Board/Management Information • Feb 27, 2007
Board/Management Information
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Corporate | 27 February 2007 15:17
ARQUES Industries AG: Change in executive board at ARQUES Industries
ARQUES Industries AG / Change of Personnel
Release of a Corporate-announcement, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.
Change in executive board at ARQUES Industries
Starnberg, February 27, 2007 – The current chief financial officer of the
Starnberg-based equity investment company, ARQUES Industries AG (ISIN
DE0005156004), Dr. Martin Vorderwülbecke, will succeed Dr. Peter Löw as
executive board chairman on May 1, 2007. The appointment by the supervisory
board is planned for the supervisory board meeting on March 29, 2007. Dr.
Löw will not extend his expiring five year contract and will withdraw into
private life. The continuity in the company strategy and management is
ensured by Dr. Vorderwülbecke taking over the position. Dr. Vorderwülbecke
has been a member of the ARQUES executive board since July 1, 2004 and
previously a member of the company’s supervisory board.
Continuation of the ARQUES success story
Under the ARQUES management, group revenues increased since 2003 from under
EUR 30 million to an estimated EUR 780 million in 2006. In this period
operational earnings (EBITDA) jumped from approximately EUR 1 million to
forecasted EUR 120 million in the previous financial year. Due to promising
acquisitions, the company succeeded in increasing annualised revenues to
more than EUR 1 billion and to realise high profits through the initial
public offer of SKW Stahl-Metallurgie Holding AG as well as the trade sale
of the baby carriage manufacturer, teutonia. The company’s success story
shall continue unchanged in the future. The acquisition pipeline for 2007
is well filled and promising transactions emerge on the exit side as well.
ARQUES leaves the guidance for 2006 unchanged and confirms its prognoses
for 2007.
'The supervisory board regrets Dr. Löw leaving the company for private
reasons, however, respects his decision. We thank Dr. Löw for his
inimitable commitment to ARQUES Industries. The increase in the company
value to more than EUR 400 million can, to a large degree, be credited to
Dr. Löw. I am very pleased that we have the ideal successor in Dr.
Vorderwülbecke, who will continue the ARQUES success story', Professor Dr.
Michael Judis, supervisory board chairman of ARQUES Industries AG, said.
Free float increases to 100%
With his withdrawal into private life, Dr. Löw has sold the bulk of his
14.14% share in ARQUES. The sale amounting to a total of 3 million shares
(i.e. 12.36%) took place on February 23, 2007 at an price of EUR 17.64.
Hereby the free float of the company increases to 100% since shares under
5% are not taken into consideration in the calculation. The shares were
sold over the counter via an investment bank within a very short time to
institutional investors in Germany and in Anglo-Saxon areas.
The increase in the free float is a further important step in connection
with the desired admission to the MDAX. On January 31, 2007, based on the
previous free float of 85,3%, ARQUES already ranked 75th in the German
Stock Exchange ranking list for the MDAX relating to market capitalisation,
and 63rd based on trading volume. Companies which comply with the so-called
60/60 rule, i.e. ranked 60th in both criteria, are considered for the MDAX.
Executive board chairman, Dr. Peter Löw, is confident regarding the future:
'2006 was an outstanding year for ARQUES. Not only did we reach a new
record revenues and earnings, but also confirmed our profitable growth
concept through the initial public offer of the subsidiary, SKW
Metallurgie. For 2007 and beyond, we have set ourselves substantially more
ambitious goals. I am convinced that my colleague, Dr. Vorderwülbecke,
together with the team of currently approximately 80 acquisitions and
restructuring specialists, is the ideal person to realise these goals. I
will naturally remain closely connected to the company.'
About ARQUES
ARQUES Industries AG, Starnberg, (www.arques.de) is a turnaround specialist
who focuses on the acquisition and the active restructuring of companies in
transitional situations, in order to develop these, with its own team and
own resources, to competitive enterprises with a positive yield. ARQUES
revitalises its subsidiaries' potential for creating value for the benefit
of all its stakeholders, taking on the relevant social responsibility.
ARQUES has made a duty of identifying underestimated companies with reduced
survivability but with high appreciation potential, at the same time
mastering complex company structures and transitional situations. The
shares of ARQUES Industries AG are traded in the regulated market (Prime
Standard) of the Frankfurt Stock Exchange under the symbol 'AQU' (ISIN:
DE0005156004)
and are listed in the SDAX since September 19, 2005.
Contact:
ARQUES Industries AG
Investor Relations & Corporate Communication
Anke Lüdemann, CEFA/CIIA
Tel.: +49 (0) 8151/ 651 0
Email: [email protected]
Language: English
Issuer: ARQUES Industries AG
Münchner Str. 15a
82319 Starnberg Deutschland
Phone: +49 (0)8151 651-0
Fax: +49 (0)8151 651- 500
E-mail: [email protected]
WWW: www.arques.de
ISIN: DE0005156004
WKN: 515600
Indices: SDAX
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin-Bremen, Hamburg, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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