General Meeting of BAUER AG elects new shareholder representatives to the Supervisory Board

• All proposed resolutions accepted by a large majority
• New elections to the Supervisory Board
   

Schrobenhausen – During today’s ordinary General Meeting, BAUER Aktiengesellschaft reported a challenging year for 2020. “Last year, the COVID-19 pandemic posed a number of challenges, but we were able to overcome them successfully thanks to the commitment of our employees. We worked very consistently on further implementation of our restructuring measures and also optimized our portfolio. Improvements were also achieved in the development of liquidity and net debt,” remarked the CEO of BAUER AG, Michael Stomberg, to the shareholders during an online broadcast. In total, 72 percent of the company's share capital participated in the General Meeting by way of vote.

In his presentation, Michael Stomberg discussed the opportunities offered by the major trends of infrastructure, urbanization, climate change and environmental awareness, as well as how Bauer will make greater use of opportunities in order to advance the business in the long term. The medium-term goals newly set in May were also explained and emphasized. In addition to this, Michael Stomberg remarked that he was very satisfied with the subscription of new shares in the course of the recent capital increase and thanked the shareholders and investors for their considerable interest and participation.

The shareholders approved the agenda items up for resolution by large majorities, thereby supporting the management’s proposals, including a new remuneration system for members of the Executive Board and the remuneration for members of the Supervisory Board.

Representatives for the shareholder side were newly elected for when the term of office for the Supervisory Board ends on June 24, 2021.

The shareholders followed the management’s proposal and elected Sabine Doblinger to the board as a representative of the second-largest shareholder, Doblinger Beteiligung GmbH. She replaces Dr. Johannes Bauer, a member of the Bauer family, who did not run for re-election. With Klaus Pöllath, the Supervisory Board has gained another recognized construction expert to replace Manfred Nußbaumer, while Prof. Thomas Bauer, Elisabeth Teschemacher, Andrea Teutenberg and Gerardus N. G. Wirken will continue to serve.

In their remarks, Prof. Thomas Bauer, Chairman of the Supervisory Board of BAUER AG, and Michael Stomberg expressed their thanks to Dr. Johannes Bauer und Manfred Nußbaumer as well as the departing employee representatives for their immense commitment and consistently effective collaboration over the past years.

Michael Stomberg also provided an outlook for future business development: “We will naturally continue to feel the consequences of the COVID-19 pandemic this year as well. Nevertheless, we are convinced that we will succeed in improving our earnings this year compared to the previous year. As a result, we continue to expect total Group revenues for 2021 of between EUR 1,550 million and EUR 1,650 million and EBIT of between EUR 75 million and EUR 85 million. In the years to come, we are setting a clear focus on further increasing our profitability.”