AANNNOOOTTTHHHEEERRR ... - Berco S.p.A

ECONOMIC TRENDS
Despite the obvious slowdown of
the world economy and its markets
in the first few months of this year,
the fiscal year that closed on
September 30th 2001 highlighted
the further expansion of our company.
Sales have reached 360 million
Euro, with an increase of 6.5%
with respect to the previous year.
The opening of new markets, the
increase in production volumes and
the favourable exchange rates have
all contributed positively to this
result.
The economic and financial situation
appears to be very satisfactory;
profit margins continue to be
consolidated. The profit forecasts
for the business year just ended are
in line with the budget forecasts,
and slightly higher than the previous
year.
THE COMPANY OBJECTIVES
We are therefore continuing along
that impressive development path
which has marked the life of our
company over the past ten years.
To give our readers an idea of the
size of the changes, we can remember
that:
1. With respect to the beginning of
the 1990s, production volumes have
more than doubled, and the sales
have practically tripled;
2. Over the past ten years investments
in technologies worth 300 million
Euro have been made, a figure which
has been completely financed by the
company itself (through company
cash flow);
3. Since 1995 we have taken on
more than 2,000 new employees, to
cover both the natural staff turnover
and to provide the resources needed
for growth. Today the company has
about 3,000 employees (and around
100 of these have university degrees
and qualifications in a variety of
technical and economic subjects).
Over the years the company policy has
been oriented to the introduction
of new technologies and the widening
of the product range. We have paid
particular attention to economies of
scale, playing on the stimulation of
market demand and the increase in
production through new investments,
as well as new employment.
This approach will continue to be
used in the medium term company
strategy, with the aim of maintaining
our leadership position in the market.
THE FUTURE
In spite of these positive results,
recent economic developments at
world level have made it necessary
to give serious thought to the situation
that the company will have to face
in the future. Increasing fears of a
coming recession have already
overwhelmed the financial markets.
The dramatic acts of terrorism in
the USA together with fears regarding
the start of new conflicts, with
MILLION EUROS
400
350
300
250
390
310
TOTAL SALES
405
338
430
360
452
370
474
385
496
390
1999 2000 2001 2002 2003 2004
Berco Berco Group
3 Berco News
Front page
ANOTHER POSITIVE YEAR
First data of the fiscal year 2000/01
unforeseeable consequences, have
heightened the instability of the
macroeconomic system. The activities
aimed at reaching an increasingly
higher level of efficiency and continuos
cost reduction become even more
important now if we want our
products to continue to be competitive
in the market. On the other hand,
during the 1990’s our company
achieved an undoubted competitive
advantage. Plenty of technology and
know-how stemming from company
investments, the professional growth
of our human resources, together
with the variety of products and the
solid nature of our economic and
financial situation cannot be found in
any other company operating in our
field either in Italy or the rest of the
world. Therefore, we are sure that we
have the necessary commitment and
reliability to face new, ambitious
projects and to guarantee continuity
in our business relations with our most
demanding partners.
Dr E. Bacilieri
Administrator Director