DGAP-News: BAUER Aktiengesellschaft
/ Key word(s): AGM/EGM
- All proposed resolutions accepted by a large majority
Schrobenhausen - During today's ordinary General Meeting, BAUER Aktiengesellschaft reported a challenging year for 2020. "Last year, the COVID-19 pandemic posed a number of challenges, but we were able to overcome them successfully thanks to the commitment of our employees. We worked very consistently on further implementation of our restructuring measures and also optimized our portfolio. Improvements were also achieved in the development of liquidity and net debt," remarked the CEO of BAUER AG, Michael Stomberg, to the shareholders during an online broadcast. In total, 72 percent of the company's share capital participated in the General Meeting by way of vote.
In his presentation, Michael Stomberg discussed the opportunities offered by the major trends of infrastructure, urbanization, climate change and environmental awareness, as well as how Bauer will make greater use of opportunities in order to advance the business in the long term. The medium-term goals newly set in May were also explained and emphasized. In addition to this, Michael Stomberg remarked that he was very satisfied with the subscription of new shares in the course of the recent capital increase and thanked the shareholders and investors for their considerable interest and participation.
The shareholders approved the agenda items up for resolution by large majorities, thereby supporting the management's proposals, including a new remuneration system for members of the Executive Board and the remuneration for members of the Supervisory Board.
Representatives for the shareholder side were newly elected for when the term of office for the Supervisory Board ends on June 24, 2021.
The shareholders followed the management's proposal and elected Sabine Doblinger to the board as a representative of the second-largest shareholder, Doblinger Beteiligung GmbH. She replaces Dr. Johannes Bauer , a member of the Bauer family, who did not run for re-election. With Klaus Pöllath, the Supervisory Board has gained another recognized construction expert to replace Manfred Nußbaumer, while Prof. Thomas Bauer , Elisabeth Teschemacher, Andrea Teutenberg and Gerardus N. G. Wirken will continue to serve.
In their remarks, Prof. Thomas Bauer , Chairman of the Supervisory Board of BAUER AG, and Michael Stomberg expressed their thanks to Dr. Johannes Bauer und Manfred Nußbaumer as well as the departing employee representatives for their immense commitment and consistently effective collaboration over the past years.
Michael Stomberg also provided an outlook for future business development: "We will naturally continue to feel the consequences of the COVID-19 pandemic this year as well. Nevertheless, we are convinced that we will succeed in improving our earnings this year compared to the previous year. As a result, we continue to expect total Group revenues for 2021 of between EUR 1,550 million and EUR 1,650 million and EBIT of between EUR 75 million and EUR 85 million. In the years to come, we are setting a clear focus on further increasing our profitability."
The BAUER Group is a leading provider of services, equipment and products related to ground and groundwater. With over 110 subsidiaries, Bauer operates a worldwide network on all continents.
The operations of the Group are divided into three future-oriented segments with a high potential for synergy: Construction, Equipment and Resources. The Construction segment offers new and innovative specialist foundation engineering services alongside the established ones, and carries out foundation and excavation work, cut-off walls and ground improvements worldwide. Bauer is a world market leader in the Equipment segment and provides a full range of equipment for specialist foundation engineering as well as for the exploration, mining and extraction of natural resources. The Resources segment delivers innovative products and services and acts as a service provider with several business divisions and subsidiaries in the areas of drilling services and water wells, environmental services, constructed wetlands, mining and rehabilitation.
Bauer profits greatly from the collaboration between its three separate business divisions, enabling the Group to position itself as an innovative and highly specialized provider of products and services for demanding projects in specialist foundation engineering and related markets. Bauer therefore offers appropriate solutions for the world's major challenges, such as urbanization, growing infrastructure needs, the environment, and water, oil and gas.
The BAUER Group was founded in 1790 and is based in Schrobenhausen, Bavaria. In 2020, it employed some 11,000 people in around 70 countries and achieved total Group revenues of EUR 1.5 billion. BAUER Aktiengesellschaft is listed in the Prime Standard segment of the German stock market.
More information can be found at http://www.bauer.de.
86529 Schrobenhausen, Germany
Phone: +49 8252 97-1797
Fax: +49 8252 97-2900
|Phone:||+49 (0)8252 97 1218|
|Fax:||+49 (0)8252 97 2900|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1211735|
|End of News||DGAP News Service|