Gerresheimer Well-Positioned for Further Growth
DÃœSSELDORF, Germany, April 29, 2010 /PRNewswire-FirstCall/ -- - Financial Year 2009 Successfully Completed - Good Start to the Year 2010 - Confirmation of Guidance of 2% to 4% Sales Growth for 2010 With an Operating Margin of Around 19.5%
At today's Annual General Meeting of Gerresheimer AG wide approval was given by shareholders on all the agenda items. The CEO Dr. Axel Herberg commented on the starting position for 2010: "We have ended the financial year 2009 with very solid figures and have made a good start to the year 2010. Gerresheimer is ideally positioned to continue on the path of success."
In his speech the CEO confirmed the guidance for the current financial year with sales growth of 2% to 4% and an improvement in the operating margin (adjusted EBITDA margin) to around 19.5%.
At today's meeting Dr. Axel Herberg, who is going to leave the Management Board on June 21, 2010, was elected by a large majority to the Supervisory Board with effect from September 1, 2010. His successor as CEO is going to be Uwe RÃ¶hrhoff, the Management Board member of many years standing.
The Annual General Meeting followed the management's proposal to waive the payment of a dividend. The funds will instead be used for further debt reduction and exploitation of growth opportunities.
In detail the Annual General Meeting - with 63.32 percent of the capital stock represented - passed the following resolutions:
ITEM 2: Appropriation of net earnings for the financial year 2009: carry forward in total to the new account. (99.24 percent of votes in favor)
ITEM 3: Formal approval of the actions of the members of the Management Board for the financial year 2009:
(93.93 percent of votes in favor)
ITEM 4: Formal approval of the actions of the members of the Supervisory Board for the financial year 2009:
(93.91 percent of votes in favor)
ITEM 5: Election of the auditor for the financial year 2010:
(100.0 percent of votes in favor)
ITEM 6: Supplementary election of Dr. Axel Herberg to the Supervisory Board:
(94.76 percent of votes in favor)
ITEM 7: Amendments to the Articles of Association because of the German Act to Implement the Shareholder Rights Directive (ARUG): (90.79 percent of votes in favor)
Amendments to the Articles of Association on Supervisory Board remuneration: (90.78 percent of votes in favor)
ITEM 8: Approval of the system for remuneration of Management Board members
(63.72 percent of votes in favor)
The speech of the CEO to the Annual General Meeting can be found under http://www.gerresheimer.de/en/investor-relations/annual-general-meeting/2010. html
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Gerresheimer is an internationally leading manufacturer of high-quality specialty products made of glass and plastic for the global pharma & healthcare industry. Our wide product spectrum ranges from pharmaÂceutical vials to complex drug delivery systems, such as syringe systems, insulin pens and inhalers, for safe dosage and appliÂcation. Together with our partners we develop solutions which set standards and have role-model status throughout their respective business sectors.
Our Group of companies achieves in Europe, North and South America and Asia sales of about EUR1 billion and employs around 9,400 people. Through top-class technologies, convincing innovations and targeted investÂments we are systematically expanding our strong market position.
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SOURCE Gerresheimer AG