On 3 September 2013, the Board of Directors of Sponda Plc confirmed the company's new strategy. The main goals of the strategy are simplification of the business structure, more focused property ownership and profitable growth.
Focal points for growth will be office properties and shopping centres and property development serving these segments. As for areas, Sponda will focus on prime areas in the Helsinki Metropolitan Area, particularly in the central business district and Ruoholahti, as well as Tampere.
The most significant changes to Sponda's current strategy are that Sponda is planning to exit both the Russian market and the Real Estate Funds business in the next 3-5 years. In addition, the company is planning to sell its entire logistics property portfolio as well as property ownership in Turku. In order to make the operations clearer, the name of the Office and Retail Properties segment will be changed to Office Properties segment.
Sponda is planning to exit the Russian business operations in 3-5 years' time. This means that no new investments will be made in the region and current properties, most of which are located in Moscow, will be sold when market conditions allow.
In the Real Estate Funds business unit, no new real estate funds will be established. Those existing funds in which Sponda has minority holding will be managed as before until the end of the term of each fund. Depending on the fund, the term will end between 2014 and 2019.
The capital to be released will be invested in Sponda's main markets in Helsinki and Tampere. Investment objects include both property development projects and office and shopping centre properties.
The company's long-term goals for equity ratio and dividends also remained unchanged:
- The Group's goal is to attain a 40 per cent equity ratio.
- The company aims to pay a stable dividend. The dividend is approximately 50 per cent of the operational cash earnings per share for the financial period, taking into account, however, the economic situation and the company's development needs.