KUKA’s first digital Annual General Meeting: Supervisory Board and Executive Board granted discharge
At KUKA Aktiengesellschaft’s Annual General Meeting today, the shareholders formally approved the actions of CEO Peter Mohnen, CFO Andreas Pabst and the members of the Supervisory Board for the 2019 financial year. Interest was also focused on the effects of the coronavirus crisis.
June 19, 2020
Due to the coronavirus pandemic, this year’s Annual General Meeting in Augsburg was held as a virtual Annual General Meeting. “We are currently experiencing a pandemic and a severe global crisis that is also presenting KUKA with challenges,” KUKA CEO Peter Mohnen said in a video broadcast. “The health of our employees, shareholders and business partners is our top priority.”
In his speech, the CEO forewarned the shareholders of difficult months ahead. He said that KUKA came out of 2019 in a stable position, with the free cash flow back in positive territory again and a significantly improved operating result despite adverse market conditions but is now feeling the global effects of the pandemic. The impact on the forecast results cannot currently be estimated and no revenue and earnings forecast can be given. However, the crisis also reveals the opportunities offered by automation, according to Mohnen.
The future lies in the fields of automation, digitization and industrial connection – areas where KUKA is strong.
The shareholders followed the proposal of the Executive Board and Supervisory Board to pay a dividend of 0.15 euro per entitled share for the 2019 financial year. Shareholders had submitted their questions in advance via an online service. The Annual General Meeting also elected Dr. Chengmao Xu and Helmut Zodl as members of KUKA's Supervisory Board.
KUKA’s annual report as well as the full text of the CEO’s speech in German language will be published on the KUKA website and can be accessed via the following link: https://www.kuka.com/en-de/investor-relations/reports-and-presentations