Page 8 - Annual Report 2019
P. 8
Supervisory Board Report
Group Management Report
Consolidated Financial Statements
Annexes
1.3. Strategy and objectives
As a medium-sized, family-operated business, the Hoftex Group intends to continue its sustainable,
performance-based growth strategy.
To strengthen our position as a supplier and partner to our customers worldwide, we aim to achieve
international growth and expand our global footprint. Customers benefit from shorter development
and delivery times, which translates into a decisive advantage in global competition. We want to
expand our positions in existing markets by supplying innovative products with the highest possible
quality. We aim to extend our product portfolio by developing new business sectors. We will individually
develop our strategic direction within the strategic Group guidelines taking into account the
diversified markets of the individual divisions.
The divisions focus on manufacturing innovative products that meet the most exacting quality
standards. To continue to ensure operating profitability in the future, we will concentrate on
optimising capacity utilisation at all of our locations and dramatically improving the efficiency of
our internal processes. To do this, we are aligning our processes with lean management principles
and practising a culture shaped by a common understanding of quality. We see expanding our
research and development activities and bundling the unique textile expertise within the Group
as a fundamental task and key factor in our success.
Our employees ensure our Company’s sustained success. They make a crucial contribution
to achieving our strategic goals with their professionalism, quality consciousness, loyalty,
entrepreneurial spirit and motivation. Many different nationalities are represented at our worldwide
locations. Here at the Hoftex Group, we see ourselves as a family with common values based on
trust, fairness, integrity, compassion, communication, collaboration and a sense of responsibility
and appreciation of others. We foster our employees’ professional and social skills and build
our strategic HR policy on continuing training and qualification measures along with an integrative
leadership style.
The stable ownership structure of HOFTEX GROUP AG along with its product and service portfolio
guarantee steady and sustainable long-term corporate growth and enable us to pursue our corporate
strategy. As a result, customers of the Hoftex Group are secure in the knowledge that they have a
trustworthy partner at their side, even over the course of a multi-year product cycle.
1.4. Control system
The financial performance indicators decisive for corporate management include sales, EBITDA and
total investments. The financial control system enables us to measure the achievement of division
targets. The divisions provide the Management Board with detailed reports on business performance
in regular Board meetings. This information enables the Management Board to implement
measures to counteract unsatisfactory developments in a timely manner.
Alongside the financial performance indicators used for corporate management, our management
teams also focus on other non-financial metrics such as complaints received, energy consumption
and on-time deliveries.
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