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| Datum : | 15.05.2014 |
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DGAP-News: init innovation in traffic systems AG: Wide approval at init's Annual General Meeting in Karlsruhe |
| Meldung : | DGAP-News: init innovation in traffic systems AG / Key word(s): AGM/EGM/Dividend init innovation in traffic systems AG: Wide approval at init's Annual General Meeting in Karlsruhe 15.05.2014 / 17:16 --------------------------------------------------------------------- Continuity in dividends and growth strategy - Dividend to remain at EUR 0.80 per share - Shareholders elect new Supervisory Board Member - Specialist in transport telematics systems entering 11th consecutive year of growth - Order backlog currently at 18 months Karlsruhe, 15 May 2014. init innovation in traffic systems AG (ISIN DE 0005759807) is pursuing continuity in both its dividend policy and growth strategy. At the Annual General Meeting in Karlsruhe, the shareholders in attendance voted to leave the dividend unchanged at EUR 0.80 per share. As it steers this international leader in transport telematics and electronic fare collection systems into its 11th consecutive year of growth, the path chosen by the Managing Board was also met with applause and broad consent. The actions of CEO Dr. Gottfried Greschner and his colleagues on the Managing Board were formally approved with 98,163 per cent of the votes. Shareholders representing a 99,998 per cent stake voted in favour of the appropriation of profits proposal made by the Managing and Supervisory Boards. According to this, EUR 8,021,137.60 of the net profit in 2013 (EUR 19,374,145.81) will be distributed to shareholders and the remainder will be carried forward. After 13 successful years: Prof. Dr. Girnau to step down as Chairman of the Supervisory Board Long-standing Chairman of the Supervisory Board Prof. Dr. Günter Girnau has chaired his last shareholders' meeting. After serving init and its shareholders for 13 extremely successful years, he will retire from this position of his own volition on 30 June 2014. "I am personally delighted that the company has developed enormously during this time and succeeded in achieving extremely encouraging results for its shareholders, particularly in recent years. A medium-sized company that took the bold step of going public in 2001 under adverse circumstances has become a global player today, shaping its market and driving it forward. I am proud to have played a part in this development along with my colleagues on the Supervisory Board. I thank the Managing Board, the management team and above all our employees for their extraordinarily successful work during this time and I wish them, the new Supervisory Board and our shareholders a future that is equally successful," were Girnau's parting words to shareholders. Ulrich Sieg joins Supervisory Board Newly elected to the Supervisory Board, after winning 99,997 per cent of the votes cast, is Dipl. Ing. Ulrich Sieg, who will remain a member of the Managing Board of Hamburger Hochbahn AG until 30 June 2014. He will take up his position on the Supervisory Board of init innovation in traffic systems AG on 1 July 2014. Hans-Joachim Rühlig, who has served as Deputy Chairman of the Supervisory Board of init innovation in traffic systems AG since May 2011, is to take over as Chairman in future. Wolfgang Degen, one of init's long-standing COOs of the Managing Board, attended the Annual General Meeting for the last time, as well. Degen will also be leaving the Managing Board of his own volition on 30 June 2014. However, he will still be serving INIT GmbH in an advisory capacity as Managing Director until 31 March 2016. In future, CEO Dr. Gottfried Greschner will perform his duties at Managing Board level. In his report and outlook, Dr. Greschner told shareholders to expect another year of growth. With incoming orders of over EUR 29 million during the first quarter, init already has a large portion of the new orders planned for 2014 (EUR 105 million) in the bag. However Greschner also clearly stated that uncertainties in the global economy as a whole as well as in terms of init's business activities have increased over the past few weeks. In light of this, the CEO's forecast placed group revenues for the year in a target range of between EUR 103 million and 107 million. Operating profit (EBIT) is predicted to lie between EUR 17 million and 19 million. "We see particular opportunities for further growth over the next few years in existing pent-up demand for new technologies in public transport as well as in Asia," says Greschner. End of Corporate News --------------------------------------------------------------------- 15.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------- Language: English Company: init innovation in traffic systems AG Käppelestraße 4-6 76131 Karlsruhe Germany Phone: +49 (0)721 6100 0 Fax: +49 (0)721 6100 399 E-mail: ir@initag.de Internet: www.initag.de ISIN: DE0005759807 WKN: 575980 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 268878 15.05.2014 |
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