German oil and additive producer LIQUI MOLY continues to grow despite difficulties. The company ended 2019 with to turnover of 569 million euros, an increase of four percent from the previous year.
“This shows that we can be successful even under adverse conditions,” said Managing Director Ernst Prost. The difficulties LIQUI MOLY faced were in regard to software problems.
The software had been a new addition, aimed at controlling purchasing, production and sales. It did not, however, work as intended, leading to delivery difficulties.
“Our customers were appalled, and rightly so,” Prost said. “They had never experienced anything like it with us before.”
The software setbacks altered the figures for the first few months of the year. So, the company had to work to fix the problems and catch up.
Despite the unforeseen costs of fixing the software and the early lack of turnover, the company managed to profit.
“LIQUI MOLY is financially healthy, is free of debt and has an equity ratio of over 80 percent,” Prost reported.