Following another dynamic year, I am very pleased to share some reflections and updates with you all. This year has been especially significant as we celebrated 35 years in business, a remarkable milestone that fills us with pride and gratitude. This achievement is a testament to the dedication and hard work of our incredible team who have always been pivotal to our success. I extend my heartfelt thanks to everyone in the ServiceTec family.
Despite facing challenges in hitting our budgeted numbers, we have managed to stay resilient and adaptive. Whilst we will end up just short of our plan, I am pleased to report that we still expect to surpass last year’s revenue and maintain a similar operating profit. Furthermore, our strong forward order book, bolstered by significant renewals in both regions, positions us well for future growth and stability.
The EMEA team, with assistance from Laura Becker, attended the Passenger Terminal Expo (PTE 2024) in Frankfurt this year. The event set new records for attendance and the number of exhibitors, highlighting our vibrant and evolving industry landscape.
Unfortunately, I could not attend as planned. This was due to a very badly timed fall and a fractured elbow the night before my departure! 🤦♂️So I spent the evening in the hospital having a plaster cast fitted, instead of flying to Frankfurt!
The Board recently visited our German sites in Munich and Hamburg. We had productive meetings with the ServiceTec teams at both sites. We also took the opportunity to meet with our customers who, I am pleased to report, were particularly complimentary about ServiceTec and our onsite teams in Germany. These interactions are always enjoyable of course, but importantly, they further reinforce our commitment to service culture and technical excellence at every one of our sites.
We held our annual Group Management Meeting (GMM) in the UK in May, where we reviewed progress on our five-year plan and business strategy. It was an excellent opportunity to hear about the latest news and activities from both regions. Following the GMM, we had the EMEA Update meeting (formerly known as the RoW Update), where we discussed in more detail the activities and opportunities specific to the EMEA region (Europe, Middle East, and Africa). These sessions are invaluable for sharing insights across our remote teams, and help us keep our efforts at every site aligned with our strategy. As always, they were a creative and productive set of meetings and presentations, with a number of valuable outputs for the team.
As we finalise the budget for the next financial year, which started on 1st July 2024, we are reminded that this will be year four of our five-year plan to double the size of our Group. The progress we’ve made so far is commendable, and I am confident that we will continue to achieve great things in the years ahead.
Finally, I want to extend my sincere thanks to each and every one of you for your unwavering support and contributions. It is your dedication and passion that drive our achievements and make ServiceTec the outstanding company it is. As we look ahead, I am confident that we will continue to support and encourage one another as we strive towards our next set of ambitious milestones.
Wishing everyone a fantastic summer and here’s to a productive and rewarding year ahead for all of us at ServiceTec.
David J Ison
Chief Executive Officer
