The Emsland-Stärke AG holding company’s 17th Annual General Meeting saw a full house at Mep-pener Gasthof Kamp at the end of January 2020. A good 300 participants made the trip to hear about the development of the 2018/19 financial year from the executive board and about the current financial year from management.
After opening the Annual General Meeting, Chairman of the Supervisory Board, Mr. Bakker, explained that the annual financial statement, the consolidated financial statement and the management reports had been audited by the auditing firm and approved by the Supervisory Board.
In his presentation, Mr. Gerrit-Jan Wesselink, executive board member of the Emsland-Stärke AG holding company, provided an insight into the consolidated financial statements and a forecast of the current financial year. Despite a significant decline in volume due to drought-related low processing volumes, net sales increased over the previous year. This was made possible by, among other things, by reacting early to weather conditions and compensating for lower sales volumes with higher selling prices – only two of many reasons why we managed to achieve a good operating result in 2018/19 despite the catastrophic harvest. The good figures are, after all, the result of many factors to which all Group employees contributed, as did the many farmers attending and even the suppliers and customers of the Emsland Group.
At the end of the first part (the actual Annual General Meeting), participants voted to adopt the proposal for the use of the balance sheet profit and formally approved the actions of the members of the executive and supervisory board.
In the second part of the meeting, management first of all presented the campaign report. The report once again touched upon the difficult situation caused by the below-average harvest in 2019. In addition, the raw materials assurance model developed by the Emsland Group and the representatives of the producers was presented. This model supports growers by offsetting a portion of the damage by offering a drought subsidy and simultaneously providing incentives to deliver as much raw material as possible.
Mr. Christian Kemper (CSO) subsequently provided a close look at native starches and derivatives based on potatoes and peas in his observations regarding the sales markets of Emsland-Stärke GmbH. He also commented on the flake and granulate market, including a corresponding package of measures.
Mr. Stefan Hannemann (COO) then reported on the Operations division, explaining the extensive investments and special maintenance measures. Both the newly constructed dextrin factory in Kyritz and the start of construction of the new autoclave plant in Emlichheim deserve special mention here.
Mr. Peter Höning (CFO) rounded out the meeting with his financial report. Alongside budget targets and the current profit situation, it included an outlook up to the 2022/23 financial year and a financial overview of current investments.
After a good three hours the participants helped themselves to the sumptuous buffet and exchanged impressions about what they had just heard. This ended a very informative 17th Annual General Meeting. In addition to the Annual Report 2018/19, participants could also take along printed versions of the current Emsland News and the Emsland Group’s first sustainability report.