Consolidated Annual Report 2012 and Single-Entity ... - PVA TePla AG

24 PVA TePla AG Annual Report 2012
PVA TePla on
Capital Markets
FOR THE FISCAL YEAR 2012
DEVELOPMENT OF PVA TEPLA SHARES
PVA TePla’s share price declined considerably in 2012. After
reaching its annual high for the year at EUR 3.83 in the first
quarter of 2012, the share price declined thereafter, falling
to its annual low of EUR 1.91 at the beginning of December
2012 (Xetra closing price). Overall gloomy prospects for the
economy and a sharp decline in incoming orders – due to
limited willingness by customers to invest in markets partially
plagued by overcapacity, particularly in industries that
are important for PVA TePla such as semiconductors and
photovoltaics – led to this weak price. The market capitalization
at the end of 2012 is therefore considerably below
the total equity of the Company. However, at the start of
2013, the PVA TePla share posted gains again, rising on January
11, 2013 to EUR 2.38.
COMMUNICATION WITH THE
CAPITAL MARkET
High transparency regarding our business activities in the
capital market is important to us. This is why conference
calls at the time of publication of our quarterly reports form
an integral part of communications. We held an analysts’
conference in Frankfurt after the publication of our Annual
Report, maintained contact with analysts from banks, and
participated in a number of conferences and roadshows
in Paris, London, Frankfurt and Munich to establish direct
contact with institutional investors. One focus in 2012 was
discussions with representatives of family offices. In addition,
investors had the opportunity to talk to our Manage-
ment Board members and gather comprehensive information
on our Company’s prospects during field trips. The
primary topics discussed with investors were trends in the
photovoltaic market, which is plagued by overcapacity, and,
in this context, the future perspectives of various technologies
in this sector. In addition, other points of interest
included incoming order trends across different product
groups, management’s assessment of the progress of the
business and the opportunities resulting from new materials
developments.
The Company presentations regarding these topics
can be downloaded on the Company website at
www.pvatepla.com under Investor Relations.
ANNUAL GENERAL MEETING
The Annual General Meeting of PVA TePla was held on
June 13, 2012 at the Congress Hall in Giessen. The agenda
items were approved by a large majority of the 47% share
of shareholders who were present.
DIVIDENDS
The Management Board and Supervisory Board of PVA
TePla proposed to the Annual General Meeting 2012 a dividend
of EUR 0.15 (2011: EUR 0.15) per share on account
of the earnings situation in the previous fiscal year. This
corresponds to a dividend yield of 7.2% calculated using
2012’s closing share price.