HGears AG: Annual Normal Assembly approves all agenda gadgets

DGAP-Information: hGears AG

/ Key phrase(s): AGM/EGM

hGears AG: Annual Normal Assembly approves all agenda gadgets

23.06.2022 / 13:27
The issuer is solely chargeable for the content material of this announcement.

hGears AG Group: Annual Normal Assembly approves all agenda gadgets

HIGHLIGHTS OF THE ANUAL GENERAL MEETING 2022

– hGears efficiently held its first Annual Normal Assembly following its IPO

– 75.6 % of the share capital had been represented on the assembly

– All proposed resolutions accepted

– CEO Pierluca Sartorello appears to be like again on monetary 12 months that was profitable amid difficult situations

Schramberg, 23 June 2022 – On the Annual Normal Assembly in Frankfurt am Primary on 22 June 2022, the shareholders of hGears AG accepted all gadgets on the agenda. The occasion was held in a digital format given the heightened ranges of uncertainty as as to whether and the way an in-person occasion may very well be held towards the backdrop of the COVID-19 pandemic. 75.6 % of the share capital had been represented on the Annual Normal Assembly. This determine additionally consists of postal votes. The proposals for resolutions put to the vote had been adopted by the shareholders. Moreover, the Annual Normal Assembly accepted the actions of the Administration Board and the Supervisory Board with 99,993 % and 95,557 % of the votes respectively and accepted the compensation report.

In fiscal 2021, hGears efficiently navigated the corona pandemic, an IPO, and a refinancing, whereas the battle in Ukraine and report ranges of inflation symbolize new hurdles in 2022. Regardless of these challenges, the corporate has managed to develop revenues throughout the completely different enterprise areas e-Mobility, e-Instruments and Typical. The nice industrial efficiency continued into 2022 and primarily based on the increasing buyer base and stable order ebook, the administration is reconfirming the full-year 2022 steering with confidence (excessive single-digit income development, adjusted EBITDA on the earlier 12 months’s degree), whereas reiterating the mid-term goal of EUR 250 million for Group income, EUR 150 million of that are accounted for by e-Mobility.

For an in depth abstract of the person voting outcomes and a transcript of CEO Pierluca Sartorello’s speech, please consult with the heading “Annual Normal Assembly” within the Investor Relations part on our web site (www.hgears.com).

 

Contact

hGears AG
Christian Weiz
Brambach 38
78713 Schramberg

T: +49 (7422) 566 222
E: christian.weiz@hgears.com

About hGears

hGears is a worldwide producer of mission-critical high-precision gears and elements with a concentrate on merchandise for e-mobility purposes. The Firm’s strategic focus is on the e-Mobility enterprise space, the place merchandise embody gears, shafts, and different mission-critical elements for use in electrical drive purposes for e-bikes and electrical and hybrid automobiles. Within the e-bikes section, hGears is the European market chief within the provide of high-precision gears and elements, and its elements are contained in roughly two and a half million of the whole 5 million e-bikes offered in Europe in 2021. This places the Firm in a great place to capitalize on the dynamically rising end-markets for e-bikes and electrical and hybrid automobiles. hGears has three distinct enterprise areas for which it develops and manufactures high-precision elements: e-Mobility, e-Instruments, and Typical (i.e. premium and luxurious vehicles, bikes and industrial purposes).

hGears combines over 60 years of expertise in superior machined metal steel processing and state-of-the-art powder steel manufacturing. It is among the few firms providing prospects each processes worldwide. hGears works along with its prospects in a “co-development” position to design elements and discover technologically optimum options to fulfill the shopper’s specs. hGears’ blue-chip buyer base consists of plenty of main suppliers in addition to unique tools producers. The Firm advantages from longstanding, steady and sustainable relationships with its prospects and has labored with many key prospects for over 15 years.

hGears is headquartered in Schramberg, Germany, and operates globally with manufacturing services in Schramberg, Germany, Padua, Italy, and Suzhou, China. Discover us on the internet: www.hgears.com

23.06.2022 Dissemination of a Company Information, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely chargeable for the content material of this announcement.

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