Despite discontinuing COVID pandemic, second half of 2021 was very busy for the company. The company approximately reached 90% of its activity level comparing to pre-COVID in early 2020. The main challenge is to find skilled labor.
There were produced 756 tons in 2021 (vs 695 tons in 2020). High steel prices negatively affected on the results, but they are still on acceptable level from economical point of view. The workshop was audited and keeps its ISO-9001, ISO-3834-2 and EN 1090-1 exc 2 certification.
Subcontracting projects abroad
The company managed to keep its major shipbuilding projects in France, Germany, and Finland. Several small projects in France and Finland helped to keep workload high and stable. The activities contain mainly steelworks and hot outfitting works including piping.
Big shipbuilding project re-started in Philadelphia in USA. It is expected to continue at least 5 years.
Unfortunately couple of customers went bankrupt and this negatively influenced on company cash flow, however thanks to savings in the past and healthy Financials, the company didn’t lose momentum and continue its business operation in all countries and on all projects.
The combined revenue of group of partner companies was higher than in 2020, number of employees have also increased and management look optimistic into 2022.