Managing Director Dave Barber had this message for colleagues at the 2023 Commercial Conference: Let’s own it!
Held at the Leicester Marriott Hotel, the event was an opportunity to review progress in 2022 and set out the key priorities for the coming year in what is expected to be a challenging period for the industry.
Dave said: “The coming year is all about everyone in the organisation taking hold of their area of responsibility and really owning it!
“We’re all aware of external forces such as rising energy prices and the wider issue of inflation that are combining to make life difficult for people and businesses.
“But we truly believe that, by empowering our people to go out there and make a success of their own piece of Ideal Standard, we can outperform the industry and achieve ambitious growth in 2023.”
Beginning with a recap of 2022, Finance Director Rachel Whittaker highlighted sales growth against 2021 which beat industry performance when customer destocking was taken into account, as well as huge improvements in overdue orders and on time, in full deliveries in Q4.
She highlighted growth in the independents and export channels, and an outstanding performance in Ireland which included growth versus 2021 and overachievement of 2022 targets.
However, profits for the UK business as a whole were hit by higher costs driven by inflation which was four times higher than predicted across Europe.
Dave also said: “Priorities for the business in 2022 have been Service and People, these are both paramount to delivering our AOP in 2023.
"More will be communicated in the coming weeks on the outputs of the New Street Survey findings that kicked off our people strategy, Ideal People.”
Supply chain director Adrian Storr shared how much effort had been put into focusing on the customer journey and improving how our products are delivered and presented, while improving the results of our delivery partners. This focus from the whole supply chain team and customer services teams will continue into 2023.
Priorities for 2023 include 10 key growth initiatives, with a major focus on our SPO (Smart Premium Offer) ceramics, the non-residential portfolio and pre-wall frames. Significant sales increases are also being targeted in SPO fittings, showering and furniture as part of a bigger plan to grow our fittings share. The other initiatives include Atelier, Silk Black, Ultraflat and Kitchen.
Marketing Director Leanne Martin shared details behind the 10 initiatives, presenting the marketing materials and events that will support this year’s activity.
Leanne said: “We have an amazingly exciting program of events this year, opening with the international pop-up in Venice, Aesth|ethics, which will not just focus on the beauty and design of our products but also how we are presenting our sustainability efforts. These will be followed by a number of local pop-ups in the UK.”
Summarising the year ahead, Dave said: “We are in an excellent position as the market leader in our industry to strengthen our core business and continue to develop in areas where there is so much potential for us.
“We go into this period on the back of a raft of new product introductions that are already performing well and an improved service proposition which is making customers sit up and take notice. We need to own the market, own our competitors and own our numbers. We are Ideal Standard."
Ideal | Own it!
The key points of the conference will be cascaded in a series of mini-conferences in early February.