Energiekontor AG / DE0005313506

Energiekontor AG: Annual General Meeting approves management proposals by large majority

Energiekontor AG / Key word(s): AGM/EGM


29.05.2024 / 18:58 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Annual General Meeting approves management proposals by large majority Bremen, 29 May 2024 – Today’s Annual General Meeting of Energiekontor AG (“Energiekontor”), one of Germany’s leading project developers and operators of wind and solar parks, based in Bremen, was held as an in-person event in Ritterhude near Bremen. The company’s shareholders approved the motions proposed by the Management Board and Supervisory Board by a large majority on all agenda items relevant to the vote. Around 73 percent of the registered share capital was represented. The Annual General Meeting approved the actions of the members of the Management Board and the Supervisory Board and approved the appointment of a new auditor for the financial statements and consolidated financial statements, with the previous audit firm having audited the company for the last ten consecutive years. The Annual General Meeting also approved the payment of remuneration to the members of the Supervisory Board and approved the remuneration report for the 2023 financial year submitted by the Management and Supervisory Board. In addition to two formal amendments to the articles of incorporation, the Annual General Meeting of Energiekontor AG also resolved to cancel the existing authorisation to issue subscription rights to shares to the company’s Management Board members, as well as to create new conditional capital and a share option programme for the members of the Management Board. Energiekontor remains a reliable dividend stock Energiekontor closed the 2023 financial year very successfully and met the guidance increased in December 2023 at the upper end of the range. In view of the record result achieved (Group net profit before taxes, EBT) totalling 95.5 million euros, shareholders are to continue to participate in the company’s success. The Management Board and Supervisory Board therefore once again proposed to the Annual General Meeting that around 30 percent of Energiekontor AG’s balance sheet profit be used for dividend distribution, which corresponds to the payment of a dividend of 1.20 euros per dividend-bearing share and an increase of 20 percent compared to the previous year. The Annual General Meeting also passed this proposed motion by a large majority. Further growth potential Energiekontor published its qualitative interim report for the first quarter of 2024 on 13 May 2024. In the reporting period and beyond, the company continued to push the expansion and technological diversification of the Group’s own park portfolio. Additional expansion and sales potential is driven by a large number of existing building permits with a total generation volume of almost one gigawatt. Energiekontor understands its strong project pipeline as being the bedrock for its planned growth process in the coming years. In his speech, Peter Szabo, CEO of Energiekontor AG, emphasised the consistent expansion of the company’s own portfolio. With two wind parks and two solar parks, four projects with a total nominal power of more than 100 megawatts are currently under construction, which will increase the total generation capacity of the Group’s own parks to around 500 megawatts when they come on stream. In the future, further wind and solar projects with a capacity of 100 to 150 megawatts with a planned financial close in 2024 will be added, which will also be transferred to the company’s own portfolio after commissioning. These include two French solar parks with around 44 megawatts, for which Energiekontor received building permits in the first quarter of 2024, its first two in France. More are set to follow. In addition to projects currently under construction, many more projects will be moving into the realisation phase in the near future, enabling Energiekontor to successfully continue its growth strategy while systematically expanding its own park portfolio. The company continues to remain on track successfully to achieve its target Group net profit (EBT) of around 120 million in euros the 2028 financial year. The invitation to the Annual General Meeting of Energiekontor AG, the presentation of the Management Board, the voting results and the information in accordance with Table 8 of the Annex to Implementing Regulation (EU) 2018/1212, as well as further information, are available on the website at https://www.energiekontor.de/en/investor-relations/annual-general-meeting.html. About Energiekontor AG For over 30 years, Energiekontor has stood for a solid business policy and extensive experience in renewable energies. Founded in Bremerhaven, Germany, in 1990, the company is among the pioneers in its industry and is now one of Germany’s leading project developers. Its core business ranges from the planning and construction to the operational management of wind and solar parks in Germany and abroad. In addition, Energiekontor operates 38 wind and solar parks with a nominal power of more than 380 megawatts in its own portfolio. More than 100 megawatts, which are also earmarked for the Group's own portfolio, are currently under construction.  Energiekontor also plays a pioneering role in economic terms and aims to realise the first wind and solar parks in all target markets at market prices as quickly as possible, independently of state subsidies. Along with its headquarters in Bremen, Germany, Energiekontor has offices in Bremerhaven, Hagen im Bremischen, Aachen, Augsburg, Berlin, Berlin-Spandau, Potsdam and Hildesheim. The company also has branch offices in England, Scotland, Portugal, France and the United States. Since being established, Energiekontor has a proud track record of realising more than 160 wind and solar park projects with a total generation capacity of around 1.4 gigawatts. This corresponds to an investment volume of more than 2.0 billion euros (31 December 2023). The significantly expanded project pipeline in the 2023 financial year (10.7 gigawatts excluding US project rights) shows the future growth potential and the possible contribution that Energiekontor can make to expanding renewable energies. Energiekontor AG (WKN 531350/ISIN DE0005313506/General Standard) is listed in the SDAX and the TecDAX of the German Stock Exchange in Frankfurt and can be traded on all German stock markets. Contact Julia Pschribülla
Head of Investor & Public Relations
Phone: [phone]
Email: [e-mail] Energiekontor AG
Mary-Somerville-Strasse 5
28359 Bremen
Germany Phone: [phone]
Fax: [phone]
Email: [e-mail]
Web: www.energiekontor.de/en/index.html  

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29.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	Energiekontor AG
	Mary-Somerville-Straße 5
	28359 Bremen
	Germany
Phone:	04 21/33 04-126
Fax:	04 21/33 04-4 44
E-mail:	[e-mail]
Internet:	www.energiekontor.de
ISIN:	DE0005313506
WKN:	531350
Indices:	SDAX, TecDAX
Listed:	Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1914007

End of News	EQS News Service

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1914007  29.05.2024 CET/CEST