N&M ‘optimistic’ about prospects for 2024
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The conclusion reached by the N&M managing board was that, following the disruptions caused by the corona pandemic, the company is now on an "absolutely stable long-term course". In view of this assessment, the shareholders of the service provider for technology for live communication expressed their confidence in the management.
Following on from a period lasting almost three years in which the event sector was forced to absorb considerable losses due to the COVID19 pandemic, commissioning has picked up significantly in the current fiscal year.
N&M can also look back on 2023 with satisfaction: "We are on an absolutely stable long-term course," said Christoph Rupieper, the director in charge of financial affairs. "Our planning for 2023 once again envisaged turnovers in the three-digit million range. We reached this target across the board – and some areas even exceeded their targets for the year. We continue to be firmly established as one of the leading companies in the market."
At the autumn meeting of N&M shareholders in mid-November, the managing board also presented the prospects for the coming year. And the forecast is also extremely positive: "Potential projects announced by our clients so far for 2024 already exceed our turnover for 2023." In view of the fact that this tendency is set to continue in the reinvigorated live communication sector, N&M is looking forward to the coming year with considerable optimism.
Thomas Epple, the company's director in charge of corporate and organisational development, remarked on a further consequence of the pandemic: namely the lack of qualified personnel, an issue that continues to challenge the sector to this day. "As we were able to anticipate this development and take timely action, we have managed to adapt very well to the situation on the personnel market." N&M has hired over 250 skilled workers – mostly event technicians – since the upturn in the event business following the crisis. Summing up the situation, Epple said: "We have good staffing levels for 2024."
While N&M has managed to catch up to pre-COVID levels in the event business in particular, other attractive technical services are also increasingly contributing to the company's success: "For example, we have expanded our venue services, a sector in which we have been able to convince our clients of the economic benefits of transferring responsibility for technical equipment at their locations to N&M," reports Torsten Jacobs, the director in charge of sales activities and customer acquisition.
He added that N&M had landed further service partner contracts this year as a result of its offers to the trade fair centres in Nuremberg and, more recently, in Hamburg. This means that exhibitors and their service providers can now also call on N&M's full range of services at these locations.
At the meeting, N&M's shareholders expressed their confidence in the management and voted unanimously to continue their common path as partners.
