Engcon continues to show strength & growth with record financial year
10 September 2019
Without question, Engcon can summarise 2018 as a very successful business year. When the industry’s economic performance for 2018 is published, it will undoubtably show that Engcon Holding continues to grow rapidly and secure its position as a world leader. Sales increased by SEK 137 million to SEK 1.2 billion, and earnings reached SEK 157 million. These figures are due mainly to successful sales in countries such as the Netherlands and France. showing significant progress. Engcon’s continuous product development and an ever-expanding range of safe and effective equipment are also important factors for the success.
“At Engcon, we strive to not only create high quality tiltrotators, but to also exceed our customers’ expectations with our customer service. Because our after-sales service is well renowned for its excellent responses, on the rare occasions our products malfunction, our customers remain loyal. To enable continued investment in the development of our business, we naturally seek to keep costs down and earnings up," says Krister Blomgren, Engcon Holding CEO.
Engcon forecasts increasing demand in the global market
It is estimated that there are tiltrotators on only around two percent of all excavators in the world, and this means a huge market potential for everyone in the industry. The US and Japan are two examples of markets facing major challenges in the construction industry in the coming years. More efficient and safer working methods are required, which creates good opportunities for Engcon and our lineup of equipment.
“We are convinced that our tiltrotators, automatic quick hitches and safety hitches are the answer to many of their challenges. Our goal is quite simply to transform and streamline the excavator industry," says Krister Blomgren.
Engcon, which currently has 44 percent of the total tiltrotator market, is well equipped to meet increasing global demand in the years ahead.
"We're streamlining our processes and we choose to reinvest a large part of our profits to expand production, increase delivery capacity and become even better. We aim to stay one step ahead, and our positive earnings help us continue development,” says Krister Blomgren.
Exciting initiatives open the door for continued success
During the autumn of 2019, Engcon will recruit additional key personnel, begin new, exciting collaborations and standardise its safety hitches. The initiatives will help Engcon further strengthen its position in terms of the market and the end customer.
Source: engcon Group