- Dividend per share rises from 1.45 euros in the preceding year to 1.55 euros
- Executive Board confirms at the AGM the targets for revenues and earnings during 2017 as a whole
- Shareholders re-elect Petra Schadeberg-Herrmann to the Supervisory Board
The 37th Annual General Meeting of Krones AG was held today in Neutraubling’s town hall. The presence, meaning the proportion of the company’s total share capital represented at the AGM, was was approximately 83 %. The shareholders approved by large majorities all the agenda items put to a vote.
Change in Krones AG’s Executive Board
Before the Supervisory Board Chairman Volker Kronseder declared the AGM officially open, he informed the shareholders of a change in the company’s Executive Board. Rainulf Diepold, who since 1996 has been responsible on the Executive Board for sales and marketing, will be stepping down from the board as scheduled at the end of 2017. Volker Kronseder expressed his sincere gratitude to Rainulf Diepold for his long years of highly successful work at Krones. Rainulf Diepold will be followed in this post by Thomas Ricker, who has since 2012 been responsible on the Executive Board for filling and packaging technology, and will be beginning his changed duties effective 1 January 2018. Volker Kronseder wished Thomas Ricker every success in his new remit as the Executive Board Member responsible for sales and marketing.
Following a successful business year in 2016, Krones is targeting further profitable growth
Michael Andersen, responsible on the Executive Board for finances, reported gratifying figures for the 2016 business year and the first quarter of 2017. Krones’ revenues showed a slightly steeper rise in 2016 than originally budgeted, and the targeted EBT margin of 7.0 % was achieved. The encouraging uptrend continued in the first quarter of 2017. The Executive Board confirmed the targets for 2017 as a whole. Revenues, excluding acquisitions, are predicted to grow by 4 % with a stable EBT margin of 7.0 %. Executive Board Chairman Christoph Klenk informed the shareholders regarding Krones’ strategic focus. He reported on the challenges and opportunities for Krones, and addressed in detail the issue of digitalisation. Overall, said Christoph Klenk, Krones is in good shape for achieving its medium-term targets by 2020: the company is aiming to increase revenues by an annual average of 7 %, earn an EBT margin of 8 %, and reduce to 22 % the ratio of working capital in relation to revenues.
Dividend rises from 1.45 euros per share in the preceding year to 1.55 euros
In order to enable the shareholders to participate appropriately in the company’s success, the Executive and Supervisory Boards proposed to the AGM a dividend of 1.55 euros per share for the 2016 business year, 0.10 euros up on the preceding year’s figure. The AGM approved the proposal by a large majority. The payout corresponds to 29 % of consolidated earnings in 2016, and is thus at the upper edge of the target corridor, which was 25 % to 30 %.
A new face on Krones AG’s Supervisory Board
The conclusion of the AGM marked the end of Petra Schadeberg-Herrmann’s first term in office on Krones’ Supervisory Board. She stood for re-election, and was voted onto the body again by a large majority of the shareholders. A new face will be joining the Supervisory Board as a representative of the employees, in the shape of Beate Eva Maria Pöpperl, who after the AGM replaced Johann Robold on Krones’ Supervisory Board. Volker Kronseder thanked Johann Robold for his long years of dedicated service on the company’s Supervisory Board.
After around three hours, Volker Kronseder declared Krones’ AGM closed, following a traditionally harmonious event.