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Wacker Chemie AG — AGM Information 2013
May 8, 2013
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AGM Information
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Corporate | 8 May 2013 14:58
Wacker Chemie AG: SUPERVISORY BOARD RE-ELECTS PETER-ALEXANDER WACKER AS ITS CHAIRMAN
Wacker Chemie AG / Key word(s): AGM/EGM
08.05.2013 / 14:58
– NEW SUPERVISORY BOARD UNANIMOUSLY ELECTS PETER-ALEXANDER WACKER AS ITS CHAIRMAN AT ITS CONSTITUENT MEETING
– EXECUTIVE AND SUPERVISORY BOARDS EXECUTIVE AND SUPERVISORY BOARDS’ PROPOSALS ADOPTED BY LARGE MAJORITY AT 2013 ANNUAL SHAREHOLDERS’ MEETING
– DIVIDEND FOR 2012 IS EUR0.60.
– 2013 SALES AND EARNINGS EXPECTATIONS REAFFIRMED
Munich, May 8, 2013 – Peter-Alexander Wacker remains at the helm of Wacker Chemie AG’s Supervisory Board. Today, the Board unanimously elected the 62-year-old entrepreneur as its chairman at its constituent session, held directly after the 2013 Annual Shareholders’ Meeting.
In a speech to some 1,000 shareholders, Rudolf Staudigl, the CEO of the Munich-based chemical group, reaffirmed sales and earnings projections for fiscal 2013. WACKER continues to expect sales to come in at last year’s level (EUR4.63 billion). Earnings before interest, taxes, depreciation and amortization are likely to be below the prior-year figure (EUR787 million), mainly due to lower polysilicon prices. In Q1 2013, WACKER experienced noticeably higher customer demand after last year’s weak final quarter. WACKER’s Q1 2013 volume growth was led by polysilicon and fueled by numerous chemical products. Sales and earnings were both markedly higher than in Q4 2012.
Staudigl underlined his confidence that WACKER after its stable start during the first quarter is well positioned even in a difficult business environment. Here, WACKER mainly draws on its activities in silicon and polymer chemistry. ‘Our strategic levers for continued growth are expansion, substitution and innovation,’ Staudigl emphasized. According to the CEO, WACKER intends to intensify its expansion in emerging economies, such as Brazil, China, India and Southeast Asia. This strategy, he said, is driven primarily by rising living standards in these countries. WACKER is expanding there by substituting conventional, simpler materials with its higher-end products. As examples, Staudigl mentioned dispersions for the paper, packaging and carpet industries and silicones for applications in the areas of health, personal care, medicine and automotive engineering.
Of 2012’s net income of EUR106.8 million (2011: EUR356.1 million), WACKER is paying out a total of EUR29.8 million to its shareholders, compared with EUR109.3 million last year. The dividend per dividend-bearing share was EUR0.60 after last year’s EUR2.20. The Executive and Supervisory Boards’ other proposals were also adopted by large majorities.
Resolutions and Voting Results
At today’s Annual Shareholders’ Meeting, 38,710,646 voting shares were represented – 74.23 percent of all eligible shares (number of shares outstanding: 49,677,983). The voting results were as follows for agenda items 2 through 6:
Item 2: Resolution on the Appropriation of Net Retained Profit
The Executive and Supervisory Boards proposed that the net retained profit for fiscal 2012 of EUR654.4 million be appropriated as follows: EUR29.8 million to be paid to shareholders and EUR624.6 million to be carried forward to new account. The proposal was adopted. The result was:
– 37,870,214 Yes votes (97.89 percent)
– 818,208 No votes
Item 3: Resolution on the Ratification of the Actions of the Executive Board
The proposal of the Executive and Supervisory Boards to ratify the acts of the members of Wacker Chemie AG’s Executive Board during fiscal 2012 was adopted. The result was:
– 37,810,180 Yes votes (99.91 percent)
– 33,465 No votes
Item 4: Resolution on the Ratification of the Actions of the Supervisory Board
The Executive and Supervisory Boards’ proposal to ratify the acts of the members of Wacker Chemie AG’s Supervisory Board during fiscal 2012 was adopted. The result was:
– 37,676,765 Yes votes (99.87 percent)
– 47,562 No votes
Item 5: Resolution on the Appointment of Auditor
The Supervisory Board’s proposal to appoint KPMG AG as auditor for fiscal 2013 was adopted. The result was:
– 37,835,798 Yes votes (97.83 percent)
– 837,951 No votes
Item 6: Supervisory Board Elections
The Supervisory Board’s proposal to elect Matthias Biebl, Dr. Gregor Biebl, Franz-Josef Kortüm, Dr. Thomas Strüngmann, Dr. Bernd W. Voss, Dr. Peter-Alexander Wacker, Dr. Susanne Weiss and Prof. Dr. Ernst-Ludwig Winnacker to the Supervisory Board until the 2018 Annual Shareholders’ Meeting was adopted by over 99 percent of the votes in each case. The voting results for the individual candidates have been published at: www.wacker.com .
Note to editors: All documents relating to Wacker Chemie AG’s 2013 Annual Shareholders’ Meeting can be downloaded from WACKER’s website ( www.wacker.com ) under Investor Relations.
This press release contains statements about the resolutions of the 2013 Annual Shareholders’ Meeting. Said statements are not binding and serve the sole purpose of providing an overview. They may not always correspond to the exact wording and full extent of the resolutions adopted at the Annual Shareholders’ Meeting.
This press release contains forward-looking statements based on assumptions and estimates of WACKER’s Executive Board. Although we assume the expectations in these forward-looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward-looking statements. Factors that may cause such discrepancies include, among other things, changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. WACKER does not plan to update the forward-looking statements, nor does it assume the obligation to do so.
For further information, please contact:
Wacker Chemie AG
Media Relations & Information
Christof Bachmair
Tel.: +49 89 6279-1830
Fax: +49 89 6279-1239
End of Corporate News
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| Language: | English |
| Company: | Wacker Chemie AG |
| Hanns-Seidel-Platz 4 | |
| 81737 München | |
| Germany | |
| Phone: | 0049-89-6279-1633 |
| Fax: | 0049-89-6279-2933 |
| E-mail: | [email protected] |
| Internet: | www.wacker.com |
| ISIN: | DE000WCH8881 |
| WKN: | WCH888 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart |
| End of News | DGAP News-Service |
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