The client:

Kremsmüller is among the biggest Austrian industrial plant construction companes with numerous locations and subsidiaries in Austria, Germany and Romania. The family-owned Kremsmüller Group has about 1.800 employees plus circa 500 contract workers. In 2018 services (54 %) and projekts (46 %) accounted for consolidated turnover of € 268 million.

 After a period of strong expansion from 2008 to 2013 sales were declining in 2017. Costs of overhead were high, the level of pre-financing was rising, and the company’s structures and processes weren’t designed for further growth. Therefore the Kremsmüller family employed the Management Factory in order to restructure the company in a fundamental way.

The project:

In the last quarter of 2017 the Management Factory developed a restructuring plan in accordance with the owner. In 2018 the Management Factory assumed the newly designed position of CFO on an interimistic basis. Apart from the reorganization of the group the CFO was in charge of all service centers (accounting, controlling, IT, HR, personell allocation, payroll accouting, purchasing deparement, facility management, magazine and the car repair workshop). A second manager of the Managemetn Factory supported the controlling team in designing and implementing new instruments and routines. In November 2018 the Management Factory took part in recruiting a new CEO and a new CFO. Orientation and handing over took place in March / April 2019.

Highlights:

  • Implementation liquidity planning, contribution costing and short-term earning Statement
  • New organizational structure with a separation of the service business and the project business
  • Implementation of new meeting routines
  • Enduring reduction of overhead expenses
  • New costing modell incl. approval process
  • General settlement regarding a large-scale project
  • Implementation of a budgeting process, of investment planning and of forecasting routines
  • Return to profitability
  • Launch of multiple internal projects for further organizational development (strategy, process enhancement and personnel development)
WHAT OUR CLIENTS SAY
© 2021 MANAGEMENT FACTORY Corporate Advisory GmbH