Due to the pandemic, the annual general meeting was held virtually for the third time and followed by around 450 participants online. In his speech, Dr. Jochen Weyrauch, who took over as CEO in January, expressed his hope that the shareholder meeting could once again be conducted as an in-person event next year.
In terms of business, the Dürr Group CEO emphasized his optimism despite difficult supply chains and high material costs: “The current upheaval will pass. Our sales growth remains on track, and in the first quarter of 2022 we received more orders than ever. We have a record level of orders on hand with good margin quality, and we have adjusted to the high cost of materials. This is why we will soon return to our path of profitable growth and we are confirming our medium-term EBIT margin goal of at least 8%.”
Dr. Jochen Weyrauch highlighted the positive effects of several megatrends on the mechanical and plant engineering firm’s business: “We are benefiting from the transformation processes in our market, be it the shift toward electromobility, digitalization, or sustainability.” The sustainability trend, in particular, offers the Group new opportunities: “We are the first choice for our customers as they seek to make their production processes more energy-efficient and to lower emissions. In addition, our technologies are vital for manufacturing more sustainable products for a CO2-neutral society.”
Large majorities in the votes
With a 93% majority, the shareholders approved the compensation report, which was prepared according to the new rules of the German Stock Corporation Act for the first time. The actions of the Board of Management and the Supervisory Board were formally approved by a majority of 97% and 95% of the votes, respectively, with 73% of the share capital present.
The voting results are available → here.