During the business year 2009/10, the Supervisory Board fulfilled its responsibilities under the law and the Articles of Incorporation, holding six plenary sessions, two meetings of the Audit Committee, and three meetings of the General Committee. The Management Board provided information both orally and in written form regarding the state of business and the situation of the Company.
The annual financial statements and the Group‘s consolidated financial statements as of March 31, 2010, were audited by Grant Thornton Wirtschaftsprüfungs- und Steuerberatungs-GmbH, Vienna, which was engaged as mandated by § 270 of the Austrian Commercial Code (Unternehmensgesetzbuch—UGB).
The audit showed that the accounting practices, the annual financial statements and the Group’s consolidated financial statements conform to the statutory regulations and the provisions of the Articles of Incorporation. The audit also concluded that the provisions of § 269 of the Austrian Commercial Code were fully met so that the auditor issued an unqualified audit opinion.
There was no cause for any objections. The annual financial statements were reviewed by the Audit Committee of the Supervisory Board in its meeting on May 31, 2010, and was forwarded to the Supervisory Board with the recommendation that it be approved. The Supervisory Board reviewed and approved the annual financial statements and the Group’s consolidated financial statements, as well as the Management Report, the Corporate Governance Report, and the recommendation for the appropriation of earnings. The annual financial statements are herewith deemed adopted pursuant to § 125 of the Austrian Stock Corporation Act (Aktiengesetz). The consolidated financial statements were prepared according to the International Financial Reporting Standards (IFRS). These financial statements were also audited by Grant Thornton Wirtschaftsprüfungs- und Steuerberatungs-GmbH, Vienna, and accorded an unqualified certification. The Supervisory Board took note of and approved the Group’s consolidated financial statements and the Group Management Report.
The Corporate Governance Report was also audited by Grant Thornton Wirtschaftsprüfungs- und Steuerberatungs-GmbH, Vienna, within the scope of the annual external audit, and it was determined that the report is in agree ment with the actual circumstances.
It has been established that the business year 2009/10 has ended with a net profit of EUR 85,000,000.00; it is being recommended that a dividend of EUR 0.50 per dividend-bearing share be paid to the shareholders and the remaining amount be carried forward.
The Supervisory Board
Dr. Joachim Lemppenau
(Chairman)
Linz, May 31, 2010
