Glunz & Jensen Holding A/s · OMXCOP:GJ
Glunz & Jensen Holding A/s — Shareholder Meeting (April 2023)
37 slides from Glunz & Jensen Holding A/s's shareholder meeting presentation, Apr 19, 2023
Slide 1: Welcome to the annual general meeting 2023
Welcome to the annual general meeting in Glunz & Jensen Holding A/S 2023 Wednesday, April 19th, 2023
Slide 2: Agenda
Agenda Appointment of the Chairman of the meeting 1. The board of director’s report regarding the company’s business in the past year. 2. Submission of the audited annual report 2022 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 3: Agenda
Agenda Appointment of the Chairman of the meeting 1. The board of director’s report regarding the company’s business in the past year. 2. Submission of the audited annual report 2022 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 4: The board of director's report regarding the company's business in the past year
The board of director’s report regarding the company’s business in the past year • Chairman – Introduction – 2022 overview – Annual evaluation of the board of directors – Share development/shareholder composition • CEO – Business focus 2022 and into 2023 • Sales focus • Markets • Supply Challenges 4
Slide 5: 2022 overview
2022 overview * We reached our revenue target for 2022 (9 months) of 103,4 MDKK. Revenue, MDKK Our commitment to deliver timely equipment, spareparts and services was challenged due to the impacts from the securing of supply of parts – especially electronic components. Higher-than-normal inflation l
Slide 6: 2022 overview
The difference between EBITDA and Profit before tax has decreased from 2018/19 to 2022. 2022 overview * In 2018/19 the net finance cost was 5,1 MDKK compared MDKK to 1,8 MDJKK in 2022 and depreciations and amortizations were 11,9 MDKK in 2018/19 compared to 1,1 MDKK in 2022. Thus decreasing the diff
Slide 7: 2022 overview
2022 overview • A satisfactory result – Revenue was DKK 103,4 mill. – vs. DKK 147,0 mill. in 2021/22 – EBITDA was DKK 18,2 mill. – vs. DKK 23,9 million in 2021/22 – Profit before tax reached DKK 15,3 mill. – vs. DKK 14,6 million in 2021/22 • Some high-lights – Business in focus on sales, R&D, and pr
Slide 8: Changes to the executive board and the senior management team
Changes to the executive board and the senior management team. Executive board. • Our former CEO, Martin Overgaard Hansen, resigned during 2022. He was replaced by Henrik Blegvad Funk, former CFO as of January 1st, 2023. • COO Robert Popik was promoted to the executive board in January 2023. • The e
Slide 9: Remuneration of the Board of Directors, the Executive Management and Senior Executives
Remuneration of the Board of Directors, the Executive Management and Senior Executives • The Board of Directors – Fixed fee – No incentive pay • The Executive Management – Fixed salary – Short term bonus program – performance based • Senior Executives – Fixed salary – Short term bonus program – perf
Slide 10: Annual evaluation of the Board of Directors
Annual evaluation of the Board of Directors In line with the recommendations in statutory statement (3.5.1) for corporate governance, the chairman of the Board of Directors reports on “annual evaluation of the Board of Directors and the individual members” as follows: After each board meeting, the B
Slide 11: Share/market value development/shareholder composition
Share/market value development/ shareholder composition Glunz & Jensen Holding A/S shares (source: Euronext Securities) April 19, 2023 December 31, 2022 March 31, 2022 March 31, 2021 March 31, 2020 Ending price 71,00 74,50 77,50 65,00 55,00 *) The Glunz & Jensen company Trading volume per year n/a 7
Slide 12: Business focus 2022 and 2023
Business focus 2022 and 2023 Sales focus • Benefits from consolidated manufacturing in Slovakia – including local sourcing and spare parts distribution • Continue to develop key-partnerships with OEM’s • Further utilize key position on the Offset market, including iCtP Market • Offset: Still a chall
Slide 13: Business focus 2022 and 2023 - Supply challenges
Business focus 2022 and 2023 Supply challenges • Delivery of equipment, spare parts and services - especially electronic components –became increasingly challenging during 2022 • Higher than normal inflation led to increased prices and some uncertainty to future pricing strategy • We experienced tha
Slide 14: Agenda
Agenda Appointment of the Chairman of the meeting 1. The board of director’s report regarding the company’s business in the past year. 2. Submission of the audited annual report 2022 with auditor’s report for approval. 3. Decharge for the board of directors and management. 4. Proposal for appropriat
Slide 15: Annual report - 2022
Annual report - 2022 GLUNZ & JENSEN™ 15
Slide 16: Annual report 2022 - Profit & loss statement
Annual report - 2022 Profit & loss statement DKK mill. 2022 2021/22 Revenue 103,4 147,0 Gross profit 27,5 39,1 Operating profit/(loss) 17,0 17,8 Profit/loss before financial income and expenses, tax, depreciation, amortization and impairment of assets (EBITDA) 18,2 23,9 Financial items, net (1,8) (3
Slide 17: Annual report 2022 - Balance sheet
Annual report - 2022 Balance sheet DKK mill. 2022 2021/22 Assets Non-current assets 157,7 152,7 Current assets 82,8 67,5 Total assets 240,5 220,2 Liabilities Equity 98,4 86,2 Non-current liabilities 65,9 70,1 Current liabilities 76,2 63,9 Total liabilities 240,5 220,2 17
Slide 18: Annual report 2022 - Statement of cash flow
Annual report - 2022 Statement of cash flow DKK mill. 2022 2021/22 Cash from: Operating activities (9,3) 23,2 Investing activities (1,4) (4,1) Financing activities 10,6 (18,9) Net cash flow generated during the year (0,1) 0,2 18
Slide 19: Annual report 2022 - Equity, December 31, 2022
Annual report - 2022 Equity, December 31, 2022 DKK mill. 2022 Equity, March 31, 2022 86,2 Profit/(loss) for the year 12,0 Other comprehensive income, including exchange rate adjustments and value adjustments of hedging instruments. 0,2 Equity, December 31, 2022 98,4 19
Slide 20: Outlook (guidance) - 2023
Outlook (guidance) - 2023 GLUNZ & JENSEN™ 20
Slide 21: Outlook (guidance) 2023
Outlook (guidance) 2023 2023 2022 DKK mill. Outlook Actual Revenue 135-140 103,4 EBITDA 13-16 18,2 Profit before tax 9-12 15,3 ▪ The sum of the depreciations/amortizations and the net financial cost is expected to be approx. 5 MDKK in 2023. ▪ Harvesting and further improving sales- and distribution
Slide 22: Agenda
Agenda Appointment of the Chairman of the meeting 1. The board of director’s report regarding the company’s business in the past year. 2. Submission of the audited annual report 2022 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 23: Agenda
Agenda Appointment of the Chairman of the meeting 1. The board of director’s report regarding the company’s business in the past year. 2. Submission of the audited annual report 2022 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 24: Proposal for appropriation of profits or covering losses
Proposal for appropriation of profits or covering losses The Board of Directors proposes to the Annual General Meeting that no dividend be distributed for fiscal 2022, and the Company's result for the year will be transferred to next year. Profit/(loss) for the year DKK 12,0 mill. Proposed dividend
Slide 25: Agenda
Agenda Appointment of the Chairman of the meeting 1. The board of director’s report regarding the company’s business in the past year. 2. Submission of the audited annual report 2022 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 26: Proposals from the board of directors or the shareholders
Proposals from the board of directors or the shareholders Ad. 5 a): Update of the company's remuneration policy for the Board of Directors, the Executive Board, the Audit committee, the Remuneration committee, and the Product committee The Board of Directors proposes no changes to the Board of Direc
Slide 27: Proposals from the board of directors or the shareholders
Proposals from the board of directors or the shareholders Ad. 5 a) continued: Update of the company's remuneration policy for the Board of Directors, the Executive Board, the Audit committee, the Remuneration committee and the Product committee The Board of Directors proposes confirmation of the rem
Slide 28: Proposals from the board of directors or the shareholders
Proposals from the board of directors or the shareholders Ad. 5 b): Proposal for updating the company’s incentive policy The board proposes an update of the company's guidelines for incentive policy. 28
Slide 29: Proposals from the board of directors or the shareholders
Proposals from the board of directors or the shareholders Ad. 5 c): Removal of the age restriction for the Company's board of directors in the Company's articles of association The board proposes that the age restriction of 65 years in paragraph 4.2 of the Company's articles of association is delete
Slide 30: Proposals from the board of directors or the shareholders
Proposals from the board of directors or the shareholders Ad. 5 d): Proposal to remove of paragraph 8 and 8.1 in the Company's articles of association Shareholder, Heliograph Holding GmbH, have proposed that the board's authority to decide on the distribution of extraordinary dividends is removed fr
Slide 31: Proposals from the board of directors or the shareholders
Proposals from the board of directors or the shareholders Ad. 5 e): Proposal to amend paragraph 4.1 in the Company's articles of association to 6 members of the Board of directors instead of 8. Shareholder, Heliograph Holding GmbH, have proposed that the maximal number of members of the board of dir
Slide 32: Agenda
Agenda Appointment of the Chairman of the meeting 1. The board of director’s report regarding the company’s business in the past year. 2. Submission of the audited annual report 2022 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 33: Election of members of the board of directors
Election of members of the board of directors. Ad. 6: The Board of Directors proposes that the Board of Directors consists of four members and proposes to re-elect Flemming N. Enevoldsen, Randi Toftlund Pedersen, Rolf Pfiffner and Max Rid to the Board of Directors. Søren Andersen and Thomas Haase we
Slide 34: Agenda
Agenda Appointment of the Chairman of the meeting 1. The board of director’s report regarding the company’s business in the past year. 2. Submission of the audited annual report 2022 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 35: Election of auditor
Election of auditor Ad. 7: The Board of Directors proposes re-election of KPMG P/S as auditor of the Group. 35
Slide 36: Agenda
Agenda Appointment of the Chairman of the meeting 1. The board of director’s report regarding the company’s business in the past year. 2. Submission of the audited annual report 2022 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 37: Thank you to shareholders, guests and employees
Thank you to shareholders, guests and employees For additional information: www.glunz-jensen.com 37
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