Working together towards a sustainable future
Since the company was first established, W.E.B has regarded the energy transition as a common endeavor based on the concept of community participation. W.E.B’s first wind turbines were constructed with funds supplied by a group of genuine enthusiasts. That’s how our first project companies came to be.
In 1999, the company finally became a stock corporation: WEB Windenergie AG has remained true to the principle that many people can work together to achieve great things, even if each one only contributes a small amount. The W.E.B shares are registered shares which are not listed on the stock exchange. Investors can become involved or pull out at any time, with a low threshold and flexible manner.
WEB Windenergie AG now has public shares held by more than 5,500 shareholders. Each and every stakeholder has helped to make the company what it is today: an internationally active enterprise with subsidiaries in eight countries.
24th Annual General Meeting
Full house and important decisions
The 24th Annual General Meeting of WEB Windenergie AG filled the town hall of Waidhofen an der Thaya to capacity on May 12, 2023. The shareholders adopted all the proposed resolutions and – as has become tradition at W.E.B – made use of the general debate to ask numerous questions about the report of the Management Board, the proposed resolutions, and the development of the company. Moreover, over 130 shareholders took advantage of the opportunity to follow the Annual General Meeting via live stream.
In the report of the Management Board, Frank Dumeier called to mind the expansion of plant capacity with an addition of 52.4 MW in 2022. He placed particular emphasis of the first Austrian power plant projects based on Power Purchase Agreements. The photovoltaic systems on the roofs of Schoeller-Bleckmann Oilfield Equipment AG (SBO) had already been put into operation in 2022, and the CEO talked about the recently commissioned Götzendorf wind power project that will supply electricity to OMV to produce green hydrogen.
Dumeier also shed light on their plans for the future: hybrid projects, meaning joint power plant sites for wind and photovoltaic systems with one access point to the power grid in order to optimally use the already existing power grids. W.E.B currently has power plant projects amounting to 180 MW either under construction or in a tender. The project development pipeline is over 100 projects strong, including projects in combination with battery storage units or the production of green hydrogen.
CFO Michael Trcka pointed out the successful business year 2022 with a significant increase in sales revenue thanks to the expansion of the power plant portfolio and higher electricity prices, resulting in excellent annual results. In his financial report, Trcka also explained the effects of mechanisms in EU countries to skim off excess revenue as well as the consequences of turbulent energy markets for the customer segment of W.E.B.
Trcka explained the proposed resolution for the separation of W.E.B Green Power with the development history of the customer segment, meaning the wish of shareholders to buy electricity directly from W.E.B power plants. The overall demand in the product has been soaring ever since. For reasons of risk management and profitability, the electricity sales will be managed by WEB energy sales GmbH, a 100 percent subsidiary of WEB Windenergie AG, which requires approval from the Annual General Meeting.
As the market environment has recently been in clear favor of renewable energy, W.E.B intends to exploit this opportunity for further growth. In consequence, the Management Board and Supervisory Board adjusted their dividend strategy accordingly. The distribution ratio should amount to about one third of the reported profit, while two thirds will be invested into further growth by the company.
All the proposed resolutions were adopted by the shareholders by a large majority. Brigitte Ederer was appointed to the Supervisory Board for the second time. Moreover, the proposal for the distribution of a dividend amounting to EUR 2.90 per share was accepted just as the separation of W.E.B Green Power and changes in the Articles of Incorporation.
The 24th Annual General Meeting of WEB Windenergie AG ended at 8:26 in the evening.
As a community participation company, W.E.B is particularly conscious of its obligation to ensure responsible and transparent corporate governance. Since mid-2006, WEB Windenergie AG has been committed to compliance with the Austrian Code of Corporate Governance (ÖCGK). This code has been applied with certain provisos and clarifications, which are published each year in the company’s annual report.
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Past share performance does not guarantee future developments. Share prices can fluctuate. In the absence of a regulated market or inclusion in a multilateral trading system, shareholders may find shares difficult or impossible to sell. If suitable profits are not recorded or if relevant decisions are made at a general meeting, shareholders may receive limited or no dividends. Shareholders may lose their entire investment in certain circumstances, such as the insolvency of the issuer. The sale of shares on credit carries with it increased risk. Taxation-related risks. Shareholders who own or purchase a share in the issuer exceeding 10% of the share capital do not receive a commensurate influence over the company in the form of voting rights. Changes to applicable laws, regulations or administrative practices can have adverse effects on the issuer, new shares and/or investors. This company is not subject to takeover laws, and the protective measures in such legislation do not apply to our shareholders.