rett0037-br purmo bmm-a4 uk

7/28/2019 Rett0037-Br Purmo Bmm-A4 Uk

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Secureyour

buSineSS



2005 2006 2007 2008

Balance sheet total (meur) 764 843 824 751

Net debt (meur) 124 210 192 171

Equity ratio (%) 57 51 50 52

EBITDA (meur) 74 114 91 85

Gross investiments (meur) 52 143 56 20

Find more nancial information on:www.rettig./annual-report



Releasethepressure

“o stg ala sht ad pdtalt havpv attatv t stms…”

Maks Lga, ceo, rttg icc

Thisisatimetostaycool.Theworldwideeconomicsituationhascertainlyaffectedtheheat-emittingsolutionsmarketalso.Manyplayershavebeenhurtbythedramaticdownturninhousingstart-upsorthemanyrenovation-projectsthathavebeenpostponed.Thishashadanimpactoneverybusinesspartnerinthevaluechain,includingwholesalersandinstallers.

Clearly,manycompaniesarefeelingthepressure.Somehavetriedearliertogainmarketsharebyincreasingtheirdiscounts,andnowareconfrontedwithtightermargins.Othersbecamehighlyleveragedtoexpandoperations,andnowmustserviceheavydebtwithshrinkingrevenues.

Our situation is markedly different.Aspartofananciallystable,family-ownedorganisation,wearepreparedtonotjustweatherthestormbuttofurtherconsolidateourpositionasaleader.Ourhealthynancialpositionenablesustomakestrategicacquisitionsandinvestments.Includingnewproductionfacilities,likeourplantinTurkey,thatweboughtend2008.

Ourindependentnancialstatusisastrenghtthatenablesustorealizeourambitions.

Thisnancialstrengthiscomplementedbyourcommitmenttothelong-termsuccessofourbusinesspartners.Acommitmentthatknowsmanydifferentforms.Asavaluablepartner,wewillalwayshelpyoutosecureyourbusiness,especiallyintimeswhenthepressureishigh.



Whereverthemarket,we’refocusedonprovidingquality,heat-emittingsolutionsthatmeetthespecicneedsofthatmarket.

Ourpresence,andoursuccess,isglobal.Infact,we’rerepresentedinmorethan50countriesworldwide,andhavemanufacturingfacilitiesin17countries.Wearethelargestindependentheatemitterbrandintheworld.Morethan9millionradiatorsareproducedeveryyear.

PurmoispartoftheRettigICC(IndoorClimateComfort)divisionthatisrecognizedasthenumber1supplierofsteelpanelradiatorsinEurope.Wealsohaveastrongpositioninbathroomanddecorativeradiators,aswellasunderoorheating.

Thelong-termstrategyofthecompanyistomaintainthisnumber1position,andtoimproveuponitincrementally.Bydoingso,wehelpensureasolidfoundationforgrowthforallofourpartners.

Toreachthisgoal,theimportanceofadedicatedsalesforceineachcountrycannotbeoverestimated.Localexpertiseprovidestherightinputtodeliver

productsthatmeettheneedsofinstallersandend-users.Wealsocontinuouslyupdateproductmaterialsonacountry-by-countrybasis,bothonwebsitesandinliterature.

Theseeffortsallhelptobuilddemandforourproducts.

Wecansupport yoursaleseverywhere

“W all t f g pat f a stg epaad ad addg lal xp ad kwldgw add val t sals.”

chstph edwads, Sals & Maktg Dt, Pm utd Kgdm



OverthelastseveralyearswehavecommittedsignicantresourcestothemergersoffacilitiesthroughoutEurope,toimproveourlogisticalefciencies.

Thesestrategicallylocatedsitesensureasteady,reliablesupplyofproductstomeetdemandinlocalterritories.WehavealsomadesignicantinvestmentsinimprovingthesefacilitieswithITandproductiontechnology.Thishasenhanced,simpliedandintegratedourentireEuropeanbusinessprocess.

Theseimprovementsbenetourbusinesspartnersinmanyways.Itensuresmorereliabledeliveryofproducts.Oneexample:Ournewpanelplatformconceptenablesaseamlesscontinuationofproductionfromoneplanttoanother.Soifthereis,bychance,abreakdowninpressingatoneplantinEurope,identicalpanelscanbepressedatanyofourotherlocations.Theproductsthencanbeimmediatelytransferredtotheaffectedlocationforassembly,paintingandpackaging.Thelevelofservicetothecustomerisunaffected.

Ourproductionefciencyalsohelpstostreamlineyourlogisticsandwilldecreasethecostsofwarehousing.

Ourdeliveryperformanceisupto98%orevenmore.Ontime-inll(OTIF),withleadtimesoflessthan5days.Youcanexpectthislevelofefciencyineverycountryinwhichweoperate.

We’reorganisedto

helpyourunamoreefcientoperation

“W val -tm dlv as stms dpd s t hlp thm t maag th wkg aptalftl.”

Js bgs, chf opats of, rttg icc



WehelpyougrowyourbusinessbyfocusingonimprovingoursWealwaysfocusonimprovingresults.Certainly,wedothisbyexpandingcapacity(whenappropriate)andimprovingourefciencies.

Butwealsoneverlosesightoftheimportanceofraisingawarenessofourbrandsandourbusiness.Forthatweyearlyinvest10%ofourturnoverinmarketing,salesandefcientmarketcommunications.Twiceeveryyearwelaunchmajor,pan-Europeancampaigns,supportedbyongoingmarketactivities.

Theresultshavebeenconsistentlypositive.We’veincreasedmarketsharesignicantlyinmanymarkets,aswellasourbrandawareness.Infact,weenjoyanumberonepositionintopofmindawarenessinmanycountries.

Ourbrandpositionstandsforinnovation,inspirationandquality.Purmoproductsandsolutionsnotonlyprovidewarmth,theyalsoaddadimensiontoindividuallifestyles.Theymeettheever-changingneedsofinstallersandend-usersineverymarket.

Thisbrandpositioniscontinuallyreinforcedbyourmarketingcommunications,bothonlineandofine.Onaregularbasis,wemonitortheneedsofthemarketandrespondwithnewmarketingmaterialinallmediatofurtherstrengthenourpositions.

“o p mdst ad kwldg f th lalmakt a th ma fats f sss. W allfl slvs tl spsl f stmssss ssss.”

el Dha, bad cmmal Dt, Pm rads



Ultimately,ourreputationandcontinuedsuccessrestswiththeintegrityofourproducts.Quality,therefore,isthecornerstoneofanorganisationthathasbeenactiveintheradiatorindustryformorethan30years.

Ensuringthisquality,however,callsforsignicantinvestments.

AgoodexampleofourcommitmentisourrecentinvestmentsinnewfacilitiesinBelgium,PolandandtheUK.IntotalRettigGroupinvested250millioneurooverthepastfouryearsinbusinessthey’vecommittedto.Andthey’llcontinuedoingso.Investmentsthatincreasequality,whileenhancingexibility,improvedproductavailabilityandon-timedeliveryatreducedcostlevels.

ExpandingfacilitiesthroughoutEuropealsoreectsourdedicationtolocalmarkets.AsaleadingEuropeancompany,Purmodemonstratesitscommitmenttoitsemployees,tosocialsecurityandtomaintainingahighqualityoflife.

Thisfocusonqualitycertainlyappliestoallofourradiators.EachoneisdesignedandtestedtomakesureitcanwithstandpressureswellabovetherelevantEuropeanandinternationalpressurerequirements.Allourradiatorsareguaranteedtotakethestrain.Eachandeveryoneisbackedwitha10-yearguarantee,anindustrystandard.

Qualityprovidesasecurefoundationthatcanhelpreleasepressureinturbulenttimes.Installersandend-users,whenmakingachoice,willchooseproductsmadeforthelongterm.Youcanpromisetoyourcustomersthebest.Andwewilldeliver.

Built-inquality

thathelpsyoukeep yourpromises

“All adats fm t th mst stgtqalt stadads ad a a mlttd f qalt adappval sals.”

clads Gams, bad Dvlpmt Maag, Pm rads



Whentimesgetturbulent,it’sgoodtoknowthatyourbusinesspartnerisstableandsufcientlyfundedtowithstandthestrain.PurmoispartoftheRettigGroup,afamily-ownedbusinessthathasover200yearsofhistoryandexperience.

Rettig’sbalancesheetisstrongandthecompanycontinuestoenjoyasteadycashow.Furthermore,ithasalong-standingrelationshipwithbankingpartnersandhassufcientcreditlinesavailable,ifnecessary.Thisenablesustocontinuenancingoperationsandgivesustheopportunitytoexpandouractivities,withoutbeingoverlyinuencedbyanincreasinglyrisk-adversecreditmarket.

Anothercontributingfactortooursolidpositionisthecompany’sfocusonlong-termstrategyinsteadofshort-termdecisions.Beingwellfundedandnanciallystable,ofcourse,givesusthefreedomtothinklongterm.

Clearly,weareabletosupportourbusinesspartners,whateverthemarketconditionmaybe.

We’repreparedto

helpsecureyourbusiness

“i am vd that th tl wll als gsss pptts t mpas, sh as rttg,that hav a halth aal pst.”

bja Mtts, ceo, rttg Gp Ltd



We’llhelpyoutogetthere

“Th sz f mpa, th stgth f adsad th makt pst lkd t th aalstalt f th rttg Gp wll hlps s vmpmg hallgs.”

Tmasz Taaa, bad Dt, Pm rads

Actually,nowistheidealtimetomakegreatthingshappen.

Tochangeandtobuildabrighterfuturetogether.Yes,theseareturbulenttimes.ButthesearealsotimestostrengthenourpartnershipandtocreatenewopportunitiesforallpartnersworkingwithPurmo.AtPurmowefullyappreciatethemagnitudeofthecurrentcrisisanditseffectonbusinessworldwide.

Asacompanywearepreparednotjusttoweatherthestorm,buttocomeoutstrongerandbetterpositionedthanever.Andwe’rereadytohelpourbusinesspartnersenjoythesamelevelofsuccess.

Firstandforemost,youcanexpectthefreedomthatcomesfromnancialstability.Wehavetheresources,includingcashreservesandsufcientlinesofcredit,tonancecurrentoperationsandtoexpandcautiouslyintonew,promisingmarkets.Wealsohavearangeofqualityproductsthatmeetthespecicneedsofeachmarketweserve.Ournetworkofsalesandproductionfacilitiesmeetcustomerneedsineachspecicmarket.Andwearecommittedtothemarketingactivitiestoraiseawarenessanddemand

inthosemarkets.

Inshort,Purmohastherightcombinationofresources,theorganisation,theproductsandthestrategicvisiontohelpyoureachyourbusinessgoals.Let’scontinuebuildingtogetheronaprotablefutureforallofus.



“W s rttg icc as a vstmt f th ft.o faml thf s mmttd t a statg f lg tm dvlpmt. i that psptv w appad t tak whatv stps ssa t sth halth f ssss. F gats t m.”

cl v rttg, chama, rttg Gp Ltd

W W

W . P U R M O . C O . U K

Purmo United Kingdom

Rettig Park, Drum Lane, Birtley, County Durham, DH2 1AB

T 0845 070 1090

[email protected]

www.purmo.co.uk

rett0037-br purmo bmm-a4 uk

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