The company lacked a CFO. The finance department lacked resources (controlling, accounting, consolidated financial reporting). Investor relations had room for improvement. Cash forecasts were inaccurate, and cash management lacked flexibility. Deadlines for the annual audit were not met. There were consolidation issues at LucaNet. Travel and expense management was handled manually.

Monthly financial reporting, including preparation of documents and presentation to the Supervisory Board; P&L forecasting (base, best, worst-case scenarios); monthly and quarterly bank reports; streamlining of management reporting for operating companies; establishment of a multinational cash pool; cash forecast modeling; consolidation of bank accounts; RCF- Negotiations and finalization with the bank; Completion of the 2024 budget by November 2023; LucaNet reporting and IC consolidation; Drafting and implementation of accounting policies; Bookkeeping for four international entities in NetSuite; Support for the Group Accounting function in successfully completing the pre- and year-end audits for 2023; Feedback cycles and goal-setting for the internal team

The liquidity situation was stabilized by the end of 2023, and a reliable cash forecast model was implemented. A cash pool for flexible cash management was introduced. The 2024 budget was finalized on time. The preliminary review and the 2023 year-end audit were successfully completed. The internal team was hired, and the handover was successfully carried out.