And once again the Annual General Meeting took place on a sunny day in the service and demo center in Kasern. Otherwise we also had every reason to smile – 2015 is another record year for us. Around 150 shareholders and guests informed themselves about PALFINGER’s successful fiscal year 2015 and about its future prospects.
Record revenue + Record EBIT – How do we do that?
As in the previous year, the annual general meeting was opened by the Supervisory Board Chairman Hubert Palfinger jun. and was guided together with notary Dr. Brix. After a few formalities the word was already given to PALFINGER’s CEO Herbert Ortner. He spoke of our record year. The meaningful data hereby were: revenue growth of 15.7% to EUR 1.2 billion and EBIT growth of 58.0% to EUR 104 million.
He emphasized that our success is based on many pillars – namely our strategic pillars of internationalization, flexibility and innovation. In particular, PALFINGER achieves the former by responding to the differing regional requirements with tailor-made customer solutions. 2015 was also marked by the integration of the acquired companies in recent years. Flexibility is taken into account by our latest “25% Current Capital” project, which envisages the continual improvement of short-term capital investments. The local value creation was also a focus in 2015 – thereby, sustainable aspects are considered from the purchasing to the use of our products. And despite a weakened oil industry, our marine business has grown. All this contributes to the success and especially to the competitive advantage of PALFINGER.
The other board members Martin Zehnder (COO), Wolfgang Pilz (CMO) and Christoph Kaml (CFO) also had their chance to speak. Their main points revolved around the topics: production network, Industry 4.0, segment development and financial figures. Detailed information can be found in our third Integrated Annual Report. In addition to economical aspects, ecological as well as social aspects are discussed.
2016 and beyond – How do we want to continue?
We have great plans for the upcoming years. Our revenue target of EUR 1.8 billion for 2017 will be reached through the expansion of the marine field and of China and CIS to our second domestic market. Strategic objectives also include the growing portfolio of products in all regions, the global balance of production and customer focus, the completion of customer expectations as well as the continuing preservation of our global leadership in innovation, particularly through the adjustment of all processes to “Industry 4.0”. Summing up: we want to continue to offer the right products at the right price.
Questions, Questions, Questions and Resolutions – Why, Why, Why?
Also in this year, questions toward the board members did not lack. As usual Dr. Knap, Vice President of IVA and shareholders representative, opened the question and answer session. Besides questions regarding the interim dividend, he questioned the retrospective adjustments of the PALFINGER AG and dug a little deeper into the strategic goals until 2017. He also praised the growth and success of PALFINGER. Also Mr. Berger congratulated our development and directed further interesting questions to the management board.
Afterwards it came to a vote of 7 resolutions in total, which were decided by 213 shareholders with 25,233,830 votes. A dividend of EUR 0.57 per share was voted, excluding the already distributed interim dividend of EUR 0.18 in December last year. Further resolutions discharged the members of the Management Board, the members of the Supervisory Board and determined the remuneration of the latter
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. Once again, Ernst & Young were determined as the auditor of the financial statements and the consolidated financial statements. Following members were appointed or renewed into the PALFINGER’s Supervisory Board: Ing. Mag. Hannes Palfinger, Dr. Heinrich Dieter Kiener, Dawei Duan and Gerhard Rauch. The final resolution involved the transfer of the registered office from Salzburg to Bergheim.
Just like in recent years, at the end of the Annual General Meeting an extensive, and particularly tasty buffet was offered. This time also provided the possibility for lots of small talk and more questions. Shareholders were offered to visit the new headquarters in Bergheim afterwards.