Berlin, June 14, 2023 – The Annual General Meeting of Francotyp-Postalia Holding AG (ISIN DE000FPH9000) took place today in Berlin. The proportion of votes represented at the Annual General Meeting on fiscal year 2022, which was held in a physical format for the first time since 2019, was 44.3 % of the share capital. All agenda items were approved by a large majority.
Johannes Boot was elected as a new member of the Supervisory Board until the Annual General Meeting in 2025 with 90.5 % of the votes represented. This corresponds to the remaining term of office of the members elected by the Annual General Meeting in June 2021. A by-election was necessary because Lars Wittan resigned as a member of the Supervisory Board at the close of today's Annual General Meeting.
The Executive Board and Supervisory Board would like to sincerely thank Mr. Wittan for his outstanding commitment and active support over the past years and look forward to working with Mr. Boot. Mr. Boot, born in 1968, is a Dutch citizen who studied law and has extensive experience from his many years of working for financial services providers. He was also the portfolio manager of several investment funds he founded. Since 2016, he has been Chief Investment Officer of the investment management company Lotus Investment Management, representing the new major shareholder Olive Tree Invest GmbH.
Transformation program pays off
At the Annual General Meeting, the Executive Board reported on the past fiscal year, provided detailed information on the measures of the FUTURE@FP transformation program and gave an outlook on the further growth path.
"After two years of transformation we are on a profitable growth path with all three business areas contributing. During 2021 we focused on reorganizing the company and on trimming various areas of the cost base”, stated CEO Carsten Lind. “In 2022, we invested in enhancing our products and solutions in all business areas, laying the foundation for a continuous stable development in Mailing, Shipping & Office Solutions area and growth in the digital business solutions also outside Germany.”
Lind explained that growth as communicated, comes from a combination of organic and M&A projects. With the two M&A projects Azolver Group and Pakadoo, completed in 2022 FP strengthened its position in the Mailing, Shipping & Office Solutions area, while also adding new digital solutions in parcel management.
In his speech, CFO Ralf Spielberger pointed out, that continuing to implement the new ERP/CRM-system and establishing Group Services as a profit centre in 2023 will enable FP to improve back-and front-office processes on market compliant terms.
The Management Board confirmed its forecast for the current fiscal year 2023. They expect consolidated revenue of between EUR 245 million and EUR 255 million and EBITDA in a range of EUR 28 million to EUR 31 million. The ongoing transformation of the Group, investments in product development and the integration of the acquired operating companies of the Azolver Group and Pakadoo are reflected in a further increase in the EBITDA margin in the future.
Following the speech by the Management Board, the Management Board and Supervisory Board provided detailed answers to all questions from shareholders and shareholder associations. Among other things, shareholders highlighted FP's consistent strategy and promising prospects. In the subsequent vote, the actions of the Management Board and Supervisory Board were approved by a large majority.
Information on the Annual General Meeting, including the complete voting results, is available at https://www.fp-francotyp.com/hv2023_de (German only).