Skip to main content

Uponor updates the savings target and schedule of its operational excellence programme

Written by Customer Service on . Posted in Public Companies.

Uponor Corporation     Investor news      5 May 2021     07:50 EET
 

Uponor updates the savings target and schedule of its operational excellence programme

Uponor communicated in its financial statements bulletin on 11 February that its operational excellence programme is progressing as planned and has yielded, as scheduled, its first results during 2020.

“We are satisfied with the progress of the programme and expect that we will reach the original €20 million target of annual savings by the end of this year as planned. At the same time, we want to utilise the full savings potential identified during the planning and implementation of the programme and therefore extend the duration of the programme until the end of the first half of 2022 to generate €25 million annual savings in total,” comments Jyri Luomakoski, President and CEO, Uponor Corporation.

The main initiatives of the operational excellence programme relate to Building Solutions – Europe segment and Group functions and aim to improve efficiency through reducing complexity and overlapping tasks as well as harmonising processes. Uponor extends the schedule of the programme until the end of the first half of 2022 and raises the savings target to €25 million. One-time costs of the full programme are estimated to be around €22 million, of which €11.8 million was already expensed in the end of 2020. The costs are recorded as items affecting comparability.

Uponor announced its operational excellence programme originally on 25 October 2019. The earlier target of the programme was €20 million annual cost savings by the end of 2021. The one-time costs of the programme were estimated to be around €20 million.

Uponor continues to follow the progress of the programme in its interim reports.

Uponor Corporation

Susanna Inkinen
Vice President, Communications and Corporate Responsibility
Tel. +358 20 129 2081

DISTRIBUTION:
Nasdaq Helsinki
Media
www.uponorgroup.com

Uponor in brief
Uponor is rethinking water for future generations. Our offering, including safe drinking water delivery, energy-efficient radiant heating and cooling and reliable infrastructure, enables a more sustainable living environment. We help our customers in residential and commercial construction, municipalities and utilities, as well as different industries to work faster and smarter. Uponor employs about 3,700 professionals in 26 countries in Europe and North America. In 2020, Uponor’s net sales totalled approximately €1.1 billion. Uponor Corporation is based in Finland and listed on Nasdaq Helsinki. www.uponorgroup.com

 

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.