DGAP-News: BAUER Aktiengesellschaft / Key word(s): AGM/EGM/Dividend BAUER Aktiengesellschaft: 26.06.2014 / 15:23 --------------------------------------------------------------------- - About 450 shareholders and guests in attendance at company headquarters - All proposed resolutions passed by large majorities Schrobenhausen - BAUER Aktiengesellschaft today held its Annual General Meeting at its headquarters location in Schrobenhausen, Upper Bavaria. About 450 shareholders, shareholders' representatives and guests took the opportunity to find out in person how the business is progressing at the on-site event. The agenda included resolutions to ratify the actions of the Management Board and Supervisory Board, the election of the company's auditors, and a contingent resolution relating to the acquisition of treasury stock. The shareholders approved the management's proposals by large majorities. Among the resolutions approved was in relation to the appropriation of net earnings, proposing that no dividend be paid in respect of the past financial year. In his report, Chairman of the Management Board Professor Thomas Bauer explained the reasons for the company's disappointing performance in 2013. Some significant special factors meant that the company returned a loss for the first time in 14 years. "After a year such as 2013, it is urgently necessary that funds should be retained within the business," commented Professor Thomas Bauer, while at the same time emphasizing: "We remain fundamentally committed in future to a dividend policy whereby our shareholders enjoy an appropriate share in the company's success." Professor Bauer's presentation focused on the global structure and technological innovation of the construction engineering and machinery manufacturing concern. As one example, he cited the cooperation agreement with Saxon Energy Services Inc., a subsidiary of Schlumberger, the world's leading provider of exploration and oilfield services. The BAUER Group recently signed an engineering contract with the drilling company relating to the development and manufacture of onshore deep drilling rigs. Professor Bauer was optimistic about the current financial year: "We have made a positive start to the year. We have a sound foundation of orders in hand, and we further expect a sustained positive trend. We are still operating in a difficult market environment however." He reported that the financing of the business had been secured for the long term. In mid-April, the Group agreed a three-year syndicated loan with its bankers providing a EUR 450 million credit facility. Professor Bauer asserted his confidence that the full-year forecast, likewise made in April, would be met. The forecast predicts total Group revenues of around EUR 1.55 billion and profit after tax of around EUR 20 to 25 million, equating to EBIT of around EUR 75 million. The results of the votes, the presentation by the Chairman of the Management Board and other documentation relating to the Annual General Meeting can be found in the Investor Relations section of the website at www.bauer.de. About Bauer Bauer is a provider of services, machinery and products for ground and groundwater. The Group markets its products and services all over the world. Its global spread allows it to remain largely unaffected by fluctuating business cycles. The operations of the Group are divided into three segments: Construction, Equipment and Resources. The Construction segment carries out specialist foundation engineering work for complex excavation pits and foundations on major infrastructure and building projects all over the world, installing cut-off walls and carrying out ground improvement works as well as providing related project development services. Bauer's Equipment segment, a world market leader, offers a comprehensive range of construction machinery, equipment and tools for the specialist foundation engineering sector as well as for other underground drilling operations, such as for mines, water wells, geothermal energy sources, and oil and gas extraction. The Resources segment pools the Group's activities in the fields of water, energy, mineral resources and environmental technology. Bauer profits greatly from the collaboration between its three separate segments, enabling the Group to position itself as an innovative, highly specialized provider of complete solutions and services for demanding projects on the specialist foundation engineering and related markets. Founded in 1790, Bauer today generates around three quarters of its total revenues outside of Germany. Employing some 10,300 people, the Group's total revenues in 2013 were approximately EUR 1.5 billion (previous year: EUR 1.44 billion). BAUER Aktiengesellschaft has been listed on the official market of the Frankfurt Stock Exchange since July 4, 2006 (Prime Standard, ISIN DE0005168108). Contact: Christopher Wolf Investor Relations BAUER Aktiengesellschaft BAUER-Strasse 1 86529 Schrobenhausen, Germany Phone: +49 8252 97-1797 Fax: +49 8252 97-2900 [email protected] www.bauer.de End of Corporate News --------------------------------------------------------------------- 26.06.2014 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. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: BAUER Aktiengesellschaft BAUER-Straße 1 86529 Schrobenhausen Germany Phone: +49 (0)8252 97 1218 Fax: +49 (0)8252 97 2900 E-mail: [email protected] Internet: www.bauer.de ISIN: DE0005168108 WKN: 516810 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 275404 26.06.2014