Ringmetall SE Successfully Holds Virtual Annual General Meeting in Munich

Ringmetall SE, a key player in the international packaging industry, conducted its 27th Annual General Meeting virtually in Munich on June 25, 2024. The meeting saw a high level of approval for all agenda items, with a 73.4 percent representation of the company's share capital, up from 67.3 percent the previous year.

Despite a challenging economic year, the company maintained its dividend at 10 cents per share. Group revenue dropped by 15.0 percent to EUR 181.6 million in 2023, and EBITDA decreased by 32.3 percent to EUR 19.2 million. Adjusted EBITDA, excluding sold subsidiary effects, showed a decline of 10.4 percent, reflecting a slightly better operational performance relative to revenue trends.

The agenda items covered included net profit appropriation, board discharges, auditor election, remuneration report approval, and treasury share acquisition authorization. High approval rates ranged from 93.04 percent to 99.98 percent for the various items.

Christoph Petri, Management Board Spokesman, remains cautiously optimistic, stating that if the economic environment stabilizes, the outlook for the rest of 2024 looks positive.