Roto Hosts International Trade Press Day
December 1, 2020
During its first International Roto Trade Press Day held digitally, Dr Eckhard Keill, chairman of the board of directors of Roto Group, described two scenarios in his general forecast. His positive scenario involves the COVID-19 situation easing up in the long term, allowing markets to recover sooner than expected around the world. It also foresees increased restoration work.
In his negative scenario, a second global lockdown leads to economic collapse, with the result that markets head into a second nosedive, followed by new financial and currency crises. Since neither possibility can be ruled out at the moment, he expressed that there is no basis for a reliable forecast at the event.
Ultimately, however the situation develops, Roto will adapt to the resulting situation as flexibly as before, the company reports. However, the company says it will not deviate from its adopted course and implement its proven customer benefit strategy.
During what Keill refers to as the “global disruption caused by the coronavirus,” he reports that the internationally active construction supplier has performed well, increasing both sales and income and ultimately achieving all its goals. The Group hopes to achieve “ambitious aims” in 2021 as well, according to a release.
Other topical highlights from the event include:
- Keill discussed how “sobering” it seems that more or less substantial free trade limitations caused by continuing sanctions seem to still be functioning. In this field, he said that politics is lacking in “reasoning and learning abilities.” The frequent disregard for market economic principles could, in the age of COVID-19, prove fatal, according to Keill.
- Keill also expressed a skeptical view of the opinion that the world of work will fundamentally change because of the coronavirus. “I don’t see a revolution coming – it will be a process of evolution at most,” he said.
- The window industry has been affected by a specific consequence of COVID-19: the media and people around the world are becoming aware of the importance of opening windows and ensuring proper ventilation.
- Roto reports its total group sales as of Sept. 30, 2020 were higher than the corresponding figure from the previous year. The estimate that the fourth quarter of the year, as in previous years, will not result in any significant differences is a “coronavirus caveat,” according to Roto. If the situation remains relatively stable on this front, Keill projects a chance of nominal growth of almost 2 percent.