DGAP-News: KTG Agrar AG: Shareholders approve proposed dividend
(firmenpresse) - KTG Agrar AG / AGM/EGM/Dividend
06.07.2010 08:08
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Hamburg, July 6, 2010 - At the ordinary Annual General Meeting on 2 July
2010, the shareholders of KTG Agrar AG (ISIN: DE000A0DN1J4) approved the
proposed dividend of EUR 0.10 per share. 'This is the first step towards a
sustainable dividend policy,' said Siegfried Hofreiter, CEO of KTG Agrar.
He reported to the more than 150 shareholders on the successful year 2009,
in which the total output increased by 24 percent and the net profit by as
much as 30 percent. The outlook is also positive; the company plans to
continue its expansion and to grow in all segments.
KTG Agrar will continue to focus on its three core competencies - organic
farming, conventional farming and biogas production - and plans to expand
its farmland in east Germany and Lithuania. The company currently manages
more than 30,000 hectares, of which about 6,000 hectares are owned by KTG
Agrar. 'Farmland is a scarce resource and land prices will continue to rise
in future. We want to benefit from this trend,' says Siegfried Hofreiter.
Due to the fact that market prices are much higher than the purchase
prices, there are undisclosed reserves of more than EUR 10 million in KTG's
balance sheet.
In the coming years, growth will be driven by the biogas segment, which is
characterised by an EBIT margin in excess of 20 percent, which is above the
Group average, as well as by very reliable cash flows. 'Our current
production capacity of 11 MW is sufficient to produce clean energy for some
20,000 households,' said Dr. Thomas Berger, Management Board member in
charge of the biogas segment. 'We want to double this output in the next
two years.' Before the end of the year the capacity is to be expanded to
over 14 MW.
The shareholders at the Annual General Meeting in Hamburg were very pleased
with the company's performance in 2009 and the excellent outlook. More than
99 percent of them approved the acts of the Management Board and the
Supervisory Board.
About KTG Agrar:
With cultivable land of more than 30,000 hectares, KTG Agrar AG is one of
the leading producers of agricultural commodities in Europe. The
Hamburg-based company's core area of expertise is the organic and
traditional cultivation of market products such as cereals, maize and
rapeseed. For organic market products KTG Agrar is the european market
leader. The company mainly produces in Germany but has also operated
production in the EU full member state of Lithuania since 2005. The third
mainstay the production of bioenergy. At present, KTG Agrar operates biogas
plants with a total capacity of around eleven megawatts. In the year 2009,
KTG achieved a total output of EUR 59,7 million and EBIT of EUR 9.2
million. Since November 2007 the company is listed on the Frankfurt Stock
Exchange and currently mote than 200 employees. Further information can be
found at www.ktg.ag.
Contact:
Investor Relations / Press
Fabian Lorenz
IR.on AG
Tel: +49 221 914097 - 6
E-Mail: fabian.lorenz(at)ir-on.com
06.07.2010 08:08 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: KTG Agrar AG
Ferdinandstr. 12
20095 Hamburg
Deutschland
Phone: +49 (0)40-303 76-47
Fax: +49 (0)40-303 76-799
E-mail: info(at)ktg-agrar.de
Internet: www.ktg-agrar.de
ISIN: DE000A0DN1J4
WKN: A0DN1J
Listed: Freiverkehr in Berlin, Düsseldorf, München, Stuttgart; Open
Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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Datum: 06.07.2010 - 08:08 Uhr
Sprache: Deutsch
News-ID 23489
Anzahl Zeichen: 0
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Kategorie:
Business News
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