Annual Report 2019

We have continued to address further performance improvements to support our customers and business partners. The first half of 2019 offered continuous growth, while the second half, especially Q4, presented some decline due to market softening and inventory optimization by customers and steel price reductions.

Successful refinancing was completed in 2019. Today we have a simple and effective financing structure to develop our business and become +400 M€ company. This effort is a strong appreciation and trust by the owners, banks and investors to the whole Fortaco team and business partners. As an example of a large investment, we invested 10 M€ in a capacity extension project in our successful operations in Narva. This investment consists of a new manufacturing building of 10.000 m2 and several new CNC machines and robots.

Fortaco Plan is to continue successful journey by additional value-adding activities. We are listening to our customers’ needs today and tomorrow and we are attracting new customers to let them learn more about Fortaco. We are planning several opportunities and developing new technologies and products to minimize customers’ environmental exposure. We are further developing our financial robustness and minimizing risk exposure by several actions, including a strong development of our Master of Flexibility and sales-to-order capabilities.

Annual Report is available upon request, please contact Fortaco Group communications.

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