Annual General Meeting 2012 – CEO’s speech
Summary of the CEO’s speech at ProfilGruppen’s 2012 Annual General Meeting
During his speech at the AGM, ProfilGruppen’s acting President and CEO Peter Schön reported on market development, as well as the past year’s challenges and strategic direction.
Peter Schön reported on the measures taken in 2011 to better adapt the company to the future challenges according to the communicated strategy.
The following actions were taken during the year:
- Change in the management of the company
- Increased market presence through more customer visits
- Efficiency programs have been implemented, with staff reductions and mergers of departments to increase productivity also on the administrative side. As part of this, all manufacturing units have also been consolidated into one legal entity.
The fire that affected ProfilGruppen in June 2011 and the work to rebuild the plant were also described. Despite the fact that deliveries were affected in 2011, customer relations are considered to be good and customers are very satisfied with how this situation was handled.
Peter then reviewed market developments in Europe, where the market for aluminum extrusions in 2011 is estimated to have been on a par with 2010. The decline in southern Europe has been compensated by the fact that Germany is estimated to have been above the level that prevailed before the financial crisis.
Sales by segment were described and a few examples of new customers for the year were reviewed.
Peter then gave an overview of the economic development during the year affected by the fire and emphasized that the focus is on profitability.
In conclusion, Peter emphasized that it is good employees in combination with the customers who are responsible for the value creation in ProfilGruppen and who will make ProfilGruppen reach its financial goals.