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FURNITURE PRODUCTION - SALES INCREASE BY 15.5 PERCENT

Annual General Meeting_2023-12.JPG

2023-06-22 

On June 16, 2023, Klaus Feile, main shareholder and board member of Moralt AG, was able to present positive content for the 2022 financial year at the company's annual general meeting. “Despite major challenges, Moralt has successfully mastered 2022,” he emphasized.

Sales increased by 15.5 percent compared to the previous year, with a clearly positive result being reported. The export quota was 68 percent in 2022. One of the most prestigious properties of 2022 was the Mandarin-Oriental Hotel in Muscat/Oman, on the famous Shatti-Al-Qurum beach promenade.

The increase in equity and thus the increase in value of Moralt shares is 12.4 percent. The equity is 66 percent.

When the supervisory board members were elected, the previous incumbents, Harry Henningsen, Meinolf Hering and Albert Lipp, were confirmed by the general meeting for a further term of office. Since 2019, Moralt AG employees have been able to purchase shares at a preferential price. Through the associated ownership, voting and asset rights, wood-based materials specialist is increasingly involving its workforce in the company's development. Moralt is currently in the hands of a total of 15 shareholders, with board member Klaus Feile still holding 80 percent of the shares. Until the end of July, further share packages will be offered to everyone eligible as part of the ongoing employee participation program.

Source: moebelproduktion.com (June 22, 2023)

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