Successes are made together
2020 was a year of many successes, the greatest of which was achieving our challenging targets despite the COVID-19 pandemic, which began to spread globally at the beginning of the year.
We started the year with a strong order backlog, and the received projects were completed without any significant delays. Although our business is of an aftermarket nature, in other words, one where the effects of a recession may be seen later, the pandemic itself did not have a significant impact on our sales, which sends a positive signal for the ongoing year as well.
From my personal point of view, there were two decisive factors for our success in 2020. Firstly, the excellent devotion of our staff under challenging conditions. Success has required active and determined management and a close monitoring of expenses. Secondly, successful financial management development projects have also had a significant impact on the outcome.
After a successful year, it is encouraging to continue forward with optimism. We at VEO started the New Year 2021 by looking ahead to the future with positive expectations. Our management team is preparing an updated five-year strategy for VEO, which I believe will bring even more dynamic prospects to our operations.
On behalf of the board, I would like to warmly thank the entire VEO staff for their excellent performance under quite different and challenging circumstances. 2020 was a significant indication of our performance in a tough situation, and I believe that because we were able to succeed despite the challenges posed by the pandemic, we are now ready to face whatever the future brings.
Chairman of the board