Glunz & Jensen Holding A/S · OMXCOP:GJ
Glunz & Jensen Holding A/S — Shareholder Meeting (April 2024)
30 slides from Glunz & Jensen Holding A/S's shareholder meeting presentation, Apr 10, 2024
Slide 1: Welcome to the annual general meeting in Glunz & Jensen Holding A/S 2024
Welcome to the annual general meeting in Glunz & Jensen Holding A/S 2024 Wednesday, April 10th, 2024 The content in this presentation has been made available in annual reports and in company announcements – and the presentation is also uploaded on Glunz-Jensen.com, see under annual general meeting f
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 2023 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 2023 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 4: 2023 overview
2023 overview Revenue, MDKK 2023 was – from an operational point of view – a good year for Glunz & Jensen: - Delivery service to our customers of equipment and spare parts improved during the year, as the supply of parts became normalized. - We realized the highest activity within the offset segment
Slide 5: Business focus 2023 and 2024
Business focus 2023 and 2024 Sales • 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 challenging
Slide 6: The new management team worked well
The new management team worked well Executive board • CEO Henrik Blegvad Funk as of January 1st, 2023, former CFO as of April 1st, 2016. • COO Robert Popik was promoted to the executive board in January 2023, COO since April 1st, 2020. Senior management • CCO Per Arild rejoined Glunz & Jensen in Feb
Slide 7: 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/Senior Executive Management – Fixed salary – Short term bonus program – performance based • Senior Managers – Fixed salary – Short
Slide 8: 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 9: 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 2023 with auditor’s report for approval. 3. Decharge for the board of directors and management. 4. Proposal for appropriat
Slide 10: Annual report - 2023
Annual report - 2023 GLUNZ & JENSEN™ 10
Slide 11: 2023 overview
2023 overview MDKK Gross margin was affected by market conditions • Higher-than-normal inflation in Slovakia and neighboring countries led to higher prices on mechanical parts, electronic components, electricity, and gas. • Sales prices were increased during 2023 to compensate for higher costs. • We
Slide 12: Share/market value development/shareholder composition
Share/market value development/ shareholder composition Glunz & Jensen Holding A/S shares (source: Euronext Securities)) April 10, 2024 December 31, 2023 December 31, 2022 March 31, 2022 March 31, 2021 Ending price 71,50 71,50 74,50 77,50 65,00 Trading volume per year n/a 57.706 73.551 162.078 313.9
Slide 13: Annual report - 2023 Profit & loss statement
Annual report - 2023 Profit & loss statement DKK mill. 2023 2022 Revenue 143,3 103,4 Gross profit 31,9 27,5 Operating profit/(loss) 8,6 17,0 Profit/loss before financial income and expenses, tax, depreciation, amortization and impairment of assets (EBITDA) 10,8 18,2 Financial items, net (4,9) (1,8)
Slide 14: Annual report - 2023 Balance sheet
Annual report - 2023 Balance sheet DKK mill. 2023 2022 Assets Non-current assets 154,1 157,7 Current assets 64,2 82,8 Total assets 218,3 240,5 Liabilities Equity 101,2 98,4 Non-current liabilities 72,1 65,9 Current liabilities 45,0 76,2 Total liabilities 218,3 240,5 14
Slide 15: Annual report - 2023 Statement of cash flow
Annual report - 2023 Statement of cash flow DKK mill. 2023 2022 Cash from: Operating activities 14,0 (9,3) Investing activities (0,7) (1,4) Financing activities (13,0) 10,6 Net cash flow generated during the year 0,3 (0,1) Free cash flow 13,3 (10,7) 15
Slide 16: Annual report - 2023 Equity
Annual report - 2023 Equity DKK mill. 2023 Equity, December 31, 2022 98,4 Profit/(loss) for the year 2,9 Other comprehensive income, including exchange rate adjustments and value adjustments of hedging instruments. (0,1) Equity, December 31, 2023 101,2 16
Slide 17: Outlook (guidance) - 2024
Outlook (guidance) - 2024 GLUNZ & JENSEN™ 17
Slide 18: Outlook (guidance) 2024
Outlook (guidance) 2024 2024 2023 DKK mill. Outlook Actual Revenue 148 143,3 EBITDA 18 10,8 Profit before tax 10 3,5 ▪ Harvesting and further improving sales- and distribution via OEM partners and independent distributors. ▪ The rental income from the investment properties are back to normal as we d
Slide 19: 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 2023 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 20: 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 2023 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 21: 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 2023, and the Company's result for the year will be transferred to next year. Profit/(loss) for the year DKK 2,9 mill. Proposed dividend D
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 2023 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 23: 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 24: 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 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 2023 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 26: Election of 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 27: 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 2023 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 28: Election of auditor
Election of auditor Ad. 7: The Board of Directors proposes re-election of KPMG P/S as auditor of the Group. 28
Slide 29: 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 2023 with auditor’s report for approval. 3. Discharge for the board of directors and management. 4. Proposal for appropria
Slide 30: Thank you to shareholders, guests and employees
Thank you to shareholders, guests and employees For additional information: www.glunz-jensen.com 30
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