04.07.2018
va-Q-tec AG DE0006636681
DGAP-News: va-Q-tec AG: va-Q-tec AG holds successful 2018 AGM
DGAP-News: va-Q-tec AG / Key word(s): AGM/EGM
va-Q-tec AG: va-Q-tec AG holds successful 2018 AGM
04.07.2018 / 07:50
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Press release
va-Q-tec AG holds successful 2018 AGM
- More than 300 participants at the Würzburg Congress Centre
- High presence representing 73% of the share capital
- All agenda items approved by large majorities
Würzburg, 04 July 2018. va-Q-tec AG (ISIN DE0006636681 / WKN 663668), a
technologically leading supplier of highly efficient products and solutions
in the thermal insulation and cold chain logistics area, held its 2018
Annual General Meeting on 28 June 2018. More than 300 participants gathered
on the panorama level of the Würzburg Congress Centre to be informed in
detail by the Management Board about developments and trends in the 2017
financial year and the further outlook. As in the previous year, va-Q-tec
also welcomed numerous shareholders from Würzburg and the surrounding
region. A very high presence of shareholders also attended this year,
representing 73% of the share capital.
Dr. Joachim Kuhn, CEO and founder of va-Q-tec AG, comments: "We are very
pleased that so many shareholders came again to Würzburg to engage in lively
and constructive dialogue with us."
The Management Board reported in detail on the 2017 financial year and the
first quarter of 2018. Accordingly, 2017 significantly reflected
considerable, strategic investments in site expansions, capacities and
structures, the internationalisation, the further expansion of the container
and box fleets, as well as the international teams of va-Q-tec AG. Revenue
in 2017 was up by 32% year-on-year, increasing from EUR 35.5 million to EUR
46.9 million. Earnings before interest, tax, depreciation and amortisation
(EBITDA) rose by 4% to EUR 7.2 million. The company also succeeded in adding
some major customers to its customer base. As of the end of 2017, the
va-Q-tec Group employed a total of 390 staff at meanwhile eight locations
worldwide. Together with the numerous logistics sites of the international
rental business, va-Q-tec already acts as a recognised global player, and as
a reliable partner to blue-chip customers worldwide.
In the first quarter of 2018, the company continued to implement its
strategy, realising significant investments in its two locations in Würzburg
and Kölleda, in machinery and equipment for capacity expansion, as well as
in the expansion of the container and box fleets. The internationalisation
was also advanced with the opening of the new location in Langhorne, USA.
Total revenue in the first quarter of 2018 grew by 6% year-on-year to reach
EUR 12.0 million, almost matching the two record quarters of Q3 and Q4 in
2017 (EUR 12.1 million and EUR 12.3 million respectively). At the same time,
however, revenues in the service business reduced by 12% year-on-year and
EBITDA decreased to EUR 0.7 million. In this context, the lack of revenue
growth in the service business as well as a marked increase in the
investment and cost base strongly affected results.
Stefan Döhmen, CFO of va-Q-tec AG, provided the following clarification at
the AGM: "Despite the revenue reduction in the rental business in the first
quarter of 2018, which is attributable to various factors, we remain
convinced of the superiority of va-Q-tec technology for high-performance
thermal containers and boxes as well as the sustainable benefit of rental
models compared with one-way or disposable solutions, and we accordingly
expect a stronger business trend over the further course of the financial
year."
Dr. Kuhn emphasised: "There is physically no better insulating technology
than that of va-Q-tec based on the vacuum. But sometimes patience and
stamina is needed to fully establish a top technology like ours in the
market. For this reason, we are also not thinking in terms of quarters but
rather looking at the long-term development, where we are just at the
beginning. As a founder and shareholder, I myself am firmly convinced of the
substance and sustainability of our company."
Overall, the Management and Supervisory boards were well received by the
shareholders in attendance: all agenda items were approved with approval
rates between 94% and 99%. In particular, all Supervisory Board members were
re-elected for a further period of office. The election was held as
individual elections in accordance with the recommendation of the German
Corporate Governance Code (DCGK). Dr. Gerald Hommel will continue to act as
Supervisory Board Chairman.
The detailed voting results of the 2018 Ordinary AGM are available for
downloading from the corporate website of va-Q-tec within the Investor
Relations/Annual General Meeting area.
+++END+++
IR contact
va-Q-tec AG
Felix Rau
Telephone: +49 931 35942 - 2973
Email: [email protected]
cometis AG
Claudius Krause
Telephone: +49 611 - 20 585 5-28
Email: [email protected]
About va-Q-tec
va-Q-tec is a leading supplier of high-performance products and solutions in
thermal insulation and cold chain logistics. The company develops, produces
and markets highly efficient and consequently thin vacuum insulation panels
(VIPs) as well as phase change materials (PCMs) for reliable and
energy-efficient temperature controlling. In addition, va-Q-tec produces
passive thermal packaging systems (containers and boxes) through optimally
integrating VIPs and PCMs, which can maintain constant temperatures,
depending on type, up to 200 hours without external energy input. To
implement temperature-sensitive logistics chains, va-Q-tec - within a global
partner network - operates a fleet of rental containers and boxes meeting
demanding thermal protection standards. Along with healthcare & logistics as
the main market, va-Q-tec addresses the following further markets: Appliance
& Food, Technics & Industry, Building and Mobility. The high-growth company,
which was founded in 2001, is based in Würzburg, Germany. Further
information: www.va-q-tec.com
---------------------------------------------------------------------------
04.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: va-Q-tec AG
Alfred-Nobel-Straße 33
97080 Würzburg
Germany
Phone: +49 (0)931 35 942 0
Fax: +49 (0)931 35 942 10
E-mail: [email protected]
Internet: www.va-Q-tec.com
ISIN: DE0006636681
WKN: 663668
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Stuttgart,
Tradegate Exchange
End of News DGAP News Service
---------------------------------------------------------------------------
701325 04.07.2018
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
va-Q-tec AG ISIN: DE0006636681 können Sie bei EQS abrufen
Oberflächen/Verpackung , 663668 , VQT , HAM:VQT