Vossloh Annual General Meeting: all agenda items approved with large majorities
At today’s ordinary Annual General Meeting of Vossloh AG, the shareholder representatives approved all items on the agenda with large majorities. About 65 % of the capital stock was represented. In accordance with the proposals from management, it was decided that the unappropriated net income from 2015 be carried forward and that the current members of the executive board and supervisory board be discharged for 2015. The discharge of the members of the executive board who stepped down in 2014 was deferred as proposed. Furthermore, KPMG AG Wirtschaftsprüfungsgesellschaft was re-elected as auditor for the 2016 financial year. The shareholders also approved the amendment to the business purpose of Vossloh AG in the Articles of Incorporation. The adjustment of the business purpose underlines the focusing of Vossloh’s business activities.
In their presentations, Chairman of the executive board Dr.h.c. Hans M. Schabert and Chief Financial Officer Oliver Schuster provided a detailed overlook of development in the year 2015 and the rationale of the capital increased announced yesterday and again confirmed the goals for 2016 and 2017.
Hans M. Schabert: “In financial year 2015, Vossloh met the goals for operational and strategic development that were set. Sales, earnings and cash flow all recovered noticeably. Net financial debt was significantly reduced while there was a strong increase in the equity ratio. A significant contribution in this regard was made by the sale of the Spanish locomotive business to the Swiss company Stadler Rail AG, which was completed with effect from the end of December 31, 2015. In addition, substantial progress was made in the transformation of the company into an industry leader that is purely focused on rail infrastructure. From 2016, all signs at Vossloh now again point to growth.”
The presentation and the speeches of the two Executive Board members as well as the voting results from the Annual General Meeting are available in the Internet at: www.hauptversammlung.vossloh.com .
Werdohl, May 25, 2016
Contact information for media:
Lucia Mathée, MATHEE GmbH
Phone: (+49-23 92) 52-608
Contact information for investors:
Lucia Mathée, MATHEE GmbH
Phone: (+49-23 92) 52-609
Vossloh is a global player in the rail technology markets. Our core business is rail infrastructure. In addition, the Group is active in the areas of rolling stock and electric buses. The activities of the Group are divided into the four divisions Core Components, Customized Modules, Lifecycle Solutions and Transportation. In the financial year 2015, Vossloh generated sales of €1.2 billion with approximately 4,900 employees.