The annual period of financial press conferences begins. Companies review their past year and provide investors with a perspective for the upcoming one. BOMAFA isn't obligated to report in this way, but we choose to do so! Transparency is the foundation of trust, and trust is one of the most important disciplines in this VUCA world. For us at BOMAFA, mutual trust is of highest importance.
So here is our management report:
The year 2023 was a successful one for BOMAFA, both financially and strategically.
In the fourth quarter of 2023, we significantly enhanced our order situation for 2024. Projects in Germany, the Benelux countries, as well as in Asia, were recorded in the order books, ensuring stability for the year 2024.
We are also working intensively on our markets in the Middle East and Brazil. We have achieved important successes there. We also strengthened our commitment in the Middle East by establishing BOMAFA GCC in Dubai. We are now directly accessible locally, allowing us to develop an even better understanding of the needs of the key players in the region. Additionally, we are increasing our presence in Brazil. We have entered into a new partnership with the company Valteksul, aiming to ensure a customer-oriented approach in this economic region.
This alignment is also accompanied by a repositioning. Global sourcing is becoming more and more important for BOMAFA. Our goal is to provide top-quality BOMAFA valves at competitive prices.
In addition to implementing short and medium-term measures to stabilize our market presence, we are also investing in the future. Our goal is to prioritize sustainability more than ever before. For instance, by 2024, we plan to create transparency regarding our suppliers and their production conditions in accordance with the Supply Chain Act. We will also allocate structured personnel and time budgets to address internal sustainability issues. The goal is to provide all employees with the opportunity to take the responsibility towards future generations seriously.
Our conclusion for 2024: We are investing in our strong business relationships, creating added value through cost-effective portfolio expansion, and taking not only the present but also the future seriously.
We look forward to a trusting cooperation with all our customers, partners, suppliers, and employees.
