Vitec's strategy is to focus on the "image capture and content creation" market.
Vitec operates in the fast moving and growing “image capture and content creation” market. The overall market is an attractive one, with growth driven by the proliferation of image capture and sharing among an ever increasing number of content creators.
In 2019, Vitec delivered a robust financial performance despite being impacted by two, specific, one-off events. We made significant progress against our strategic objectives.
Our strategic priorities were unchanged in 2019 and continue to remain appropriate so will again be our priorities for the medium-term: to drive organic growth; improve margins; and to invest in new technology and markets.
Vitec is a strong, agile business and the Group’s market-leading brands, operational excellence and sustained technology innovation make us uniquely positioned to take advantage of the fast-changing and growing global “image capture and content creation” market, and to deliver long-term value to our shareholders.
- “Image capture and content creation” market will return to growth
- Robust financial position, long-term financing and short-term flexibility
- Well positioned for medium-term organic growth post COVID-19
- Market-leading brands with premium pricing, increasing technology capability
- Medium-term M&A opportunities
Our strategy for long-term growth and value creation remains just as relevant as it was before the crisis
Our strategic priorities
We leverage our premium brands by investing selectively in faster growing market segments. We launch innovative new products, expand our geographical reach and maximise our distribution and digital channels to get closer to our customers and increase market share.
We are focused on improving our operating profit margins by optimising our manufacturing and assembly portfolio, by improving productivity and channel mix, and from capturing synergies from acquisitions.
We have a clear and focused M&A strategy to increase addressable markets served and further increase our higher technology capabilities. Our strong cash generation and robust balance sheet allow us to make progress.