Edward Hughes, Chairman & CEO, Aculon, Inc.

After a strong first quarter of 2020, five months followed of considerable interference with the daily work routine, due to the corona pandemic. Sales and incoming orders slumped significantly.

Since September, a strong demand, particularly from the energy sector - converters, batteries and e-mobility - has caused a significant revival and the corresponding adjustment of capacities. If there is no further setback, we expect a year-on-year decline in sales of around 5%. Thanks to our solid corporate philosophy, this difficult phase has never threatened our existence.

An all-clear appears to be too early. The number of new COVID-19 cases which is still on the rise as of today (November 11, 2020), must be reassessed on a daily basis. The acquisition of new customers is only possible to a very limited extent, and new business already initiated, especially in Asia, is difficult to close, despite all possibilities of virtual communication.

Expansion plans in South East Asia are virtually on ice. This is not really possible without the personal presence. But there will also be a time after Corona, when we, together with our customers from the electronics industry, will quickly find our way back on the road to success. We remain confident!