Highest dividend to date agreed at annual general meeting
• Payout of € 2.20 per share
• Shareholders approve bonus shares program
• Ralf W. Dieter: "Dürr sets the course for the digital future"
Bietigheim-Bissingen, May 9, 2018 – The shareholders of Dürr AG will benefit from the company's success in 2017 through a € 2.20 dividend. The relevant proposal by the Supervisory Board and the Board of Management was approved by a large majority at today's annual general meeting. This year's dividend is the highest to date since the initial public offering in 1990. It constitutes a 4.8 % increase over the previous year (€ 2.10 per share). Dürr will be paying out a total of € 76.1 million, equivalent to 38 % of 2017 consolidated net profit.
Speaking to around 550 shareholders, Ralf W. Dieter, CEO of Dürr AG, commented on the eighth consecutive dividend increase: "The dividend reflects our company's success. We owe this success to our 15,000 employees, who make sure that the Dürr, Schenck and HOMAG brands stand for innovative strength and reliability worldwide."
In his speech, the CEO emphasized the opportunities of digitization: "We are setting the course to ensure that we stay ahead of the competition as the digital age advances. Dürr is seen as one of the digital pioneers in mechanical and plant engineering." With regard to the ADAMOS IoT platform and the digital marketplaces, LOXEO and tapio, Dieter said: "We have a high-performing infrastructure for marketing our digital range. On this basis, we are developing innovations which enable our customers to benefit from the advantages of networked production."
The annual general meeting was led for the first time by the new Chairman of the Dürr AG Supervisory Board, Karl-Heinz Streibich. Streibich, CEO of Software AG and one of the leading experts of the Industrial Internet of Things, said: "Through the digital@DÜRR strategy, Dürr is showing how combining conventional mechanical and plant engineering with modern software and Internet technology leads to success."
At the annual general meeting, Dr. Rolf Breidenbach was elected to the Supervisory Board, thus confirming his appointment by court effective January 1, 2018. Dr. Breidenbach is President and CEO of HELLA GmbH & Co. KGaA. He has taken over on Dürr's Supervisory Board from former Chairman Klaus Eberhardt, whom Karl-Heinz Streibich thanked at the annual general meeting: "Mr. Eberhardt led the Supervisory Board with great care and expertise. The Supervisory Board would like to thank him for his successful work and his great commitment to Dürr."
With roughly 65 % of the share capital present at the annual general meeting, the Board of Management and the Supervisory Board were discharged from liability with more than 96 % of the votes each. The shareholders also approved all other motions put to the vote by a large majority. They included the proposal to issue bonus shares at a ratio of 1:1, due to be implemented in the summer. The voting results are available at www.durr.com.
Photos of Karl-Heinz Streibich, Dr. Rolf Breidenbach and Ralf W. Dieter can be found here.
The Dürr Group is one of the world's leading mechanical and plant engineering firms with extensive expertise in automation and digitization/Industry 4.0. Products, systems and services offered by the Group enable highly efficient manufacturing processes in different industries. Dürr supplies sectors like the automotive industry, the mechanical engineering, chemical and pharmaceutical industries, and the woodworking industry. The company has 92 business locations in 31 countries. The Group generated sales of € 3.72 billion in 2017. Dürr has around 15,000 employees and operates in the market with five divisions:
- Paint and Final Assembly Systems: paint shops and final assembly systems for the automotive industry
- Application Technology: robot technologies for the automated application of paint, sealants and adhesives
- Clean Technology Systems: exhaust-air purification systems and energy efficiency technology
- Measuring and Process Systems: balancing equipment as well as assembly, testing and filling technology
- Woodworking Machinery and Systems: machinery and equipment for the woodworking industry
This publication has been prepared independently by Dürr AG/Dürr group (“Dürr”). It may contain statements which address such key issues as strategy, future financial results, events, competitive positions and product developments. Such forward-looking statements are subject to a number of risks, uncertainties and other factors, including, but not limited to those described in Dürr's disclosures, in particular in the chapter “Risks” in Dürr's annual report. Should one or more of these risks, uncertainties and other factors materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performances or achievements of Dürr may vary materially from those described in the relevant forward-looking statements. These statements may be identified by words such as “expect,” “want,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. Dürr neither intends, nor assumes any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies.
Our financial reports, presentations, press releases and ad-hoc releases may include alternative financial metrics. These metrics are not defined in the IFRS (International Financial Reporting Standards). Dürr's net assets, financial position and results of operations should not be assessed solely on the basis of these alternative financial metrics. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the IFRS. The calculation of alternative financial metrics may vary from company to company despite the use of the same terminology. Further information regarding the alternative financial metrics used at Dürr can be found in our financial glossary on the Dürr web page.