Dear Shareowners
I feel delighted to address you at the end of yet another successful financial year.
The Covid-19 pandemic has cast a shadow of uncertainty and anxiety all over the worldaffecting people across all social strata. FY 2021/22 was also a challenging year for theglobal economy and overall business environment.
Even after more than two years into the pandemic the global economy still remains onhighly uncertain ground as Covid cases are still rising in some countries. I am hopefulthat if each one of us acts in a responsible manner we would be able to put this hardshipbehind us and look towards brighter healthier and safer days ahead.
It gives me immense pleasure to inform you that we have successfully delivered a strongset of financial results once again. I would like to express my appreciation and thankeveryone associated with the company who contributed in delivering such a performance.
Paper Industry being one of the oldest and core industrial manufacturing sector in theworld always acts as a mirror of socio-economic developments. The industry data now showsthat crisis and the periodical lockdowns have accelerated consumption patterns change andwill have a long-lasting impact on markets world-over. Globally also we can see thedomestic demand for hygiene papers has been relatively positive despite the COVID-19restrictions affecting the ‘away-from-home’ markets. We have also noticedincrease in packaging sanitary and household paper manufacturers output.
For all paper grades Voith provides paper production lines that are optimallycoordinated with the regional and individual needs of customers. Targeted rebuilds andmodernization measures from Voith enable the optimization of the overall machineperformance. Voith is one of the leading suppliers to the paper industry and is well knownas a reliable partner to paper producers offering world-class technology service andquality. Through improvements in manufacturing efficiencies and structural adaptationsVoith has remained competitive despite the challenging market environment.
With the backing of Voith group your company is strategically placed to provideinnovative solutionstothecustomerstomeettheirspecific requirements enabling them inmanufacturing paper in eco-friendly manner. We believe that with our consistent andproven track record of serving the customers satisfactorily we would continue to enjoytheir patronage in future as well which would in turn help us perform better in comingyears. We also believe that ‘Paper’ is the future!
In the efforts of the past and in the changes we are envisaging for the future oursource of strength is the tireless spirit of our employees. They are the ones who serveour customers and communities build the technology make the strategic decisions managethe risks determine our investments and drive innovation. Whatever your view is of theworld’s complexity and the risks and opportunities ahead having a great team ofpeople – with guts and brains and enormous capabilities who can navigate personallychallenging circumstances while dedicating themselves to professional excellence – iswhat ensures our prosperity now and in the future. I would like to thank them for theircommitment patience and hard work.
As we plan and work towards making our business more innovative by reinventing the waywe operate I seek your continued support and encouragement to take the company to nextlevel of success.
As I conclude I take this opportunity to convey my appreciation to my colleagues onthe Board for their invaluable contribution in strengthening the Company. I express mysincere thanks to all stakeholders for their unstinted cooperation. With your blessingsand support we will continue to create milestones and make you proud of your Company.
Warm regards
Benno Edmund Morlock
Chairman
