Editorial - January 2012

Assessment of 2011 and Perspectives in 2012
For the MCSA Group, 2011 was highlighted by:
• solid recovery as shown by the rise in turnover from 22 M€ in 2010 to 25 M€ (preliminary figure) in 2011, representing an average increase of 13% after 2 years of crisis
• the progressive development of our two most recent subsidiaries, MCSA 2E and MCSA TUNIS
• difficulties encountered with the performance of certain suppliers, occasionally slowing down the pace of recovery
The objectives defined for the MCSA Group in 2012 include:
• Pursuing efforts to remain close to our clients and anticipate their needs, so that MCSA reinforces its role as a reliable solution finder able to meet their requirements.
• Confirming the strong improvement in our profitability and productivity, particularly with:
o the implementation of new tools, once again showing our attachment to a dynamic and on-going investment policy
o improvement in our Industrial Excellence initiatives
o increased utilisation of our subsidiary MCSA TUNIS
• Accompanying and keeping a close eye on the present intensive supply chain activity since the causes of external disruptions in 2011 have not all been eliminated.
Generally speaking, we expect continued growth in 2012 but at a more moderate rate than in 2011. Indeed, in the current morose economic environment, our main business sector, the Aviation industry, is still benefitting from positive momentum. We do not believe that 2012 will be an easy year, but the future is in our hands, and we have both the energy and the expertise to make it a successful year.
M. Victor Despature (MCSA CEO), the entire MCSA workforce and myself would like to wish you an excellent year in 2012!
François AMIOT
MCSA Deputy Managing Director
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