Executive
Interim
Partners
Residenzstraße 27
Preysing Palais
80333 Munich
Phone: +49 89 552 7979 20
Fax: +49 89 552 7979 01
© Copyright – Executive Interim Partners
Challenges
- Negative EBITDA margin and negative cash flow
- Lack of reporting transparency at all levels
- Inefficient operational processes
- Existing complexity and cost structures
- Personnel costs not adjusted in light of weak profitability
- Highly diversified product portfolio
Approach
- Appointment of an interim Chief Restructuring / Transformation Officer
- Development of a restructuring concept
- Implementation of liquidity safeguarding measures
- Negotiations with the banking pool and shareholders for refinancing the company
- Establishment of a program office
- Restructuring and implementation of cost reduction and liquidity-enhancing measures
- Transformation of the business model
- Preparation and support for the sale of the company
Selected Results
- Successful development and implementation of a restructuring and turnaround plan
- Reduction in personnel costs (20% reduction in workforce)
- Development of a new strategy: Focus and invest in proprietary brands instead of distribution brands. Increase in volume by 54% for the most important brand
- Accelerated value growth with key export business partners; export to 70 countries
- Introduction of a project management organization (PMO) to manage the turnaround process
- Implementation of 88 cost-saving initiatives in procurement, marketing, supply chain, and reduction of overhead costs
- Sustainable improvement in profitability from negative (minus 7%) to positive EBIT margin (plus 2%)
- Successful sale to a leading private equity firm (CVC) with a very attractive EBITDA multiple
Further Challenges
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