Duro Felguera | Cotización
6 July 2022

Duro Felguera holds its 2022 General Shareholders’ Meeting

Duro Felguera held its 2022 General Shareholders’ Meeting on Tuesday 28 June at the Luis Adaro Exhibition Centre in Gijón.

At this event of paramount importance for the company, the Annual Accounts (Balance Sheet, Profit and Loss Account, Statement of Changes in Net Equity, Cash Flow Statement and Annual Report) and the Management Report of Duro Felguera, S.A., both Individual and Consolidated with its subsidiaries, corresponding to the 2021 financial year, were approved. Likewise, the shareholders have also approved the management of the Board of Directors for the 2021 financial year, as well as the remuneration of the directors. In her speech, the Chairwoman of Duro Felguera, Rosa Aza, explained that the complexity of the international situation has increased in recent months and that the pandemic, the rise in raw material and energy prices, inflation, the war in Ukraine and diplomatic tensions with Algeria have worsened the economic outlook.

On the other hand, the group’s CEO, Jaime Argüelles, reported the progress in management that has been made in the last year: “We have a bright future that we are tackling, overcoming a difficult situation. We are on the right track. After reorganising the company and its management committee, the company is moving steadily towards regaining the confidence of our customers, suppliers, banks and financial institutions, investors and also our collaborators”, said Argüelles.

Duro Felguera, he continued, “now has a future to continue creating employment and wealth, to promote innovation, to incorporate and retain our young talent. In short, to continue to be an industrial, economic and social engine for Asturias and Spain”. The executive did not want to overlook the fact that the macroeconomic reality we are facing is forcing governments and companies to introduce a new dimension in their energy and industrial approaches, as geopolitical uncertainties have had consequences on the markets. However, they also offer “significant growth opportunities for Duro Felguera”, he said.

Cultural transformation of Duro Felguera

The CEO also stressed that the real value of Duro Felguera is its team of people. “It is not only key, it is essential for our evolution, our continuous improvement, our search for excellence, based on our strengths and on learning from the past to continuously improve and build a bright future, starting today, activating the present”. One of Argüelles’ relevant messages referred to the cultural transformation he is promoting in the company, giving a new orientation to DF’s “core” businesses and at the same time putting the company’s focus on new businesses related to renewables and circular economy; this transformation also involves improving the dynamics of teamwork and placing the project manager at the centre, all with a focus on the customer and on results. In short, it is a “cultural transformation in the way of working in terms of greater focus on method and in terms of empowering talent, which is our greatest asset”.