AGM of Krones AG approves dividend of 2.00 euros per share

At today’s AGM of the world’s market leader for beverage filling and packaging technology, 25,965,635 out of the 31,593,072 ordinary shares in circulation were represented by their owners in Neutraubling’s Town Hall. The total presence, i.e. the proportion of the company’s share capital attending the AGM, was 82.19 %. All the agenda items submitted to a vote were passed by large majorities.

Executive Board confirms the targets for 2014

After the company’s Supervisory Board Chairman, Ernst Baumann, had opened the meeting, the Executive Board Chairman of Krones AG, Volker Kronseder, and Krones Executive Board member responsible for finance, Christoph Klenk, explained to the shareholders the most important financial figures and events from the 2013 business year. They also presented the outlook for the ongoing business year, and confirmed the targets for 2014. Krones expects its turnover to rise by 4 % in 2014 and the EBT margin, i.e. the earnings before taxes in relation to turnover, to be around 6.2 %.

Krones to pay out a dividend von 2.00 euros per share

Krones’ Executive and Supervisory Boards proposed to the AGM that for the successful 2013 business year a total of 2.00 euros per share (preceding year: 0.75 euros) be paid out. The significantly higher figure reflects not only the better result, but also the company’s new dividend policy, of paying out to the shareholders 25 to 30 % of consolidated profits instead of 20 to 25 % as hitherto. In addition, Krones wanted to let its shareholders benefit from the proceeds of selling its own shares, with 1.00 euro per share. The proposal was approved by a large majority.

Hans-Jürgen Thaus elected as a new member of the Supervisory Board

To replace Dr. Jochen Klein, who has stepped down for reasons of age, Hans-Jürgen Thaus was elected as a new member of the Supervisory Board. Hans-Jürgen Thaus was from 1997 to 2011 Deputy Chairman of the Executive Board of Krones AG, with responsibility for finance. Currently, he sits on the supervisory boards of several different companies, and is Chairman of the Administrative Council at the East Bavarian University of Applied Science (OTH) in Regensburg. In addition, Dr. Alexander Nerz was re-elected onto the board by the shareholders.

Another change in the Supervisory Board involves the representatives of the workforce: Dr. phil. Verena Di Pasquale, Deputy Chairperson of the German Trade Union Confederation in Bavaria, is the successor to Dr. Klaus Heimann, a former education expert on the National Executive Committee of the IG Metall trade union in Frankfurt. This means that Krones’ Supervisory Board will be enriched by another woman in addition to Petra Schadeberg-Herrmann.

Changes in Krones’ Executive Board

The AGM was also informed of changes in the composition of the Executive Board. In response to soaring growth and the goal of serving its clients even faster and more effectively, Krones has put in place a new organisational structure with a rigorous regional focus, with Markus Tischer being appointed to the Executive Board with responsibility for “International Operations and Services”.
46 years old, with a degree in electrical engineering and information technology, he began his career with Krones back in 1993. As a new member, Markus Tischer has been part of the Executive Board since 1 January 2014.

Ralf Goldbrunner is another newcomer to the Executive Board, and will on 1 September 2014 succeed Werner Frischholz, the long-serving board member with responsibility for “Plant Construction and Components”. Ralf Goldbrunner is 44 years old, with degrees in mechanical and business engineering, and joined Krones in 1999. He is currently responsible for the “Plant Construction and Components” remit.

You will find the detailed results of the voting at the 2014 AGM here.