Esseco Industrial’s Third meeting of 2024 was held in the small town of Orta San Giulio, along the shores of Lake Orta, in the Italian province of Novara.
Eng. Roberto Vagheggi, General Manager of Esseco Industrial and CEO of the chlor-alkali division, led discussions among leaders from the Group Companies worldwide.
The main focus of the session was advancing vertical integration and introducing new products with synergies across the division’s companies. These elements are the cornerstones of the strategic approach initiated in November 2021, which have already yielded outstanding results.
Presentations were centred around updates on M&A operations, energy consumption, focusing on the next steps for industrial decarbonisation, and the roadmap for IT and financial governance.
Vagheggi introduced a new approach to measuring economic and financial performance, inspired by investor Warren Buffett’s perspective. Buffett challenges EBITDA as it often fails to reflect a company’s true financial performance, overlooking capital expenditures and changes in working capital. Consequently, Esseco Industrial is enhancing its financial reporting to provide a clearer picture of sales performance that includes all fixed production costs associated with each product. This approach aims to better identify products that do not generate cash flow, allowing financial governance to adapt accordingly.
Leaders of round table discussions, presented their “growth projects,” detailing how each initiative will support the future growth of the companies over the next 3-4 years. Each project is being given a budget to ensure its realisation.
Overall, the expertise and awareness within Esseco Industrial companies continue to grow in the pursuit of synergy. Progress is being made with creativity, courage, and innovation, listening closely to customer needs and recognising that by working together, greater distances can be covered more swiftly. The goal is to foster a team-oriented mindset that maximises synergies.
“The third Esseco Industrial meeting of 2024 focused on synergies, integration and true collaboration between Group Companies and more importantly our customers base worldwide. Esseco UK will continue to adopt and drive these strategic principles within our areas of influence in synergy and integration with the wider Esseco Group” said Ruggero Pellegrin, Manager Director and Site Director of Esseco UK.
