DGAP-News: SHW AG: Dividend of EUR4.00 per share decided by the Annual General Meeting
(firmenpresse) - DGAP-News: SHW AG / Key word(s): AGM/EGM/Dividend
SHW AG: Dividend of EUR4.00 per share decided by the Annual General
Meeting
15.05.2013 / 16:27
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PRESS RELEASE
SHW AG: Dividend of EUR4.00 per share decided by the Annual General Meeting
Heidenheim, 15 May 2013. The second ordinary Annual General Meeting of SHW
AG, which was held in Heidenheim on 14 May 2013, once again met with great
interest on the part of SHW shareholders, who represented 73.82 percent of
the company's share capital. In his speech, Andreas Rydzewski, member of
the SHW Management Board, gave a positive summary on the fiscal year 2012.
'Even under distinctly exacerbated framework conditions - especially in the
second half of 2012 - we succeeded in remaining on a growth path.'
In spite of the 5.4 percent decline in European vehicle production, Group
sales[1]increased by 2.5 percent to EUR 325.4 million (prior year: EUR
317.3 million) in fiscal year 2012. Group net income amounted to EUR 46.1
million as compared to EUR 17.0 million in the previous year. This figure
includes the income after tax from the sale of the 50 percent stake in the
Canadian oil pump manufacturer STT Technologies Inc. in the amount of EUR
31.9 million.
In the first quarter of 2013, too, SHW was able to uncouple from the
negative market trend - new passenger car registrations in the European
Union: - 9,8 percent; Germany: - 12,9 percent) - achieving Group sales of
EUR 84.9 million to reach almost the same level as in the previous year
(EUR 85.4 million). The essential contributors to this result were new
product launches and a shift of the product mix towards more complex pumps.
Summing up, Andreas Rydzewski emphasised: 'The pumps and engine components
as well as the brake discs developed and produced by SHW, which contribute
substantially to the reduction of CO2 emissions of our customers' vehicle
fleets, together with the targeted development of new markets - China and
the Americas - form the basis for further profitable growth in the coming
years.'
The shareholders approved the proposal of the SHW Board of Management and
the Supervisory Board to distribute a dividend of EUR 4.00 per share. Of
this amount, EUR 3.00 per share relate to a one-time special dividend
representing the shareholders' participation in the sale of STT
Technologies Inc. Accordingly, an amount of EUR 23.4 million will be taken
from the balance sheet profit for the fiscal year 2012 of EUR 59.2 million
and paid out to the shareholders of SHW AG today. This is equivalent to a
payout ratio of 39.4 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_2013/.
[1]Since the sale STT Technologies Inc., which was previously consolidated
on a pro-rata basis, has been classified as a 'discontinued operation' as
defined in IFRS 5. Sales, expenses and income are reported without STT. The
prior year's figures have been adjusted accordingly.
About SHW
The enterprise was established in 1365, making it one of the oldest
industrial enterprises in Germany. Today, SHW AG is a leading automotive
supplier with products thatcontribute 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 cars and truck and off-highway applications, e.g. trucks,
agricultural and construction vehicles, stationary motors and wind power
stations. The Brake Discs business segment develops and produces monobloc
ventilated 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 automobile manufacturers, manufacturers of
commercial, construction and agricultural vehicles and other automotive
suppliers. The SHW Group currently has four manufacturing sites in Germany,
located in Bad Schussenried, Aalen-Wasseralfingen, Tuttlingen-Ludwigstal
and Neuhausen ob Eck. With slightly more than 1,000 employees, the SHW
Group generated sales from continuing operations in 2012 of EUR 325
million. Further information is available at: www.shw.de
Contact person
Michael Schickling
Head of Investor Relations&Corporate Communications
SHW AG
Telephone: +49 (0) 7361 502 462
Email: michael.schickling(at)shw.de
Future-oriented statements
This press release contains certain future-oriented statements that are
based upon current assumptions and forecasts made by the management of SHW
AG. Various known and unknown risks, uncertainties and other factors may
lead to the actual results, financial position, development or performance
of the company deviating considerably from the appraisals specified here.
The company assumes no obligation to update future-oriented statements of
this nature or adapt them to future events or developments.
Note
This announcement does not constitute an offer to sell securities in the
United States of America, Canada, Australia, Japan or any other
jurisdictional territory where offers are subject to statutory
restrictions. The securities named in this announcement may only be sold or
offered for sale in the United States of America following their prior
registration in accordance with the provisions of the version of the US
Securities Act of 1933 currently in force (the 'Securities Act') or,
without prior registration, only on the basis of an exemption. Unless
provided for by certain exceptions within the Securities Act, the
securities named within this announcement may not be sold or offered for
sale in Australia, Canada or Japan, nor may they be sold or offered for
sale to or for account of residents of Australia, Canada or Japan. No
registration of the offer or sale of the securities named in this
announcement will take place, as stipulated by the relevant statutory
provisions in Canada, Australia and Japan. There is no public solicitation
to buy securities in the United States of America.
End of Corporate News
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15.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: SHW AG
Wilhelmstrasse 67
73433 Aalen-Wasseralfingen
Germany
Phone: +49 7361 502-1
Fax: +49 7361 502-421
E-mail: info(at)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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211327 15.05.2013
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Datum: 15.05.2013 - 16:27 Uhr
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