Review of 2019 and the first quarter of 2020
Despite the enduring weakness of the global economy over the course of 2019 due to the trade conflicts between the USA and China, BREXIT and further geopolitical risks, the LiSEC Group was able to position itself on solid and promising foundations during the 2019 financial year with an export ratio of approx. 95 percent. With over 20 sites around the world, LiSEC is capable of delivering high quality service to customers internationally with regional points of contact at eye level.
During the 2019 financial year, the group succeeded in increasing its turnover to 224 million EUR. Comprehensive measures to streamline its structures and the increased focus on customers had a distinctly positive effect for LiSEC, and led to a successful course that continued up to the end of the first quarter of 2020 and was only weakened by the COVID-19 pandemic.
Like every other company in the international capital goods sector, and in particular in the plant and machine construction industry, LiSEC was faced with entirely new challenges within a matter of weeks and was forced to implement appropriate measures to economically deal with the effects. Despite this, the group has a good order inventory, which will largely ensure capacity utilisation during the 2020 financial year.
LiSEC received the award for the best family business in Lower Austria in 2019, and this was not without reason. 2019 witnessed the construction of a new fresh kitchen – LiSECK – for the employees at the Seitenstetten site. In 2019, a total of around EUR 9.4 million was invested on areas including software, machinery, operating and business equipment.
At the start of 2020, LiSEC also took the opportunity to acquire a stake in – and therefore to continue operating – the former CERION Laser GmbH as well as CERION GmbH in Minden under the name CERICOM GmbH, thereby seizing the chance to position itself in the rapidly developing field of laser technology and to further expand its expertise in the laser processing of flat glass.
LiSEC in the COVID-19 pandemic
The export-driven industry in particular is facing a downturn in the international economic environment due to the COVID-19 pandemic. Based on scenario planning, LiSEC has also put measures in place to reduce costs, but consistently also to enhance efficiency, in order to mitigate the impacts of production restrictions and short-time work insofar as possible. “Despite our rapid response to the strict measures implemented by the government and the subsequent changes in our operational processes, we will feel the financial consequences of the COVID-19 pandemic, in particular in the second half of the year and in 2021,” said Oliver Pichler, CFO of the LiSEC Group.
LiSEC plans to emerge stronger from the crisis
LiSEC sees the current COVID-19 crisis as a chance to explore new avenues, and use new media to take opportunities to establish more efficient working processes, as well as supplying customers and interested parties with information faster.
“In order to further strengthen our customer focus, LiSEC will be organising a virtual trade fair from 27 to 30 October 2020. During this event all operative companies of the LiSEC Group will be represented online, to present all-round solutions for flat glass processing. Thanks to the possibilities of digitalisation, we will be able to offer interested parties a virtual experience with new forms of encounters. Our comprehensive programme will consist of insights into production, a broad spectrum of infotainment, expert discussions and various opportunities for interaction, right through to direct sales contact,” said Gottfried Brunbauer, CEO of the LiSEC Group.
2021 marks the 60th anniversary of the foundation of LiSEC, which is to be celebrated within the framework of an in-house trade fair at the Seitenstetten site from 17 to 19 June. Our customers and interested parties attending the in-house trade fair will be presented with the newest and most innovative solutions for the flat glass industry from a single source. LiSEC will therefore not be participating in the rescheduled glasstec in July 2021.