DGAP-News: Wacker Neuson SE: Shareholders approve healthy dividend
(firmenpresse) - DGAP-News: Wacker Neuson SE / Key word(s): Dividend/AGM/EGM
Wacker Neuson SE: Shareholders approve healthy dividend
22.05.2012 / 15:30
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Wacker Neuson SE:
Shareholders approve healthy dividend
Dividend tripled - authorized capital renewed - business remains strong
(Munich, May 22, 2012) Shareholders of Wacker Neuson SE approved a dividend
payout in the amount of EUR 0.50 per share at today's AGM (previous year:
EUR 0.17). Shareholders also approved an authorized capital proposal. The
option of increasing the company's share capital by up to 25 percent gives
the Executive Board headroom to capitalize on opportunities that would
strengthen Wacker Neuson's market position.
Proposals put forward at the AGM approved with a clear majority
196 shareholders with a total of 59,992,814 voting rights were represented
today at the Wacker Neuson SE annual general meeting (AGM) in Munich. Based
on a share capital of 70.14 million shares, this corresponds to a 85.53
percent attendance. Shareholders approved a proposal by the Executive Board
and the Supervisory Board to pay out around 41 percent of Group profit for
2011 as dividends for fiscal 2011. In total, the company will therefore be
paying out EUR 35.07 million. This corresponds to a dividend per share of
EUR 0.50, three times the amount paid out in the previous year (EUR 0.17).
The resolution underscores Wacker Neuson's commitment to sharing its
successful performance in 2011 with its shareholders. The company last paid
out a dividend in this amount before the crisis in 2007.
At the AGM, CEO Cem Peksaglam presented an overview of fiscal 2011. He also
outlined progress thus far in 2012 and detailed the company's future
development framed by the current growth strategy roadmap. The information
was well received by shareholders.
Cem Peksaglam also explained the benefits of creating authorized capital in
the amount of 25 percent of existing share capital. This move enables the
Executive Board, subject to the approval of the Supervisory Board, to issue
up to 17,535,000 new shares within the next five years. Wacker Neuson SE
faces stiff competition at both national and international level. The
authorized capital will enable the company to potentially acquire suitable
companies, in return possibly for shares in Wacker Neuson SE. It will also
enable the company to issue new shares against cash contributions, thus
providing it with an additional financing instrument independently of
banking institutions. Shareholders approved this proposal, giving the
company the option of strengthening its competitive position without
impacting its finances or liquidity. The previous authorized capital
expired in April 2012.
'The resolution aligns with the Group's strategy, giving us maximum
flexibility on both the partnering and financial front. Although we do not
currently have any concrete plans to avail of this authorized capital, it
will give us the headroom to capitalize on opportunities that could improve
our market position and competitiveness,' explains Cem Peksaglam. The Group
has set itself ambitious growth targets through 2016. It intends to expand
market share by increasing market penetration and sales capabilities,
strengthen its innovative drive, and get even closer to its customers by
expanding its international reach. Wacker Neuson has identified growth
potential inits core markets of Europe and North America as well as in
emerging markets, above all in South America, Eastern Europe and Asia. 'As
economic cycles become ever shorter and individual markets and regions more
volatile, we make sure to further internationalize our business to sustain
continuous growth,' adds Peksaglam.
Shareholders also approved the appointment of Dr. Matthias Bruse,
attorney-at-law and partner of the P+P Pöllath+Partners law firm based in
Munich, to the Supervisory Board of Wacker Neuson SE. Dr. Bruse was
initially judicially appointed to the Supervisory Board last year.
Further resolutions were subjected to Supervisory Board remuneration, the
acquisition of treasury shares and the approval of a profit transfer
agreement with an affiliate. Executive Board and Supervisory Board members'
actions were also approved. The auditing company Ernst&Young, Stuttgart,
was appointed as the official auditor to review the Annual and Consolidated
Financial Statements for the fiscal year 2012.
Strong performance expected
Q1 2012 was a successful quarter for the Group. This is attributable to
revenue increases in the compact and light equipment segments, fuelled in
particular by growing signs of general economic recovery in North America
and over all sustained, healthy demand in Europe. 'Excellent performance in
2011 has continued into the first quarter of 2012. Demand for light and
compact equipment is rising, reflecting the increasing impact of our growth
strategies and return on our investments. And of course the general
economic climate is conducive at the moment,' states Peksaglam. 'We remain
confident that we will meet our revenue target of around EUR 1.1 billion
and achieve an EBITDA margin of 15 percent, despite continued uncertainty
in the euro zone.' The Group also enjoys an exceptionally strong financial
position, with an equity ratio (before minority interests) of around 70
percent and low net financial debt compared with industry peers. It expects
business to remain strong throughout 2012 and beyond.
Voting results from the 2012 AGM:
Voting results and further information on the AGM are available online at:
http://corporate.wackerneuson.com/ir/en-agm.php
Your contact partner:
Wacker Neuson SE
Katrin Yvonne Neuffer
Head of Corporate Communication /
Investor Relations
Preussenstr. 41
80809 Munich, Germany
Tel: +49-(0)89-35402-173
katrin.neuffer(at)wackerneuson.com
www.wackerneuson.com
About Wacker Neuson
The Wacker Neuson Group is a leading manufacturer of light and compact
equipment with over 40 affiliates and more than 140 sales and service
stations across the globe. Manufacturing activities are distributed across
three sites in Germany, one in Austria, a components manufacturing plant in
Serbia, two sites in the US and one in the Philippines. Products
manufactured by the company are branded Wacker Neuson. In Europe, the Group
also distributes compact equipment under the brand names Kramer Allrad and
Weidemann (agricultural machinery). With over 300 product categories and a
global spare parts service, Wacker Neuson is the partner of choice among
professional users in a wide range of industries including the
construction, gardening, landscaping and agriculture sectors, as well as
among municipal bodies and companies in the industrial, recycling and
energy sectors.
End of Corporate News
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Language: English
Company: Wacker Neuson SE
Preußenstr. 41
80809 München
Germany
Phone: +49 - (0)89 - 354 02 - 0
Fax: +49 - (0)89 - 354 02 - 390
E-mail: info(at)wackerneuson.com
Internet: www.wackerneuson.com
ISIN: DE000WACK012
WKN: WACK01
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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170993 22.05.2012
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Datum: 22.05.2012 - 15:30 Uhr
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