Situation.
Following a strategic review, the operation entered an 18-month turnaround.
European aftermarket business
Following a strategic review, the operation entered an 18-month turnaround.
Cash, commercial and organisational issues had to be addressed simultaneously, with working capital at approximately 120 days and limited local management bandwidth.
Developed and executed a turnaround across pricing, branch network, assortment and cost, using weekly steering and an on-site execution team.
EBIT improved by approximately EUR 6.2m over the period, working capital fell by approximately 25 days and the network was reduced by approximately 15% of branches. Responsibility returned to line management at month 18.
Anonymised engagement. Figures are approximate. Targets, assessed potential, approved programmes and realised results are described separately in the outcome. Converted amounts use ECB reference rates dated 18 September 2026, rounded to two significant figures.
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