The Client:
The Zumtobel Group is a leading group in the lighting industry with a global sales network. The Group generates revenues of around € 1,100 million with approximately 5,800 employees.
The Project:
The short-term departure of the CEO and CFO in combination with organizational and market challenges made a reorganization of the group of companies necessary. Management Factory took over this role immediately after the CFO left in 2018 and was instrumental in the successful reorganization of the corporate group in 2018-2021.
Highlights:
- Rapid establishment of trust with all key stakeholders.
- Reorganization of the FiCo organization into a leaner and more efficient unit with a strong team spirit
- Successful turnaround in fiscal year 2019/20 after 2 years of losses despite significant negative impact of Covid 19: reduction of overhead costs by 14% within 2 years, reduction of total assets by approx. 10%, increase of free cash flow to € 100 million, improvement of net debt/ EBITDA ratio from 2.7 to <0.9 within 3 years