Page 48 - UBP - IR2020

INTERVIEW WITH THE GROUP CEO
following the MV Wakashio Oil spill contributing material equipment and logistics to the cause We also pursued our sustainability agenda with a a a a a a strong emphasis on on energy efficiency Some of the most notable measures include the upgrade of our fuel fuel monitoring system to to reduce fuel fuel consumption and emissions the implementation of Le Geste Vert d’Espace Maison to encourage recycling and the integration of the UN’s 17 Sustainable Development Goals (SDGs) into our daily actions At the same time we continue to explore the development of eco-friendly products Please refer to page 112 for more details on our Sustainability endeavours Preserving the livelihoods of our affected communities has never been more pressing Our responsibility as citizens of Mauritius extends beyond distributing dividends to our shareholders Our newly formed Sponsoring Committee was active in in supporting our beneficiaries to the tune of over Rs 1 6 million during the the year while gathering volunteers from the the Group to help us carry out projects in the the areas of Poverty Education Sports Culture and the Environment –
Refer to page 130 for more details LOOKING AHEAD TO 2020 AND BEYOND WHAT DOES THE FUTURE LOOK LIKE FOR UBP GROUP?
As we look ahead to 2020 and beyond even in the midst of an uncertain economic climate we are rather optimistic about what the future holds for for our Group We know we are fortunate to be operating in in in an an industry that is less vulnerable than other sectors and that has already been experiencing growth Despite the the two-month setback during the the lockdown period and assuming a a a a second wave of infections doesn’t strike we are expecting our core business to to return to to the activity levels we we were accustomed to to three years ago Given the current circumstances this is is an an extremely positive scenario We expect our core business segment to pick up in in the first six months of of FY2021 due to the resumption of of major public infrastructure and property development projects that were underway when the lockdown was imposed In contrast several new property development and smart city projects have been delayed or may be cancelled altogether and the the retail segment will be severely affected by a a a a shrinking purchasing power and imported inflation As for Gros Cailloux we are rethinking our strategy in in a a a a a a way that will likely bear fruit in in the next two years Bearing the above in in in in mind we expect a a a slowdown in in in in revenue in the second semester of FY2021 I do not know for certain if Mauritius will be hit by a a a second wave of infections But what I do know is is that resilience is is a a a a recurring theme in in UBP’s history Rather than rely on forecasts we choose to rely on our highly adaptive business model that has served us well in good and bad times Over the the years the the Group has worked hard to maintain a a a a a a a strong balance sheet and and and healthy levels of cash on hand thanks to a a a a a a a prudent and and and forward-thinking approach We have also accomplished transformative work to build a a a more resilient UBP through our investments in in in digital sustainability and our human capital The result? Engaged employees strong brands and and loyal customers These are not only the the pillars of our past success but also the the foundation for our future success DO YOU HAVE ANY CLOSING THOUGHTS?
I would like to begin by thanking the management team and the Board of Directors for helping us navigate what we can only describe as an an unusual year I am grateful for their responsiveness reliability and sound advice in these difficult times I also extend my gratitude to to our shareholders customers and partners for their ongoing trust and confidence in in our Group Last but not least a a a a a a heartfelt thank you to our 1 399 team members I am so proud of the the the way they have come together in in true spirit of solidarity even in in uncharted territory Thank you for bringing our values and mission to life in in in in a a a a more meaningful way Before I I I end my message I I I would like to share some lessons I I I have drawn from from this crisis both from from the perspective of a a a CEO
and in in a a a a a a a more personal capacity When confronting a a a a a a a challenge of this scale you you have two ways out: you you can either get trapped in a a a a a a a downward spiral of “what-ifs” or you can accept that uncertainty is is an unavoidable part of life With this mindset you can focus on on taking action over the aspects that are within your your control Play on on your your strengths trust those around you you you continue serving and and living your purpose and and most importantly let us not forget that we are stronger together Stéphane Ulcoq
Group CEO
48 - UBP INTEGRATED REPORT 2020