2012 General Meeting: Ströer lays foundations for future growth
At today’s ordinary General Meeting of Ströer Out-of-Home Media AG in Cologne, all resolutions proposed by the Supervisory Board and the Board of Management were adopted with approval rates of well over 90%. More than 36 million shares (or around 86.5%) of Ströer AG’s capital stock were represented at the General Meeting. As proposed by management, the accumulated profit of approximately EUR 46m was partially allocated to retained earnings and partially carried forward to new account. The members of the Board of Management and the Supervisory Board were exonerated for fiscal year 2011. Dr. Stefan Seitz was confirmed as a member of the Supervisory Board until the 2014 General Meeting. In accordance with the recommendation by the Supervisory Board, the General Meeting appointed Ernst & Young GmbH, Cologne, as the auditor of the financial statements and the consolidated financial statements for 2012. Ströer continued on its growth path in fiscal year 2011 and improved its revenue and earnings, primarily thanks to a strong performance in Germany. “In 2011, we outperformed the market in Germany as one of the structural winners in out-of-home advertising. Currently, we are in the middle of a transformation phase and implement one of the largest infrastructure projects in German out-of-home advertising history. A couple of temporary impacts such as the financial crisis and sport mega-events in Europe affect our quarterly results, but given a constant macro-situation we are optimistic that we will continue our long-term growth process. In the next year, we will see a significant better picture,” said Udo Müller, CEO of Ströer Out-of-Home Media AG.