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Q1 2019 Cavotec SA Earnings Call Transcript
Hello and welcome to the Cavotec SA Audio Cast with Telephone Conference Q1 2019 Call. (Operator Instructions) Today, I'm pleased to present CEO Mikael Norin. Please go ahead with your meeting.
Thank you. Good morning, everyone, and welcome to this audio cast. I'm Mikael Norin, CEO of Cavotec, and with me I have, as usual, our CFO, Glenn Withers. And we are going to present our Q1 2019 report today.
It has now been 18 months since we launched the transformation of Cavotec in the fall of 2017 after I joined the group earlier that year. The company I got to know at the time had and still has a very strong sales culture, a strong customer focus and great products that are well positioned in terms of market trends such as automation, sustainability and safety.
However, we did also identify several weaknesses such as a fragmented structure with weak internal processes. This had caused inefficiencies and higher costs, resulting in decreasing sales and profitability. This was obviously not sustainable, and we
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