PVA TePla AG

EANS-News: Annual General Meeting of PVA TePla AG


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  Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Annual & Special Corporate Meetings


Wettenberg (euro adhoc) - (Wettenberg, July 1, 2011) - The Annual General
Meeting of PVA TePla AG was held at the Gießen Congress Center on June 30, 2011.
The items on the agenda were passed with a large majority and 44% of
shareholders were in attendance. The Annual General Meeting was dominated by the
change of CEO.

Peter Abel, the founder and long-time CEO of the PVA TePla Group, took the
opportunity to bid farewell personally to the company´s shareholders as a member
of the Management Board. It had already been announced some months previously
that Peter Abel would resign from his position at the end of this Annual General
Meeting. However, he will continue to be available to PVA TePla as a strategic
consultant and will remain a major shareholder. CFO Arnd Bohle then discussed
business development in 2010, the single-entity and consolidated financial
statements and the figures for the first quarter of the current fiscal year.
Incoming orders had developed very positively across almost all product areas in
the past fiscal year and continue to give cause for optimism for the current
fiscal year in the first five months of 2011. Solar Systems was the only
division with weak incoming orders in 2010. However, a major order in April this
year has since resulted in a good order backlog in this division, too. The
results for the past fiscal year were within the expected range and allowed for
a dividend of EUR 0.15 per share to be paid. Dr. Arno Knebelkamp introduced
himself as the new CEO of PVA TePla AG and discussed the short- and medium-term
market prospects for the individual divisions of PVA TePla, among other matters.
He confirmed the forecast of consolidated annual sales revenues of EUR 120
million to EUR 130 million and an EBIT margin of 8-10%, each at the upper end of
the projected range.


Further inquiry note:
Dr. Gert Fisahn
Tel.: +49 641 68690-400
E-Mail: gert.fisahn@pvatepla.com

end of announcement                               euro adhoc 
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company:     PVA TePla AG
             Im Westpark 10-12
             D-35435 Wettenberg
phone:       +49(0)641 68690-0
FAX:         +49(0)641 68690-800
mail:     ir@pvatepla.com
WWW:      http://www.pvatepla.com
sector:      Misc. Industrials
ISIN:        DE0007461006
indexes:     CDAX
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Hamburg, Stuttgart, Düsseldorf, Hannover, München 
language:   English
 

 

 



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