We look back on a successful 2019 with a moderate growth rate of over 3% and a very good first quarter 2020, in which we grew by more than 6%. The corona pandemic has, however, impacted our respectable result in the first quarter; without it we would have grown even more. The situation in the coming months is uncertain, the pandemic will definitely have an impact on development, but only someone a crystal ball could predict the future at the moment. CEDES is globally positioned and benefits from these distributed sales pillars.
Currently Asia, especially China, is on the way back to normality and we can see sales increasing again. The IMF has noted the end of Asia’s 60-year growth phase. However, experience has shown that Asian countries often have an ace up their sleeves and China will do everything it can to prove to the world that it can best deal with this situation.
In Europe, the pandemic has only just peaked and as a consequence companies are being extremely cautious, even if they are not under lockdown. Business is also very subdued and declining for CEDES. Many countries are now relaxing their strict lockdown measures, but it is still uncertain how quickly sales will recover.
North America has been severely affected, especially in some metropolitan areas on the Eastern Seaboard, and is only just reaching the peak of the pandemic. So far we have not seen any negative impacts, but when and to what extent they could arise is very uncertain.
COVID-19 will not influence development at CEDES with its strategically supplemented product range. The offerings are too attractive and further products will follow on the basis of the developed platforms. In the traditional application areas of elevators, escalators and access automation, the product range is supplemented by intelligent sensor systems for door monitoring, which also comply with new standards. Escalators can be controlled in an energy-saving manner and meet higher safety requirements. With the new leading product range APS and iDiscovery, elevator shaft control is being taken into a new era as a disruptive innovation. The industrial light curtains, supplemented with new functions and certified to SIL2, are experiencing rapid growth and are an important part of the business. A completely new field of application was opened up together with our new, large-scale customer Amazon; the CEDES sensor systems monitor robot/human cooperation, prevent accidents and increase efficiency.
Dear readers, I wish you and your families good health and well-being during this difficult time. Let us all emerge from this situation with renewed strength. There will be a time after COVID-19 and we can expect to experience positive results even before 2021.
CEO CEDES Group
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