December 20, 2023 Promeco Group Oy

CEO’s greetings

As the year draws to a close, it’s good to take a look back at the past year and then turn attention to the future. Our last fiscal year was a period of historically strong growth for our company. We reached a significant milestone by breaking the of 80M€ sales mark. This growth was visible and felt in all areas, bringing challenges in terms of security of supply and sufficient workforce. Now that the situation has stabilized, it’s clear that this huge achievement would not have been possible without our dedicated staff, long-term partners and also new customer relationships that we have worked hard for. The past year has proven that growth in our industry requires patience and perseverance. Now it has borne fruit.

It has also been a pleasure to see that Promeco is seen as an attractive place to work. We overcame the labour shortage and our staff grew by over a hundred people. Cooperation with educational institutions played an important role in this, as did international recruitment. A big thank you to our supervisors who have successfully navigated in the multicultural work environment and have done a great job in onboarding and engaging the staff. For example, our Filipino workers are still employed and doing excellent work.

The current fiscal year looks similar to the last. With such significant growth, the company always needs updates to its processes and systems, and we are now focusing on improving them and increasing efficiency. We will also continue to invest in the onboarding and engagement of our staff. ESG reporting and carbon footprint management are our key goals, and we are committed to being at the forefront of these issues. Cyber security is another key focus area, and we are also investing in training our personnel and strengthening systems. The fire near our Vaasa unit highlighted the importance of critical systems, and we are committed to ensuring that the impact is minimized in similar situations.

We look to the future with confidence, but also recognize the need to stay alert and respond to market changes. Our renewed ownership base brings us new opportunities, and with them we extend the time span of our strategy further into the future. Our situation is now more stable financially and we clearly have wider shoulders to embrace future growth, but it also requires sensible actions. Growth is not an intrinsic value for us, but profitable growth.

Finally, I would like to thank our entire staff for their contribution and flexibility. The rapid growth of recent times has meant that each of us has succeeded well in our own work. We have discovered new methods and tools and developed our skills. Personal learning and development are also key now that we are building the future together. Only then can we be ready for significant growth again.