Annual General Meeting: For the first time as a Green Meeting and at the PALFINGER World

Annual General Meeting: For the first time as a Green Meeting and at the PALFINGER World

Last week, PALFINGER invited its shareholders to the Annual General Meeting. This time, however, the visitors traveled to the PALFINGER World in Lengau. Not only an exciting demonstration of the PALFINGER universe awaited them, but also a Green Meeting.

Green Meeting

PALFINGER organized this year’s Annual General Meeting for the fiscal year 2017 as a Green Meeting and met the criteria laid down by the Federal Ministry for Sustainability and Tourism. In this way, it was once again possible to underline the company’s sustainable activities. The provision of environmentally friendly travel and accommodation, an environmentally friendly venue and sustainable catering (regional, seasonal, low in packaging) are basic prerequisites for the event in order to receive the certificate. Documents were reduced to a minimum and printed on eco-labelled paper. As a guest gift, each shareholder received a pocket umbrella made of PET bottles.

PALFINGER World

Another highlight was the venue: the PALFINGER World. Only opened last year, it serves as a meeting place for all interested in PALFINGER. There were many interesting things to discover for the shareholders:

  • PALFINGER’s history from 1932 until today
  • 3D cinema screen
  • Experience with Virtual Reality glasses
  • Crane models and aerial work platforms with an original control system
  • Media table with PALFINGER products

Fiscal year 2017: continuation of growth and a new vision

In 2017, the PALFINGER Group once again succeeded in increasing its revenue, achieving a record figure for the seventh time in succession: Revenue increased by 8.4 per cent to a new high of EUR 1,471.1 million.

The most fundamental change made in 2017 was the development of a new vision and an expanded strategy for our PALFINGER Group. On the basis of our time-tested strategic pillars of innovation, internationalization and flexibility, we have defined a new, supplementary pillar: PALFINGER 21st. We have summed up the essence of our vision in one sentence:

TOGETHER WE ARE SHAPING THE FUTURE OF OUR CUSTOMERS’ LIFTING SOLUTIONS.

Resolutions of the Annual General Meeting

At the Annual General Meeting, Supervisory Board Chairman, Hubert Palfinger jun., began his presentation with some good news: the Management Board contract with Martin Zehnder was extended for further five years. Martin Zehnder joined PALFINGER in 2005 as a Global Manufacturing Manager. Since January 2008, he has been in charge of the worldwide production and assembly division and is responsible for product management and digitalization. He has been President of the LAND segment since 2017.

As in the previous years, the Annual General Meeting has certain tasks:

  • Resolution on the distribution of the net profit – distribution of a dividend of EUR 0.47 (100%)
  • Discharge of the members of the Management Board holding office in 2017 from their responsibility (99.99%)
  • Discharge of the members of the Supervisory Board holding office in 2017 from their responsibility (99.56%)
  • Chairman of the Audit Committee shall receive an annual remuneration of EUR 15.000 from the financial year 2018 onwards (99.58%)
  • Auditor of the financial statements and the consolidated financial statements: Ernst & Young Wirtschaftsprüfungsgesellschaft m.b.H., Salzburg (99.99%)
  • New member of Supervisory Board: Ellyn Shenglin Cai (99.84%

On the company’s website you can download all resolutions, protocols and presentations: https://www.palfinger.ag/en/investor-relations/shareholder-meeting/resolutions-of-the-last-annual-meeting

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