We hosted the new CEO Magnus Lönn this morning Strategy to replicate the Nordic & Baltics success to other regions Focus on margin improvements short-term, M&A and growth long-term
ANNONS
Solid first impression
This morning we hosted Proact's new CEO Magnus Lönn in our office to present yesterday's report, which was also his first quarterly report as CEO since 1 March. Although the report showed some weakness in the German and Dutch markets, Mr. Lönn was clear that Proact's path forward is to capitalise on the increasing demand for data storage and protection of business-critical information, driven by both AI and cybersecurity tailwinds. To address the weakness in Germany and the Netherlands, cost reductions are being implemented and some full outsourcing contracts are potentially at risk of being lost, as Mr. Lönn believes that these lower value-added projects are not for Proact and that this market is also currently facing tough competition from local players with aggressive pricing strategies. Proact's success story has been the Nordics & Baltics region, which Mr. Lönn has headed since July 2022. His strategy is to replicate the Nordic strengths in the other business units, which in our view makes the upcoming journey credible. All in all, we conclude that Mr. Lönn has made a solid impression, has good experience from the IT market since 1999 and has a clear vision of where he wants to take Proact.
