Dietikon, Monday, January 25, 2010
Shareholders of EGL approved the 2008/09 financial results and payment of an unchanged dividend at today's Annual General Meeting. They also approved a change of name: Elektrizitäts-Gesellschaft Laufenburg AG (EGL) has been renamed EGL AG. Hansueli Sallenbach was elected to the Board of Directors.
The 53rd EGL Annual General Meeting in Baden (Switzerland) was attended by 186 shareholders representing 93% of the voting rights. Shareholders approved the annual report and the financial results for the business year 2008/09 ended 30 September 2009. As already communicated, EGL increased its gross margin by 4% to CHF 810.4 million. Net profit fell year-on-year from CHF 315.4 million to CHF 186.7 million. Shareholders approved an unchanged dividend of CHF 18. The EGL Board of Directors was discharged and the re-appointment of KPMG AG as the statutory auditors was confirmed for a further year. Shareholders elected 43-year-old Hansueli Sallenbach, Head of Legal Services at Axpo Holding AG, to the EGL Board of Directors, as successor to Manfred Thumann who stepped down. Shareholders also approved the change of name: The shorter name EGL AG has come to be used more and more in recent years and is now official.
Chairman of the Board of Directors Heinz Karrer, CEO Hans Schulz and CFO Andreas Rudolf each reported at the General Meeting on the 2008/09 business year. Looking ahead to the future, Heinz Karrer made clear that EGL would continue to pursue its long-term strategy. In his future outlook, CEO Hans Schulz said: "The prevailing economic crisis will continue to influence energy demand in the real economy, with a resultant impact on energy trading markets. The challenges facing EGL this year will therefore be even greater than last year."
Further information
Media: Lilly Frei, Head Corporate Communications, Tel. +41 44 749 40 10, media.ch@egl.eu
Investors: Dominik Anderhalden, Head Investor Relations, Tel. +41 44 749 46 15, investor.ch@egl.eu
Media Release Annual General Meeting 2010
