BAUER Aktiengesellschaft held its ordinary Annual General Meeting today
OREANDA-NEWS. Ten years after its IPO, BAUER Aktiengesellschaft held its ordinary Annual General Meeting today at its headquarters in Schrobenhausen, Upper Bavaria. Approximately 450 shareholders, shareholder representatives and guests took the opportunity to hear the latest news and information about the international construction and machinery manufacturing concern and to get close to the Management Board.
The shareholders passed all agenda items put to the vote by a large majority and thus lent their support to the proposals of the company management. Among other things, they voted for a EUR 0.15 dividend per share. As a result, the company will pay out approximately EUR 2.6 million in dividends.
Also re-elections for the six shareholder representatives to the Supervisory Board of the company were held: Andrea Teutenberg from Berlin is replacing the retired civil engineer Rainer Schuster from Freising. The other shareholder representatives were standing for re-election and all were confirmed in their offices. Four women now sit on the 12-member Supervisory Board of BAUER Aktiengesellschaft – two each from the shareholder and employees side. This fulfills the legal quota of 30 percent.
In his report on the previous business year and on the outlook Prof. Thomas Bauer, Chairman of the Management Board, confirmed the forecast. The company is expecting total Group revenues of about EUR 1.65 billion, earnings after tax of about EUR 20 to 25 million, and an EBIT of about EUR 75 million.
In addition to the Bauma appearance in spring, Prof. Bauer presented numerous projects that show how the company is proving its technological expertise all around the world. This included the remediation of two segments of the old Kesslergrube landfill site in Grenzach-Wyhlen, Germany, with a value of over EUR 100 million, making it the largest single contract in the history of the company.
"Since our IPO on 4 July, 2006, nearly ten years ago, we have been confronted with a worldwide financial crisis, with a debt crisis in Europe and with political crises in the Middle East and other areas – developments that continue to affect us to this day," Prof. Bauer explained. "Also for the Equipment segment the market situation has changed enormously during this time. Due to our great efforts and innovations, we have successfully faced these challenges and we look to the future from a position of strength.
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 high synergy potential: 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. In the Resources sector, Bauer focuses on highly innovative products and services in the areas of water, environment and mineral deposit reserves.