“No year is ever without its challenges, but Kramp tackled them effectively in 2023,” says Eddie Perdok, our Chief Executive Officer. Here, he reflects on the key highlights of 2023 and looks ahead to 2024.
“Dealers and farmers faced uncertainties and economic pressure in 2023. Inflation led to cost increases, which made them more cautious about spending. This was an important reason why our revenue ended up lower than expected. However, we managed this challenge well,” states Eddie. “In addition, we were pleased to see accelerated growth in construction, and also in the forest & grass care market, where our renewed focus two years ago is now really starting to pay off. As a result, we ended 2023 with a 4.9% increase in turnover and an improvement in profit compared to the previous year.”
“As a family business, we think in terms of generations rather than financial quarters or years”
Eddie Perdok
Long-term focus as a family business
“Needless to say, we always strive to achieve the ambitious annual financial goals we set ourselves. However, as a family business, we think in terms of generations rather than financial quarters or years. Our primary objective is to build a stable and secure long-term future for our customers, suppliers and employees, supported by our Corporate Social Responsibility agenda,” explains Eddie.
Technology and strategic partnerships are key factors for success
“To ensure success, we focus on improving our value proposition year on year to help our customers grow and develop their own business. Technology was a key enabler of this in 2023, helping us to make further improvements to all aspects of the customer experience. From product range and findability to stock availability, pricing, speed of delivery, customer service and support,” he adds. “And as a digital-first company, technology will continue to play an important role.”
”By working together with partners, we can mutually strengthen our positions in the value chain. I was happy to see the rapid success of our new partnership with leading manufacturer Husqvarna last year, which resulted in our collaboration being significantly scaled up after just six months,” comments Eddie.
“Acquisitions are another valuable way of strengthening our position in specific categories and countries. In that context, our acquisition of Genfitt – a wholesaler of agricultural parts in Ireland – was a highlight in 2023. With its strong team of motivated people, the company is an excellent cultural fit with Kramp. Now that we’ve joined forces, existing and new customers in Ireland can benefit from a significantly extended assortment of products and great delivery service of Kramp,” he adds.
“An important change was the official termination of our business in Russia, marking the end of a long process that was initiated in 2022. I am pleased that we have found a new owner for the Russian company, ensuring continuity for the people who have been working for Kramp there for the past 15 years,” Eddie continues.
Facing future challenges with ambition and leadership
“Another change is that Hans Scholten recently stepped down as Chief Financial Officer. He has provided incredible leadership over the past 24 years. Although Hans will remain connected to Kramp as a shareholder, he has now handed over the CFO baton to Roeland Tjebbes. With his wealth of experience, ambitious nature and connective leadership, Roeland is an ideal fit with Kramp,” states Eddie.
“Looking ahead, we are very well positioned to face future challenges. We will continue tapping into new opportunities, embracing technological and sustainable solutions, and maintaining our personal approach. By doing so, we can strengthen our role as a reliable and trusted partner to our customers, suppliers and employees, and continue to empower them to move forward,” he concludes.
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