Publications

Financial and press releases

Bergisch Gladbach, 22 May 2024

Annual Meeting of INDUS Shareholders focuses on scope for growth

- Dividend payment of EUR 1.20 per share resolved
- All agenda items adopted by a large majority

At today’s Annual Shareholders’ Meeting of INDUS Holding AG at Koelnmesse’s Congress Centre North, a large majority of the shareholders approved all proposals made by the management for all voting items on the agenda. The attending shareholders represented around 54 percent of the registered share capital. This year, the Annual Shareholders’ Meeting was held as a physical meeting again.

In his speech, Dr. Johannes Schmidt, Chairman of the Board of Management of INDUS Holding AG, emphasized the SME Group’s great scope for growth, especially in fields that will be important in the future: “We’re closely analyzing what the market will need in the future. Let’s take artificial intelligence for example: AI will permanently change all the processes at our portfolio companies. Our task is to invest wisely and to identify and implement the right applications.” INDUS supports its portfolio companies with an AI initiative that includes both training programs and development funds for specific AI projects. GESTALT AUTOMATION, a specialist in AI-supported automation solutions for industrial applications, became part of the INDUS Group in March 2024.

Growth through future-oriented acquisitions and internationalization

In addition to the acquisition of GESTALT AUTOMATION, INDUS has added two further promising acquisitions to its portfolio since the beginning of the year. GRIDCOM, a specialist for passive fiber-optic infrastructure components, and COLSON X-Cel, a manufacturer of industrial valves for measurement and control engineering, are successful niche providers in markets of the future. Together with QUICK Bauprodukte, a specialist in formwork and reinforcement accessories, particularly for bridge construction, the latest acquisitions presented themselves to the shareholders at an accompanying exhibition. INDUS plans to continue growing in 2024. “It is a good time to buy companies,” said Schmidt. “We haven’t seen such a wealth of interesting projects for some time. And hidden champions in future fields can be had for a reasonable price again.”

In his speech, Schmidt also emphasized internationalization as an important factor in the development of the INDUS portfolio companies: “We’re currently witnessing an increasing decoupling of the major power and economic blocks. That means it is all the more important for our portfolio companies to establish a local presence in the markets that are interesting for them, always with a ‘local-for-local’ approach.”

He clearly criticized the current burden placed on companies by increasing regulation and bureaucracy in Germany and the EU: “I fully support the aims of these reporting obligations. But we would prefer to focus on the actual implementation of measures rather than on excessive reporting. It is my hope that a greater measure of common sense will return to politics, both at the European and German level. This unabated regulation frenzy does not create competitive advantages – as is claimed – but definitely competitive disadvantages.”

INDUS remains a reliable dividend stock

The Board of Management and the Supervisory Board had proposed the payment of a significantly higher dividend of EUR 1.20 per eligible share than in the previous year (EUR 0.80). This corresponds to a dividend yield of 5.4% (previous year: 3.6%). In the financial year 2023, the INDUS portfolio companies increased their operating income (EBIT) to EUR 149.6 million (previous year: EUR 133.7 million) despite difficult economic conditions. The Annual Shareholders’ Meeting approved the dividend proposal by a large majority. It was thus resolved to distribute a total amount of around EUR 31.0 million (previous year: EUR 21.5 million). “Following the restraint of recent years – with good reason – we are once again demonstrating that we are an attractive dividend stock,” said Schmidt.

The actions of the Board of Management and the Supervisory Board were fully approved and PricewaterhouseCoopers GmbH, Wirtschaftsprüfungsgesellschaft, Frankfurt am Main, was reappointed as auditor of the separate financial statements and the consolidated financial statements for the financial year 2024. The Annual Shareholders’ Meeting also approved the compensation report for the financial year 2023 and adopted an amendment to the Articles of Incorporation regarding the future compensation of the Supervisory Board members. A further amendment to the Articles of Incorporation regarding the right to participate in the Annual Shareholders’ Meeting was necessary due to a change in the law: The record date for proof of share ownership now relates to the close of business on the 22nd day prior to the Annual Shareholders’ Meeting rather than the beginning of the 21st day as previously. The Annual Shareholders’ Meeting approved the conclusion of a control and profit and loss transfer agreement between INDUS Holding AG and INDUS Omega GmbH.

For further information on the Annual Shareholders’ Meeting, the speech by the Chairman of the Board of Management, Dr. Johannes Schmidt, and the voting results, click here.

Note:

This press release contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of INDUS Holding AG and comprise known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. INDUS Holding AG assumes no obligation to update forward-looking statements.

Axel Meyer

COO Engineering
Axel Meyer (German citizen, born 1968) has been a member of the INDUS Board of Management since October 2017.

Until joining INDUS, he held various management positions at Schuler AG, most recently as Managing Director of Schuler Pressen and Head of the Service Division of the Schuler Group, Goeppingen, Germany.

Previously, Axel Meyer worked as a member of the Board of Management of the international management consultancy IMAGIN Prof. Bochmann AG, Eppstein im Taunus, Germany. He started his professional career in the Schuler Group's Solid Forming Division, initially in global sales and later as Division Manager.

Axel Meyer studied industrial engineering in Germany and the USA and earned a Master of Mergers & Acquisitions (LL.M.) at the Frankfurt School of Finance & Management while working. 

Gudrun Degenhart

COO Materials Solutions
Gudrun Degenhart (German citizen, born 1970) has been a member of the Board of Management of INDUS since October 2023.

She has more than 20 years of experience in the management and development of portfolio companies in Europe, USA and the Asia-Pacific regions.

Before joining INDUS, Gudrun Degenhart was CEO for the German portfolio companies of the international service group ISS. She previously worked for the thyssenkrupp Group, including as CEO of the international business unit for special lifts and as CEO of Materials Western Europe and Asia-Pacific. She gained experience in medium-sized companies as a board member of the construction technology company Schöck.

A graduate in business administration, she began her career by building up the Central and Eastern European activities of the construction specialist Lindner Group. 

Dr. Jörn Großmann

COO Infrastructure
Dr. Jörn Großmann (German citizen, born 1968) has been a member of the INDUS Board of Management since January 2019.

Up until joining INDUS, he worked for the Dutch group Aalberts Industries, with his last position being the sole managing director of Impreglon, Lüneburg, Germany.

He previously held various positions at the Georgsmarienhütte Group, initially becoming managing director of Mannstaedt, Troisdorf, Germany and later managing director of GMH Edelstahl Service Center Burg and GMH Engineering. Before Dr. Großmann became the managing director of Buderus Feinguss, Moers, Germany, he worked as a development engineer and as a technical director for Doncasters Precision Castings, Bochum, Germany.

He studied material sciences and earned a doctorate in the field of natural sciences.

Dr. -Ing. Johannes Schmidt

CEO
Dr. -Ing. Johannes Schmidt (German citizen, born 1961) has been a member of the Board of Management of INDUS since January 2006. He has assumed the position of CEO since July 2018.

Dr. -Ing. Schmidt was previously the sole managing director of ebm-papst Landshut, Germany, a manufacturer of ventilation motors and fans. During his tenure there, his main achievements included advancing the development of new product platforms and the internationalization of production sites.

Dr. -Ing. Schmidt began his career at Richard Bergner, a manufacturer of electrical instruments from Schwabach, Germany. He initially led product development before rising to the position of managing director during his 12 years at the company.

Schmidt, who studied mathematics, gained an engineering doctorate in mechanics from the Technical University of Darmstadt. 

Rudolf Weichert

CFO
Rudolf Weichert (German citizen, born 1963) is the CFO of INDUS.

Before joining the INDUS Board of Management in June 2012, he was a Partner at KPMG for nine years. He spent three of these years in Detroit, Michigan, United States, where he worked mainly with companies in the engineering, and materials trading industries.

Mr. Weichert, who holds a masters degree in business administration, worked for KPMG for about 20 years, primarily in the firm’s Duesseldorf office, where he worked mainly with multinational manufacturing corporations.