Annual General Meeting 2018 – CEO’s speech
Summary of the CEO’s speech at ProfilGruppen’s Annual General Meeting
Summary of CEO Per Thorsell’s speech at ProfilGruppen’s Annual General Meeting April 17, 2018
During his speech at the AGM, ProfilGruppen’s President and CEO Per Thorsell reported on the market and the company’s development in 2017.
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 went up by about two percent. At the same time, ProfilGruppen’s delivery volumes have increased by around 15 percent. In Sweden, the corresponding figures are an increase of around four percent for the total market and an increase of 16 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.
A number of examples of new business were described.
The development of the subsidiary PG&WIP was described, including the construction of the new plant that took place in 2017 with production starting as planned in January 2018.
Production has developed positively over the past year. Delivery reliability and quality outcomes remain at a high level. Production volumes have risen, leading to increased capacity utilization. Leadership and skills development have taken place continuously during the year. Per also reported on developments in the ongoing business system project.
Per proudly informed about the Board’s decision, earlier in the day, that ProfilGruppen is investing in a new world-class production facility. The new production facility for aluminum profiles will be built directly adjacent to the company’s existing facilities in Åseda. Per also showed an animation of how the construction and process will look.
Per briefly commented on the 2017 financial results.
Per informed that the company earlier in the day presented its best quarterly results ever, with an operating profit of SEK 34.5 million in the first quarter of 2018. The company continues to develop in a positive direction and is making progress every day.
He summarized the general situation in the company today by saying that the company is clearly on the right track – there is no single event behind it, but many small improvements and progress in several different areas:
- Aluminum, the material of the future
- The market feels stable and the company is gaining market share
- Defined focus areas and activities
- High capacity utilization – high delivery service
- Decision on increased capacity
- Lots of laughter, knowledge, experience and commitment throughout the organization