Report from the AGM of Alfa Laval AB
LUND, Sweden -- April 23, 2013
The Annual General Meeting of Alfa Laval AB (STO:ALFA) was held at Färs &
Frosta Sparbank Arena in Lund, Sweden, on Tuesday, April 23rd. Approximately
450 shareholders, proxies, guests and officials attended the meeting under the
chairmanship of Anders Narvinger.
This is an unofficial translation of the Swedish notice. In case of any
discrepancies between the Swedish notice and this English translation, the
Swedish notice shall prevail.
At the meeting, Lars Renström, President and CEO, concluded on the development
last year, when Alfa Laval, despite the prevailing uncertainty in the global
economy, reached record levels for both orders and sales. Order intake rose 6
percent compared to 2011, reaching SEK 30.3 billion and revenues increased 4
percent, to SEK 29.8 billion. He talked about the new organization, with three
selling divisions and concluded on their achievements during the year.
Furthermore he emphasized the importance of the investments made into research
& development, the aftermarket business, increased presence in the BRIC
countries and acquisitions. He also presented the newly adopted environmental
targets, comprising goals for increased energy efficiency, reduced water
consumption and reduced greenhouse gas emissions from transportation.
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
3:50 per share was approved. Furthermore, the Board’s proposal for
authorization to, at one or more occasions prior to the next Annual General
Meeting, buy back up to five percent of the outstanding shares in the Company,
was adopted. 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 and Lars Renström were re-elected.
Anders Narvinger was appointed Chairman of the Board. The Nomination
Committee’s proposal regarding the election of a new board member, Ulf
Wiinberg – President and CEO of H. Lundbeck A/S, was approved. The Nomination
Committee’s proposal regarding auditors was also adopted. Authorized public
accountants Staffan Landén and Håkan Olsson Reising were elected as ordinary
auditors for the coming year. The public accountants Johan Thuresson and
Karoline Tedevall were elected deputy auditors.
The AGM decided to adopt the remuneration to the Board of Directors for 2013
in line with the Nomination Committee’s proposal. Remuneration should be SEK
4,395,000, an increase from SEK 3,850,000 in 2012. 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
Complete proposals can be found on www.alfalaval.com.
Lund, April 23, 2013 Alfa Laval AB (publ.)
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