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Lassila & Tikanoja (LAT1V) investor relations material
Lassila & Tikanoja CMD 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.CMD 2025 summary26 Nov, 2025
Strategic rationale and business transformation
Demerger aims to enhance management focus, accelerate growth, improve transparency, and unlock shareholder value by creating two independent companies, each with a clear strategic direction.
Lassila & Tikanoja will become a pure-play circular economy leader, while Luotea will focus on facility services, both targeting improved performance and growth.
Shareholders will receive shares in both new entities, with the demerger expected to complete by year-end and trading of new shares to begin in January 2026.
Lassila & Tikanoja: Circular economy growth strategy
Holds a leading market position in Finland with a 20% share and a strong presence in Sweden, focusing on waste management, recycling, hazardous waste, and industrial services.
Targets over 6% annual sales growth and an 11% EBITA margin, supported by a unique end-to-end service platform and a robust balance sheet.
Growth pillars include cross-selling, Swedish market expansion, and deeper integration in the waste-to-value chain, with both organic investments and bolt-on acquisitions.
Sustainability is central, with a net zero target by 2045 and a focus on increasing customer recycling rates to 70% by 2030.
Market trends and regulation favor recycling and reuse, with ongoing investments in digitalization, IT infrastructure, and treatment capacity to support scalability and efficiency.
Financial performance and guidance
Lassila & Tikanoja reported 2024 net sales of EUR 424 million, adjusted EBITDA of EUR 86 million (20% margin), and a return on capital employed of 14%.
68% of revenue comes from long-term contracts, with a stable and resilient business model and strong cash flow generation (EUR 40 million free cash flow in 2024).
Dividend policy is to pay at least 50% of net income, with leverage targeted between 1.5x and 2.5x.
Capital allocation prioritizes both organic and inorganic growth, with a healthy pipeline of acquisition targets and ongoing investments in technology and capacity.
Explain the 23.3M goodwill impairment
Are 'Other items' truly non-recurring?
Future outlook for lease payments?
Quantify expected efficiency gains from IT/process
Strategy to overcome waste-to-value tech hurdles?
How to capitalize on market consolidation from municipalization?
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Next Lassila & Tikanoja earnings date
Q4 202513 Feb, 2026
Next Lassila & Tikanoja earnings date
Q4 202513 Feb, 2026
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Frequently asked questions
Lassila & Tikanoja Oyj is a Finnish company that specializes in environmental management and property maintenance services. It operates across several business segments, including Environmental Services, which focuses on waste management, recycling, and hazardous waste disposal, and Industrial Services, which offers process cleaning and sewer system maintenance. The company also provides facility services, such as cleaning, energy management, and property maintenance, in Finland and Sweden. The company is headquartered in Helsinki, Finland, and its shares are listed on the Nasdaq Helsinki.
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