The COVID-19 pandemic has affected businesses all around the world. For Inventus Power, each day seems to come with a new set of challenges, and I am very proud of our global team for their continued dedication, flexibility, and commitment to our customers.
Since my last update on March 20th, several new developments have taken place across our global organization. I would like to share how Inventus Power is responding to safety & health recommendations, local government regulations, and market/demand fluctuations.
Employee Safety & Health
The safety and well-being of our employees are top priorities for our business. We continue to enforce a global work-from-home policy at all locations for functions that can work remotely. I am very pleased with our employees’ transition from an office to home environment. Our global IT infrastructure and support have enabled our staff to stay connected and productive.
For essential roles that remain onsite, our focus has been to ensure that our employees feel safe within their working environment. We continue to adhere to the necessary guidelines and requirements provided by the Center for Disease Control and World Health Organization. We have enhanced our cleaning and sanitization procedures, implemented additional social distancing accommodations, continued employee awareness training, maintained daily temperature screenings, and provided employees with protective equipment and sanitation supplies (i.e. face masks, antibacterial products). Our HR and Operations Management teams have done an excellent job with maintaining this new protocol and keeping lines of communication open among all our employees.
The hard work and efforts of our employees over the last quarter can be seen in our financial results. Our Q1 performance was extremely strong with 24% YOY growth. Additionally, in Q1 we achieved record order bookings and new business awards. As we progress into Q2, our business outlook for the quarter and balance of the year is forecasted to remain strong.
From a manufacturing perspective, all of our plants are open and operational:
- Qingxi, China
- Woodridge, IL USA
- Tijuana, Mexico
- Manaus, Brazil
- Senai, Malaysia
Our employees take pride in being able to contribute to the global fight against COVID-19 by producing batteries, chargers and power supplies for medical and safety products, such as ventilators, powered air purifying respirators (PAPRs) and other mission critical equipment. During these times of uncertainly, I feel fortunate that I can share some positive news about our business with our employees as well as affirm with our customers’ that we can support their increased demand.
President & CEO