Management have established a target to grow Group revenues by over 20% per annum through establishing operations in Africa and widening its project delivery services to its clients.
Erbacon's medium-term strategy is to be a "Best-in Class" contractor in the heavy civil engineering construction and commercial and industrial building services.
A "Best-in-Class" strategy requires a focus on three key areas of the business:
Erbacon has established a set of key performance indicators that it measures itself against on its journey to best-in-class.
|Best in Class Standards|
|Revenue growth||> 20%|
|EBIT margin||> 5%|
|Number of loss making contracts||Zero|
|PE Ratio||> 10|
|Free cash at bank||> 20% tangible net asset value|
|Order book||> 80% of revenue|
|% tenders won||> 20%|
|% repeat work||> 33%|
|% negotiated work||> 33%|
|Staff turnover||< 15%|
|Safety- disabling injuries||Zero (LTIFR < 1)|