Page 5 - Hedengren_annual_review_2019_final_EN

Hedtec business review At the time of writing this, we have already installed two dynamic
lighting pilot projects in Tampere, and we have the capability to pro-
"Our product range and sales organization are good in all areas duce services from an IoT platform.
of our activities, and during the coming years we will continue to As a whole, our growth was clearly faster than that of the market,
while the market growth was close to zero.
strengthen our position in the market." During the year, nine new industry professionals joined our sales or-
ganization. On Hedtec's scale, this change is significant.
Growth in residential construction evened out during 2019. In other The year 2020 will be more challenging than the last, at least in light
construction sectors, there was not much growth, similarly to a few of statistics and forecasts, and particularly because of the corona
previous years during which, however, residential construction in- pandemic. However, we have a good starting point. We are expect-
creased. At the end of the year, downward trends in permit statistics ing the first significant commercial projects in building automation
and launches were also detected. Public construction, however, con- and smart city solutions. Our product range and sales organization
tinued its steady growth at a relatively good level. That is to say, the are good in all areas of our activities, and during the coming years
market in 2019 did not particularly favor Hedtec's core areas, i.e. com- we will continue to strengthen our position in the market.
mercial and office building, or industry. There was a sufficient number Isto Lehmusvuori
of projects, and Hedtec was able to take its share of them.
The year 2019 was the second successive year of growth to Hedtec.
Its turnover increased by over 6%, and the €30m limit was exceeded.
The year was good in terms of results, too. As in previous years, our
turnover was positively affected by the new products of our principals
as well as our Industrial unit's strong success in projects. Our cable
sales also developed well, although significant projects were conspic-
uous by their absence. In terms of turnover for Lighting, it was slightly
lower than last year, but the improvement in results was significant. In
building automation, we start new partnerships both in supplier and
contractor directions.

Turnover Operating profit Turnover by area

€1000 €1000 28 43%

34 000 1 400 28 46Li%ghting
33 000 1 200 %
32 000 1 000
31 000 Installation supplies
30 000 800
29 000 600 %
28 000 400 Installation
27 000 200 Valaistus supplies

2014 2015 2016 2017 2018 2019 Bu2020 0 2624%
-200
Industry %
2014 2015 2016 2017 2018 2019 Bu2020 Teollisuus

5 OY HEDENGREN AB I ANNUAL REVIEW 2019