On a regular basis, we will inform you on how the situation evolves during the Covid-19 pandemic.
Covid-19 update - May 7, 2020
Social distancing and video conferencing
Already six weeks have passed since we introduced social distancing measures on the shop floor and organized home work for administrative personnel. The measures allowed us to stay active during this challenging period, and have prevented virus spread among our staff.
We organized ourselves to better guide our staff in respecting the measures in the coming months. Our investment in qualitative video conferencing hardware and software enables our remotely working colleagues to stay connected with the rest of the team. We also attached signs that remind them to keep sufficient distance at all times.
I am very grateful towards our employees who have shown resilience and acceptation of the new situation. Together, they made it possible to ensure the continuation of our operations.
Your reliable motor partner. No matter what.
Unfortunately, this exceptional corona period reduces our order intake. We anticipate that this business downturn will last for several more months. The temporary unemployment scheme that we currently apply, enables us to quickly ramp up production as soon as the economic activity picks up again.
Our conservative debt position and strong equity now turn out to be advantageous in the current situation. We are and will continue to be your reliable motor partner!
Stay healthy.
Tom Paesmans Managing Director
Covid-19 update - March 27, 2020
During the past weeks, Elnor has succeeded in ensuring uninterrupted business continuity throughout the Covid-19 pandemic period. We realized this by implementing home work for administrative personnel and social distancing measures on the factory shop floor.
The investments in digitization and shop floor restructuring over the past year facilitated the implementation of these changes.
The Belgian government has installed several measures to support companies in these difficult times. Generalized temporary unemployment for workers and staff avoid layoffs and reduce personnel costs. In addition, the government - in collaboration with the banks - is rolling out a mechanism for postponing debt.
Elnor has always taken a conservative approach to bank financing and is financially healthy. Undoubtedly this will be a very difficult period, but we are well prepared to successfully tackle the challenges ahead.
Tom Paesmans
Managing Director