Review of our financial year.
After the automotive industry hit some speed bumps at the end of last year, the coronavirus pandemic brought everything to a grinding halt over the previous business year. In 2019, we had to steer clear of speed bumps not only caused by external factors, but also those thrown up by poor sales performances over the previous years. Our lag in this year, however, is primarily the result of force majeure. Thanks to the excellent teamwork of the SERO team and the understanding all employees showed for measures – some of which were drastic and not very popular – we managed to navigate the crisis relatively unscathed. I would like to very sincerely thank all our employees!
Our customers demanded the greatest possible flexibility from us, with market-related call order revisions sometimes coming in on an hourly basis. At the same time, some of our industrial customers unexpectedly demonstrated a significant increase in call orders: we operated three shifts for weeks while simultaneously applying for reduced hours for many of our team players. This production performance is something we can all be very proud of!
All the same, we achieved stellar performance in reaching our essential goal of acquiring new customers and orders in spite of the coronavirus restrictions: We managed to double the volume of new orders for our company, compared to the average over the last three business years! With that, we have proven that the growth trajectory we are following remains realistic, even if the starting point is a bit lower as a result of the virus. We notice that our automotive market opportunities in the field of electronics are better than those of other suppliers. At the same time, we strive to continue consolidating our industry share, which we already managed over the previous business year.
In addition to the range of tasks from new series production, we are delighted by our relatively high current production volume. In all likelihood, this will continue up to the end of the calendar year. There are no guarantees as to whether this trend will continue into the next year. This is why we stay flexible and focus on processing customer requests.
I would not only like to thank our customers, who remained loyal to us as usual, together with new companies who showed an interest in our services, but above all our employees, who worked overtime, sometimes also on Saturdays, and sacrificed their spare time for SERO and our customers.
Let’s all hope that the current increase in infection figures will not have a significant effect on our business and that our families and we stay healthy! This is what I wish for all of us!
Dr. Bernd Welzel