Pioneer Newsletter Q1 - 2023
We are steering through 2023 and shaping our future with a lot of energy. Careful handling of the limited resources of our planet is one of the biggest challenges. At the same time, it opens a great opportunity to successfully shape the future. Consistent digital transformation unlocks the potential necessary to stand out from the competition, as well as to use energy and invest in a much more sustainable way. The current economic environment is complicated, which makes these efforts even more relevant.
Despite the negative impact of the last three years, we can see a slow, gradual recovery with regard to costs. The economy is still reticent, and it`s hard to tell when an upswing will take place or how strong it will turn out. Higher base interest rates are causing uncertainty, especially in the construction sector. The downturn in new construction poses a threat for the global economic growth in general.
The IMF judges the overall economic situation for 2023 not (yet) very positive. Regarding this, the advantage of good global positioning is again obvious.
The elevator market is currently in “service mode”, i.e. new installations are in decline, making way for modernization and repair business. This trend is clearly visible in the analysis by Credit Suisse from early 2022, although the increase of new installations in 2023 will not take place as shown in the diagram.
The global construction market will reach a low point in the residential subsector in 2023. As a whole, the construction sector will experience a slight upturn, especially due to the strong development in civil engineering. Public and industrial building subsectors are much more robust than residential buildings. As a new global leader for industrial door sensors, CEDES is well-positioned in a resilient market.
The integration of the portfolio is progressing swiftly, and our new location in Sibiu (Romania) is geared up for operation. Production start is planned for this autumn.
The 7th CEDES subsidiary in the heart of Romania further strengthens the global competitiveness of the CEDES Group. The project team with as the local General Manager does a great job and deserves many thanks from the Management Board.
Moreover, the automatized production in Switzerland is under further development. Our goal is to bring this core of CEDES production into the Champions League. To this purpose, we have conducted an AOI (automated optical inspection) and a fully automatic de-paneling, and installed a cutting-edge, high-throughput SMD production line. Further investments are in preparation and will lead to full testing automation.
Full automation, incl. traceability, is not possible without digital transformation. The CEDES Group accelerates this journey, not only by digitalizing all processes, but also by shifting towards IoT-enabling products. It is well known that data is the new oil. CEDES enables IoT by collecting and pre-processing data with intelligent sensors (and sensor fusion systems), extracting its properties and transmitting it into the cloud in a compact form. We are excited to announce a , a leading IoT provider. AI is gaining in influence in this process, providing systems with a learning ability. If you`re interested to learn more about IoT and its growing importance for the Industry 5.0, don`t miss the in Prague.
Christian-Erik Thoeny
CEO CEDES Group
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