New Year's interview: Innovations and strategic planning define leaders

DEJAN ČOLOVIĆ Owner and General Director of Bekament

1. How would you describe the business year 2023 for Bekament? What were the key events, challenges, and successes during the past period? When I reflect on the business results achieved in 2023, I can happily say that they best reflect the synergy of investments and organization that support the continued accelerated growth of Bekament. Although 2023 was quite challenging due to global economic and political instability, changes in regulations, and competition, Bekament has demonstrated what it means to be a leader. Our dedication, as well as our ability to adapt to every moment and act strategically, represents our greatest value, enabling us to remain competitive, preserve our market position, and achieve growth. Some of the key indicators of business success during the past period were our strategic focus on innovation and the improvement of Bekament's product range, which resulted in obtaining prestigious quality certifications. Additionally, we launched a unique loyalty program in Serbia and the region, which was one of our larger corporate projects, where the trust and satisfaction of our business partners and contractors were further rewarded. I can confidently say that the mechanism of this program in the Serbian market is something completely innovative and different, which users recognized, leading to the success of the new loyalty program in its first year exceeding all our expectations. Moreover, the opening of new EU markets has allowed us to increase our global presence and achieve greater profits. This expansion is a result of the highest standards of quality, the relevance of Bekament products, and the trust we have built with all our stakeholders. One of the important focuses of the company since its inception has been continuous investment in employees and their development. The company currently employs over 500 staff members who form a team of top professionals—each in their area of expertise. This year, we placed a significant emphasis on strengthening the organizational structure of the company. We successfully reorganized within teams, enabled the advancement of certain personnel, and empowered top management, under whose leadership we improved many work processes and achieved positive results that will, I am sure, be even better in 2024! On a path to success spanning more than three decades, I can proudly say that Bekament has become synonymous with professionalism, top quality, and reliability. We must leverage and maintain this corporate advantage—always staying one step ahead of everyone else.

2. How did you direct investments in the past year? Are there specific projects or areas that were the focus of investment, and how do you expect them to contribute to the long-term development of the company? One of the fundamental principles of Bekament's business is data-driven investment management, informed by in-depth analyses and knowledge of each market, implemented through a long-term strategic plan aimed at further growth and development. I always see investments as a key factor for maintaining a competitive advantage. Our commitment to this segment of the business is reflected in our continuous investment in research and development of new product categories, as well as further modernization of production facilities to enhance processes and expand production capacities. In the past year, Bekament has continued to direct investments toward several key areas and projects that we consider priorities for the long-term development of the company; however, everything is still in the realm of business confidentiality, so I would not want to prematurely reveal anything at this time. There will be opportunities to discuss this topic further. 3. How does Bekament position itself in the domestic market in relation to the competition? How does the company approach internationalization, and what are its goals regarding global presence? Bekament has been positioned as one of the leaders in the production of finishing materials in the construction industry on the domestic market for many years. The competition in this industry is quite strong, but we have managed to distinguish ourselves through a clear vision, strong ambition, and years of dedicated work, so that today we are recognized as a credible, reliable, and professional company with five quarries, eight production facilities, and a wide range of over 250 products. Regarding internationalization, Bekament has a clear goal of becoming a recognized and respected brand at the global level. Our strategy includes expanding our presence in foreign markets by establishing partnerships with distributors and opening new sales channels. We are also continuously working on certifying our products according to the specific requirements of the EU market to ensure adequate service and the placement of a wide range of Bekament products. We believe that all the challenges we encounter, whether in the domestic or foreign market, represent potential opportunities for further growth and success. Our strategy is to enter new markets with even greater boldness and to aim for a leadership position in the Southeast European region in the future. 4. What are Bekament's expectations for the upcoming business year? We enter each new year with more ambitious plans to continue the growth trend of Bekament. It is evident that in 2024, even greater challenges await us, which carry certain risks conditioned by macroeconomic, political, and market developments. Continuous monitoring of external factors, timely strategic decisions, and retaining quality personnel are prerequisites for achieving moderate, healthy growth in the coming year. Bekament will continue to invest in its product portfolio, new facilities, and human resources, aiming to create a new perspective for successful business management that will lead to achieving planned double-digit financial growth.