New financial goals from Lamor – a turnover of more than 250 million euros in Kiikari


Environmental service company Lamor aims to increase its turnover to more than 250 million euros in the period 2023–2025 and increase the adjusted operating profit percentage to more than 14 percent, according to the company’s new long-term goals.

In addition, the company aims to achieve a financial position suitable for the risk profile of the business through a strong balance sheet.

Lamor did not update its dividend policy. The company aims to distribute an annual dividend, however, considering business growth as its most important goal.

Previously, in terms of growth, Lamor aimed to increase turnover to more than 100 million euros as soon as possible, as well as annual growth significantly faster than market growth after reaching this level.

In terms of profitability, in addition to an operating profit margin of more than 14 percent, the goal was an EBIT margin of more than 16 percent. However, the company has not reached these goals.

The targeted turnover level of 100 million euros will be exceeded this year, because after January–September, Lamor already had a turnover of 99.7 million euros. The company’s operating profit percentage was about nine percent.

Partner network at the center of the strategy

In connection with the financial goals, Lamor published its updated strategy.

According to the company, the cornerstone of the strategy is Lamori’s unique partner network model that works locally and globally. Lamor operates in several countries, where local partners are supposed to enable rapid scaling of the business.

Managing director Mika Pirneskoski according to Lamor, the growth prospects are good, especially in the Middle East. In addition to this, the company plans to invest especially in the South American market.

“We have already made significant growth investments in, for example, our staff during 2022 and identified a significant number of new potential projects that will allow us to clearly grow our business in the coming years,” says Pirneskoski.

In addition, Lamor plans to expand into three new markets during the strategy period and win five new projects of significant size. The goal is also to build a project portfolio of 100 thousand tons of recycled plastic.


Source: Arvopaperi by www.arvopaperi.fi.

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