Elektron - where is the journey going?

Hello Enrico - or Rico - which do you actually prefer?

(Laughs) I like both. I always say that good friends and old acquaintances call me Rico and others call me Enrico. This answer usually confuses the people who ask. In the end, you have to choose one yourself, which amuses me.

So I'll stick with Enrico then :)
Let's start with my first question: You've been CEO of Elektron for 12 years now - I've never been with the same company for more than 2 years. So that sounds like a very long time to me. How do you feel about that?

Yes, you're absolutely right, but it doesn't seem like such a long time. The years have flown by. You know that feeling when you're engrossed in something and suddenly realize how quickly time has passed. That's how I feel when I think about it.

Yes, yes. But doesn't it - even as CEO - get boring at some point?

The continuous development of our organization is my great passion. In twelve years, no two days have been the same. As Elektron has four different business units and three subsidiaries, being CEO at Elektron is an extremely exciting and varied job. I love working with my teams to develop the various challenges for the future.

Okay, I see. Did you succeed in everything you set out to do?

Of course not. I also had to put up with setbacks and admit to myself that some projects didn't bring the success I had hoped for. Out of ten good ideas, perhaps only one will make it to a successful breakthrough. That's why it's so important that we never stop trying out new things and critically questioning whether our business models are still up to date. As a restless visionary, I am firmly convinced that it is better to be a few times too early with our ideas than once far too late. At the same time, I am also aware that my constant forward momentum is not always easy for my employees, but that is how I interpret my role as CEO.

Keyword employees: What kind of collaboration do you have?

I think it's great that you mention this, because without them, our success would not be possible. In short, the employees are definitely the best thing Elektron has to offer, and that's not just an empty phrase. I love it when all of our employees feel comfortable at work and you can really feel that, for example, in a meeting with customers or suppliers. Moments like that make me incredibly proud.

True! I've felt that too. Do you have any tips on how to achieve this kind of motivation among employees?

It's great if you notice that too! Respectful treatment, a generally high level of appreciation, a high degree of independence and active teamwork. I often say that every one of our employees makes their job what it is. We are a well-balanced, successful team in which everyone treats each other as equals. If someone in the team doesn't feel comfortable, this must be addressed and clarified immediately. We don't have egotistical careerists with their own agenda, and if we did, they certainly wouldn't stay with us for long.

Do you think that our ownership structure also contributes to the high motivation of our employees?

This is definitely also a very important factor. We all have an indirect stake in the company via the welfare fund, which is the sole shareholder of Elektron AG. If we do business successfully, all employees benefit. In a good year, you can receive 14 monthly salaries via the profit-sharing scheme, which also has a very positive effect on motivation.

Not bad. Does the welfare fund bring any other benefits for employees?

Of course. Above all, our own pension fund, which still has a defined benefit plan, is uniquely attractive with its benefits. We also have our own staff restaurant, where employees can enjoy a healthy lunch at preferential prices. We also pay a higher employer contribution to social benefits and there is an individual premium account with preferential interest rates.

Great! And I'm pleasantly surprised by our staff restaurant every day. Now I also understand why we have so many long-serving employees ;)
Back to business: what has changed the most in the twelve years you've been CEO?

Hmm, that's an interesting question. Well, the technological development in this era has been really impressive and has increased complexity enormously. When I started at Elektron, we were still a traditional hardware retailer. Today, however, we are a provider of software-supported system solutions. Digitalization has opened up numerous new opportunities for us, whether in terms of our service offerings or our internal tools and processes. This transformation was not always easy, but we were only able to master it thanks to a corporate culture of willingness to change and openness to new technologies. I am firmly convinced that this transformation has also made us much more efficient. That is why we are in a much better position today in all areas than we were before.

Can you give an example of this?

With pleasure. Let's take the example of street lights. We used to sell discharge lamps and customize luminaires in our workshop. Then came LED technology and with it the possibility of parameterizing the luminaires via software and controlling them dynamically using sensor technologies. Today, more than half of the new luminaires we sell have an internet connection and we provide remote maintenance for our customers throughout their entire life cycle via our Service and Operations Center.

That actually sounds very exciting. What will happen in the future?

Smart City is becoming more and more real. Soon, all street lighting systems will be controlled online via a software platform. Thanks to a variety of data information, operation will be optimized in such a way that energy consumption, light emissions and the cost of fault and maintenance services can be significantly reduced once again. We will also no longer simply replace the expensively manufactured luminaires with new ones, but will refurbish high-quality housings and bring the interior back up to the latest technological standards. Only with a clever circular and product strategy can we actively support the climate targets that are so important.

Makes perfect sense. What else are we doing in terms of climate protection?

We are very actively supporting consistent electrification, which is so important for achieving the climate targets. This starts with the rapid expansion of solar energy. Our subsidiaries install more than 200 solar systems per year. With our storage systems, we are promoting an increase in energy self-sufficiency. And with our inverters, we convert the clean electricity, use it to power efficient electric motors and new heat pumps, charge electric vehicles or activate washing machines in communal laundry rooms. Quite simply, our name says it all and stands for a variety of meaningful electric(e) initiatives that support rapid decarbonization.

So we are fully committed to a climate-friendly future. We can't do it all on our own, can we?

In order to achieve this goal, we are working closely with leading global technology manufacturers. We see ourselves as an extension of these companies and enrich their products with our engineering expertise in order to meet the demanding needs of our customers in the energy, building and industrial sectors as a provider of intelligent energy management solutions.

This is why we have grown so quickly in recent years

Also, but not only. We have also been based in Austria for four years with a rapidly growing subsidiary. Last year, we also took over a solar installation company in both Austria and Switzerland, which continue to install solar systems, heat pumps and EV charging infrastructure under their own name. In selected parts of Austria, we also install and maintain street lighting.

Is this the end of our growth phase?

No, we are in the middle of implementing our growth strategy and are continuing to expand our market position across the board. Just as quickly as our organization allows and without any negative impact on our existing core business and working environment. I really enjoy seeing how quickly and prosperously our company is currently developing.

A lot has really happened. Then I look forward to many more exciting developments. Are there any things that haven't changed over the years?

The close personal customer relationship has always been of central importance to us. Even in an increasingly digitalized world, we are a company that has never neglected the human aspect. Our employees often build long-standing, trusting relationships with our customers that are almost like friendships. And that only confirms what I said at the beginning: Everything we have achieved is based on the passionate commitment and dedication of our employees to the needs of our customers. In general, we are fortunate to have many long-serving employees at Elektron, which makes us very happy.

Well said! But enough about work: how do you balance your work and what are your personal plans?

In order to have a good balance to my top-heavy work, I often work in our house and garden or go jogging through the beautiful nature at Obersee. And a few weeks ago, I ran my first marathon. I assume it won't be the last. It excites me to set myself new challenging goals and work towards them.

Enrico, thank you for your interesting explanations and the interview!