Despite lockdowns, travel restrictions, liquidity challenges, and a wildly fluctuating international marketplace predicated by COVID-19, the Phoenix Mecano Group’s recently released 2020 Annual Report tells the story of an agile organization that has risen to the challenge remarkably well.
As a small global player, says Executive Board of Directors Chairman Benedikt A. Goldkamp, Phoenix Mecano faced a wide array of challenges. “Thanks to our decentralised organisational structure, we were able to quickly and efficiently protect our employees’ health, maintain our logistics chains, introduce short-time work, virtualise business processes and digitalise internal and external communications,” he said.
Owing to the company’s availability of flexible automation components, the 2020 Annual Report also reflects a nearly immediate increase in the production of ventilators to help treat the symptoms of severe COVID-19 cases around the world. In addition, the Annual Report notes a significant uptick in the production of ergonomic seating and reclining furniture, driven by need for millions of employees to begin working at home.
The Annual Report reflects strong overall growth toward the end of 2020, indicating that Phoenix Mecano is already incorporating lessons learned from the earlier phases of the pandemic into its strategic plan and capitalizing on new opportunities created by unprecedented market conditions. A number of important organisational and legal steps initiated in 2020 and continuing in 2021 will lead to significant growth and expansion for the company growing forward.
“2020 was unique in terms of its challenges and demanded a huge amount from employees in production, logistics, administration and management,” said Phoenix Mecano’s CEO Dr. Rochus Kobler. “Digitalising processes in real time while maintaining the service level expected by customers, and coping with the psychological stress caused by the pandemic, placed demands on our employees’ adaptability. Our 7,500 employees around the globe have risen to this challenge remarkably well. On behalf of the management and Board of Directors, we would already like to say a heartfelt thank you to each one of our employees, whose exceptional commitment has enabled Phoenix Mecano to weather the crisis well thus far.”
https://www.phoenix-mecano.com/en/investor-relations/annual-report-2020
