NORDECON INTERNATIONAL AS
Pärnu mnt 158/1, 11317 Tallinn
Phone: +372 615 4400
Fax: +372 615 4401
E-mail: nordecon@nordecon.com
Pärnu mnt 158/1, 11317 Tallinn
Phone: +372 615 4400
Fax: +372 615 4401
E-mail: nordecon@nordecon.com
The Group´s development strategy for 2009-2013 is to improve operating efficiency and to sustain internationalisation.
To achieve the goals, management has allocated the desired objectives and the activities required for achieving them to specific time periods:
•2009-2010
•2011-2013
More here:
Nordecon strategy 2009-2013_PPRevision of the Group’s strategy for 2009-2010 and the ultimate strategic goal:
The Group’s business strategy for 2009-2010 foresaw, among other things, acquiring new companies in selected markets and developing existing ones. The Group has practically suspended its operations in Lithuania because in the current market situation there are not enough attractive buildings construction contracts on offer that would suit a company involved in project management. For the same reason, the Group does not intend to acquire any new entities in the above period.
Owing to an adverse economic environment, the Group’s management has also decided to suspend dynamic expansion in Latvia and Ukraine. Instead, the main efforts in those countries will be aimed at cost-cutting and other measures relevant to responding adequately to declining volumes and margins. In both Latvia and Ukraine, the construction market slump has made winning new contracts extremely complicated and the private sector customer base has become almost nonexistent. Therefore, the main task for Group entities is to align their structure so that they could effectively manage their costs while maintaining readiness for re-launching construction operations as soon as the market situation improves. The Group is currently not involved in any active real estate projects outside Estonia.
The Group’s management is of the opinion that the situation in foreign markets may improve more slowly than anticipated and, consequently, attainment of the strategic goal of increasing the revenue earned outside Estonia to roughly 50% of the total by 2013 will be increasingly difficult. At the date of release of this report, the Group’s council has not approved any changes to the Group’s development strategy for 2009-2013.
Accordingly, in 2009-2010 the Group’s management will concentrate on consolidating all the positions the Group has achieved over the years in the Estonian market.