EANS-News: BAUER Aktiengesellschaft
Professor Thomas Bauer reaffirms forecast
at BAUER AG Annual General Meeting
30.06.2011 – 16:01
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Annual & Special Corporate Meetings/Company Information Subtitle: Dividend of EUR 0.60 per share Professor Thomas Bauer underlines growth trend Dr. Karlheinz Bauer resigns Supervisory Board mandate Schrobenhausen (euro adhoc) - Some 600 shareholders, shareholders' representatives and guests today attended the fifth Ordinary Annual General Meeting of the SDAX-listed construction and machinery manufacturing concern BAUER Aktiengesellschaft at the company's headquarters in Schrobenhausen. In his speech, Chairman of the Management Board Professor Thomas Bauer set forth the prospects for the Group's three segments - Construction, Equipment and Resources - based on numerous examples of projects all over the world. He also reaffirmed his previous forecast: "We are well on track to achieve our targets for this financial year." The Group expects total consolidated revenues of EUR 1.4 billion in full-year 2011, with after-tax profit above EUR 45 million. Professor Bauer also expressed his pleasure on the recent sale of the first TBA 300 deep drilling rig to a Venezuelan drilling contractor. The rig, designed for oil, gas and water exploration and for the extraction of deep geothermal energy, is opening up a new field of business for the Group. The shareholders voted by a large majority to approve the resolutions put forward by the management and confirmed the mandates of the shareholders' representatives on the Supervisory Board for the next five years. Dr.-Ing. Johannes Bauer, a construction engineer and Managing Director of BAUER Designware GmbH, was elected as a new member of the Supervisory Board. He succeeds his father, Dr. Karlheinz Bauer, who has resigned his mandate for reasons of age. The 83-year-old pioneer in the field of specialist foundation engineering represented the sixth generation of his family to run the business, having been Managing Director from 1954 to 1986 and in the 1970s having laid the foundations for the Equipment segment, which is today a world market leader in specialist foundation engineering machinery. The Annual General Meeting approved the payment of a dividend of EUR 0.60 per share. That represents a distribution of some EUR 10.3 million to the company's shareholders. Following the Annual General Meeting, many shareholders took the opportunity to tour the machinery plant at Aresing, some six kilometres away. The results of the vote and the presentation by the Chairman of the Management Board can be found in the Investor Relations section of the company's website at www.bauer.de. About Bauer Bauer is a provider of services, machinery and ancillary products in the earth- working and groundwater fields. The Group markets its products and services all over the world. Its global spread allows it to remain largely unaffected by fluctuating business cycles. The operations of the Group are divided into three segments: Construction, Equipment and Resources. The Construction segment carries out specialist foundation engineering work all over the world, developing foundation and excavation projects as well as providing related construction services. In its Equipment segment, in which it is the world market leader, Bauer offers an extensive range of machinery, equipment and tools for specialist foundation engineering and related fields. The Resources segment encompasses the Group's operations in the exploitation of raw materials, in environmental technology, in geothermal drilling operations and also in equipment for wells (including pumps and drills, screens and casings). Bauer profits greatly from the collaboration between its three separate segments, enabling the Group to position itself as an innovative, highly specialized provider of complete solutions and services for demanding projects on the specialist foundation engineering and related markets. Founded in 1790, Bauer today generates around three quarters of its total revenues outside of Germany. Employing some 9,100 people, the Group's total revenues in 2010 were EUR 1.30 billion (previous year: EUR 1.28 billion). BAUER Aktiengesellschaft has been listed on the official market of the Frankfurt Stock Exchange since July 4, 2006 (Prime Standard, ISIN DE0005168108). Further inquiry note: Bettina Erhart / Christopher Wolf Investor Relations Telefon: +49(0)8252 97 1918 E-Mail: investor.relations@bauer.de end of announcement euro adhoc -------------------------------------------------------------------------------- company: BAUER Aktiengesellschaft BAUER-Straße 1 D-86529 Schrobenhausen phone: +49 (0)8252-97-1918 FAX: +49 (0)8252-97-2900 mail: investor.relations@bauer.de WWW: http://www.bauer.de sector: Construction & Property ISIN: DE0005168108 indexes: SDAX, CDAX, Classic All Share, Prime All Share stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, München language: English