Page 7 - Annual Report 2019

Supervisory Board Report
Group Management Report
Consolidated Financial Statements
Annexes

With its nine members, the Supervisory Board advises the Management Board and oversees its
management activities. The Supervisory Board must be consulted in all decisions material to the
Company, including evaluating the single-entity and consolidated annual financial statements. During
the Annual General Meeting, the Chairman of the Supervisory Board presents the Management
Board’s written report.

The Management Board comprises two members, while the divisions in the individual subsidiaries
are run by their respective managing directors. The managing directors receive support from a
management team that includes staff for sales, production/engineering and finance.

As of 31 December 2019 the Hoftex Group comprised 14 domestic (prior year: 15) and 5 foreign (prior
year: 3) subsidiaries. The following chart presents an overview of the divisions and their locations:

HOFTEX
2019
Locations Hof (DE)
Selbitz (DE)
Sales *) in EUR million 20.5
Unit sales *) million kg 2.4

Employees Ø 2019 95
*) incl. Drebach Hoftex CoreTech location through 8/19

TENOWO
2019
Locations Hof (DE)
Reichenbach (DE)
Mittweida (DE)
Lincolnton (USA) NEUTEX
Huzhou (CN) 2019
Milan (IT) Locations Münchberg (DE)
San Luis de Potosi (MX) Targu Mures (RO)
Sales in EUR million 134.9 Sales in EUR million 13.4

Unit sales million m 2 272.3 Unit sales million m 2 3.5
Employees Ø 2019 751 Employees Ø 2019 243

Fig. 1: Group Overview

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