The Annual General Meeting of Alfa Laval AB was held at Färs & Frosta Sparbank Arena in Lund, Sweden, on Monday, April 28th. More than 400 shareholders, proxies, guests and officials attended the meeting under the chairmanship of Anders Narvinger.
This is an unofficial translation of the Swedish report. In case of any discrepancies between the Swedish report and this English translation, the Swedish version shall prevail.
At the meeting, Lars Renström, President and CEO, summarized the development in 2013, when Alfa Laval, despite continued uncertainty in the global economy, saw order intake and sales rise 4 percent to SEK 30.3 and 29.9 billion, respectively, excluding currency effects. The shipbuilding industry saw accelerating demand and areas related to oil and gas showed a continued good development. He stressed Alfa Laval’s continued focus on research and development and also talked about the marine test- and training centre, which was established in Aalborg, Denmark. Another important area mentioned was the aftermarket, where the goal is to increase the market share on the installed base of products by assuming clearer ownership and a more proactive approach. From a medium and long-term perspective, Service is expected to make a significant contribution to both profitability and growth.
Lars Renström’s entire speech can be found on:”www.alfalaval.com/investors”.
The income statements and balance sheets were adopted, together with the Board’s proposal for distribution of surplus. The proposed dividend of SEK 3:75 per share was approved. The AGM also approved discharge from liability for members of the Board of Directors and the Managing Director.
As Board members Gunilla Berg, Björn Hägglund, Ulla Litzén, Anders Narvinger, Arne Frank, Finn Rausing, Jörn Rausing, Ulf Wiinberg and Lars Renström were re-elected. Anders Narvinger was appointed Chairman of the Board. The Nomination Committee’s proposal regarding auditors was also adopted. Authorized public accountants Helene Willberg and Håkan Olsson Reising were elected as ordinary auditors for the coming year. The authorized public accountants David Olow and Duane Swanson were elected deputy auditors.
The AGM decided to adopt the remuneration to the Board of Directors for 2014 in line with the Nomination Committee’s proposal. Remuneration amounts to SEK 4,575,000, an increase from SEK 4,395,000 in 2013. Additional remuneration will be paid for work performed in the Board’s committees.
Furthermore the AGM adopted a resolution on the guidelines for compensation to senior management, including fixed compensation as well as long and short term variable compensation.
Complete proposals can be found on www.alfalaval.com.
Lund, April 28, 2014
Alfa Laval AB(publ.)
For more information please contact:
Peter TorstenssonVice President, CommunicationsAlfa LavalTel: + 46 46 36 72 31Mobile: +46 709 33 72 31
Gabriella GrotteInvestor Relations ManagerAlfa LavalTel: +46 46 36 74 82Mobile: +46 709 78 74 82