Italy's Scm Group confirms its financial stability and rewards innovation22 January 2020
Scm Group ended 2019 with a turnover in excess of €700m, in line with 2018's record figures and on budget for the year. It was also in line with orders thanks mainly to the upward swing in the last few months.
The group’s statement confirmed the net financial position was an improvement on the previous year, standing at €70m. 2019 was also a positive year across all strategic markets, like the United States, and in each of the Group's business segments (Scm for woodworking, Cms for other materials and Hiteco for hi-tech industrial components).
“Compared to the international economic context and general trend regarding the markets that concern us, we are extremely satisfied with recorded performance which proved even better than expected," highlights Scm Group's General Manager, Marco Mancini. "To ensure these results continue, and to increase competitiveness within the current global context, the levels of investment need to remain high and we need to continue to push further on innovation, digitalisation, customer support services and continuous training for our employees”.
The company additionally introduced an Innovation Award as a form of recognition for employees who invented the best ideas for products and processes for each individual technology. The prize is currently awarded on an annual basis but will become quarterly in the intent of further encouraging innovative ideas.