VMP changes name to Eezy and publishes a new strategy for 2020-2022

VMP PLC  --  COMPANY ANNOUNCEMENT  --  20 NOVEMBER 2019 at 8:00

VMP changes name to Eezy and publishes a new strategy for 2020-2022

The new brand supports the company’s mission to fulfil working life dreams while aiming for market leader position.

The new name of VMP is Eezy. As a result of the merger with Smile and previous acquisitions, the company previously known as VMP has operated under several simultaneous brands until now. The goal of the name renewal is to combine all services under one brand, Eezy, thus supporting integration. The decision on the new name, Eezy Oyj, will be made at the extraordinary general meeting in December.

The brand Eezy has previously been in the use of our self-employment services.

Eezy’s services include staffing, recruiting, organizational development, and self-employment services. These diverse services make us a significant actor in the Finnish labor market. Through us, approximately 30,000 people are employed every year, and we serve thousands of companies.

Mission is to fulfil working life dreams – aiming for market leadership by 2022

VMP’s Board of Directors has approved the new strategy for 2020-2022. The strategy is based on trends that drive staffing services, such as labor shortages and the need for more flexible work. It also addresses the need to prepare the company, built through several mergers and acquisitions, to meet the potential the currently fragmented market offers.

Eezy’s mission is to fulfil working life dreams. Eezy’s vision is to be the most significant actor in Finnish employment and working life, together with its employees and clients. As a strategic goal, this means market leadership in Finland by 2022.

Bringing together employers and employees is a fast-growing billion-euro business where a holistic approach is the key. In Eezy’s view, the winning company in this business is the one that is able to be the most convenient partner in different phases of careers and businesses, offers the most versatile services through a nationwide service network, and builds inspiring workplaces.

The new strategy aims to strengthen these success factors in order for Eezy to reach market leader position through faster-than-market organic growth, and through business acquisitions – while aiming to ensure continued improvement of our good profitability.

To meet these goals, Eezy will focus on the following key actions during the strategy period 2020-2022:

1. Integration: The integration year 2020 sets the ground for future growth and the development of good profitability
   • Eezy combines all of the company’s services under one name. One brand and the focusing of all marketing communications under this shared brand will reinforce awareness among employees, customers and other stakeholders
   • The remaining predicted cost synergies should be reached during the years 2020-2021 when the harmonization of IT systems and processes and the implementation of best practices proceed
   • The scalability of fixed costs increases through growth
     
      
2. Growth: Growth and strengthening of market position in all businesses
   • Consolidation of the fragmented market, also through acquisitions
   • Expanding the service offering
   • More efficient cross-selling of services under different businesses
   • Eezy to become the most attractive brand and partner in the industry
     
      
3. Doers’ decade: The well-being of the work community and the individual are key to success
   • Increasing freedom and easiness in work and in applying for work, through digitalization and automation, for example
   • Developing personal and individual services and skills
   • Working toward a positive and respectful work community

Along with the new strategy, Eezy is considering moving to IFRS reporting standards, which would also result in the re-evaluation of the long-term financial targets. The current long-term financial targets remain valid for now.

“Through our name change and new strategy we get to jumpstart a new decade, the doers’ decade. We are one of Finland’s largest employers and, with our diverse services, a significant part of the Finnish labor market. Together with our 400 professionals, we promise to fulfil the dreams of our employees and clients. Courage and professional skill in working positively and respecting diversity are at the heart of everything we do. The staffing services market is a growing billion-euro business, where we want to lead the way. For the past 30 years we have succeeded in the ever-changing working life, and we intend to continue on this path,” says CEO of Eezy, Sami Asikainen.

More information:

Sami Asikainen

CEO



Tel. +358 (0)40 700 9915

Hannu Nyman

CFO



Tel. +358 (0)50 306 9913

Certified adviser:

Danske Bank A/S, Finland Branch, tel. +358 (0)10 546 7934