The Avensia Board of Directors has decided to incorporate the current business areas, Commerce and Information Management. These will henceforth be operated as two independent subsidiaries.
There are several reasons behind this decision:
- To create optimal conditions for each business to develop in terms of offerings, sales, and customer focus
- To provide visibility into each business’s financial development
- To create flexibility regarding strategic options to enhance shareholder value
- To optimize conditions for achieving Avensia's financial goals
In connection with this change, a review of overhead and costs has been conducted. This review has led to savings equivalent to 8-10 MSEK annually, of which 4-5 MSEK will be reserved as restructuring costs in the company's Q4 report.
The future group structure will be implemented during the remainder of the year and will be fully effective from January 1, 2025. For reporting purposes, the new structure will apply from Q1 2025 and will be reported as three segments: Commerce, Information Management, and Holding. The Holding segment will contain central functions connected to Avensia as a public company. In terms of revenue, Commerce constitutes about 80% and Information Management about 20% of Avensia’s current business.
"After many challenging years – starting with the pandemic in 2020 – we have successfully developed two business areas within Avensia: Commerce and Information Management. The time is right to highlight these areas and provide each with the optimal conditions to develop further, focusing on creating additional customer value," says CEO Robin Gustafsson.
- "Given the business development we have seen in recent years, this feels like a natural step to take. We are creating more transparency around each part, giving us great flexibility for the future in terms of strategic decisions, all with the aim of enhancing shareholder value," says Chairman of the Board Anders Wehtje.
Henrik Sellberg, a long-standing leader of the Commerce business area, will be CEO of Commerce. Robin Gustafsson will be CEO of Information Management and will also remain in his role as CEO of Avensia AB.
Avensia Commerce is a leading advisor and provider of e-commerce solutions to the Scandinavian retail market and its distribution chains. Avensia Information Management provides consulting and systems for managing product information and other master data. Its customers are in retail, construction, and other distribution companies.
This is a translation of a previously published press release in Swedish.
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