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DGAP-News: BAUER Aktiengesellschaft / Key word(s): AGM/EGM
- Michael Stomberg reports on the course of business during an online broadcast
Schrobenhausen, Germany – During today's General Meeting of BAUER Aktiengesellschaft, the shareholders approved all proposed resolutions on the agenda by large majorities. In total, approximately 70% of the company’s share capital participated in the General Meeting by voting.
Among other resolutions, the General Meeting approved the remuneration report for the past financial year 2021 and passed the resolution to modify section 13 in the Articles of Association and thereby approved the moderate increase of the Supervisory Board remuneration. With an increase of 10%, the growing requirements of Supervisory Board activity and the development of the Supervisory Board remuneration are taken into account.
The CEO of BAUER AG, Michael Stomberg, reported to shareholders about the 2021 year during the online broadcast and the positive start in the first quarter of 2022, in which particularly the growth in the Equipment segment led to good results.
“The 2021 financial year was a very difficult and variable year, in which we were ultimately only able to achieve small positive earnings after tax,” said Michael Stomberg. “The positive result of the Resources segment reflects the successful completion of the restructuring and the continuing demand in this future-oriented area.”
At the end of the first quarter of 2022, total Group revenues had increased significantly by 17.2% compared to the previous year, from EUR 356.6 million to EUR 417.9 million. At EUR 4.1 million, EBIT was significantly above the previous year’s value of EUR 1.8 million. At EUR 1.6 million, the Group’s earnings after taxes were significantly above the previous year’s value (EUR -5.1 million), and already positive in the first quarter for the first time in many years. The company set a new record for order backlog, which rose by 11.8% compared to the previous year, from EUR 1,322.1 million to EUR 1,478.5 million.
For the 2022 financial year, the company continues to expect a significant increase in total Group revenues and EBIT.
“The COVID-19 pandemic, Russia’s war against Ukraine, global supply bottlenecks, and significant price increases remain major factors of uncertainty, especially with regard to the second half of the year,” reported Michael Stomberg. “So far, we have succeeded in dealing with these difficult framework conditions. In our cautious forecast, we had already calculated for potential effects. For this reason, our expectations for the future course of business have also not changed. The positive start to the year gives us a good foundation for this.”
The voting results, the speech and presentation by the CEO and other documents related to the General Meeting can be found online at www.bauer.de in the Investor Relations area.
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 exploitation 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 works 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 2021, it employed some 12,000 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.
23.06.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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