Corporate | 19 May 2017 13:13
Wacker Chemie AG: Annual Shareholders’ Meeting 2017: WACKER intends to continue its growth in the current fiscal year
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DGAP-News: Wacker Chemie AG / Key word(s): AGM/EGM
Munich, May 19, 2017 – After a good year in 2016, Wacker Chemie AG expects continued sales growth in the current year. Rudolf Staudigl, CEO of the Munich-based chemical company, underscored this point at WACKER’s 2017 Annual Shareholders’ Meeting. “We want to lift our sales by a mid-single-digit percentage this year,” said Staudigl in his speech to some 1,000 shareholders at the International Congress Center in Munich. In the first quarter of 2017, WACKER’s sales and EBITDA figures were markedly better both year over year and quarter over quarter. On the other hand, full-year EBITDA (adjusted for special income) is forecast to decline by a mid-single-digit percentage, primarily due to rising raw-material prices. Staudigl thereby confirmed the annual forecast, which the chemical company had updated in its Q1 2017 report following deconsolidation of Siltronic.
“Sales growth, lower capital expenditures and continuing efficiency and cost improvements will all lift our cash inflow from operating activities in the coming years,” emphasized Staudigl. With this in mind, the company reformulated its previous dividend policy. Now, the company is distributing about half of its annual net profit to shareholders, instead of at least 25 percent as in the past. For full-year 2016, the dividend payout is EUR99.4 million. The dividend per dividend-bearing share is EUR2.00. The Executive and Supervisory Boards’ other proposals were also adopted by large majorities.
At today’s Annual Shareholders’ Meeting, 43,637,257 voting shares were represented – 83.67 percent of all eligible shares (number of shares outstanding: 49,677,983). The voting results were as follows for agenda items 2 through 5: Item 2: Resolution on the Appropriation of Net Retained Profit The Executive and Supervisory Boards proposed that 2016’s retained profit of EUR1.24 billion be appropriated as follows: EUR99.4 million to be distributed to shareholders and EUR1.15 billion to be carried forward to new account. The proposal was adopted. The result was: – 43,591,997 Yes votes (99.99 percent) – 2,076 No votes Item 3: Resolution on the Ratification of the Actions of the Executive Board The proposal of the Executive and Supervisory Boards to ratify the actions of the members of Wacker Chemie AG’s Executive Board during fiscal 2016 was adopted. The result was: – 42,903,781 Yes votes (99.12 percent) – 382,002 No votes Item 4: Resolution on the Ratification of the Actions of the Supervisory Board The Executive and Supervisory Boards’ proposal to ratify the actions of the members of Wacker Chemie AG’s Supervisory Board during fiscal 2016 was adopted. The result was: – 42,068,008 Yes votes (96.65 percent) – 1,457,740 No votes Item 5: Appointment of Auditor The Supervisory Board’s proposal to appoint KPMG AG as auditor for 2017 was adopted. The result was: – 42,416,509 Yes votes (97.53 percent)
– 1,072,712 No votes
This press release contains statements about the resolutions of the 2017 Annual Shareholders’ Meeting. Said statements are not binding and serve the sole purpose of providing an overview. They may not always correspond to the exact wording and full extent of the resolutions adopted at the Annual Shareholders’ Meeting.
19.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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| Language: | English |
| Company: | Wacker Chemie AG |
| Hanns-Seidel-Platz 4 | |
| 81737 München | |
| Germany | |
| Phone: | 0049-89-6279-1633 |
| Fax: | 0049-89-6279-2933 |
| E-mail: | investor.relations@wacker.com |
| Internet: | www.wacker.com |
| ISIN: | DE000WCH8881 |
| WKN: | WCH888 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |