Wacker Neuson SE shareholders voted at today’s AGM to carry forward the profit for fiscal 2009 in full. Executive and Supervisory Board members’ actions were duly approved for fiscal 2009. The incumbent shareholder representatives were re-elected to the Supervisory Board. The incumbent employee representatives had already been re-appointed to the Supervisory Board.
Upturn in business during Q1 2010 230 shareholders with a total of 61,158,924 voting rights were represented today at the Wacker Neuson SE annual general meeting (AGM). Measured against the authorized capital comprising 70.14 million shares, this brought attendance to 87.2 percent. Dr.-Ing. Georg Sick outlined business development throughout the year: “Despite the economic crisis throughout 2009, we continued to implement our proactive go-to-market strategies and cost-cutting measures. The company is on sound financial footing with an equity ratio of around 80 percent, and we significantly improved our financial and asset position in 2009.” Dr. Sick went on to explain how current positive market developments are fuelling a considerable rise in orders. Wacker Neuson Group revenue and profit for Q1 2010 was up significantly on the same quarter last year, despite a harsh winter negatively impacting the Group’s core region of Europe. “We remain optimistic about prospects for the current fiscal year and remain committed to our forecast for a rise in revenue of at least five percent and positive earnings figures,” continued Sick. The actions of the Executive Board and the Supervisory Board were approved for fiscal 2009 with over 99 percent of the vote.
Continuity at Supervisory Board level The terms of office of the members of the first Wacker Neuson SE Supervisory Board expired at the end of today’s AGM. All incumbent shareholder representatives were re-elected to the Supervisory Board by the AGM. Hans Neunteufel was elected Chairman and Dr. Ulrich Wacker Deputy Chairman of the Supervisory Board at the subsequent constituent Supervisory Board meeting. Dr. Eberhard Kollmar and Kurt Helletzgruber are the remaining shareholder representatives. The members are appointed for a period up to the close of the AGM that resolves to approve the actions of Supervisory Board members for fiscal 2014. The former employee representatives on the Supervisory Board, Herbert Santl and Elvis Schwarzmair, were re-elected by the Wacker Neuson SE works council and duly re-appointed to the Supervisory Board.
Profit carried forward in full Shareholders approved the proposal by the Executive Board and the Supervisory Board to carry forward 2009 profit in full to new account, thus agreeing to pay no dividend for fiscal 2009 (previous year: EUR 0.19 per share).
Further AGM information: www.wackerneuson.com/ir/en-agm.php
About Wacker Neuson: Wacker Neuson SE is a global manufacturer of light and compact equipment. With over 30 affiliates and more than 180 sales and service stations across the globe, the new company offers a unique product portfolio. Almost all products manufactured by the company are branded Wacker Neuson. The only exceptions to this in Europe are Kramer-branded all-wheel loaders and Weidemann-branded agricultural machinery, which the company plans to strengthen and expand. With over 300 product categories and complementary rental, spare parts and repair services, Wacker Neuson is the partner of choice among professional users in construction, gardening, landscaping and agriculture, as well as among municipal bodies and companies in the industrial and recycling sectors.
Wacker Neuson SE strengthens earnings power in first half of fiscal 2010
The Wacker Neuson Group significantly increased revenue for the first half-year relative to the previous year, enabling the company to return to the profit zone as planned.
CEO and President of Wacker Neuson SE to leave company.
Dr. Georg Sick, CEO and President of Wacker Neuson SE, has informed the Supervisory Board that he will not be seeking to renew his contract once it expires on July 31 of this year.
