Wacker Neuson SE: Wacker Neuson shareholders approve higher dividend
Wacker Neuson SE / Key word(s): AGM/EGM/Dividend
Wacker Neuson shareholders approve higher dividend
(Munich, May 27, 2014) The annual general meeting of Wacker Neuson SE took place in Munich today. In addition to a resolution on the appropriation of profit for fiscal 2013, the agenda included presentation of the annual financial statements, approval of Executive Board and Supervisory Board actions, the appointment of two new Supervisory Board members and the appointment of the auditor for the current year.
248 shareholders representing 58,323,626 of voting rights in total attended the Wacker Neuson SE annual general meeting (AGM) in Munich today. Based on a share capital of 70.14 million shares, this corresponds to a 83.15-percent attendance.
CFO Günther Binder pointed to factors like the reduced ratio of operating costs (sales plus general and administrative expenses and R&D expenses) to revenue, thus underlining the productivity gains achieved throughout the Group. The strong increase in cash flow from operating activities, flanked by a slight drop in investment compared with the previous year, resulted in a positive free cash flow for the first time since 2009, something the Group aims to repeat in 2014.
Peksaglam also discussed the current fiscal year. Performance in the first quarter of 2014 was very good, as expected. Group revenue grew by 13 percent, or 17 percent when exchange rate fluctuations are discounted. "In Europe, we benefitted from a sustained recovery in the construction industry, a more positive outlook in the agricultural sector and a milder than usual winter, and this - combined with a revival in the US construction industry - contributed to our strong performance," summarized Peksaglam. The compact equipment (+21 percent) and services (+20 percent) segments saw particularly good growth, and profitability was another area where the Group was able to make a strong gain.
Outlook and strategy
The Group's robust financial shape also provides certainty and ensures continuity. "A solid financial footing is a must for companies seeking to maintain their technology leadership through innovation, further expand their existing markets and tap into new markets. And we are very solid," maintained Peksaglam. "Meanwhile, we will continue to evaluate opportunities for mergers, acquisitions and strategic alliances."
Changes to the Supervisory Board
Voting results from the 2014 AGM
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About Wacker Neuson: The Wacker Neuson Group is a leading manufacturer of light and compact equipment
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|Company:||Wacker Neuson SE|
|Phone:||+49 - (0)89 - 354 02 - 0|
|Fax:||+49 - (0)89 - 354 02 - 390|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart|
|End of News||DGAP News-Service|