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Welbilt CEO says decline in revenues is easing as customers replace equipment again

Welbilt

Welbilt CEO Bill Johnson says the decline in sales that has occurred since the Covid-19 pandemic started is beginning to ease with each month that passes.

Net sales at the foodservice equipment manufacturer decreased 27% in Q3 to $298m, but Mr Johnson said the picture was improving and the three-monthly decline was almost half that of Q2.

In the Americas, same-store sales improved for both QSRs and casual dining operators, supporting their increased demand for replacement equipment.

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Demand for Manitowoc Ice machines improved and sales of Merrychef high-speed ovens increased as the company began shipping to a new global customer.

“We believe overall demand will continue to gradually improve over the next several quarters assuming widespread stay-at-home orders are not reimposed,” he said.

Mr Johnson revealed the business had made progress on a number of strategic initiatives in the third quarter.

It began to build inventory of its new common controllers at some of its brands and will start incorporating those into new units this quarter. It will continue to adopt these new controllers across all of its brands over the next several quarters.

Welbilt also recently released its newest version of KitchenConnect, its open cloud solution for the foodservice industry, and are actively migrating users to this version.

Last week, it launched its new mid-tier Convotherm maxx line of combi ovens in the EMEA and APAC markets. The range complements its line of premium C4 combi ovens while having more features and performance than its mini combis.

“We are continuing to focus resources on innovations that are likely to become more prominent due to social distancing, such as ghost kitchens and enhanced sanitation features within our equipment,” said Mr Johnson.

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Andrew Seymour

The author Andrew Seymour

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