DGAP-News: ElringKlinger AGM increases regular dividend by 12.5% - Klaus Eberhardt appointed as new member of the Supervisory Board
(firmenpresse) - DGAP-News: ElringKlinger AG / Key word(s): AGM/EGM
ElringKlinger AGM increases regular dividend by 12.5% - Klaus
Eberhardt appointed as new member of the Supervisory Board
16.05.2013 / 13:49
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Stuttgart, Dettingen/Erms (Germany), May, 16, 2013 +++ MDAX-listed
ElringKlinger AG will pay a regular dividend of EUR 0.45 (0.40) per share
for fiscal 2012. Additionally, the AGM elected Klaus Eberhardt, former CEO
of Rheinmetall AG, as a new member of the Supervisory Board. The AGM
approved the actions of the Management Board and Supervisory Board of
ElringKlinger AG by a large majority.
Benefiting from various new product ramp-ups and its strong positioning in
Asia and North America, ElringKlinger managed to defy the weak state of the
European vehicle markets over the course of the financial year 2012. Profit
after taxes and non-controlling interests (profit attributable to the
shareholders of ElringKlinger AG) totaled EUR 85.9 (94.9) million. In this
context, the figure posted for the previous financial year had included a
non-recurring gain of EUR 16.5 million after taxes attributable to the sale
of the company's Ludwigsburg industrial park. On a like-for-like basis (EUR
78.4 million), profit after taxes and non-controlling interests rose by
9.6% in 2012.
On this basis, the shareholders supported the proposal put forward by the
Management Board and Supervisory Board and passed a resolution, with 99.99%
in favor, to increase the regular dividend to EUR 0.45 (0.40) per share.
Participating in the company's success, the shareholders in the company
will thus receive a dividend payout of EUR 28.5 million in total.
Calculated on the basis of applicable net income of ElringKlinger AG,
amounting to EUR 56.5 million, the dividend ratio for the 2012 financial
year stands at 50.4%. In 2012, shareholders had received an extra dividend
of EUR 0.18 per share in addition to the regular dividend. The extra
dividend was attributable to one-time income from the sale of the
Ludwigsburg industrial park in 2011.
Addressing an audience of around 600 shareholders and guests attending the
AGM at the Liederhalle Cultural and Congress Center in Stuttgart, CEO Dr.
Stefan Wolf looked back on what was a satisfactory financial year: 'Despite
a downturn that saw Western Europe's vehicle markets slump to a 25-year
low, ElringKlinger managed to expand its revenue by 9% and generate
profitable growth in 2012.' Sales revenue recorded by the ElringKlinger
Group increased to EUR 1,127.2 (1,032.8) million in 2012, while adjusted
earnings before interest and taxes (EBIT) rose to EUR 136.0 (126.0)
million.
New member of the Supervisory Board elected - Broad approval for all items
on the agenda
With 97.91% in favor, the AGM elected Klaus Eberhardt, former CEO of
Rheinmetall AG, as a successor to Karl Uwe van Husen, who had stepped down
from his post as Supervisory Board member for reasons of age at the end of
the 2013 Annual General Meeting.
The shareholders of ElringKlinger also passed the other proposals put
forward by the management by large majorities. The actions of the
Management Board and the Supervisory Board were ratified with 99.67% and
98.62% of the votes respectively. Ernst&Young GmbH was appointed as the
auditor for the financial year 2013.
Future Inside - The world of mobility in the future
In the foyer of the Cultural and Congress Center, shareholders and guests
were given an insight into the extensive range of products engineered by
the ElringKlinger Group for automotive applications of the future.
Alongside established products aimed at optimizing the combustion engine,
the company showcased new developments within the area of e-mobility as
well as end-to-end exhaust gas purification systems supplied by the Swiss
subsidiary Hug. The main focus of those attending this event was on a pure
electric vehicle, equipped with ElringKlinger cell contact systems for the
lithium-ion battery stack, as well as the 2012 Engine of the Year, for
which ElringKlinger developed the cylinder-head gasket.
Revenue and earnings growth expected for annual period
Moving into fiscal 2013, the ElringKlinger Group managed to compensate for
the continued malaise in Europe with a strong performance in Asia. Against
this backdrop, Dr. Stefan Wolf is moderately positive as regards the
prospects for business over the course of the year. In the first quarter of
2013, sales revenue increased by 1.1% to EUR 286.8 (283.8) million, while
earnings before taxes contracted slightly to EUR 33.0 (34.0) million.
ElringKlinger plans to increase sales revenue by 5 to 7% in 2013 in terms
of organic growth. Should global car production only stagnate in 2013,
revenue growth is more likely to be positioned at the lower end of this
range. At the same time, EBIT is to grow at a faster rate than revenue.
EBIT for the financial year 2013 as a whole is expected to range from EUR
150 to 155 million (EUR 136.0 million in 2012).
'Supported by new products and structural growth in our core business,
particularly turbocharger gaskets, thermal shielding parts and lightweight
components, we will once again be looking to outpace market growth,' said
Wolf. 'As the rate of expansion will be particularly dynamic in Asia, we
consider ourselves favorably positioned despite the ongoing industry
challenges faced in Western Europe.'
End of Corporate News
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16.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: ElringKlinger AG
Max-Eyth-Straße 2
72581 Dettingen/Erms
Germany
Phone: 071 23 / 724-636
Fax: 071 23 / 724-459
E-mail: stephan.haas(at)elringklinger.de
Internet: www.elringklinger.de
ISIN: DE0007856023
WKN: 785602
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard),
Stuttgart; Freiverkehr in Berlin, Düsseldorf, Hamburg,
Hannover, München
End of News DGAP News-Service
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