Positioning ourselves for the future
Our vision and strategy for the future has always been clear. We want to be the best at what we do, and we will offer our customers valuable partnerships and the best possible basis for a future together. We took a good step towards meeting these targets in 2008, and will continue to do so in the years to come.
Nilfisk-Advance had a good year in 2008. We achieved a record turnover of EUR 790M and realized EUR 62M in EBITA from our ordinary operations. We invested in New Product Development and basic research, and we initiated start up’s in 5 new markets. This is the way forward, and we will continue to invest in our business even though the current tough economic situation might cause a temporary slowdown in our growth plans.
Focusing on our customers
In 2008, we continued to grow our business by acquiring 5 companies, each of which gives us a strong position in new geographies, or expands our portfolio of products and technological solutions. Acquisitions and new sales entities bring us new people and fresh ideas, from which we can benefit and develop our offering to our customers – we therefore welcome onboard all our new employees.
Offering the best
These investments in new product and technology solutions are closely linked to our long-term commitment to be where our customers are, and to meet their needs. We have, in 2008, initiated a large Customer Understanding project, which will ensure that our entire organization is brought closer to our customers, and thus able to offer them better products and services.
In order to offer the best products in our industry, we must be innovative. We continuously upgrade our portfolio and apply new technologies from which our customers can benefit. This is more than just our strategy; it is the cornerstone of our future growth.
Early start up in new markets
Expanding into emerging markets is an integrated part of our strategy. We want to position ourselves in the geographies where the development in time, will start a transition from manual labor to the use of cleaning machines. In 2008 we opened new offices in Argentina,Chile, India, Macau, and the United Arab
Emirates. We believe that the proactive establishment of a solid business, before development takes off, is vital for future businesses. During the coming years, we will also look for opportunities to move into new markets, and to take advantage of our wide product portfolio and well-reputed brands.
High class in low cost countries
The consolidation of our production entities is a normal element of our ongoing strategy. The plans have, however, been accelerated by the economic situation, and involve the further relocation of production from high cost countries to low cost countries. Production in places such as China and Hungary, in no way means compromising on our high quality. We continuously invest in all of our production units, to ensure that we have high class plants for the production of our high quality products.
Double our performance
In 2009, we will adjust our business and align it to the world’s economic development - but we are at the same time committed to developing our business and ensuring that we, and our customers, remain among the leaders.
Our strategic direction is still to Double Our Performance. We will continue to invest in developing our people, our products, and our services. We do this because we believe that constant development and strong relationships with our customers and partners – also in tough times – are what will ensure our success over the long term.
