Preface of our CEO

Dear Colleagues,

In the first half of 2024, we reached an important milestone by strengthening our market position and making our first entry into the French market. We enhanced our service offerings with five key acquisitions: Dual Invest in Hungary, IBSL in the UK, Tespe in Italy, RSL, which covers the United Kingdom and Ireland, and Soliso Technologies in France. The acquisition of RSL marks our entry into the HVAC segment, a crucial area for our continued growth and diversification.

Despite the challenging business performance in the first half of 2024, with slower-than-expected progress in several markets, it is vital to analyze costs, investments, and working capital to improve our resilience and competitiveness in this volatile environment.

As we look ahead, our priorities for the remainder of the year include:

Digital & IT We are finalizing the details to implement Microsoft Dynamics in our pilot companies. This initiative aims to streamline our operations and improve overall efficiency. Following a successful rollout, we will extend it further within our group. We are also enhancing our cyber security measures to properly protect our digital resources.

ESG is running at full speed. As part of our compliance with the European Corporate Sustainability Reporting Directive (CSRD), we are currently undertaking the Double Materiality Assessment. This will help us to better understand and prioritize the sustainability topics that are important to our business and stakeholders. Next to that, we’ve been working on our carbon footprint assessment, and we are renewing our EcoVadis certificate. Last but not least, we have sent our first employee engagement survey within the IPCOM group. Meanwhile, the results have been shared with the companies; action plans are being developed and will be followed up accordingly. These initiatives have already demanded substantial effort from our organization, and we are grateful for your commitment. This leads to professional and sustainable cooperation with our suppliers, customers, and stakeholders overall.

Procurement We have successfully distributed insulation accessories under the ISOFIT brand name for three years. Building on this success, we plan to further expand the market with new products. Our procurement department is working closely with our business units, particularly ISOPARTNER, to achieve this.

M&A Our growth and expansion with companies are increasing. In the coming months, we look forward to welcoming new companies to our group and will keep you posted.

Our focused approach, supported by dedicated teams, will further enable us to meet challenges and take opportunities.

Thank you for your hard work. With the summer months ahead, I wish everyone a relaxing holiday.

Best regards,
Remco Boerefijn