In this first newsletter of the year, we’d like to share with you a quick "rewind" of our activity in 2010, and a "crystal ball" view of what we believe 2011 will hold.

First, the numbers. They’re not the most important part of our activity, but they do magic in summarizing a year’s successes and problems, very briefly.

Although the final numbers are not yet available, we have good indications that Efacec Automation has closed the year globally with above 61M€/79MUSD of new bookings, and 55M€/72MUSD of revenues. This represents a jump of +10%, and +19% respectively, over the 2009 figures.

Of this 61M€/79MUSD of new bookings, 82% are from outside Portugal. Today, we are truly a Global Business.

For 2011, we have again budgeted double-digit growth, on both new bookings and revenues.

Secondly, and most importantly, our customers. In 2010, we strived to fulfill the expectations of our existing customers, and managed to acquire the confidence of many new customers. We received new orders from over 50 countries around the world in 2010 alone, adding a few new ones to our existing references: France and India to name a couple.

We will do all that is within our reach, to maintain our customers trust in 2011.

The Electrical Energy sector is changing very rapidly, and is expected to do more so in the coming years. In a usually conservative sector that now faces new entrants every day,  we will continue to seek the right balance between innovation in our products and solutions, and maintaining a high degree of quality, performance and availability. These are widely perceived as Efacec’s attributes in the marketplace. Again, the key will be trust, and our dedication to deserving that trust.

Thirdly, our product and solutions offerings. In 2010, we planted what we believe are the roots of a complete portfolio revolution, to be completed in 2011 and 2012.

We plan to arrive at the end of 2011 with a broader, more modern portfolio, and with a shared vision between our US and Portuguese offerings.

This will demand a huge effort from our colleagues: the R&D team first; and then joined by our Commercial, Marketing and Engineering teams.

Fourthly, our colleagues. We started this automation adventure in both Portugal and the US at more or less the same time - 30 years ago - and with about the same number of people in both operations.

Since that time, many more people have joined the business, and now we number over 350 worldwide. Many of our colleagues have spent most of their adult life working for Efacec in this activity.

Efacec is also known for being a good engineering school. For the young people that join us every year, we can make only a firm promise: you will leave Efacec…eventually…a much richer and more complete professional than you were when you entered. This we know for sure.

But it will not be "a walk in the park". Being successful, in a competitive and globalized economy, competing against companies several times our size, does not come without a price: "wearing the Efacec shirt" with all its costs, in terms of hours of work and dedication, sometimes requires time away from our families and hobbies.

We must do our part to continue growing Efacec’s business, and give our small contribution to the good name of our economy, in the Global landscape.