Christmas greetings from our CEO – Growth and Investments
Wed Dec 20 12:13:00 2023
The past calendar year was a year of growth and investments for Nestor Cables Ltd. Our operations expanded both domestically and in exports. Throughout the year, we made significant investments and investment decisions that will enable us to continue growing and developing our activities. These investments are also reflected in a reduced carbon footprint for our production and products.
The year has been two-fold. The first half of the year saw a period of robust growth, but after the summer, the state of the global economy has manifested in weaker demand in the industry, including for fibre optic cables. Ultimately, the construction of fibre optic networks depends on individual consumers and their decisions. With inflation at high levels and interest rates simultaneously elevated, consumers carefully consider how they allocate their diminishing financial resources. This has also resulted in a delay in consumers' decisions to connect to fibre networks. However, there is light at the end of the tunnel, and industry experts predict an improvement in the situation by no later than next spring and summer.
The ongoing Russian aggression in Ukraine continues. Nestor Cables has made donations through the Finnish Red Cross for emergency aid in Ukraine, and we hope that you also remember the Ukrainians, especially during this Christmas season. Additionally, this year, instead of customer gifts, we have directed our donations to Save the Children Finland.
I wish all our customers and partners a peaceful Christmas season and a happy New Year in 2024!
President & CEO,
Nestor Cables Ltd