The response by the shareholders to the 16th annual general meeting of the holding company of Emsland-Stärke AG was considerable. A good 350 participants took up the invitation to attend the event in Meppen on Wednesday, 2/6/2019.
The suppliers of raw materials to the corporate group were welcomed by Gebhardt Bakker who opened the general meeting with the report from the Supervisory Board and gave a first foretaste of the past 2017/2018 fiscal year. The Executive Board of the Emsland Group, which was newly formed in 2018 and comprises Gerrit-Jan Wesselink (spokesman of the Executive Board and CEO), Peter Höning (CFO), Christian Kemper (CSO) and Stefan Hannemann (COO) were also introduced again.
In his report from the Executive Board of Emsland-Stärke AG, Gerrit-Jan Wesselink then gave an insight into the group’s earnings situation and the key performance indicators, as well as a summary of the 2017/18 fiscal year. In the process, the group’s particularly good economic development was highlighted, whereby the operational and financial targets as well as the above-average harvest yields considerably exceeded the earlier planning. Consolidated annual earnings had increased strongly compared to the previous year, which resulted, among others, from the high processing volumes.
At this point, Gerrit-Jan Wesselink already gave an initial outlook for the current fiscal year because all the participants could still clearly recall the very hot summer with its extreme drought in 2018. But despite the considerable shortfall in the contractual volumes, good consolidated earnings were also predicted for 2018/19. This was down, not least, to the contingency plan which the corporate group had already introduced early on. In addition to diverse measures in the individual plants, a program to safeguard raw materials was initiated as a consequence of the historically low potato harvest. This included a drought subsidy package as well as a premium for the growers to safeguard raw materials and amounted to a two-digit million sum.
In his capacity as a Board member of the holding company Emsland-Stärke AG, Dr. Hausmann provided an overview of the status of the proceedings regarding the disputes with the former Board members.
After the annual general meeting, the managing directors gave a comprehensive insight into their respective areas of responsibility: raw materials purchasing, sales, operations and finances. In addition to the completed 2017/2018 fiscal year, all presentations also gave a detailed insight into the current 2018/19 fiscal year and beyond. In the process, particularly the many strategic new investments that it has been possible to approve due to the current earnings situation were presented. As well as the challenges for the future, a thoroughly positive outlook for the upcoming fiscal years was given and this is undoubtedly also based on the loyal supply with raw materials by the participating shareholders.
In light of the numbers of visitors, the minimal background noise was highly significant. The participants listened to the individual speakers keenly and attentively. There were no questions after the respective presentations and the overall mood was also very positive.
Before the participants subsequently refreshed themselves at the copious buffet, their attention was drawn to the numerous follow-up events. Other corresponding presentations will follow in February 2019 in the individual plants and, among others, in Nordhorn.
An overview of the dates of the winter event can be found here:
10 am Kyritz/Golßen (Waldschlösschen)
3 pm Hagenow (Alpincenter Wittenburg)
9 am Wittingen (Landgasthaus "zur Linde" Hankensbüttel)
2 pm Wietzendorf (Hotel Hartmann, Wietzendorf)
Participants: all four managing directors, Mr. Riekert and Mr. Vortherms.
02/11/2019 Noord Sleen
Start everywhere: 7.30 pm
Participants: Mr. Riekert, Mr. Wijnholds and Mr. Speulman (Mr. Wesselink in Noord Sleen)