I probably do not need to repeat this, but 2020 really stands out as an extraordinary year. In times, it has been extremely tough, but our group is equipped to cope with adversity. This year, more than ever, we have shown that our stability is an unbeatable strength.
Alike the rest of the world, Lesjöfors was hit hard by the coronavirus repercussions in the spring. May and April was the worst months, but the rest of the year is best characterized by a steady flow, in some companies quite well and in others, very well. We have our agile and decentralized business structure to thank for this where decision-making is fast, corresponding to the fluctuations in the local market. By acting quick and adequate, we have been able to balance lockdowns, demand variations and subcontractors difficulties.
Ongoing investment strategy
Our group has a built-in robustness with a strong cash flow, stable supply chains and long-term strategies, which is unique and one of our absolute and foremost strengths. Despite of the recession in 2020, we have been able to keep investing in new machinery and hiring key personnel when needed to facilitate growth. We are also ready for acquisitions of new companies to our group simultaneously as we make the most of our potential for organic growth in all companies.
Business as usual in unusual ways
When I now close the books for my first year as leader of this outstanding group of companies, I would like to share some personal reflections. I feel that it is in this group’s DNA to brace up and rise to the occasion when times are rough. Employees across all continents have made their utmost to find solutions and adjustments according to new business conditions. They have gone the extra mile, and then some more, and shown a great openness and willingness for changes and doing things differently. In a fantastic manner, we all readjusted our ways of networking within the group and kept our customer relations going with our digital toolbox.
Make the most of our opportunities
The challenges that might appear ahead will bet met as we always do, by fast adjustments but sticking to the long-term plan. We will keep refining our successful way of doing business and make the most of the vast opportunities in our markets.
I would like to take the opportunity to thank you for partnering with us and wish you and your family a Merry Christmas and a Happy New Year. Stay safe!
Ola Tengroth, CEO