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GENERAL MEETING OF MORALT AG WITH NEW SHAREHOLDERS

AGM Manuel Ehrtmann Harry Henningsen.JPG

2020-07-30

The Annual General Meeting on July 17, 2020 will go down as a historic day in the history of Moralt AG. The general meeting with the newly added shareholders took place for the first time.

In 2019, an employee participation program with the award of shares was launched. Through the acquisition of shares and the associated ownership, voting and asset rights, Moralt AG wants to involve its employees more closely in the development of the company. A total of 15 shareholders currently hold shares in Moralt AG, with board member Klaus Feile still holding 80% of the shares.

“Always act as if it were your own company!” This was the motto of the annual general meeting of Moralt AG for the 2019 financial year with the new employee-shareholders. In addition to the shareholders' group and the board of directors, the supervisory board was also represented by the following gentlemen: Harry Henningsen (chairman), Meinolf Hering (deputy chairman) and Albert Lipp. After the opening of the general meeting, Klaus Feile was appointed chairman of the meeting. He gave an insight into the business development and strategic direction of the traditional company, which has had a seamless and impressive success story with many international reference objects since concentrating on the 'door systems' business area in 2013. Moralt AG’s export quota was 72% in 2019. One of the most prestigious properties of 2019 was the CoEx Conference & Exhibition Center for the World Expo in Dubai.

A significant increase in sales of 8.8% was again reported for the 2019 financial year. Equity increased by 12.9%, so that the equity ratio increased to 69%. Tax advisor, Ms. Gabriele Witte, explained the annual financial statements and the most important business figures via video conference. Based on this annual report and the positive development of the past few years, Moralt AG enjoys an excellent credit rating and looks positively to the future despite the current challenges caused by the Corona crisis. After the actions of the Executive Board and the Supervisory Board were discharged, it was unanimously decided to carry forward the balance sheet results. This means that Moralt AG shares achieved a return of 12.9% in the 2019 financial year.

With door blanks and application systems for outdoor and indoor functional doors, Moralt AG offers extensive door solutions, for example with thermal insulation, burglary resistance, sound, fire, smoke protection and much more, and holds certificates and approvals for this in various European countries. In addition, Moralt also offers international know-how outside of the European world of standards. Since 2016, 40 employees have been producing at the Hausham location and working intensively to continue the company's growth and modernization.

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