Ludwig Beck AG Hosts 2024 Annual General Meeting, Decides on Dividends and Approves Remunerations

Munich, May 15, 2024 - Ludwig Beck AG, a leading retailer, convened its 2024 Annual General Meeting virtually, where 90.0% of its share capital was represented through 3.3 million votes. The meeting resulted in the approval of all agenda items except for the discharge of the Chairman of the Executive Board, Mr. Christian Greiner, whose discharge was not accepted.

Despite economic challenges, including rising energy costs and high inflation linked to the ongoing geopolitical tensions in Ukraine, Ludwig Beck reported an increase in gross sales to €86.5 million from €83.8 million in the previous year. Notably, this meeting marked the proposed distribution of a dividend of €0.15 per share, the first in five years, totaling €554k, following years impacted by various crises.

Additionally, the AGM saw several key approvals. Auditing firm Rödl & Partner GmbH was re-elected as the company's auditor for 2024 with overwhelming support, and the remuneration report for board members was approved. Other resolutions related to the Supervisory Board members and amendments to the Articles of Association were also accepted with high affirmative votes.