n last year’s editorial I explained how the path taken thus far had proven worthwhile.
And I may undoubtedly repeat that same message today. And this was only worthwhile thanks to the same persons: whether our clients, staff or those who work with us daily as non-executives. This was the final year in our own affirmation. In 2018, in early June, we come of age: fifteen years of dealing with successes and failures, without favours from governments, local governments, public or semi-public companies, clean as only as a few can claim to be.
We come of age after having made sure we enjoyed our fun as teenagers and also fully aware that the mistakes always made at such an age do need paying for. The illusion of seemingly easy but treacherous markets that we perceive as open but which in the end turn out protectionist combine with certain feelings of injustice over attracting “serious clients” when we see others achieving through somehow obscure businesses. Furthermore, at a sincere and personal level, the sacrifices made due to having lacked the freedom to protect the interests of our company have also to a great extent contributed to our maturity.
The difficult years do continue with the difficulties only attenuated thanks to all of the efforts undertaken by each and every one of us, courtesy of all the support both from our colleagues in Brazil and Mozambique and from our partners in Spain and Colombia. The significant reduction in banking debt brought about by the misfortunes I described last year (GES and the bloody PER – the special revitalisation process – Ongoing and, additionally, those markets where agreements are not fulfilled and foreign companies are not paid and, worst of all, the disloyalty and dishonesty of companies such as Soares da Costa – a clear example of corporate ethic shortcomings facilitated by recourse to a legal system that still favours non-compliance and relapses), improvement in margins and the return to profit ensure we face 2018 with better prospects. Until 2020, however, the times will remain characterised by this struggle. I would like to express my deepest gratitude to those banks that understood the efforts we were making and for having supported our recovery.
Only thus is it going to be possible to pursue this journey.
The company will undergo further transformations. We are not a press relations, digital communication, design or events company. We are a company increasingly focused on institutional public relations, whether political or corporate, on financial communication, on what the English appropriately call ‘advocacy’, ‘litigation’, ‘public affairs’ and ‘advisory business development’. Whatever we engage with in our non-core areas is carried out with just as much professionalism as in our core competences. When we cannot or do not know how to, then we simply either do not get involved or we recommend (outsource to) someone who does.
We do not have secondary brands or working with clients that incur eventual conflicts of interest. Either clients trust our Chinese walls, just as they do regarding lawyers, the big four consulting /audit firms and the strategic consulting companies or they simply do not work with us. Front companies or brands created to fool whoever likes getting fooled is clearly not our style.
The objectives for 2018 include duplicating the net, after tax 2017 result. Ambitious, yes, but feasible should we increase our commercial efforts, control costs, and keep on saying no to clients who fail to acknowledge the work we do. The latter have another market able to churn out cheap services. We wish them all the best of luck. Each one to their own.
Finally, a message of solidarity to journalists. The world of journalism is undergoing profound transformations. Jobs are often precarious, recourse to often underpaid when not unpaid interns has become excessive, there are media outlets with backlogs of salary and subsidy payments. In summary, there is a total lack of respect for those who stand on the final frontier, the frontline in the defence of democracy. It would indeed be good were media managers to discover a business model able to ensure a revival in journalism and the media irrespective of the format adopted.
And now, back to work right through to that day in June when we celebrate our first fifteen years of existence.
Thank you all.
