EEZY PLC -- STOCK EXCHANGE RELEASE -- 15 FEBRUARY 2024 AT 8:01
Eezy’s renewed strategy and long-term financial targets - we focus on building a good working life with the goal of profitability leap
Eezy Plc’s board of directors has approved the company’s updated strategy and long-term financial targets for 2024-2028. With the new strategy, Eezy focuses on services related to its customers' personnel, leadership, and corporate culture. Company seeks revenue and profitability growth especially from the use of technology and artificial intelligence in the Staffing Services business area.
Eezy’s long-term targets for the strategy period aim for profitable growth. In Staffing services, Eezy seeks faster revenue growth than the staffing market. For the Professional Services business area, the goal is to double revenue from the 2023 level by the end of the strategy period.
Eezy also aims to improve its profitability remarkably and to achieve an 8% operating profit (EBIT) margin by the end of the strategy period. Improving profitability is based on leveraging the economies of scale brought by revenue growth, increasing productivity through the utilization of technology and artificial intelligence, and enhancing efficiency through stronger productization of services.
Eezy’s long-term targets for the strategy period 2024-2028
- Faster revenue growth in Staffing business area than the staffing market growth
- Doubling the revenue of the Professional Services business area from the 2023 level
- Operating profit (EBIT) margin 8 per cent in 2028
Eezy’s goal is to continue to distribute 30-50 percent of the annual result as dividends. Related to year 2023, no dividend distribution is proposed.
“Eezy is greater than the sum of its parts: we have a wide national presence and a range of services to build good working life with our customers. We have identified significant growth potential in both our existing businesses and new industry openings in staffing, such as the social and health care and office work sectors. Our goal is to improve our profitability in addition to the scale benefits of growth by harnessing technology and artificial intelligence widely in our various services. In particular, the new Staffing services resource planning system that utilizes artificial intelligence gives us a significant efficiency benefit,” says Siina Saksi, CEO of Eezy Plc.
Sources of growth include scaling existing services and new business openings
Target for the strategy period is to grow faster than the market in the company’s largest business area Staffing Services, and to double the revenue of the Professional Services business area. Five areas have been identified as the most important sources of growth.
Leveraging nation-wide strenght. With a nationwide network of offices and franchise-entrepreneurs, the company sees significant growth opportunities in the construction and industry sectors, regionally unevenly grown retail and horeca sectors, as well as in services currently offered limited outside the capital area, such as personnel assessment and executive search.
Increasing productivity by use of technology and AI. Eezy’s growth and efficiency improvement are supported by significant investments in the use of technology and artificial intelligence. The development project of the resource planning system in the Staffing business area scales operations and productivity, improves delivery reliability and speed, which gives the company a clear competitive advantage and growth opportunities especially in fast-paced industries such as the horeca and retail sectors. The use of technology and artificial intelligence creates significant growth and productivity opportunities for other services as well.
Social and health care and office industries’ staffing. The company’s goal is to expand its Staffing services business more strongly in the social and health care and office work sectors during the strategy period. These sectors are less cyclical than many other staffing sectors, such as construction or industry.
Increasing efficiency by conceptualization and productization of services. By productizing and conceptualizing its services more effectively, Eezy estimates that it can increase its market share in the needs of its customers’ HR and growth related strategies and improve its efficiency and profitability.
Scaling of foreign labor. With the labor shortage, our society needs workers also from outside the national borders. Eezy intends to strengthen the recruitment of foreign labor during the strategy period.
Eezy aims for primarily organic growth during the strategy period, but growth can also be supported by acquisitions that support the strategy.
Mission to build good working life
Eezy is a significant and responsible societal actor in Finland. A growing private sector, high employment and solving the labor shortage are vital conditions for the Finnish welfare society. Eezy helps its customers succeed in their business by recruiting skilled workers flexibly, researching and developing employee experience and leadership, and designing corporate cultures that support companies’ strategy. Our mission is to be a maker of a good working life.
EEZY PLC
Further information:
Siina Saksi
CEO
siina.saksi@eezy.fi
tel. +358 50 550 3912
Marleena Bask
Communications and Marketing Director
marleena.bask@eezy.fi
tel. +358 50 352 3643
Eezy Plc plans to organize a capital markets day on 29 May 2024. At the event, Eezy’s management will provide more details on the company’s business and updated strategy. The exact program of the capital markets day will be announced later.
Eezy Plc is Finland’s widest expert on working life, whose mission is to be a maker of good working life. We serve our customers in staffing, corporate culture design and leadership development, recruitment, employment services, light entrepreneurship, and personnel surveys. We know the pulse of Finnish work life because we employ about 25,000 people annually, carry out 1000 organizational development projects, analyze 200,000 personnel survey responses and conduct 2 300 person assessments. Eezy’s share is listed on the main list of the Helsinki Stock Exchange. Eezy - long live life and work. www.eezy.fi
