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ElringKlinger AG — AGM Information 2014
May 16, 2014
138_rns_2014-05-16_d08fb54e-9730-46ea-b968-cfa7185ec533.html
AGM Information
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Corporate | 16 May 2014 13:49
ElringKlinger AGM approves dividend of 50 cents per share – Broad approval for all items on the agenda
DGAP-News: ElringKlinger AG / Key word(s): AGM/EGM
16.05.2014 / 13:49
Stuttgart, Dettingen/Erms (Germany), May, 16, 2014 +++ MDAX-listed
ElringKlinger AG will pay a regular dividend of EUR 0.50 (0.45) per share
for the financial year 2013. The Annual General Meeting (AGM) elected
Gabriele Sons, Management Board member of ThyssenKrupp Elevator AG, onto
the Supervisory Board of ElringKlinger AG. Additionally, the AGM approved
the actions of both the Management Board and the Supervisory Board of
ElringKlinger AG by large majorities.
Addressing an audience of around 550 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 2013:
"Despite difficult market conditions and the negative foreign exchange
effects associated with a strong euro, we managed to set new records with
regard to revenue and earnings. The ElringKlinger Group succeeded in
expanding revenue by 4.3% to EUR 1,175.2 (1,127.2) million, thus outpacing
the global car markets in terms of percentage growth. At the same time,
growth generated at Group level was profitable." Earnings before interest
and taxes (EBIT) rose to EUR 160.4 (135.8) million. This figure included
non-recurring income of EUR 17.6 million from the assumption of control
over the Japanese joint venture ElringKlinger Marusan Corporation.
Eliminating this non-recurring item, profit after taxes and non-controlling
interests (profit attributable to the shareholders of ElringKlinger AG)
totaled EUR 92.7 (85.7) million, up 8.2%.
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 0.50 (0.45) per share. Participating
in the company's success, company shareholders will thus receive a dividend
payout of EUR 31.7 (28.5) million in total, which represents a year-on-year
increase of 11.2%. Calculated on the basis of applicable net income of
ElringKlinger AG, amounting to EUR 60.2 (56.5) million, the dividend ratio
for the financial year 2013 is 52.7% (50.4%).
Broad approval for all items on the agenda - Gabriele Sons elected onto the
Supervisory Board
As a replacement to Dr. Thomas Klinger-Lohr, who stepped down from the
Supervisory Board as of December 31, 2013, 99.54% of the AGM voted in favor
of electing Gabriele Sons onto the Supervisory Board. She had already been
appointed as a member of the Supervisory Board on a temporary basis by the
District Court. Ms. Sons is a member of the Management Board of
ThyssenKrupp Elevator AG.
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 99.60% and
98.74% of the votes respectively.
Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft, Stuttgart, was
reappointed as the auditor for the financial year 2014.
Beyond CO2 - Focusing on emissions reduction
As part of a presentation 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. The exhibition included a number of new products centered
around emissions reduction in combustion engines, including diesel
particulate filters for locomotives and ships from the Exhaust Gas
Purification division. Visitors also showed a keen interest in new
developments within the E-Mobility division, which included a battery
module on the basis of prismatic lithium-ion cells for material-handling
equipment and a hydrogen-powered fuel cell stack with an output of 6 kW for
use in range extenders.
"Benefiting from our entry into the lightweight engineering market and
supported by strong structural growth in the area of turbocharger gaskets,
thermal shielding parts and exhaust gas purification technology, we are
favorably positioned to pursue further profitable growth in the years to
come, despite persistently large future-focused investments directed at the
E-Mobility division," said Dr. Stefan Wolf, CEO of ElringKlinger AG, in his
address to the company's shareholders. "ElringKlinger AG shareholders will
continue to profit from this performance," said Wolf.
Further revenue and earnings growth expected for 2014 as a whole
The company confirmed its forecast for the current annual period. For 2014,
ElringKlinger anticipates that production output in the global car market
will expand by 2 to 3%. Against this backdrop, the ElringKlinger Group has
forecast that - on the back of revenue totaling EUR 1,175.2 million in the
2013 financial year - its revenue will grow by 5 to 7% organically in 2014,
thus outpacing the market as a whole in terms of percentage growth. The
full consolidation of ElringKlinger Marusan Corporation will additionally
contribute around EUR 25 million to Group revenue. Adjusted for
non-recurring items, EBIT (= operating result) is to rise to a level of EUR
160 to 165 (149.2) million.
Contact:
For further information, please contact:
ElringKlinger AG - Investor Relations/Corporate PR
Stephan Haas
Max-Eyth-Straße 2
72581 Dettingen/Erms
Tel.: +49 (0)7123-724-137
E-Mail: [email protected]
End of Corporate News
16.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group 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 / 724-0
Fax: 071 23 / 724-9006
E-mail: [email protected]
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
269034 16.05.2014