|   Freudenstadt/Schopfloch

Annual general meeting of HOMAG Group AG - 2012

Management board reports on successful operations in fiscal year 2011

A total of around 347 shareholders took part in today’s annual general meeting of HOMAG Group AG in Freudenstadt – representing 82 percent of the capital stock. The shareholders present seconded the proposal of the management board and supervisory board not to pay out a dividend for the fiscal year 2011 owing to the net loss incurred. The management’s proposal as regards the election of the auditor for 2012 was also seconded. The management board and the supervisory board were exonerated.

By contrast, the shareholders present did not approve the point on the agenda to create new authorized capital. “The creation of new authorized capital was intended to provide us utmost flexibility for the coming five years. With this move, we wanted to maneuver into a position that would allow us to respond swiftly to emerging opportunities to invest in further growth. We will now have to request the annual general meeting to approve any concrete capital measures as the occasion arises,” said CEO Dr. Markus Flik. The remuneration system for the management board was not approved by the annual general meeting either.

In his speech, Dr. Flik looked back on fiscal 2011, a year in which the HOMAG Group produced a good operating result and initiated numerous measures for a successful future. In addition, he reported on the results of the first quarter of 2012, in which the Group was able to make considerable gains on the prior year, particularly as regards earnings indicators, and double its net profit for the period. Dr. Flik also reiterated the forecasts for the current fiscal year 2012. The management board still expects to return to net profit this year.

 

Disclaimer
This press release contains certain statements relating to the future. Future-oriented statements are all those statements that do not pertain to historical facts and events or expressions pertaining to the future such as “believes”, “estimates”, “assumes”, “forecasts”, “intend”, “may”, “will”, “should” or similar expressions. Such future-oriented statements are subject to risks and uncertainty since they relate to future events and are based on current assumptions of the Company, which may not occur in the future or may not occur in the anticipated form. The Company points out that such future-oriented statements do not guarantee the future; actual results including the financial position and the profitability of the HOMAG Group as well as the development of economic and regulatory framework conditions may deviate significantly (and prove unfavorable) from what is expressly or implicitly assumed or described in these statements. Even if the actual results of the HOMAG Group including the financial position and profitability as well as the economic and regulatory framework conditions should coincide with the future-oriented statements in this announcement, it cannot be guaranteed that the same will hold true in the future.

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