Heidelberg Shareholders Approve All Items on Agenda with Clear Majority
HEIDELBERG, Germany—July 24, 2015—Around 1,650 shareholders today participated in the Annual General Meeting (AGM) of Heidelberger Druckmaschinen AG (Heidelberg) for financial year 2014/2015, which was held at the Congress Center Rosengarten in Mannheim, Germany. Approximately 30 percent of Heidelberg’s share capital was represented at the event.
The Management Board discussed the company’s strategy and the financial results for the past financial year (April 1, 2014 through March 31, 2015). In his speech, Deputy CEO and Chief Financial Officer Dirk Kaliebe analyzed where Heidelberg stands at present and then highlighted where the company is heading in the medium term. The company had largely completed its strategic reorientation during the previous financial year. The focus during this process was on realigning the Group’s portfolio toward profitable areas of business and growth sectors.
The corporate structures have also been adapted to the dynamic changes in markets. This has had a further significant impact on sales and results. Together with optimizing the financing structure, this package of measures set the foundation for profitable growth. The aim is to achieve between 2 and 4 percent higher sales and an EBITDA margin of at least 8 percent during the current financial year 2015/2016.
Approval from the company’s shareholders was needed for six of the seven items on the AGM’s agenda. These included the election of Kirsten Lange to the Supervisory Board and decisions to raise new contingent capital and new authorized capital. All items on the agenda were approved with a clear majority.