Outotec’s strategy is to serve customers with leading technologies, superior customer service and excellent execution.
In line with our mission - targeting the sustainable use of Earth’s natural resources - Outotec is committed to protecting the environment in all its activities. We strive to serve our customers using our wide range of leading minerals and metals processing technologies and life-cycle services. By 2020, we also aim to achieve superior customer service and excellent execution.
Our commitment to sustainability binds us to take a holistic view of our customers’ business. As countries start implementing the Paris climate agreement, we expect carbon emission controls to start playing an increasing role in addition to existing stringent restrictions on emissions of harmful substances to air or water.
Megatrends such as urbanization, resource efficiency and sustainability, coupled with digitalization bring opportunities for Outotec. While safety has long been a top priority for our industry, environmental performance and social license to operate are also increasingly at the forefront of our customers’ minds, not least because of tightening regulation. We also see many unused business opportunities and some threats in China, the country producing over half of the world’s metals and owning an increasing share of the world’s mining assets.
Volatility and the cyclical nature of our business is expected to continue, which drives us to further grow our service business.
The key in our climate change strategy, made in 2016, is harnessing our technology for the transition to a low-carbon industry. We have complemented the estimated impacts of megatrends with the opportunities and risks defined in connection with our climate change strategy work.
Our short-term priority is to improve our profitability to achieve economic sustainability. We also work to grow our service business to enhance our ability to create value over the cycles.
To be able to reach our 2020 vision, we are working on five development areas:
1) Customer focus
To deliver the best customer experience we will develop our account management, sales and leadership competences and improve responsiveness.
2) Service business
Services bring us a steady revenue flow, long-term customer relationships and sustained margins. We will increase local presence and focus on our existing customer relationships and installed base to maximize customers’ return on investment. We aim to increase productivity by digitalization. Our Services organization, established in April 2017, is dedicated to developing our service offering and creating the growth.
3) Product competitiveness
We work to improve the cost competitiveness of our products by further differentiation through digitalization and improvements in energy and environmental performance. By redesigning products, by changing components without compromising on quality, and by searching for lower cost supply alternatives we aim to reduce sourcing costs.
4) Project excellence
We work to improve the quality of our project deliveries and bring flexibility to the cost base.
5) Our people
Since we are an expertise-based company, people are our most valuable asset. In recent years, we have unfortunately seen a dip in employee engagement. We are working to create an environment for our people to develop, succeed and find joy in their work. Leadership development is one focus area in this work.