Annual General Meeting 2013 – CEO’s speech
Summary of the CEO’s speech at ProfilGruppen’s 2013 Annual General Meeting
During his speech at the AGM, ProfilGruppen’s President and CEO Anders Frisinger reported on market development, as well as the past year’s challenges and strategic direction.
Mr. Frisinger reported on the activities carried out since his arrival in summer 2012.
The main activities of the fall and winter have consisted of:
- Disposal of surface treatment plant
- Investments to increase value added
- Staff working time reduction
- Increased market presence.
Anders also commented on the work on safety and improvements.
Anders then went through the focus areas for 2013, which are to:
- Increasing market activity
- Developing inward processing
- Creating full occupancy in production facilities.
Anders explained the changed competitive situation that will result from the merger between Sapa and Hydro and will lead to increased opportunities for ProfilGruppen in the Swedish market. The transaction is expected to be completed during the first half of 2013 after approval from the relevant competition authorities.
Anders then reviewed market developments in Europe, where the market for aluminum extrusions in 2012 is estimated to have decreased by nine percent compared with the previous year. For ProfilGruppen the corresponding decrease is two percent.
Sales by segment were reported and a number of examples of new and potential customers were described. The dominant segment in 2012 was transportation, which accounted for 36% of sales and includes passenger cars, trucks, buses and trains, and vehicle accessories.
Finally, Anders commented on the 2012 outcomes for the financial targets, which you can read more about in the annual report.