Page 46 - Annual Report 2019

Supervisory Board Report
Group Management Report
Consolidated Financial Statements
Annexes

(35) Members of the Management Board

Klaus Steger
Chairman of the Management Board, Chief Executive Officer
Nuremberg
Robert Seibold
Chief Financial Officer
Abenberg

(36) Corporate group
HOFTEX GROUP AG, Hof, is a small corporation as defined in Section 267 HGB, the parent company
of the Group and also a subsidiary of ERWO Holding AG, Schwaig. The two companies both prepare
consolidated financial statements as the parent company of their respective groups that include each
of their subsidiaries; they did not avail themselves of the exemption provisions of Section 291 HGB.
In the notes to the annual financial statements, HOFTEX GROUP AG reports that it is included
in the consolidated financial statements of ERWO Holding AG. Further, the Company confirms
that ERWO Holding AG prepares the consolidated financial statements for the largest group of
companies (Section 285 no. 14 HGB) and that HOFTEX GROUP AG prepares the consolidated financial
statements for the smallest group of companies (Section 285 no. 14a HGB). Both consolidated
financial statements are available in the Electronic Federal Gazette.

(37) Group parent company’s proposal for the appropriation of net income

With the consent of the Supervisory Board, a proposal will be made to the Annual General Meeting
to allocate the net retained profits of HOFTEX GROUP AG as follows:

Distribution of a dividend of EUR 0.15 per share
on the subscribed capital of EUR 13,919,988.69 (= 5,444,800 no-par value shares) EUR 816,720.00
Allocation to the revenue reserves pursuant to Section 58(3) AktG EUR 1,000,000.00
Carry forward to new account EUR 861,521.21
Net retained profits EUR 2,678,241.21

Hof, 30 April 2020

HOFTEX GROUP AG

The Management Board

Steger Seibold

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