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2013-11-07 08:05:00 CET 2013-11-07 08:05:37 CET REGULATED INFORMATION Tikkurila Oyj - Company AnnouncementTikkurila's segment reporting structure to change from the beginning of the year 2014Tikkurila Oyj Stock Exchange Release November 7, 2013 at 09:05 a.m. (CET+1) 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. Tikkurila Oyj CFO Jukka Havia For further information, please contact: Tikkurila Oyj Jukka Havia, CFO, mobile +358 50 355 3757, jukka.havia@tikkurila.com For 150 years already, Tikkurila has provided consumers and professionals with user-friendly and sustainable solutions for surface protection and decoration. Tikkurila wants to be the leading paint company in the Nordic area as well as in Russia and other selected Eastern European countries. - Tikkurila inspires you to color your life. www.tikkurilagroup.com [HUG#1741147] |
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