va-Q-tec AG, DE0006636681

va-Q-tec AG, DE0006636681

23.06.2017 - 12:40:54

va-Q-tec AG: Broad-based encouragement at 2017 AGM

Press release

va-Q-tec AG: Broad-based encouragement at 2017 AGM

- First Ordinary AGM as a listed company conducted successfully on 19 June 2017

- All agenda items approved with large majorities; more than 70% of share capital represented

- CFO Christopher Hoffmann to be responsible for international business development in the future; Stefan Döhmen to join as new CFO; Dr. Roland Caps steps down from Management Board

Würzburg, 23 June 2017. va-Q-tec AG (ISIN DE0006636681 / WKN 663668), a technologically leading supplier of highly efficient products and solutions in the thermal insulation and cold chain logistics area, held its first Annual General Meeting as a listed company on 19 June 2017. Around 200 participants gathered at the Würzburg Congress Centre to be informed in detail by the Management Board about developments and trends in the 2016 financial year and the further outlook. va-Q-tec also welcomed numerous shareholders from Würzburg and the surrounding region in this context. Shareholders enjoyed the opportunity to be convinced of the performance of the va-Q-tec product portfolio, including in live demonstrations. Shareholders' great interest in the first AGM of va-Q-tec was reflected in the very high presence of voting-entitled share capital, too: more than 70% of the share capital was represented at the Ordinary AGM.

Joachim Kuhn, CEO and founder of va-Q-tec AG, expressed his satisfaction: "We were very pleased with the lively interest in va-Q-tec and would like to thank all shareholders as well as all shareholder representatives for the constructive discussions. With our products and solutions in the thermal insulation and cold chain logistics area, we are active in a very exciting future market that offers va-Q-tec immense growth potential. This is underscored not least by our very good financial performance in 2016 and the share price development over the past months."

With sales revenue growing by 58% to EUR 35.5 million in 2016 (previous year: EUR 22.5 million) and EBITDA of EUR 7.0 million (previous year: EUR 3.6 million), va-Q-tec impressively confirmed its growth track in the 2016 financial year. After the first quarter of 2017, the Management Board sees the company well positioned to also meet its growth targets for 2017. Moreover, the Management and Supervisory boards encountered broad-based encouragement for their work from the shareholders present: all agenda items were approved with 95% acceptance rates and above.

Along with 2016 operating trends and a detailed outlook of the company's further development and growth, a new allocation of responsibilities at Management Board level was also announced. Christopher Hoffmann, who has acted as CFO of va-Q-tec to date, will be responsible for international business development from 1 July 2017. This particularly includes coordinating and expanding the business in the USA, the UK and in Switzerland. Stefan Döhmen, previously finance director at Analytik Jena AG, is to assume the role of CFO. Dr. Roland Caps, co-founder and Chief Research Officer of va-Q-tec to date, is stepping down from the Management Board, and will continue to bear operational responsibility for the technological development of va-Q-tec as head of its innovation and quality department.

Dr. Gerald Hommel, Supervisory Board Chairman of va-Q-tec, commented: "Due to the personnel change within the leadership team, we see va-Q-tec as very well-positioned to continue our profitable development and growth in the coming years. Christopher Hoffmann will be able to concentrate fully on further internationalising our business activities in the future. We are thereby underscoring the ambition of va-Q-tec to achieve an internationally leading position through far-reaching expansion. With Stefan Döhmen, the company is also strengthened by an individual with capital market experience. With his many years of activity as a CFO in the high-tech area, he will also be able to make a valuable contribution to our targeted growth. Furthermore, Dr. Roland Caps will continue to head up the further development of cutting-edge technologies."

The detailed voting results of the 2017 Ordinary AGM are available for downloading from the corporate website of va-Q-tec within the Investor Relations/Annual General Meeting area.

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IR contact va-Q-tec AG Felix Rau Telephone: +49 931 35942 - 2973 Email: Felix.Rau@va-Q-tec.com

cometis AG Claudius Krause Telephone: +49 611 - 20 585 5-28 eMail: krause@cometis.deAbout va-Q-tec: va-Q-tec is a leading provider of highly efficient tech products and solutions in the field of thermal insulation and cold chain logistics. The Company develops, manufactures and sells innovative, thin vacuum insulation panels ("VIPs") and phase change materials ("PCMs") for reliable and energy efficient temperature control and insulation. Furthermore, by optimally integrating VIPs and PCMs, va-Q-tec manufactures passive thermal packaging solutions (containers and boxes), which offer constant temperature conditions between 24 and over 200 hours without using external energy sources. Within its rental services business, the company has built a global partner network to provide for an extensive fleet of containers and boxes fulfilling highly demanding thermal protection standards in temperature sensitive supply chains. Besides Healthcare & Logistics as main market, va-Q-tec addresses additional markets such as Appliances & Food, Technics & Industry, Building and Mobility. The strongly growing Company was founded in 2001, and has its headquarters in Würzburg. More information on va-Q-tec under www.va-q-tec.com.

23.06.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English

Company: va-Q-tec AG Karl-Ferdinand-Braun Str. 7 97080 Würzburg

Germany Phone: +49 (0)931 35 942 0 Fax: +49 (0)931 35 942 10 E-mail: IR@va-Q-tec.com Internet: www.va-Q-tec.com ISIN: DE0006636681 WKN: 663668 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange   End of News DGAP News Service

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