Important information regarding the Annual General Meeting 2020 / Vigtig information ifm. generalforsamling 2020

Postponement of FLSmidth’s Annual General Meeting
As the Danish Government has announced new safety guidelines and a ban of public gatherings larger than 10 people, it has been decided to postpone the Annual General Meeting that was originally scheduled to be held on 25 March 2020. The Annual General Meeting will be rescheduled to a later date, which will be announced separately.

Udsættelse af FLSmidths generalforsamling
Grundet COVID-19 pandemien har den danske regering annonceret nye sikkerhedsregler, der forbyder offentlige forsamlinger på mere end 10 personer. Som følge heraf har FLSmidths bestyrelse besluttet at udsætte generalforsamlingen, der oprindeligt skulle afholdes den 25. marts 2020. Generalforsamlingen vil blive afholdt på en senere dato, der vil blive meldt ud separat.

Change of proposed dividend
Given the global uncertainty caused by the COVID-19 pandemic, the Board of Directors of FLSmidth & Co. A/S has decided to withdraw the proposal to pay a dividend of DKK 8 per share to ensure resilience in a period of market uncertainty and to further strengthen FLSmidth’s financial position. Once market conditions have stabilised, the Board will revisit the capital structure and allocation to shareholders.

Ændring til foreslået udbytte
Som følge af den globale usikkerhed forårsaget af COVID-19 pandemien har bestyrelsen i FLSmidth & Co. A/S i dag besluttet at tilbagekalde forslaget om at betale et udbytte på 8 kroner per aktie. Dette er gjort for at sikre robusthed i en periode med usikkerhed på markedet og for at sikre en god likviditet og yderligere styrke FLSmidths finansielle position. Når markedet har stabiliseret sig, vil bestyrelsen genoverveje kapitalstrukturen og allokering til aktionærerne.

Guidance for the year suspended
As a consequence of the global uncertainty caused by the COVID-19 pandemic, we suspend our financial guidance for 2020 pending further clarification of market developments and the actual financial impact on our business. The underlying mining and cement industries remain sound, but given the day-to-day development in markets around the world, we are currently unable to assess the extent of the impact.

The activity level for the Group at the beginning of 2020 was similar to 2019, and in addition we have booked three large Mining orders with a combined value of around DKK 2.4bn. We are now increasingly seeing disruptions to customers and own operations, and we see higher costs related to, amongst others, more complex logistics and a weaker fixed cost absorption. We continue the implementation of our business improvement initiatives launched last year and have taken further actions to manage the cost base, including hiring freeze, reduced capex spend and postponement of salary adjustments etc.

We continue to monitor the development of COVID-19 and to take mitigating actions. Around half of our employees are currently working remotely, and our primary focus remains on the well-being of our employees and ensuring the safety of our customers while we adapt to the changing situation and service our customers in the best way possible.

Leveraging remote monitoring and other digital competences in addition to a more localised business set-up, our top priority is on partnering with our customers to navigate these challenging times, and this commitment will continue through their return to normal operations once restrictions are lifted.

Forventninger til året suspenderet
Som følge af den globale usikkerhed forårsaget af COVID-19 pandemien suspenderer vi de finansielle forventninger til 2020 og afventer yderligere afklaring i forhold til markedsudvikling og den egentlige finansielle indvirkning på forretningen. De underliggende cement- og mineindustrier er intakte, men grundet dag-til-dag-udviklingen i markeder verden over har vi på nuværende tidspunkt ikke mulighed for at vurdere omfanget af indvirkningen.

Koncernens aktivitetsniveau i begyndelsen af 2020 var på niveau med 2019, og i tillæg har vi booket tre store mineordrer til en samlet værdi på omkring 2,4 mia. kroner. Vi ser nu tiltagende forstyrrelser i kundernes og vores egen drift, og vi ser øgede omkostninger til, blandt andet, mere kompleks logistik og lavere absorbering af faste omkostninger. Vi fortsætter implementeringen af vores initiativer til at forbedre forretningen, som vi lancerede sidste år, og vi har lavet yderligere tiltag for at styre omkostningsbasen, herunder stop for nye ansættelser, reduceret capex-forbrug og udskydelse af lønreguleringer.

Vi fortsætter med at monitorere udviklingen i COVID-19 og foretage afbødende handling. Omkring halvdelen af vores medarbejdere arbejder på nuværende tidspunkt afsides, og vores primære fokus er til stadighed vores medarbejderes sundhed og vores kunders sikkerhed, samtidig med at vi tilpasser os situationen løbende og servicerer kunderne på bedst mulig vis.

Ved at gøre brug af fjernmonitorering og andre digitale kompetencer i tillæg til en mere lokal organisation er vores topprioritet at være partner for vores kunder og sammen navigere gennem disse udfordrende tider – et engagement som vil fortsætte også efter restriktionerne er løftet, og vores kunder er tilbage til normal drift.

Annual General Meeting 2019
The 2019 Annual General Meeting was held on 27 March 2019 at 16.00 (CET) at Vigerslev Allé 77, 2500 Valby, Denmark.
Annual General Meeting 2018
The 2018 Annual General Meeting was held on 5 April 2018 at 4:00 pm CET at Vigerslev Allé 77 in Valby, Denmark.
Annual General Meeting 2017

The 2017 Annual General Meeting was held on 30 March 2017 at 16.00 (CET) at Tivoli Hotel & Congress Center, Arni Magnusson Gade 2-4, 1577 Copenhagen V, Denmark.


Annual General Meeting 2016
The Annual General Meeting was held on Tuesday 5 April 2016 at 16.00 (CET) at Tivoli Hotel & Congress Center, Arni Magnusson Gade 2-4, 1577 Copenhagen V, Denmark.
Annual General Meeting 2015
The Annual General Meeting was held on Thursday 26 March 2015 at 16.00 (CET) at Tivoli Congress Center, Arni Magnusson Gade 2-4, 1577 Copenhagen V, Denmark.
Annual General Meeting 2014
The 2014 Annual General Meeting was held on 27 March 2014 at 15.00 CET at Radisson Blu Falconer Hotel & Conference Center, Falkoner Allé 9, DK-2000 Frederiksberg, Denmark.
Annual General Meeting 2013
The Annual General Meeting was held on Friday 5 April 2013 at 16.00 (CET) at Radisson Blu Falconer Hotel & Conference Center, Falkoner Allé 9, DK-2000 Frederiksberg, Denmark.
Annual General Meeting 2012
The Annual General Meeting was held at Radisson Blu Falconer Hotel & Conference Center, Falkoner Allé 9, DK-2000 Frederiksberg, Denmark.
Annual General Meeting 2011
The Annual General Meeting 2011 was held on Friday 29 April 2011 at Radisson Blu Falconer Hotel & Conference Center, Falkoner Allé 9, DK-2000 Frederiksberg, Denmark.
Annual General Meeting 2010
Documents for the annual general meeting held 16 April 2010.

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