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Cavotec SA (CAVEF)

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2.15000.0000 (0.00%)
At close: 10:36AM EDT
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Previous close2.1500
Open2.1500
Bid0.0000 x 0
Ask0.0000 x 0
Day's range2.1500 - 2.1500
52-week range2.0100 - 2.1500
Volume262
Avg. volume0
Market cap211.026M
Beta (5Y monthly)1.15
PE ratio (TTM)N/A
EPS (TTM)-0.0590
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • Cavotec wins EUR 5M in additional cleantech orders to equip world’s largest container ships with ShorePower systems
    GlobeNewswire

    Cavotec wins EUR 5M in additional cleantech orders to equip world’s largest container ships with ShorePower systems

    Cavotec has won a series of orders in the second quarter with a total value of EUR 5M – to equip the world’s largest new-build container ships with ShorePower systems. This is in addition to EUR 3M in orders already secured in the first quarter. The powerful cleantech technologies enables dramatic pollution reductions and are the latest example of how Cavotec is enabling the modernization and decarbonization of the global ports and shipping sector. “We’re proud to support the world’s major conta

  • Report from Cavotec SA Annual General Meeting 2021
    GlobeNewswire

    Report from Cavotec SA Annual General Meeting 2021

    Cavotec SA ("the Company") today, May 27, 2021 held its Annual General Meeting ("AGM") in Lugano, Switzerland. Appointment of the Chairman of the day The AGM appointed Massimo Vanotti as Chairman of the day. Annual Report, Financial Statements and Consolidated Financial Statements for the year 2020, Report of the Statutory Auditors The AGM adopted the Board of Directors' proposal that the annual report, the financial statements and the consolidated financial statement for the year 2020 be approved. Appropriation of Available Earnings The AGM adopted the Board of Directors' proposal for the following appropriation: CHFCarried forward from previous year (42,898,901)Net gain/ (loss) for the financial year 2020 (1,243,820)Total earnings available (44,142,720) Appropriation to general statutory reserves -Appropriation to other reserves -Proposed balance to be carried forward (44,142,720) Grant of Discharge from Liability to the Board of Directors and Persons entrusted with the Management from Activities during Business Year 2020 The AGM granted discharge to all members of the Board of Directors as well as the other persons entrusted with the management for the business year 2020. Cancellation of provisions concerning expired contingent share capital The AGM adopted the Board of Directors' proposal to cancel the articles 4ter, 4quinquies, 4sexies, 4septies and 4octies of the Articles of Association concerning expired contingent share capital. Creation of additional contingent share capital in connection with employee participation The AGM adopted the Board of Directors' proposal to create additional contingent share capital in an amount not to exceed CHF 1'206'310.40 enabling the issuance of up to 942'430 additional shares with a nominal value of CHF 1.28 each in connection with employee participation (Long Term Incentive Plan 2021-2023) by inserting the new article 4quinquies of the Articles of Association with the following wording: "The share capital may be increased in an amount not to exceed CHF 1'206'310.40 through the issuance of up to 942'430 fully paid registered shares with a par value of CHF 1.28 per share by the issuance of new shares to employees of the Company and group companies. The pre-emptive rights and advance subscriptions rights of the shareholders of the Company shall thereby be excluded. The shares or rights to subscribe for shares shall be issued to employees pursuant to the Long Term Incentive Plan 2021-2023 approved by the Board of Directors. Shares or subscription rights may be issued to employees at a 10% discount compared with the market price quoted on the stock exchange at that time." Renewal of Authorized Share Capital The AGM adopted the Board of Directors' proposal to extend the duration of the existing authorized share capital by another year to May 27, 2023, and to reduce the existing authorized share capital from 20% to 10% of the total current share capital, i.e. authorizing the Board of Directors to increase the share capital in an amount not to exceed CHF 12’063’129.60 through the issuance of up to 9’424’320 fully paid registered shares with a par value of CHF 1.28 per share, by amending article 4ter of the Articles of Association with the following wording "The Board of Directors shall be authorized to increase the share capital in an amount not to exceed CHF 12’063’129.60 through the issuance of up to 9’424’320 fully paid registered shares with a par value of CHF 1.28 per share by not later than May 27, 2023. Increases in partial amounts shall be permitted." Amendment of the Remuneration Period of the Board of Directors The AGM adopted the Board of Directors' proposal to amend the current remuneration approval system of the Board of Directors, in order to have the remuneration period of the Board of Directors approved until the next ordinary General Meeting, by amending article 16b of the Articles of Association with the following wording: "The general meeting of shareholders shall annually approve the maximum aggregate amount each of: the remuneration for the board of directors for the period lasting until the next ordinary general meeting of shareholders; the remuneration for the CEO for the next business year. The aggregate amount shall cover the fixed remuneration, the STIP and the LTIP payable during the next relevant period." Approval of Remuneration The AGM approved the maximum aggregate amount (covering fixed and variable remuneration) each of: the remuneration for the Board of Directors for the period lasting until the next ordinary general meeting of shareholders; the remuneration for the CEO for the next business year. 9.1. Approval of Remuneration for the Board of DirectorsThe AGM approved the aggregate amount of EUR 500,000 for the remuneration for the Board of Directors for the period lasting until the next ordinary general meeting of shareholders. 9.2. Approval of Remuneration for the CEOThe AGM approved the aggregate amount of EUR 2,900,000 for the remuneration for the CEO for the business year 2022. Re-election of five Directors, election of one new Director, nomination of the Chairman of the Board of Directors In accordance with the Nomination Committee's proposal Patrik Tigerschiöld, Fabio Cannavale, Niklas Edling, Annette Kumlien and Erik Lautmann were re-elected as Directors for a further one-year term of office expiring at the Annual General Meeting to be held in 2022. Keith Svendsen was elected as Directors for a one-year term of office expiring at the Annual General Meeting to be held in 2022 Patrik Tigerschiöld was re-elected as Chairman of the Board of Directors for a further one-year term of office expiring at the Annual General Meeting to be held in 2022. Nominations for the Remuneration Committee In accordance with the Nomination Committee's proposal Erik Lautmann, Patrik Tigerschiöld and Fabio Cannavale were re-elected as members of the Remuneration Committee for a further one-year term of office expiring at the Annual General Meeting to be held in 2022. With respect to the requirements in the Swedish Corporate Governance Code that all members of the Remuneration Committee, apart from the chairman of the Remuneration Committee, are to be independent of the Company and its executive management, the Nomination Committee has come to the conclusion that all candidates proposed by the Board of Directors are independent of the Company and its executive management. Re-election of Independent Auditor In accordance with the Nomination Committee's proposal, PricewaterhouseCoopers SA, Lugano, Switzerland was re-elected as Cavotec's independent auditor for the business year 2021. Election of an Independent Proxy In accordance with the Board of Directors' proposal, Mr. Franco Brusa, Attorney-at-law, Via G.B. Pioda 5, Lugano, Switzerland was re-elected as Cavotec's Independent Proxy for a further one-year term of office expiring at the Annual General Meeting to be held in 2022. Adoption of the Nomination Committee Charter The AGM adopted the Board of Directors' proposal to adopt and apply the Nomination Committee Charter until a general meeting resolves otherwise. ENDS Message to the shareholders Personal attendance at the AGM May 27, 2021 was not allowed due to imposed restrictions in connection with the coronavirus. This meant that the Group CEO, Mikael Norin was not able to address shareholders in person. Cavotec has instead recorded a message to the shareholders, which is available at https://cavotecsa.gcs-web.com. For further details please contact: Johan HähnelInvestor Relations ManagerTelephone: +46 70 605 63 34 - Email: investor@cavotec.com About CavotecCavotec is a leading cleantech company that designs and delivers connection and electrification solutions to enable the decarbonization of ports and industrial applications. Backed by more than 40 years of experience, our systems ensure safe, efficient and sustainable operations for a wide variety of customers and applications worldwide. Learn more at cavotec.com. This information was submitted for publication, through the agency of the contact person set out above, at 16:30 CEST on 27 May 2021. Attachment Cavotec Press Release AGM 2021

  • Cavotec to accelerate focus on cleantech - will invest 20 million euro to solidify leading position in expected multibillion euro market
    GlobeNewswire

    Cavotec to accelerate focus on cleantech - will invest 20 million euro to solidify leading position in expected multibillion euro market

    The fast-growing market for electrification and automation of ports around the world is estimated to be worth several billion euros in the coming years. Cavotec will invest 20 million euro in technology, engineering and business development over the next five years to strengthen its leading position and to meet the expected demand. The global Cavotec team will grow by an estimated 320 people, an increase of 60%, with two thirds being engineers. “We’re now at an inflection point where our core markets are undergoing a drastic change where what has been niche markets for cleantech are becoming mass markets. In Europe alone, more than 2500 ports will have to drastically reduce emissions by offering Shore Power, a Cavotec specialty, to visiting ships in the next 5 – 10 years. Our automated mooring technology has an equally untapped potential with an estimated 4700 port berths world-wide suitable for automation to increase efficiency and reduce pollution. We will invest in sales, marketing, engineering and technology to fully leverage on this development and our leading market position.” says Mikael Norin, CEO of Cavotec. A European Union directive encourages ports to adopt shore-to-ship electrification systems (Shore Power) to reduce emissions from vessels when in port. By 2025, this recommendation will become binding for all European ports. In the American Jobs Act President Biden is planning to spend 17 billion USD on the US shipping infrastructure with a special mention of the need to mitigate the impact of pollution from ports. Cavotec is a market leader in today’s niche markets for cleantech for ports and industrial applications. Cavotec has equipped some 600 of the world’s container ships as well as hundreds of ports around the world with its Shore Power systems. Most recently, Cavotec has developed an automated e-charging and mooring system for the world’s first zero-emission, autonomous battery powered fleet. Also, building on the company’s 40-year experience of electrification of mining equipment, Cavotec is active in CharIN, (Charging Interface Initiative), a network of companies developing global standards for charging battery powered vehicles, focusing on high power, high speed charging for commercial and industrial vehicles. “Every day – in thousands of ports around the world – mega cargo ships moor, and then idle for hours – adding tons of pollution. And the mooring itself is a dangerous job, where employees face tremendous risks on a daily basis. Equally, the majority of the world’s mobile industrial equipment is powered by polluting diesel engines. Our mission is to change this. We will accelerate our focus on developing connection and electrification solutions to enable the decarbonization of ports and industrial applications. Just like some brands are leading the successful electrification of the automotive industry, we will lead the electrification of our markets. We are determined to contribute to a future world that is cleaner, safer and more efficient”, Norin concludes. The company has released a short video that summarizes the strategy that can be found at Cavotec.com under the Investor section. Conference call in connection with publication of the press releaseCavotec will hold a conference call today 12 May at 10:00 CEST to answer questions with regards to today´s announcement. Mikael Norin, CEO, and Glenn Withers, CFO will participate in the call. Conference call Dial-in numbers:SE: +46856642704UK: +443333009271US: +18338230587 Weblink:https://tv.streamfabriken.com/cavotec-q1-2021 ENDS For further details please contact: Johan HähnelInvestor Relations ManagerTelephone: +46 70 605 63 34. Email: investor@cavotec.com This is information that Cavotec SA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07:01 CEST on 12 May 2021. About Cavotec Cavotec is a leading cleantech company that designs and delivers connection and electrification solutions to enable the decarbonization of ports and industrial applications. Backed by more than 40 years of experience, our systems ensure safe, efficient and sustainable operations for a wide variety of customers and applications worldwide. Learn more at cavotec.com. Attachment Press Release 12 May 2021