for January-March 2014). The pro forma figures of the new business units will be published prior to the disclosure of the first quarter interim report. write your comments about the article :: © 2013 Construction News :: home page |