For various reasons, we will continue to feel the COVID-19 impact in 2021. Because of lockdown restrictions and because many companies are spending less money on maintenance or investments.

Luckily, IPCOM is well spread with interest in 13 countries and many end markets. Some of those end markets continue to perform really well, including “domestic appliances” such as boilers, heaters, air conditioners, and so on. The construction industry, in general, also continues relatively stable.

This also helped us in 2020. We sold slightly less than in 2019, but the impact was limited.

Many of you have contributed to this positive result as well. I want to thank you all for the extra effort and flexibility!

I am proud that the IPCOM culture is so apparent in these times: focused on solving customers' problems, in an entrepreneurial way, with respect for our colleagues and their safety.

We continue to be focused on executing our strategy. This includes actions to increase our offering of “tailor-made” products for customers. We also move ahead with measures that improve our pricing to customers in a smart way.

Our “Digital team” is working hard on the launch of new websites, e-commerce, brand renewals, etc. In Human Resources, we are looking forward this year to a new training platform where, within the group, training and courses will be made available.

Furthermore, we continue to look at interesting acquisitions and hope to be able to bring you positive news about this in the second quarter.

Many initiatives so far, but the motto is: stay safe & healthy. That way, we can resume our normal lives as soon as possible. Which, in itself, will be very special.

Wishing you all the best,

Remco Boerefijn