In general, Volvo is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting.
Under ITEMS 14.1-14.10, the (re-)election of the board of directors is proposed.In light of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE to the (re-)election of: Ms. Martina Merz (ITEM 14.7).
Under ITEM 18, the board of directors seeks approval of the Company's executive remuneration guidelines. Although no (material) changes are proposed, ECGS is missing an actual LT component (with a performance measurement period of at least 3 years) under the guidelines. ECGS therefore recommends to vote OPPOSE.
ITEM 19 is a proposal made by a shareholder. ECGS does not support the proposal and accordingly recommends to vote OPPOSE.Finally, ECGS notes that Volvo announced in October 2018 that it had detected that an emissions control component used in certain markets is degrading more quickly than expected, which could cause the engines to exceed emissions limits for nitrogen oxides (NOX). The degradation is due to a materials issue that occurs over time. In connection with the detection the Company made a provision of SEK 7 billion relating to the estimated costs to address the issue.
Volvo is a manufacturer of trucks, buses, construction equipment and marine and industrial engines. Co.'s activities are organized into six areas: Group Trucks, which sells and markets trucks under Eicher, Mack, Renault Trucks, UD Trucks and Volvo brands; Construction Equipment, which includes equipment for construction and related industries; Buses, which includes buses and bus chassis for city, intercity and coach traffic; Volvo Penta, which manufactures engines and drive systems for boats and commercial craft; Governmental Sales, which manufactures special-purpose vehicles; and Volvo Financial Services, providing customer financing and leasing, dealer financing and fee based products.
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A director at Ab Volvo bought 6,000,000 shares at 137.000SEK and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board...
VOLVO AB (SE), a company active in the Commercial Vehicles & Trucks industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date May 3, 2019, the closing price was SEK 148.90 and its expected value was estimated at SEK 14...
Reaching close to a 12% EBIT adj. quarterly margin, as Volvo did in Q1, was something that looked unreachable a couple of years ago. A strong management team, clear focus, and help from a strong market and FX provided the drivers. Although we still expect declining volumes in 2020, we now see double-digit EBIT margins in the sector downturn. As a result, we have raised our 2019e adj. EBIT by 13%, and our target price to SEK172 (160), and reiterate our BUY recommendation.
La société fait preuve d'une grande transparence concernant les montants attribués aux mandataires sociaux. En revanche, elle l'est beaucoup moins concernant les critères de performances des parts variables de la rémunération, qui restent inconnus. Par ailleurs, l'indépendance du Conseil d'administration est particulièrement préoccupante puisqu'il n'est composé que d'un administrateur indépendant sur six. Pour cette raison la résolution 11 portant sur le renouvellement de Marie Meynadier (membre non indépendante) n'est pas soutenue.
Nous tenons à attirer l'attention des actionnaires sur les manquements suivants : La Société n'est pas suffisamment transparente sur la rémunération. En effet, la rémunération totale que Proxinvest considère est de 594 000 €, alors que la rémunération totale selon la société est de 24 000 €. Les informations relatives aux membres du Conseil restent trop sommaires. La société pourrait davantage présenter les membres de son Conseil, notamment en faisant apparaitre les biographies, ce qui permettrait d'avoir une meilleure lisibilité. De manière générale, la Société n'est pas assez transparente...
La société a vécu une année difficile en termes de rentabilité, avec une perte nette de 3,3 M€ sur un chiffre d’affaires consolidé de 12.5 M€. Néanmoins, après l’augmentation de capital de 37 M€ réalisée en 2018, la société présente une situation financière solide, avec 35 M€ de trésorerie nette destinée à la croissance. La société propose à ses actionnaires de renouveler l'ensemble de ses délégations financières. Proxinvest n'en soutient quasiment aucune car elles portent toutes sur des montants très élevés et sont toutes utilisables en période d'offre publique. La société a proposé égaleme...
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