DGAP-News: KION GROUP AG / Key word(s): AGM/EGM
KION GROUP AG Virtual Annual General Meeting:
Seizing opportunities during the coronavirus crisis
- At its Annual General Meeting (AGM), KION Group reviews a strategically and operationally successful fiscal year 2019;
- CEO Gordon Riske: "We have a very robust business model and a high level of resilience";
- Recently released preliminary figures for Q2 2020 substantiate the robustness of the corporate strategy;
- Majority of shareholders accept all proposals from the Supervisory Board and Executive Board.
Frankfurt/Main, July 16, 2020 - An AGM as a purely online format, lacking the physical presence of shareholders: score another 'first' for KION GROUP AG. "The decision to forego an in-person meeting was not an easy one for us. Yet, we are convinced that it will help us prevent the further spreading of the coronavirus," declared Gordon Riske, CEO of KION GROUP AG, at the company headquarters in Frankfurt am Main on Thursday. He added, "these past few months of coping with the pandemic have been extremely challenging for our more than 35,000 employees. However, health and safety are still our top priority and, naturally, this also applies to everyone involved in the AGM."
In his address, the CEO underscored the important role played by the KION Group in maintaining the flow of necessary goods to the public. "Our customers know they can count on us." The industrial trucks from KION brands Linde, STILL, Baoli and OM as well as the material handling solutions from Dematic - despite the pandemic's disruption - continue to ensure efficient supply processes in system-relevant industries such as food production or healthcare. "We are helping to cover the most crucial basic needs of the global population."
Most of the shareholders approved the Supervisory Board and the Executive Board proposals, including the dividend reduction to be paid out in 2020, lowered to EUR 0.04 per share. Riske appealed for understanding for the difficult decision due to an utterly exceptional situation. "Our goal is to actively operate from the strongest possible cash position - even in an environment that could potentially be marked by a prolonged macroeconomic impact of the corona pandemic," he explained.
Roughly 110 shareholders and shareholder representatives followed the virtual AGM.
All in all, the review of fiscal year 2019 was a favorable one. KION Group not only achieved its targets, but in some areas, it even significantly exceeded them, and this in an increasingly difficult industry environment characterized by macroeconomic challenges, a Brexit several times postponed, trade disputes and the introduction of bilateral protective tariffs. "We have a very robust business model and a high degree of resilience, which is a key objective of our KION 2027 strategy," emphasized Riske.
Riske spoke with confidence about the future as he reflected on the past few months leading up to the AGM. "As a Group, we have succeeded - at least in part - in offsetting the difficult business development in the material handling equipment segment caused by COVID-19 with growth in the automation systems business," explained Riske, looking ahead to the current fiscal year and the recently published preliminary figures for the year's second quarter. "Between April and June, we generated positive operating earnings - EBIT adjusted - In both segments, which shows that as a full-range supplier with strong roots on the multiple continents where we operate, we can take advantage of unprecedented opportunities even during a pandemic."
Additional information about the 2020 Annual General Meeting and KION Group's performance can be found here:
The KION Group is one of the world's leading intralogistics providers for supply chain solutions. Its portfolio encompasses industrial trucks, such as forklift trucks and warehouse trucks, as well as integrated automation technology and software solutions for the optimization of supply chains, including all related services. Across more than 100 countries worldwide, the KION Group's solutions improve the flow of material and information within factories, warehouses, and distribution centers. The Group, which is included in the MDAX, is the largest manufacturer of industrial trucks in Europe and the second largest worldwide. It is also a leading provider of automation technology.
The KION Group's world-renowned brands are clear industry leaders. Dematic, the newest addition to the KION Group, is a global leader in automated material handling, providing a comprehensive range of intelligent supply chain and automation solutions. The Linde and STILL brands serve the premium industrial truck segment. Baoli focuses on industrial trucks in the value segment. Among KION's regional industrial truck brand companies, Fenwick is the largest supplier of material handling products in France and OM Voltas is a leading provider of industrial trucks in the Indian market.
With an installed base of more than 1.5 million industrial trucks and over 6,000 installed systems, the KION Group's customers include companies in all industries and of all sizes on six continents. The Group has more than 35,000 employees and generated revenue of €8.8 billion in 2019.
You can find current KION Group images in our image database at https://mediacenter.kiongroup.com/categories and on the homepages of our respective brands.
This document and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy any securities in the United States or in any other jurisdiction.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of technical studies, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. We do not undertake any responsibility to update the forward-looking statements in this release.
Subtitle: Michael Macht, Gordon Riske, Anke Groth_KION virtual AGM 2020
File: KION_Press Release_AGM_2020
|Company:||KION GROUP AG|
|Phone:||+49 69 20110-0|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1095575|
|End of News||DGAP News Service|