Tecnotree Launches Global Cost Efficiency Program to Drive Operational Excellence

Tecnotree Corporation Stock Exchange Release 28 March 2024 at 11:00 EET

Tecnotree (TEM1V.HE), a global digital platform and services leader for AI, 5G, and cloud-native technologies, announces the initiation of a global cost efficiency program aimed at enhancing operational effectiveness and maximizing shareholder value and maintaining investments.

As previously announced in the 2023 financial report the company will embark on a global initiative targeting significant cost optimization across its operations. This program will encompass locations in the USA India, and Finland, optimizing production processes and streamlining activities to achieve greater efficiency and competitiveness in the market. The targeted efficiency improvements are expected to yield between 5 to 7 percent annual savings with full effectiveness anticipated by 2025. These savings will be achieved through a combination of streamlined operations, enhanced productivity, and optimized resource utilization.          

We would like to clarify that this release does not change the previously announced profitability forecast. The cost efficiency program is part of our ongoing efforts to enhance operational effectiveness and is in line with our long-term financial objectives.