Our target is to achieve profitable growth in the fiber-based solutions market, which offers a positive growth outlook and is supported by sustainable market drivers. Our mission is to provide sustainable and innovative fiber-based solutions. By implementing the four cornerstones of our strategy – Local Accountability, Efficiency and Agility, Customer Value, and Profitable Growth – we can fulfil our vision of being a global leader in those chosen growth segments and achieve our financial targets.
- Using a business-based operating model that promotes local accountability and profit responsibility enables flexibility and builds on a shared common culture
- Efficiently utilizing the global common platform as well as the flexible and agile operating model
- Delivering customer value through superior quality, advanced technology, deep know-how and tailored services
- Ability to grow in selected niches of the fiber-based solutions segment
Strategic transformation progresses under exceptional circumstances
We started the year 2020 with a new structure and organization, which was put in place as a natural next step in
finalizing the integration of major acquisitions from the prior years. The organizational structure promotes core business capabilities and align business characteristics and targets of each business area. It enables us to strengthen capabilities in areas of product development and innovation, global key customer account management and service, product and production technology as well as process improvement and production optimization. So far the new structure has brought with it production-related benefits.
We continued to pursue our commercial strategy and were able to improve our comparable EBITDA margin. This was supported by a more favorable raw material and energy prices environment as well as delivering on the cost savings
through our own actions. We managed also partly offsetting the challenging demand environment by quickly expanding production of face mask materials to production lines around the world that were normally used to manufacture other products. This was a needed filler to our production that would have otherwise been left unutilized. It was very much thanks to our early and agile response to the pandemic that we were able to keep our plants operational throughout the year with some minor and short-term exceptions.
During the year we also launched a new strategic initiative to improve cross-business collaboration, called the Flexible Asset Model. Initially focused on optimization opportunities, it has also proven effective for cross-business knowledge and technology sharing. With learning and development support from the Group, our businesses have ideated on a strong pipeline of additional potential synergies to be tested and implemented for novel value creation.