Annual General Meeting 2015 – CEO’s speech
Summary of the CEO’s speech at ProfilGruppen’s Annual General Meeting 2015
During his speech at the AGM, ProfilGruppen’s President and CEO Per Thorsell reported on, among other things, market developments and some of the past year’s activities and their effects.
Per Thorsell presented the company’s assessment of the market development in 2014, where the market for aluminum extrusions in Europe has increased by about one percent compared to the previous year, while ProfilGruppen’s delivery volume has increased by nine percent. In Sweden, the corresponding figures are an increase of eleven percent for the total market and an increase of twenty percent for ProfilGruppen.
Per also reported on the activities during the past year, where the focus has been on increasing activities and presence in the market, changing the customer platform for increased profitability and improving productivity and availability in production.
Sales by market and industrial segment were reported and a number of examples of new customers were described. It was also reported that market shares had been gained in Sweden and that new tools to the market had been at all-time high levels during the year.
In the fall of 2014, production improved availability and productivity in all presses. Delivery precision and quality outcomes have continued at a high level. Change work within the company’s own machining workshops is under way to improve profitability going forward.
Per also commented very briefly on the 2014 outcomes for the financial targets, which you can read more about in the annual report.
He summarized the general situation in the company at the end of 2014 by saying that earnings and delivery volumes have improved and that the company is on the right track – but that it still has a long way to go before it has achieved its long-term ambitions.
- The market feels stable and the company is gaining market share
- All-time-high levels of new utilities
- Accessibility and productivity have developed positively
- Clear activities and focus areas ahead
- A lot of knowledge, experience and commitment throughout the organization
In conclusion, Per informed that the company is expected to show a significantly better result in the first quarter of 2015, compared to the fourth quarter of 2014. This is a direct result of the fact that the investments on the marketing side, with higher activity and presence with customers, as well as measures for increased efficiency in the production chain have begun to take effect.