While writing this message nearing the end of 2020, I think back of the previous years in Transformers Magazine, when we frequently wrote of the market dynamics, upcoming changes, their impacts and risks for which we all needed to prepare ourselves, as well as of the best ways to get prepared for those changes and risks. First and foremost, we emphasized the importance of innovation and market communication.
Even so, only a year ago, it was very hard to imagine all the changes that have happened in the meantime. Those changes, to which we and our associates have often pointed out, could have easily caught us off-balance. Luckily, we started developing our innovation, by which I primarily mean Transformers Academy as well as other solutions, early enough to be prepared at the crucial moment not only to face our own challenges but also to respond to the challenges that our associates and customers have faced. The thing we always like to point out is that a great majority of these solutions has come to life with the support of our associates and key customers and much of the credit for everything we do goes to them.