2023 Review

As 2023 draws to a close, we usually review the past year to help develop our ideas and bring new products and markets to fruition in 2024.

REO exhibited successfully at the SPS show in Nuremberg in 2023, presenting new products and concepts, especially in the Drive Power Quality products field. In the UK in 2024 we will show our comprehensive range of Power Test equipment, mainly featuring AC and DC power supplies and a wide range of versatile loadbanks at EMC and CI 2024 at Newbury. In June 2024, we will demonstrate our wide range of power supply solutions for the medical market at Mec-Tech Innovation in Birmingham.

REO’s turnover has grown significantly over the last 3-4 years, especially with customers who value stable supply chains, quality, and open business practices. We have seen growth in all sectors, and an order book that reaches well into 2024 gives us the impression that next year will also be very challenging.

Lead times have become a constant theme over the last 2-3 years, and component supply has become fraught, with the potential for company-changing results. However, steps that were taken in 2019 to centralise procurement for REO ensured that while our delivery times increased, we were always able to work with the customers and suppliers to find solutions – the benefit of close relationships between all stakeholders bore huge benefits, REO has established supply lines and was able to call in favours and goodwill to lessen supply chain effects and was able to talk openly and candidly to our customers, trust that has been built over decades of business.

For 2024, we expect the market to calm, lead times, and pricing to become much more stable, and we are looking forward to returning to some normality.

It is just a few weeks until we can say, ‘Next Year, we celebrate 100 years of business.’ REO was founded in Berlin in 1925, and the bloodlines established then still flow in the company. We look forward to sharing a beer with colleagues, suppliers, and customers to celebrate this milestone.

We want to take this opportunity to thank you for your business and collaboration in 2023 and wish you good luck, health, and happiness in 2024 and beyond.