Today, the Annual General Meeting of $EKT (+0,31%) took place as an in-person event and as it is a stone's throw away from me, I made my way into the pleasantly air-conditioned event hall in this heat and listened to the Board of Directors.
The event was marred by the poor result for 2024 and the cut in the dividend by over 50%, although this had been known for some time beforehand. The insights and outlook were interesting. The delayed sales, which led to a significantly lower result than expected for 2024, were largely realized this year. The delay was mainly due to regulatory and other approval-related circumstances. The outlook for 2025 looks much better and is back on target. The pipeline is convincing and I remain positive about $EKT (+0,31%) I remain invested and will probably increase my stake when the time is right.
Despite the small number of participants, at least I was able to make out some familiar faces from the financial scene. A nice chat with Jonathan Neuscheler from abilitato.de, who was there to my surprise, and a brief exchange with Matthias Schmitt from finanzgeschichten.com rounded off the event.
Fun fact on the side... just as the Management Board announced that Energiekontor had withdrawn from the wind project in Dakota due to the political conditions in the USA, the news ticked through the media that the subsidy cuts in the USA were milder than expected for the time being and the share price rose by up to 5% at its peak until the end of the Annual General Meeting. 😇😂
All in all, a solidly operating company with a concept that I find convincing. Unfortunately, the share still flies too much under the radar and is reduced too much to wind energy and the solar park share in various countries is ignored. For me, it remains an exciting stock apart from my dividend strategy.
