All Items on Agenda Approved with Clear Majority at Heidelberg Annual General Meeting
HEIDELBERG, GERMANY—July 24, 2014—Around 1,750 shareholders participated in the Annual General Meeting of Heidelberg for financial year 2013/2014, which was held at the Congress Center Rosengarten in Mannheim, Germany. Approximately 29 percent of Heidelberg's share capital was represented at the event.
The Management Board discussed the company's strategy and the balance sheet figures for the past financial year (April 1, 2013 through March 31, 2014). In his speech, Heidelberg CEO Gerold Linzbach analyzed where he feels Heidelberg is currently at and then highlighted where the company is heading in the medium term. Following five years of losses, the net profit for financial year 2013/2014 was EUR 4 million. The next step is to secure the group's sustained profitability in the years ahead by expanding growth segments, implementing portfolio measures, and introducing structural cost projects. The aim is to achieve an EBITDA margin of no less than 8 percent as early as financial year 2015/2016.
Approval from the company's shareholders was needed for four of the five items on the AGM's agenda. These included the raising of new conditional capital. All items on the agenda were approved with a clear majority.
The scheduled publication date for the financial statements for the first quarter of 2014/2015 is August 13, 2014.