DGAP-News: Graphit Kropfmühl AG / Key word(s): AGM/EGM
Graphit Kropfmühl AG: Successful Annual General Meeting / positive
forecast for 2011
16.06.2011 / 08:28
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Kropfmühl, Germany, 16 June 2011 --- The Annual General Meeting of Graphit
Kropfmühl AG (DEUTSCHE BOERSE: 'GKR') was held in Munich today. About 70
shareholders and guests followed the invitation and attended the Annual
General Meeting in the Munich Conference Centre of the Hanns Seidel
Foundation.
In its presentation of the annual financial statements the Management Board
reported a successful fiscal year 2010: 'Supported by the economic upturn
business in the year 2010 developed very positively for the Graphit
Kropfmühl group. The demand for GK products clearly increased in the main
sales markets and application fields. Turnover and earnings targets were
exceeded in both segments. In the group the turnover increased from EUR
84.6 million to EUR 96.9 million. As a result the consolidated earnings for
the year (EBIT) increased from EUR 1.0 million to EUR 2.8 million.'
This positive business development also continued in the 1st quarter of
2011, and for the group the Management Board compared to the 1st quarter of
2010 thus reported a 42.9 % jump in turnover to EUR 30.9 million. Earnings
(EBIT) in the 1st quarter of 2011 amounted to EUR 3.9 million.
Based on the excellent development of turnover and earnings in the first
quarter of 2011, the current course of business, and the forecasts for the
remaining fiscal year 2011, the Management Board of Graphit Kropfmühl AG -
as already reported - raises its turnover forecast for the total year 2011
to more than EUR 110 million.
Provided that the future overall economic development remains stable, the
Management Board of Graphit Kropfmühl AG expects that earnings will develop
in accordance with the turnover increase.
The Management Board also reported about the raw material securing projects
of the graphite segment. The exploration projects in Mozambique, Africa,
proceed according to plan. A decision about the implementation and the
financing possibilities of the projects is planned for the 2nd half year of
2011.
The Annual General Meeting approved the items on the agenda that were put
to the vote with majorities of more than 99 %. The Annual General Meeting
resolved to approve the actions of the Management Board and Supervisory
Board members, and elected the auditor for fiscal year 2011.
In view the clear voting results Dr. Heinz Schimmelbusch, Chairman of the
Supervisory Board of Graphit Kropfmühl AG, spoke of genuine 'graphite
results' that absolutely live up to the high-quality silicon-metal and
graphite products with purities of 99.5% and higher.
In its Supervisory Board Meeting on 15 June 2011 the Supervisory Board of
Graphit Kropfmühl AG resolved to renew the Management Board contract of Mr.
Hans-Detlef Antel for another three years.
For further information on Graphit Kropfmühl AG please visit
www.gk-graphite.com.
Financial calendar
6-month report 2011 10 August 2011
9-month report 2011 09. November 2011
German Equity Forum, Frankfurt 21 - 23 November 2011
Forward-looking statements
This press release contains statements about future developments that are
based on currently available information and may involve risks and
uncertainties, the result of which may be that the actual results may
differ from the forward-looking statements. Statements about future
developments must not be understood as guarantees. Future developments and
events rather depend on a variety of factors, they contain various risks
and imponderabilities and are based on assumptions that might turn out to
be incorrect. For example, these include unforeseeable changes of the
general political, economic, and social conditions.
Information on the company
Graphit Kropfmühl AG is a specialist for the production of silicon-metal
and a globally leading supplier of refined natural graphite, with locations
in Europe, Asia and Africa. The company that is listed in the Prime
Standard (ISIN: DE0005896005) provides its customers with silicon-metal and
graphite solutions for the most versatile applications. Silicon-metal is
used in the chemical, aluminium, semiconductor and solar cell industries.
High-quality graphite among others is used in lubricants, carbon brushes
for electric motors, and in the chemical industry, for example for thermal
insulation and energy saving programs.
End of Corporate News
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Language: English
Company: Graphit Kropfmühl AG
LangheinrichstraÃe 1
94051 Hauzenberg
Deutschland
Phone: +49 (0)8586/609-197
Fax: +49 (0)8586/609-111
E-mail: ir@gk-graphite.com
Internet: www.gk-graphite.com
ISIN: DE0005896005
WKN: 589600
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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128725 16.06.2011
DGAP-News: Graphit Kropfmühl AG: Successful Annual General Meeting / positive forecast for 2011
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