1.You operate in a market which is continuously changing. What are the challenges that you encounter in this sector?
Our industry, both for commercial vessels and for refit and maintenance of
superyachts, is very unstable since
the vessels are subject to deadlines for renewal of certificates for
international registers; consequently
our challenge is to provide continuity to a very volatile sector. Such instability requires organisational and
marketing efforts to keep on being
extremely competitive. Hence our main task is to try and provide consistency and efficient planning in all the various work sectors.
2. What was your biggest satisfaction in 2018?
I cannot speak of one satisfaction because
we had many in the past 50 years. The challenge is to keep our determination in proving our philosophy
to provide continuity, security and prosperity in all the countries from where we operate.
3. In 2018 you have invested in various projects to
provide a holistic approach to your clients. Are you reaping returns from such
2018 we made two major acquisitions:
Savona for the superyachts sector and Viktor Lenac in Croatia. In these two sites we have started operating recently and we are
working very hard on these great
start-ups. At this stage the return
is still minimal compared to the investment but we are confident and opimistic that these yards will
complement our network.
4. What are your plans/ goals for 2019?
focus on the continuous improvement of our services particularly in cases of emergencies
or urgencies. We constantly focus on new opportunities by ensuring a continuous
development of our Group.
5. What are the values of your company?
most important values are certainly passion, sacrifice and recognition to each
of our employees, who, together with
us continuously work very hard to achieve the best for their company.
6. This year you have changed your role as
President. What does this mean for your company?
is no difference. I have been working for the past 50 years arriving at the yard at 7 in the morning and
leaving at 8 in the evening, including week-ends. The role of a good business man is to lead by example his co-workers who
are the raw material for an optimal result.
7. What makes you enthusiastic to keep on going?
The satisfaction and the respect from the people around me who acknowledge me both as an
entrepreneur and as one of them.
8. What is the message that Palumbo Group would
like to communicate to people out there?
This time of the year, is generally the time
to review performances on the previous year and to strive to improve in the
I would like to take the opportunity to thank all my employees
(approximately one thousand excluding subcontractors) for their work and wish
them all a year of happiness and prosperity.
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Original article found on Malta Winds