BAUER AG: Executive Board member Peter Hingott reports on the 2022 financial year at the General Meeting

Schrobenhausen, Germany – During today's General Meeting of BAUER Aktiengesellschaft, the shareholders approved the proposed resolutions for agenda items 3 to 6 by a large majority. With the exception of one departing member, the current members of the Executive Board were discharged by a large majority.

Among other resolutions, the General Meeting also approved a change to the Articles of Association which authorizes the Executive Board to also convene a virtual General Meeting in the future.

The focus of the event was the presentation by Executive Board member Peter Hingott, who reported to the roughly 320 shareholders, guests and media representatives in attendance on the difficult 2022 financial year and the capital increase resolved in March 2023, among other topics.

“After the loss in the 2022 financial year, we were able to strengthen our balance sheet and our equity again with the capital increase,” said Peter Hingott. In June of the current year, BAUER AG executed a delisting from the regulated market of the Frankfurt Stock Exchange after concluding the delisting acquisition offer of SD Thesaurus GmbH.

Peter Hingott also addressed the ongoing 2023 financial year and future prospects in his presentation: “We started with a very good order cushion and had a solid first half of the year because of this. Even though the Geotechnical Solutions segment in Germany is becoming increasingly difficult due to high inflation and price increases, and competition in the Equipment segment is further intensifying, our business is performing well overall. We are executing numerous projects around the world and there are many other opportunities for us. Furthermore, the business in the Resources segment is performing well in nearly all areas. Therefore I am convinced that we can conclude the 2023 financial year with good positive earnings.”

Peter Hingott also reported that the search is underway for a manager specializing in equipment construction and production for the Executive Board of BAUER AG