The British glasses manufacturer Inspecs Group is faced with a declining corporate turnover due to persistent uncertainties around US tariffs. At the same time, the company benefits from increasing demand on the European market. Robin Totterman, the outgoing CEO of the company, announced these assessments at the annual general meeting.
“The uncertainty in relation to the US tariffs had a negative impact on our group sales, which was below the level of the previous year at the end of May,” said Totterman. “In Europe, however, we observe a recovery in demand. Our projects with large retailers in the USA and Canada are also becoming pleasant.”
Despite the current challenges, Inspecs continues to focus on increasing operational efficiency and on cost reduction measures. These initiatives are to be further accelerated in the second half of 2025 in order to counteract an economic headwind. Part of these measures is also a strategic review by the subsidiary Norville, which is expected to be completed by the end of June 2025.
Totterman, who founded Inspecs in 1988, also announced his resignation as CEO, as part of the meeting. However, it will be preserved in a new function as a director to the company.
“I thank everyone who was part of this trip,” said Totterman in an official message. He announced that he actively accompany the transition and to support his successor in the early days. According to the company, the search for a new independent, non-managing chair as well as for one or a new CFO is progressing well. An update should follow in due course.
For the 2025 financial year, Inspecs expects consolidated sales at the previous year’s level. The EBITDA forecast remains unchanged.
This article was used with digital tools translated.
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