28 June 2013, 00:00
Schrobenhausen - Around 600 shareholders, shareholders` representatives and guests attended today`s Annual General Meeting of BAUER Aktiengesellschaft at its headquarters in Schrobenhausen, Upper Bavaria. They passed all agenda items put to the vote by a large majority and thus lent their support to the proposals of the company management.
The shareholders voted for a reduced dividend of EUR 0.30 per share (previous year: EUR 0.50 per share). As a result, a total of around EUR 5.14 million will be distributed, equivalent to a dividend ratio of some 21 percent based on profit after minority interest. In discharging the Management Board and Supervisory Board, the shareholders signalled their support of the corporate strategy.
In his speech, Prof. Thomas Bauer reported on the difficult 2012 financial year and on the performance over the year to date. The Chairman of the Management Board of the SDAX-listed construction and equipment manufacturing concern is delighted at the healthy level of orders for construction business. Only two weeks ago, the company announced its biggest contract to date from its home market Germany, worth some EUR 47 million. As part of a joint venture it has been contracted to carry out the specialist foundation engineering works for the tunnels and retaining walls of the new double-tracked rail link between Hanau and Nantenbach, in the Spessart.
The group started the 2013 financial year with a weak first quarter. The opening months were significantly affected by the poor weather and other disturbances, with the result that a number of projects were slow to get going or were delayed. The wait-and-see attitude among customers towards investments likewise depressed revenue for equipment, with the situation improving in the second quarter.
It will therefore be necessary to make up considerable ground in the second half of the year if the full-year targets are to be achieved. Prof. Bauer voiced his optimism about the future, despite the sluggish start to 2013. "In the Construction segment we have the highest orders in hand for many years, the niche strategy for the Equipment segment appears to be working even in such difficult times, and interesting challenges lie ahead internationally for Resources."
The results of the vote and the presentation by the Chairman of the Management Board can be found in the Investor Relations section of the company's website at www.bauer.de.Schrobenhausen - Around 600 shareholders, shareholders` representatives and guests attended today`s Annual General Meeting of BAUER Aktiengesellschaft at its headquarters in Schrobenhausen, Upper Bavaria. They passed all agenda items put to the vote by a large majority and thus lent their support to the proposals of the company management.
The shareholders voted for a reduced dividend of EUR 0.30 per share (previous year: EUR 0.50 per share). As a result, a total of around EUR 5.14 million will be distributed, equivalent to a dividend ratio of some 21 percent based on profit after minority interest. In discharging the Management Board and Supervisory Board, the shareholders signalled their support of the corporate strategy.
In his speech, Prof. Thomas Bauer reported on the difficult 2012 financial year and on the performance over the year to date. The Chairman of the Management Board of the SDAX-listed construction and equipment manufacturing concern is delighted at the healthy level of orders for construction business. Only two weeks ago, the company announced its biggest contract to date from its home market Germany, worth some EUR 47 million. As part of a joint venture it has been contracted to carry out the specialist foundation engineering works for the tunnels and retaining walls of the new double-tracked rail link between Hanau and Nantenbach, in the Spessart.
The group started the 2013 financial year with a weak first quarter. The opening months were significantly affected by the poor weather and other disturbances, with the result that a number of projects were slow to get going or were delayed. The wait-and-see attitude among customers towards investments likewise depressed revenue for equipment, with the situation improving in the second quarter.
It will therefore be necessary to make up considerable ground in the second half of the year if the full-year targets are to be achieved. Prof. Bauer voiced his optimism about the future, despite the sluggish start to 2013. "In the Construction segment we have the highest orders in hand for many years, the niche strategy for the Equipment segment appears to be working even in such difficult times, and interesting challenges lie ahead internationally for Resources."
The results of the vote and the presentation by the Chairman of the Management Board can be found in the Investor Relations section of the company's website at www.bauer.de.
Source: BAUER Aktiengesellschaft; Bauer Group