It's time to go from ”Stand by” to ”Drive” mode
The media is flooded worldwide with gloomy news about the consequences of COVID-19 - the human, social and not least the socio-economic. The business community is affected, including the automotive aftermarket, and it has also been felt at Triscan. Despite the fact that the expected second wave of the pandemic is rolling right now, and the spread of infection in many countries is unfortunately worrying, our industry has stabilized again. We therefore believe in progress again and a return to more normal market conditions.
After a satisfactory first quarter of the year, we, like most, experienced a declining level of turnover at the beginning of the second quarter. The uncertainty regarding the consequences of the COVID-19 situation led to a great deal of uncertainty for future market developments. Against this background - and with great support from the entire Triscan team - we quickly implemented necessary cost savings widely throughout the company. 30% of the Danish workforce was sent home on the Danish "wage compensation scheme" and among our German colleagues we introduced "Kurzzeit" (reduced working hours). Despite the above, we were unfortunately forced to adjust the number of employees just before the summer holidays.
After a quarter with a reduced workforce, we are pleased to see that we have managed to maintain a high level of service, a high delivery capacity and even introduce a considerable number of new references.
As we have also experienced a steady increase in turnover after the summer holidays - and are back to a normal level - we are again optimistic about the future. As a consequence thereof, we have decided to increase our stocks in Denmark and Germany and prepare for the launch of even more product groups and digital solutions.
We have just recruited two new employees. Morten Kjeldahl Vammen is employed as commercial director and Kristoffer Drejer, who returns to Triscan after 1½ years at slimstock, is employed as a systems specialist in our IT department.
With these recruitments we have, strengthened our platform to continue the journey towards increased digitalisation, strengthen our team and our ability to develop IT solutions for our customers. Moreover, we want to improve quality, know-how and service when it comes to our traditional products and - and remain being a leader in this field.
We hope that the COVID-19 situation remains under control - and believe that the market situation in the future will be characterized by stabilization and growth. We also hope that this development will benefit all our customers, suppliers and partners, so that we all come out well on the other side.