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 2018, Vitec delivered a record financial performance despite some unexpected challenges. We made significant progress implementing our strategic priorities which resulted in organic growth, improved margins and good cash generation.
Our strategic priorities were unchanged in 2018 and will again be our focus for 2019: to continue to grow organically; improve margins; and to invest in new technology and markets.
Our strategic priorities
We continue to leverage our premium brands to invest selectively in faster growing market segments. We are launching innovative new products, expanding our geographical reach and growing our distribution and digital channels to get closer to our customers and take market share.
We continue to improve our operating profit margins by optimising our manufacturing and assembly portfolio, by improving productivity and channel mix, by growing the higher margin Creative Solutions Division and by making higher margin acquisitions.
We have a clear and focused M&A strategy to increase addressable markets served and further increase our higher technology capabilities to drive growth and improve margins. Our strong cash generation and robust balance sheet allows us to make progress.