Last week was super exciting as we had a chance to finally talk about our plans for Efore 2.0, which after 25th of February is known by the name Enedo. I am delighted that we are now united under the name Enedo, and we can see the future of our company and the business with fresh eyes. I believe our new direction is very relevant to the market, and we have a good chance to change this game.
Enedo — Energy and Doing
We chose a name that describes our straightforward and pragmatic approach towards doing business. The new name Enedo is based on two different words: Energy and Doing. Energy refers to both the overall industry we’re working in, and also to the energetic way we want to get things done. Doing refers to simply what it is: doing and making things happen. We have already started to live the change and making it matter also to our customers.
Enhancing customer value
For our customers Enedo means a wider product portfolio and stronger R&D. One of the key changes we have started to implement is to focus on total customer value delivered in three product categories: Power Systems, Power Supplies and LED Drivers. Due to our internal structure many of our customers have been served by only one of these until now. In Enedo all our customers will have access to this wider product portfolio — based on their own needs.
Full focus on Industrial business
From the financial performance point of view Enedo is a turnaround company. Our financial performance as Efore was quite weak during the last years. Much of this was driven by the development of our Telecom business, which we divested in the end of November last year. Now we can fully focus on our Industrial business. I wish good luck to all our ex-colleagues continuing in Efore telecommunication business. As part of Kexin Communication Technologies, Efore telecommunication business has a good chance to grow again.
Making it happen – stay tuned!
Making a financial turnaround requires success in revenue growth and decisive actions in managing the cost structure of the company. We have plans for both of these and will keep you informed about our progress via press releases, blog posts and news that we’ll be publishing on our website and social media.
Looking forward to the new Enedo life,
Vesa Leino
Enedo CEO