Engcon Group achieved net sales of just over SEK 1.3 billion in 2019, an increase of 13 percent on the previous year, marking 10 years of continuous sales growth. The company also celebrated 2019 because of pricing levels, establishing new markets, and the roll-out of strategic plans for Engcon’s future.
In addition, global demand for Engcon's products continues to rise steadily, it said in a press release.
”Of course, it feels good to close the final accounts for 2019 with a positive result,” said Krister Blomgren, CEO of Engcon Group, in a prepared statement. “Already during the fall we began to feel the economic downturn, but our strategy to establish new markets has contributed strongly to increased net sales. A positive growth strategy for tougher times ahead.”
The company is growing in the United States, France, and the Netherlands and will set up new offices in Australia and Korea in 2020. Centrally, the company has focused on ensuring that the necessary skills are in place, actively recruiting key personnel to prepare for the company’s future development.
“We will continue to have an offensive growth strategy, leveraging organic growth in new markets. We are experiencing a rapidly growing market for tiltrotators around the world,” said Blomgren.
Engcon's strategy for the coming years is firmly focused on continued growth, increased efficiency, and a clear commitment to enhance the everyday lives of excavator users.
”We entered 2020 with a good financial performance in 2019,” Blomgren said. “But Covid-19 has also hit us and sales have varied greatly during the spring. We will remain on the path of building closer relationships with our end customers, to continue to be the first choice as a supplier of tiltrotators for all the excavators in the world.”