WE DID IT AGAIN
Many new records have been achieved, and not least we managed to regain 100% local ownership of MOMEK. In June we got a record of 64,000 hours sold, and then to top this in September with 82,000 and 550 employees in turn. It has worked extremely well from all over MOMEK, and weekly thank-you messages from customers about good deliveries from our employees. Fantastic!
MOMEK has noted itself as a national player, and in 2019 we further strengthened this position both in Norway and in Sweden. The fact that the industrial culture and the knowledge that has been developed over many years takes on even greater tasks and responsibilities in society makes me extra proud.
NEW KNOWLEDGE AND DEVELOPMENT
Automation and installer approval in the MOMEK Techteam gives us new opportunities. And MOMEK WelderMate has received an adventurous reception – an exciting and high-tech product that gives us the opportunity to reach the global market as well.
I also hope you notice the difference with local ownership and governance. For my part, everyday life has changed significantly. Now we can quickly mobilize the board for good processes and effective clarifications.
But now is the time to rest after a hectic year.
Merry Christmas and Happy New Year everyone!
Christmas greetings from
CEO, MOMEK Group
MOMEK AND A WORLD IN CHANGE
The world is changing, and the business cycle for many around us is uncertain. International politics, war and peace, an earth at the breaking point and a growing awareness of environmental challenges and what it takes to build a sustainable industry and private consumption. Exchange rates, market fluctuations, supply and demand in the global market: All these factors affect us whether we want to or not. We can choose to be passive, close our eyes and hope things go well, but it’s not “The MOMEK Way”. MOMEK takes responsibility and builds its future on forward-looking solutions for our employees, our customers, and the community around us. Developing products such as WelderMate, PTModular, and incorporating Automation / Electrical are just part of this journey. Last year the Christmas gift was the mat “MOMEK Making Waves”. This year we combine the Christmas gift for our employees with supporting one of many important environmental projects “In the same boat”. We could certainly have done more, but somewhere we must begin.
Many have been amazed at the breadth and the large interface MOMEK has with the outside world. But the fact that MOMEK works in so many markets, with so many different services, is our strength! When the business cycle is uncertain and the markets falter, I am so incredibly happy that I work in a company like MOMEK. When we enter 2020 with the highest turnover budget of MOMEK history ever (almost 700 mill NOK.), it is not because we have full order books or the business cycle in our markets is so amazing. It is because we have so many opportunities and many legs to stand on, and that we rely on the ability and commitment of the organization to accomplish these missions.
For MOMEK is not like everyone else! We are a strange melting pot of industrial culture, commitment, highly skilled people and a reckless willingness to develop and seek new challenges. In terms of the market, I can’t find many companies we can compare with, who work with the same offensive force in so many different markets, and supply so many different disciplines. So one might ask, is this good? Is it a sustainable business we build?
The answer to that, for me, is a resounding YES! The fact that MOMEK has become one of Northern Scandinavia’s best companies in its field is no accident. Serious and thorough efforts have been made to establish the MOMEK culture and Market, Product and Competence development over many years. But the most important source of success is without a doubt THERE: All our employees day in and day out fold their arms, travel ashore and beach, work day and night to solve our customers’ challenges and problems!
Thank you for your energy and thank you for this year! Hope you find time for rest and good times with family and friends, after another hectic year in MOMEK history. I look forward to working with you in 2020!
I wish you all a brilliant Christmas and a really Happy New Year, whether at home with your family or with good colleagues at work!
COO, MOMEK Group
STATUS ECONOMY AND PROSPECTS FOR 2020
It is nearing the end of the year and time to settle the status of how the financial year 2019 has gone.
Ronny Østrem Pedersen
During the financial year, we performed well in most of our market areas. The forecast for 2019 appears to generate sales of about NOK 615 million and EBIT (operating profit) for the year’s operations of NOK 19 million. Compared to previous years’ results, this is good, although it is just under what we budgeted for 2019.
Next year’s budget is being prepared and is scheduled to be adopted in December. We estimate growth in excess of 10% compared to 2019. Budgeted order backlog is higher in NOK value compared to 2019. Necessary new sales to reach next year’s budget are at the same level as what we expect to achieve in 2019.
In 2020, MOMEK will continue to focus on the Nordic market with services and products we excel in. This decision will help to secure our earnings going forward. In terms of results, we will in future focus on net profit rather than EBITDA as before. This is to ensure a sustainable solidity in the operation of MOMEK.
A short cavalcade showing only a small excerpt from the MOMEK year 2019
CHRISTMAS GIFT FOR IN THE SAME BOAT
We think that In The Same Boat with Rolf Ørjan Høgset at the forefront do a fantastic job, and during 2019 they have collected over 220 tonnes of plastic and marine litter. By 2020, they want to buy more boats for more permanent operational “bases” along the entire Norwegian coast, and in a short time four new bases are planned to collect 1000-1500 tonnes of plastic a year. Collecting plastic is one thing, but awareness about consumption and environmental accounting is just as important. Especially impressive is that young people from all over the world are supporting In The Same Boat, and think the work is so important that they put thousands of hours of dredging hours into cleaning up our coast.
The entire MOMEK Group therefore chooses to support In The Same Boat with 50,000 for the important work they do!
TO CEATE A GREAT PLACE TO WORK THROUGH GREAT CHALLENGES AND CUSTOMER VALUE THROUGH SPARKLING DELIVERIES