DGAP-News: Salzgitter Aktiengesellschaft / Key word(s): AGM/EGM
- Salzgitter AG holds virtual Annual General Meeting
“A new mindset for a new industry” was the motto underscored by CEO Gunnar Groebler in the concluding statement of his speech at today’s Annual General Meeting of Salzgitter AG, once again held in a virtual format. In a first step, he presented the financial year 2021 when the best pre-tax result for 13 years was generated and confirmed the outlook for the current year, which was revised upward thanks to the excellent first quarter. Groebler also elaborated on the new “Salzgitter AG 2030” strategy presented in February and reported on the initial progress made.
All in all, 69.84% of Salzgitter AG’s share capital was represented. The shareholders of Salzgitter AG passed all resolutions put forward by the Supervisory Board and Executive Board with the requisite approvals. In addition, the shareholders discharged the Supervisory Board (97.64% of the vote) and the Executive Board (99.97%) for the financial year 2021 by a large majority. The Annual General Meeting concurred with the dividend proposal put forward by the Supervisory Board and the Executive Board and resolved to distribute dividend of € 0.75 per share for the financial year 2021. Set in the context of year-end closing price, this corresponds to a dividend yield of 2.4 %.
In his explanations, Gunnar Groebler emphasized that achieving the aim of establishing the Group as an independent market leader for circular economy solutions with innovative products and processes under the “Salzgitter AG 2030” strategy is only possible if accompanied by strong partners and networks. A few groundbreaking partner agreements have therefore already been concluded with suppliers and customers in recent months.
The streamlining of the Group’s structure, completed with effect from 1 April 2022, forms another pillar of the new strategy. Along with leveraging synergies and enhancing customer centricity, the realignment permits even closer, more targeted coordination. As a result, the Salzgitter Group is now divided into four segments instead of previously five. The Group's steel activities are recombined under the new “Steel Production” and “Steel Processing” business units in line with value added and customer requirements. The Trading and Technology business units remain as they are.
A further key component of the strategy consists of the significantly accelerated process of decarbonization in the context of SALCOS®. The Salzgitter Group is reinforcing its role as a front runner in low-CO2 steel production through this undertaking. Gunnar Groebler: “Experience tells me: It is better to move ahead instead of applying the brakes and then running to catch up. Assuming a positive vote from the Supervisory Board in the summer, we therefore intend to replace the first blast furnace by direct reduction plants and electric arc furnaces as early as 2025. More than one million tons of green steel produced via this route is planned for 2026. By 2033, so 12 years earlier than originally scheduled, the integrated steelworks are to have been fully aligned to the new world. CO2 savings of 8 million tons a year could be made, which corresponds to around one percent of Germany’s emissions.” Groebler continued by stating: “We are ready! It is now up to the policymakers to set in place the right economic and political framework conditions. This particularly applies to the topics of creating green leading markets, clarity in terms of funds to promote the transformation, and accelerating approval procedures.”
The detailed voting results and supplementary material on the Annual General Meeting of Shareholders have been published at Shareholders' Meeting | Salzgitter AG (salzgitter-ag.com).
Contact for our shareholders / capital market:
Annual General Meeting 2022 of Salzgitter AG
02.06.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
+49 5341 21-01
+49 5341 21-2727
Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:
End of News
DGAP News Service