06/30/2020 15:00:00 CEST Due to Corona, the 2020 Annual General Meeting was held virtually | All items on the agenda approved; Management and Supervisory Board discharged by large majorities | Very profitable first quarter 2020 despite Covid-19 pandemic
Manz AG, a global high-tech engineering company with an extensive technology portfolio, successfully held its 2020 Annual General Meeting today, Tuesday. Due to the restrictions imposed by the Covid-19 pandemic, this year's General Meeting was conducted virtually. The presence of the represented share capital equaled approximately 61.0%; all items on the agenda were adopted by a large majority.
The Management Board used this opportunity to report to shareholders in detail on Manz AG's operational and strategic growth in fiscal year 2019, for which the Management and Supervisory Board were approved by a large majority at the General Meeting. In addition, the Management Board focused on the profitable first quarter of 2020 and the current situation.
While companies around the world are heavily impacted by the Covid-19 pandemic, Manz AG significantly improved its profitability in the first quarter of 2020 and recorded positive consolidated earnings. Considering the extraordinary situation since the start of the Covid-19 pandemic, the Management Board believes that the high-tech engineering company is well positioned for the future. As a result, Manz continued the commissioned projects as planned. The company is in regular contact with its customers regarding further promising project orders. In this regard, the Management Board would like to thank all employees in particular for their successful commitment over the last few months despite the impacts of the pandemic.
Martin Drasch, Manz AG's CEO, is correspondingly confident about the future after a challenging business year 2019: "We have made significant progress in terms of profitability thanks to highly efficient project processing and cost savings. We believe that future opportunities and prospects for us as a high-tech engineering company are good overall, even though Manz is naturally also facing particular challenges in the current difficult economic climate that we have weathered very well to date.
The detailed voting results for the respective agenda items will be made available for download in a timely manner on the company website www.manz.com in the Investor Relations / Annual General Meeting section.