Annual General Meeting 2019 – CEO’s speech
Summary of the CEO’s speech at ProfilGruppen’s Annual General Meeting
ProfilGruppen’s President and CEO Per Thorsell reported on the company’s development in 2018 during his speech at the AGM.
Per Thorsell showed that the industry organization EA’s assessment of the market development during the period 2014-2018 is that the market for aluminum profiles in Europe went up by about two percent. At the same time, ProfilGruppen’s delivery volumes have increased by around seven percent. In Sweden, the corresponding figures are an increase of around 3.5 percent for the total market and an increase of 79 percent for ProfilGruppen.
He explained that the focus of the marketing organization is Sweden and the Nordic region, as well as selected segments in northern Europe in general, and that they are working to develop the customer platform by increasing further processing and thus increasing profitability.
In the supply chain, the focus is on skills and leadership development, while continuous operational improvements and reinvestment are ongoing.
Per summarized the ongoing work and noted that it has led to the company growing faster than the market, that capacity utilization and the proportion of further processing has increased.
Per also informed about the new production facility for aluminum profiles, Tor, which is being built directly adjacent to the company’s existing facilities in Åseda. An animation was also shown of the construction and how the process will look.
Per briefly commented on the 2018 financial results.
Per informed that earlier in the day the company presented its results for the first quarter of 2019, which for the third consecutive year is the best presented so far, with an operating profit of SEK 35.6 million. The company continues to develop in a positive direction and is making progress every day.
He summarized his speech by saying that the company is clearly on the right track in several different areas:
- Aluminum, the material of the future
- Taking new business
- Defined focus areas and activities
- High capacity utilization – high delivery service
- Building expanded capacity
- Lots of laughter, knowledge, experience and commitment throughout the organization