SHW AG / Key word(s): AGM/EGM/Dividend PRESS RELEASE SHW AG: Dividend of EUR 1.00 per share decided by the Annual General Meeting Aalen, 12 May 2014. The Annual General Meeting of SHW AG, which was held in Heidenheim on 9 May 2014, met with great interest on the part of SHW shareholders, who represented 60.72 percent of the company's share capital. In his speech, Dr Thomas Buchholz, Chief Executive Officer of SHW AG, gave a positive summary on fiscal year 2013. "Despite the stagnating European vehicle production, we were able to accomplish our self-determined goals with regard to sales and adjusted Group earnings before interest, taxes, depreciation and amortization (adjusted EBITDA)." In fiscal year 2013, Group sales increased by 12.4 percent to EUR 365.6 million (prior year: EUR 325.4 million). Group earnings before interest, taxes and depreciation and amortisation (adjusted EBITDA) rose as compared to the prior year's EUR 33.9 million to EUR 35.7 million. At EUR 13.4 million, income after tax from continued operations was negatively impacted by significantly higher depreciation and therefore did not reach previous year's level of EUR 14.2 million. SHW continued its growth course in the first quarter 2014: Group sales rose by 23.9 percent to EUR 104.8 million (prior year: EUR 84.6 million). The major factors were successful new product launches and high customer orders. While last year's introduction of SAP had a considerable adverse effect on the Group's result of EUR 6.0 million, Group earnings before interest, taxes, depreciation and amortisation (adjusted EBITDA) improved to only EUR 8.8 million in the period from January to March 2014. Order intake in the first quarter 2014 increased by 13.9 percent on the prior year period to EUR 112.2 million (previous year: EUR 98.5 million). With a view to the future, Dr Thomas Buchholz emphasised: "With our innovative product portfolio we will decisively drive forward the globalisation of our business in North and South America as well as in China. At the same time, we will consistently implement the measures for the optimisation of the logistical and operational business processes at all of our sites." The shareholders approved the proposal of the SHW Board of Management and Supervisory Board to distribute a dividend of EUR 1.00 per share. Accordingly, out of the EUR 13.4 million income after taxes for fiscal year 2013, an amount of EUR 5.9 million will be paid to the shareholders of SHW AG today. This is equivalent to a payout ratio of 43.7 percent. All proposed resolutions of the Board of Management and the Supervisory Board were approved by a large majority of the shareholders. The results of the votes on the individual agenda items of the Annual General Meeting are published on the company's website at http://www.shw.de/cms/de/investor_relations/hauptversammlungen/hv_2014/. The business was established in 1365, making it one of the oldest industrial enterprises in Germany. Today, SHW AG is a leading automotive supplier with products that contribute substantially to a reduction of fuel consumption and consequently CO2 emissions. In its Pumps and Engine Components business segment, the SHW Group develops and produces pumps for passenger vehicles and truck and off-highway applications, e.g. trucks, agricultural and construction vehicles, stationary motors and wind farms, as well as engine components. The Brake Discs business segment develops and produces monobloc vented brake discs made of cast iron and lightweight brake discs made from a combination of an iron friction ring and an aluminium pot. Customers of the SHW Group include leading European and North American car manufacturers, manufacturers of commercial, construction and agricultural machinery and other automotive suppliers. The SHW Group currently has four manufacturing sites in Germany. These are located in Bad Schussenried, Aalen-Wasseralfingen, Tuttlingen-Ludwigstal and Neuhausen ob Eck. With just over 1,000 employees, the SHW Group generated sales from continuing operations in 2013 of 366 million euros. Further information is available at: www.shw.de Contact person Future-oriented statements Note End of Corporate News 12.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | SHW AG | |
Wilhelmstrasse 67 | ||
73433 Aalen-Wasseralfingen | ||
Germany | ||
Phone: | +49 7361 502-1 | |
Fax: | +49 7361 502-674 | |
E-mail: | ir@shw.de | |
Internet: | www.shw.de | |
ISIN: | DE000A1JBPV9 | |
WKN: | A1JBPV | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart | |
End of News | DGAP News-Service |
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