Revenio Group Corporation STOCK EXCHANGE RELEASE 30.5.2012 at 1.00 p.m.
CHANGES IN THE MANAGEMENT, ORGANISATION AND OPERATIONS OF DONE LOGISTICS OY
Done Logistics Oy, a subsidiary of Revenio Group Corporation in its Systems segment, will implement changes in its operating model and organization, in order to adjust to continuously low demand. These changes are aimed at significantly reduce fixed costs. In essence, changes in the operating model involve placing a focus on core competences, such as system development. In the future, smaller wholes and services needed to complete projects will be increasingly bought in from external suppliers.
The employment contracts of 25 employees will be terminated as part of the revamp, and a new President and CEO will be appointed. Riku Lamppu, the CEO of Midas Touch Oy, has been named acting Managing Director in addition to his own position.
The terminations and the reorganization will result in non-recurring costs of around EUR 1.2 million in the Group's results in Q2/2012.
These arrangements will not affect the Group's previously announced profit guidance for 2012.
Revenio Group Corporation
Olli-Pekka Salovaara
President and CEO
For further information, please contact:
Olli-Pekka Salovaara, President and CEO, mobile +358 (0)40 5675520
olli-pekka.salovaara@revenio.fi
http://www.revenio.fi
DISTRIBUTION:
NASDAQ OMX Helsinki
Financial Supervisory Authority (FIN-FSA)
Key media
www.revenio.fi
Revenio Group Corporation, the parent company of the Finnish conglomerate Revenio Group is listed on the NASDAQ OMX Helsinki. Revenio's subsidiaries focus on providing advanced Finnish specialist expertise and export-based operations.
Revenio Group consists of six independent subsidiaries in five business segments. These subsidiaries are Done Logistics Oy, Done Software Solutions Oy, Icare Finland Oy, Boomeranger Boats Oy, FLS Finland Oy and Midas Touch Oy.