Wacker Chemie AG - AGM Information 2017

News Details

Corporate | 19 May 2017 13:13

Wacker Chemie AG: Annual Shareholders’ Meeting 2017: WACKER intends to continue its growth in the current fiscal year

DGAP-News: Wacker Chemie AG / Key word(s): AGM/EGM

19.05.2017 / 13:13

The issuer is solely responsible for the content of this announcement.

EXECUTIVE AND SUPERVISORY BOARDS’ PROPOSALS ADOPTED BY LARGE MAJORITY OF SHAREHOLDERS
DIVIDEND OF EUR2.00 FOR FISCAL 2016
2017 SALES AND EARNINGS FORECAST AFFIRMED

Munich, May 19, 2017 – After a good year in 2016, Wacker Chemie AG expects continued sales growth in the current year. Rudolf Staudigl, CEO of the Munich-based chemical company, underscored this point at WACKER’s 2017 Annual Shareholders’ Meeting. “We want to lift our sales by a mid-single-digit percentage this year,” said Staudigl in his speech to some 1,000 shareholders at the International Congress Center in Munich. In the first quarter of 2017, WACKER’s sales and EBITDA figures were markedly better both year over year and quarter over quarter. On the other hand, full-year EBITDA (adjusted for special income) is forecast to decline by a mid-single-digit percentage, primarily due to rising raw-material prices. Staudigl thereby confirmed the annual forecast, which the chemical company had updated in its Q1 2017 report following deconsolidation of Siltronic.

In his speech, Staudigl gave details of the company’s direction in the years ahead and explained the strategic goals WACKER will be focusing on until 2020. “We will continue expanding our production capacities, with capital expenditures staying below depreciation,” said the CEO. “We want to grow faster than the chemical-sector average and achieve attractive margins with our products. At our chemical divisions, we are targeting an EBITDA margin of over 16 percent. For our polysilicon business, the target margin is in excess of 30 percent.” According to Staudigl, a further priority is the development of new products with a focus on sustainable energy generation, electromobility and energy conservation. As examples, he mentioned high-performance silicones for electric cars, adhesive additives for wind turbines and dispersible polymer powders for building insulation systems. Moreover, the company intends to work on the process efficiency of its production plants. The goal is to achieve a reduction in raw-material and energy consumption, coupled with higher output.

“Sales growth, lower capital expenditures and continuing efficiency and cost improvements will all lift our cash inflow from operating activities in the coming years,” emphasized Staudigl. With this in mind, the company reformulated its previous dividend policy. Now, the company is distributing about half of its annual net profit to shareholders, instead of at least 25 percent as in the past. For full-year 2016, the dividend payout is EUR99.4 million. The dividend per dividend-bearing share is EUR2.00. The Executive and Supervisory Boards’ other proposals were also adopted by large majorities.

Resolutions and Voting Results

At today’s Annual Shareholders’ Meeting, 43,637,257 voting shares were represented – 83.67 percent of all eligible shares (number of shares outstanding: 49,677,983). The voting results were as follows for agenda items 2 through 5:

Item 2: Resolution on the Appropriation of Net Retained Profit

The Executive and Supervisory Boards proposed that 2016’s retained profit of EUR1.24 billion be appropriated as follows: EUR99.4 million to be distributed to shareholders and EUR1.15 billion to be carried forward to new account. The proposal was adopted. The result was:

– 43,591,997 Yes votes (99.99 percent)

– 2,076 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 actions of the members of Wacker Chemie AG’s Executive Board during fiscal 2016 was adopted. The result was:

– 42,903,781 Yes votes (99.12 percent)

– 382,002 No votes

Item 4: Resolution on the Ratification of the Actions of the Supervisory Board

The Executive and Supervisory Boards’ proposal to ratify the actions of the members of Wacker Chemie AG’s Supervisory Board during fiscal 2016 was adopted. The result was:

– 42,068,008 Yes votes (96.65 percent)

– 1,457,740 No votes

Item 5: Appointment of Auditor

The Supervisory Board’s proposal to appoint KPMG AG as auditor for 2017 was adopted. The result was:

– 42,416,509 Yes votes (97.53 percent)

– 1,072,712 No votes

Information for editorial offices: All documents relating to Wacker Chemie AG’s 2017 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 2017 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 its 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

[email protected]

19.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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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:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange