Annual General Meeting 2017 – CEO’s speech
Summary of the CEO’s speech at ProfilGruppen’s Annual General Meeting
During his speech at the AGM, ProfilGruppen’s President and CEO Per Thorsell reported on the market and the company’s development in 2016.
Per Thorsell showed that the industry organization EAA’s assessment of the market development last year is that the market for aluminium extrusions in Europe increased by about two percent, while ProfilGruppen’s delivery volume increased by about 18 percent. In Sweden, the corresponding figures are an increase of around five percent for the total market and an increase of 12 percent for ProfilGruppen.
Per also reported on the activities during the past year, when ProfilGruppen had a high presence and activity in the Swedish and Nordic markets and continued its gradual change of the customer platform.
Sales by market and segment were reported and a number of examples of new business were described. It was also reported that market shares had been gained in Sweden and that new tools to the market remained at high levels. The development of the subsidiary PG&WIP was also presented, including the new major order received in the fall, which involves investments of approximately SEK 50 million and the construction of a new production line in 2017, with an expected start of operations in December.
Production has developed positively over the past year in terms of availability, productivity and scrap in all presses. Delivery reliability and quality outcomes have remained at a high level. Production volumes have increased while capacity has been better utilized. Leadership and skills development have taken place continuously during the year.
Per briefly commented on the 2016 financial results.
He also showed the share performance, which has been very positive in recent months. The number of shareholders has also increased significantly.
He summarized the overall situation of the company at the end of 2016 by saying that the company is clearly on the right track – no single event is behind this, but many small improvements and progress in several different areas:
- The market feels stable and the company is gaining market share
- Increased volumes – better capacity utilization
- Continued high levels of new tools
- Accessibility and productivity have developed positively
- Defined focus areas and activities
- A lot of joy, knowledge, experience and commitment throughout the organization
Finally, Per informed that the company earlier in the day presented its best quarterly result ever, with an operating profit of SEK 26.5 million in the first quarter of the year. The company continues to develop in a positive direction and is making progress every day.