Eastern European Markets

March 16th, 2009

Lindström’s turnover increased by 10 percent

Lindström Group’s turnover increased by 10 percent in 2008 and was 251 million euros. In addition to the mother company Lindström Oy, the subsidiaries in 18 countries have developed well although the local currencies in many countries suffered from the economical crises. Lindström employed by the end of year 2008 over 2400 people of which 45 percent outside of Finland.

The group profit was 18.8 million euros. The result was weakened compared to last year because of currency lost related to internal financing as the Euro increased strongly its value compared to many currencies at the end of year 2008.

Significant investments

The net investments of the group were over 20 million euros. During the financial year 2008 the group has continued the IT-development invested into to new service centre in Finland. In addition, money was invested in St Petersburg in Russia, Estonia, Lithuania, Romania, Turkey, and Ukraine. An enlargement in Slovakian Trnava was accomplished during 2008. In addition, new service centres were founded in Beijing, and Mumbai. The company also decided to establish operations in Bulgaria.

The group solvency remained good during the whole financial year.

Future outlook

Due to the economic downturn, the turnover growth is estimated to be slower compared to FY 2008. The Lindström Group profitability is estimated to remain at a good level. The investments in 2009 will remain significantly smaller than last year.

Competition is increasing in all market areas. Due to its unique service concept and by increasing productivity and cost-efficiency Lindström will maintain its strong market position in all countries of operations.

About Lindström
Lindström is a global partner that increases its client’s image through textiles and cleanliness. Lindström Group operates in 19 countries in Europe and Asia. Lindström is a family owned Finnish company that was founded in 1848.

For further infomation
CEO Juha Laurio, Lindström Group
Tel. +358 (0)40 501 6299

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