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Sustained efforts despite the crisis
With sales of €310m, 2009 figures were down 5.6 % on 2008. Compared to 7 % growth in 2008, this drop in sales fully reflects the deterioration in the economic environment.
Practically all national markets fell, with the, exception of China, India and… France.
That said, Socomec is largely outperforming the industry as a whole, which has seen a 15 % decline globally. This achievement owes nothing to chance !
EBIT has also dropped, although relative to sales it still represents a significant percentage (8.6 %, compared to 10.7 % in 2008). This performance is all the more remarkable since, despite the crisis, Socomec is continuing to focus on R & D and expanding its sales network both in France and internationally.
Socomec group
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Strong fundamentals
Net profit has mirrored the general trend. At €17.5m, it is down 23 % on 2008, but remains firmly in positive territory (5.6 % of sales compared to 6.8 % in 2008).
The increase in equity and total re-absorption of debt testifies to the ability of the Socomec Group to rise to the challenges of an uncertain economic climate and to invest in the future. As an independent, family-owned business, it is no stranger to this potential.
It is putting the long term before the short term, galvanising and seeking commitment from its staff.
A proactive budget
Ultimately the Socomec Group has weathered the economic and financial crisis which has swept across the world. It has a proactive strategy. It forecasts growth of 9 % in 2010.
To reach this target, Socomec intends to expand its market presence by adapting to changes in demand. Proof of this is its investment in solar energy, now a third business area for the Group.
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