Preparing for transformation by restoring the fundamentals of a construction and public works group

Category:

Strategy

Context

A major player in professional distribution for the construction sector was severely weakened by the COVID crisis, compounded by an internal shareholder dispute.
Once the capital structure was stabilised, the top priority became quickly restoring the Group’s financial fundamentals, with one imperative: regain budgetary flexibility within one year.

Approach and methodology

  • Implementation of a short-term restructuring approach;
  • Use of the BBZ methodology to structure and manage recovery actions;
  • Application of the TMO (Transformation Management Office) framework to plan the upcoming transformation.

Objective

  • Lead an ambitious Group-wide cost reduction programme;
  • Prepare the foundations for a broader strategic transformation.

Results Achieved

  • 2021 budgetary cost reduction targets were significantly exceeded;
  • The transformation programme was finalised and prepared for smooth implementation.