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18.03.2024

Autoneum: Increase in revenue and profit in 2023

Autoneum significantly improved revenue in local currencies by 34.8% in 2023 compared to the previous year, supported by inorganic growth and a positive market environment. Consolidated in Swiss francs, revenue increased by 27.6% to CHF 2 302.3 million. The acquisition of Borgers Automotive already made a positive contribution to earnings and value in the first year and Business Group North America achieved a turnaround. EBIT adjusted for one-time effects more than doubled year-on-year to CHF 99.2 million and, with an EBIT margin of 4.3%, was at the upper end of the guidance. Net profit for the full year 2023 increased by an impressive CHF 50.2 million to CHF 61.1 million. Based on the positive net results, the Board of Directors is proposing a dividend of CHF 2.50 per share.

Autoneum significantly improved revenue in local currencies by 34.8% in 2023 compared to the previous year, supported by inorganic growth and a positive market environment. Consolidated in Swiss francs, revenue increased by 27.6% to CHF 2 302.3 million. The acquisition of Borgers Automotive already made a positive contribution to earnings and value in the first year and Business Group North America achieved a turnaround. EBIT adjusted for one-time effects more than doubled year-on-year to CHF 99.2 million and, with an EBIT margin of 4.3%, was at the upper end of the guidance. Net profit for the full year 2023 increased by an impressive CHF 50.2 million to CHF 61.1 million. Based on the positive net results, the Board of Directors is proposing a dividend of CHF 2.50 per share.

Outlook
According to forecasts, worldwide automobile production will be somewhat restrained in 2024 and may even decline slightly compared with 2023. Based on these market forecasts1, Autoneum expects revenue in 2024 of CHF 2.3 billion to 2.5 billion. The Company anticipates an EBIT margin of 4.5–5.5% and free cash flow in the high upper double-digit million range for 2024.

1 Source: S&P Global Light Vehicle Production Forecast of February 16, 2024.

More information:
Autoneum financial year 2023
Source:

Autoneum Management AG

18.03.2024

Solvay: Full-year 2023 results

  • Solvay’s FY 2023 financial statements reflect the Partial Demerger completed on December 9, 2023, with the Specialty businesses transferred to Syensqo classified as discontinued operations for 2023.
  • New Solvay leadership team committed to drive the transformation of the company.
  • Net sales for the full year 2023 at €4,880 million were down -12.6% organically versus 2022, driven primarily by volume declines. In Q4, net sales decreased organically by -18.9% from both lower volumes and prices.
  • Underlying EBITDA of €1,246 million for the full year 2023 was stable (+0.2%) on an organic basis compared to a record 2022, with positive Net Pricing and lower fixed costs offsetting the drop in volumes. EBITDA in the fourth quarter was down -24.5% organically vs Q4 2022, fully driven by lower volumes, with variable costs reduction offsetting price erosion, while fixed costs decreased slightly.
  • Underlying net profit from continuing operations was €588 million in 2023 compared to €740 million in 2022.
  • Free Cash Flow of €561 million in 2023 (+17.3% vs.
  • Solvay’s FY 2023 financial statements reflect the Partial Demerger completed on December 9, 2023, with the Specialty businesses transferred to Syensqo classified as discontinued operations for 2023.
  • New Solvay leadership team committed to drive the transformation of the company.
  • Net sales for the full year 2023 at €4,880 million were down -12.6% organically versus 2022, driven primarily by volume declines. In Q4, net sales decreased organically by -18.9% from both lower volumes and prices.
  • Underlying EBITDA of €1,246 million for the full year 2023 was stable (+0.2%) on an organic basis compared to a record 2022, with positive Net Pricing and lower fixed costs offsetting the drop in volumes. EBITDA in the fourth quarter was down -24.5% organically vs Q4 2022, fully driven by lower volumes, with variable costs reduction offsetting price erosion, while fixed costs decreased slightly.
  • Underlying net profit from continuing operations was €588 million in 2023 compared to €740 million in 2022.
  • Free Cash Flow of €561 million in 2023 (+17.3% vs. €479 million in 2022) resulting in a record FCF conversion ratio of 45.4%, thanks to the strong EBITDA performance and to the positive impact from working capital variation.
  • ROCE was 20.4% in 2023, -2.5pp compared to 2022 as a result of lower profit.
  • Solid balance sheet at the end of December 2023, in line with the target capital structure announced in November 2023, with an underlying net debt of €1.5 billion, which translates into a leverage ratio of 1.2x.
  • Total proposed gross dividend of €2.43 per share, subject to shareholders’ approval during the next Ordinary General Meeting of May 28, 2024.
  • Solvay continues to reduce its GHG emissions (-19% vs 2021, scope 1 and 2).
  • 2024 Outlook: Organic growth of the underlying EBITDA of -10% to -20% compared to restated 2023; Free cash flow of minimum €260 million

2024 outlook
Across its product portfolio, Solvay expects current demand levels to continue over the next few months and, as such, expects H1 2024 volumes to be broadly in line with H2 2023. At this point, there is little visibility on the second half of the year, however there are signs that the trend in the second half could improve. Solvay expects Soda Ash prices over FY 2024 to be lower than FY 2023, consistent with the current market environment, which will affect the business margin in 2024. Pricing trends across Solvay’s other businesses are forecasted to be more resilient year on year.

Lower energy and raw materials prices should offset some of the negative pressure on the topline. More importantly, Solvay has started to implement cost savings initiatives that will start to deliver results in 2024.

For full year 2024, Solvay expects an organic growth of the underlying EBITDA by -10% to -20% versus a high comparison base in 2023, especially in H1. This translates into a range of €925 million to €1,040 million at a 1.10 EUR/USD exchange rate.

The organic growth of the underlying EBITDA is calculated from a 2023 restated figure of €1,154 million (vs a reported figure of €1,246 million).

Free cash flow to Solvay shareholders from continuing operations is expected to be greater than €260 million, in line with the cash usage prioritization presented during the Capital Market Day in November 2023. It is supported by Solvay’s ability to manage its capex and working capital to ensure the financing of its businesses and the payment of dividends while keeping the strength of its balance sheet intact.

Solvay remains committed to implement its strategic roadmap and reconfirms its 2028 targets as communicated at the Capital Markets Day of November 2023.

Source:

Solvay

13.03.2024

Rieter: Successful financial year 2023

  • Sales of CHF 1 418.6 million in the 2023 financial year
  • Order intake of CHF 541.8 million in the 2023 financial year; order backlog of around CHF 650 million as of December 31, 2023
  • EBIT margin of 7.2%
  • “Next Level” performance program on track
  • Proposed dividend of CHF 3.00 per share
  • Outlook 2024 with sales of around CHF 1 billion

The Rieter Group closed the 2023 financial year with slightly lower sales of CHF 1 418.6 million (2022: CHF 1 510.9 million), down 6% on the previous year. In line with expectations, the order intake of CHF 541.8 million was considerably below the prior year period (2022: CHF 1 157.3 million). In a challenging business environment, Rieter generated an EBIT margin of 7.2%. Implementation of the “Next Level” performance program to increase profitability is proceeding according to plan.

  • Sales of CHF 1 418.6 million in the 2023 financial year
  • Order intake of CHF 541.8 million in the 2023 financial year; order backlog of around CHF 650 million as of December 31, 2023
  • EBIT margin of 7.2%
  • “Next Level” performance program on track
  • Proposed dividend of CHF 3.00 per share
  • Outlook 2024 with sales of around CHF 1 billion

The Rieter Group closed the 2023 financial year with slightly lower sales of CHF 1 418.6 million (2022: CHF 1 510.9 million), down 6% on the previous year. In line with expectations, the order intake of CHF 541.8 million was considerably below the prior year period (2022: CHF 1 157.3 million). In a challenging business environment, Rieter generated an EBIT margin of 7.2%. Implementation of the “Next Level” performance program to increase profitability is proceeding according to plan.

Outlook 2024
Markets remain under pressure from the economic slowdown, high inflation rates and noticeably dampened consumer sentiment. Customers are reluctant to place orders due to financing challenges. The first signs of a recovery in the 2024 financial year have emerged in the key markets of China and India. Rieter expects demand to increase in the coming months.
For the full year 2024, Rieter anticipates sales in the region of CHF 1 billion and a positive EBIT margin of up to 4%.

Source:

Rieter Management AG

26.02.2024

AkzoNobel: Full-year 2023 results

Highlights Q4 2023 (compared with Q4 2022)

  • Revenue in constant currencies up 4% on higher volumes and pricing (reported revenue -3%)
  • Operating income improved to €214 million (2022: €103 million)
  • Adjusted operating income at €221 million (2022: €126 million); ROS at 8.7% (2022: 4.8%); €244 million before €23 million negative impact from hyperinflation accounting
  • Net cash from operating activities positive €574 million (2022: €291 million)

Highlights full-year 2023 (compared with full-year 2022)

Highlights Q4 2023 (compared with Q4 2022)

  • Revenue in constant currencies up 4% on higher volumes and pricing (reported revenue -3%)
  • Operating income improved to €214 million (2022: €103 million)
  • Adjusted operating income at €221 million (2022: €126 million); ROS at 8.7% (2022: 4.8%); €244 million before €23 million negative impact from hyperinflation accounting
  • Net cash from operating activities positive €574 million (2022: €291 million)

Highlights full-year 2023 (compared with full-year 2022)

  • Revenue in constant currencies up 5% driven by pricing (reported revenue -2%)
  • Operating income improved to €1,029 million (2022: €708 million)
  • Adjusted operating income at €1,074 million (2022: €789 million), despite €77 million adverse
  • currency effects from translation; ROS at 10.1% (2022: 7.3%)
  • Adjusted EBITDA at €1,429 million (2022: €1,157 million), despite €92 million adverse currency
  • effects from translation
  • Net cash from operating activities positive €1,126 million (2022: €263 million)
  • Net debt to EBITDA leverage ratio improved to 2.7 (2022: 3.8)
  • Final dividend proposed of €1.54 per share (2022: €1.54)

Outlook mid-term
For the mid-term, AkzoNobel aims to expand profitability to deliver an adjusted EBITDA margin of above 16% and a return on investment between 16% and 19%, underpinned by organic growth and industrial excellence. The company aims to lower its leverage to around 2 times in the mid-term, while remaining committed to retaining a strong investment grade credit rating.

More information:
AkzoNobel financial year 2023
Source:

AkzoNobel

06.11.2023

Solvay: 2023 third quarter results

Highlights

Highlights

  • Net sales in the third quarter of 2023 were down by -20.3% organically versus a record Q3 2022 as expected due to -15% lower volumes (€-512 million) in a weaker macro environment and -5% lower prices (€-188 million) in a context of lower raw material costs and energy prices. On a sequential basis, net sales were down -11% versus Q2. The volume reduction was broad based across regions and businesses.
  • Structural cost savings for the first nine months of 2023 amounted to €63 million, bringing the total savings since 2019 to €530 million.
  • Underlying EBITDA of €702 million in Q3 2023 was down by -18.5% organically compared to a record Q3 2022 driven by lower volumes, partly offset by €36 million in positive net pricing and €41 million in lower fixed costs. Nine months EBITDA at €2,331 million is only down -1% organically versus 2022, a clear indication that strong historic pricing and cost discipline momentum is being maintained.
  • The underlying EBITDA margin of 25.6% in Q3 2023 was sustained relative to Q3 2022 despite lower volumes, while nine months EBITDA margin of 25.9% is +1.3pp higher, mainly as a result of positive net pricing and cost discipline.
  • Underlying Net Profit was €340 million in Q3 2023 compared to €509 million in Q3 2022.
  • Free Cash Flow of €346 million in Q3 2023 resulted in a nine-month 2023 total of €1,027 million and a FCF conversion ratio of 39.4%.
  • ROCE was 15.2%, broadly in line with Q3 2022.
  • Continued strengthening of the balance sheet with underlying net debt at €2.8 billion, which translated to a historic low leverage of 0.9x.
  • As explained on page 2, an interim dividend of €1.62 gross per share has been validated by the Board of Directors, in line with historical interim dividend policy to be paid by Solvay SA on January 17, 2024.

2023 Outlook
Given the current volume momentum, Solvay reconfirm their full year guidance, at the lower end of the prior EBITDA guidance range.

More information:
Solvay financial year 2023
Source:

Solvay

26.04.2023

Ben Noteboom appointed as member of AkzoNobel’s Supervisory Board

AkzoNobel shareholders voted in favor of all resolutions at the company’s Annual General Meeting (AGM).
 
As well as adopting the company's 2022 financial statements, the dividend policy and total dividend per share of €1.98 for 2022 were also agreed. In addition, Mr. Ben Noteboom was appointed by the AGM as a new member of the company’s Supervisory Board. The intention is to elect Mr. Noteboom as Chair of AkzoNobel’s Supervisory Board as of May 25, 2023, when he will resign as member of the Supervisory Board of Aegon N.V.
 
Mr. Byron Grote, Deputy Chair of AkzoNobel’s Supervisory Board, commented: “We’re very pleased with the appointment of Ben Noteboom. His strong track record in executive and non-executive roles, and his broad experience in different industries – including the chemical industry – will be valuable additions to AkzoNobel. We wish him every success in his new role.”
 
Mr. Noteboom will succeed Mr. Nils Smedegaard Andersen, who has served as a member and Chair of the Supervisory Board since 2018.

Mrs. Jolanda Poots-Bijl and Mr. Dick Sluimers were both reappointed as member of the Supervisory Board.

AkzoNobel shareholders voted in favor of all resolutions at the company’s Annual General Meeting (AGM).
 
As well as adopting the company's 2022 financial statements, the dividend policy and total dividend per share of €1.98 for 2022 were also agreed. In addition, Mr. Ben Noteboom was appointed by the AGM as a new member of the company’s Supervisory Board. The intention is to elect Mr. Noteboom as Chair of AkzoNobel’s Supervisory Board as of May 25, 2023, when he will resign as member of the Supervisory Board of Aegon N.V.
 
Mr. Byron Grote, Deputy Chair of AkzoNobel’s Supervisory Board, commented: “We’re very pleased with the appointment of Ben Noteboom. His strong track record in executive and non-executive roles, and his broad experience in different industries – including the chemical industry – will be valuable additions to AkzoNobel. We wish him every success in his new role.”
 
Mr. Noteboom will succeed Mr. Nils Smedegaard Andersen, who has served as a member and Chair of the Supervisory Board since 2018.

Mrs. Jolanda Poots-Bijl and Mr. Dick Sluimers were both reappointed as member of the Supervisory Board.

Source:

AkzoNobel

21.04.2023

Rieter: Annual General Meeting 2023

Shareholders Adopt All Motions Proposed by the Board of Directors

  • Distribution of a dividend of CHF 1.50 per share approved
  • Remuneration Report 2022 and future remuneration of Board of Directors and Group Executive Committee formally accepted
  • All members of the Board of Directors who stood for re-election were elected
  • Thomas Oetterli newly appointed to the Board of Directors
  • KPMG newly elected as statutory auditors
  • Amendments to the Articles of Association approved

On April 20, 2023, 325 shareholders, who represent 66.2% of the share capital, attended the 132nd Annual General Meeting of Rieter Holding Ltd.

Dividend
The shareholders approved the proposal of the Board of Directors to distribute a dividend of CHF 1.50 per share. The dividend for the 2022 financial year will be paid on April 24, 2023.

Shareholders Adopt All Motions Proposed by the Board of Directors

  • Distribution of a dividend of CHF 1.50 per share approved
  • Remuneration Report 2022 and future remuneration of Board of Directors and Group Executive Committee formally accepted
  • All members of the Board of Directors who stood for re-election were elected
  • Thomas Oetterli newly appointed to the Board of Directors
  • KPMG newly elected as statutory auditors
  • Amendments to the Articles of Association approved

On April 20, 2023, 325 shareholders, who represent 66.2% of the share capital, attended the 132nd Annual General Meeting of Rieter Holding Ltd.

Dividend
The shareholders approved the proposal of the Board of Directors to distribute a dividend of CHF 1.50 per share. The dividend for the 2022 financial year will be paid on April 24, 2023.

Annual Report, Financial Statements, Consolidated Financial Statements and Remuneration Report
The shareholders also adopted all other motions proposed by the Board of Directors, namely approval of the annual report, financial and consolidated financial statements for 2022. Moreover, they formally approved the actions of the members of the Board of Directors and those of the Group Executive Committee in the year under review.

By way of a consultative vote, the shareholders also approved the Remuneration Report 2022.

Remuneration of the Members of the Board of Directors and the Group Executive Committee
In two separate binding votes, the proposed maximum total remuneration of the members of the Board of Directors and the Group Executive Committee for the 2024 financial year was approved.

Re-Election of the Members of the Board of Directors
The Chairman of the Board, Bernhard Jucker, and the Directors, Hans-Peter Schwald, Peter Spuhler, Roger Baillod, Carl Illi, Sarah Kreienbühl and Daniel Grieder were confirmed for a further one-year term of office. In addition, Thomas Oetterli was newly elected to the Board of Directors for a term of office.

The members of the Remuneration Committee who were standing for election –
Hans-Peter Schwald, Bernhard Jucker and Sarah Kreienbühl – were likewise re-elected for a one-year term of office.

Election of KPMG as Statutory Auditors
The shareholders also adopted the proposal of the Board of Directors to elect KPMG AG, Zurich, as new statutory auditors for the financial year beginning January 1, 2023.

Amendments to the Articles of Association
The shareholders further approved the proposals of the Board of Directors to amend the Articles of Association of Rieter Holding Ltd., in order to implement the requirements of the reform of the Swiss company law, which came into force on January 1, 2023.

Source:

Rieter Holding Ltd.

24.03.2023

adidas: FY Results of 2022 and Outlook for 2023

Major developments FY 2022

  • Currency-neutral revenues up 1% reflecting growth in all markets except Greater China
  • Double-digit increases in North America and Latin America, EMEA up high single digits
  • Gross margin declines to 47.3% due to strong increase in supply chain costs and discounting  
  • Operating profit at € 669 million, including one-off costs of € 312 million
  • Operating margin decreases to 3.0%  
  • Net income (continuing operations) of € 254 million includes € 350 million one-off costs
  • Executive and Supervisory Boards propose dividend of € 0.70 per share

Major developments Q4 2022

Major developments FY 2022

  • Currency-neutral revenues up 1% reflecting growth in all markets except Greater China
  • Double-digit increases in North America and Latin America, EMEA up high single digits
  • Gross margin declines to 47.3% due to strong increase in supply chain costs and discounting  
  • Operating profit at € 669 million, including one-off costs of € 312 million
  • Operating margin decreases to 3.0%  
  • Net income (continuing operations) of € 254 million includes € 350 million one-off costs
  • Executive and Supervisory Boards propose dividend of € 0.70 per share

Major developments Q4 2022

  • Currency-neutral revenues decline 1% impacted by termination of Yeezy partnership
  • Gross margin at 39.1% reflecting increased supply chain costs and higher discounting
  • Operating loss of € 724 million
  • Net loss from continuing operations of € 482 million

Outlook for 2023
Underlying operating profit expected to be around break-even level

In 2023, adidas expects currency-neutral revenues to decline at a high-single-digit rate as macroeconomic challenges and geopolitical tensions persist. Elevated recession risks in Europe and North America as well as uncertainty around the recovery in Greater China continue to exist. The company’s revenue development will also be impacted by the initiatives to significantly reduce high inventory levels. In addition, while the company continues to review future options for the utilization of its Yeezy inventory, the guidance already reflects the revenue loss of around € 1.2 billion from potentially not selling the existing stock. Accounting for the corresponding negative operating profit impact of around € 500 million, the company’s underlying operating profit is projected to be around the break-even level in 2023.

Reported operating loss of € 700 million projected
Should the company irrevocably decide not to repurpose any of the existing Yeezy product going forward, this would result in the potential write-off of the existing Yeezy inventory and would lower the company’s operating profit by an additional € 500 million this year. In addition, adidas expects one-off costs of up to € 200 million in 2023. These costs are part of a strategic review the company is currently conducting aimed at reigniting profitable growth as of 2024. If all these effects were to materialize, the company expects to report an operating loss of € 700 million in 2023.

Source:

adidas AG

24.03.2023

Autoneum: All proposals approved at Annual General Meeting 2023

At the Annual General Meeting of Autoneum Holding Ltd on 24th March 2023, a clear majority of the shareholders approved the introduction of a capital band in the amount of approximately CHF 100 million net proceeds to finance the acquisition of Borgers Automotive. The proposal to waive the payment of a dividend for the 2022 financial year in view of the lower net result was also approved. In addition, Board member Rainer Schmückle as well as CEO Matthias Holzammer were given a farewell.

221 shareholders attended today’s Annual General Meeting of Autoneum Holding Ltd in Winterthur. 66.48 percent of the share capital was represented.

The shareholders approved the Annual Report, the Annual Financial Statements and the Consolidated Financial Statements for 2022. The proposal of the Board of Directors to waive the payment of a dividend for the financial year 2022 due to the lower net result was also approved by the Annual General Meeting.

In addition, the shareholders of Autoneum Holding Ltd granted discharge to all members of the Group Executive Board and the Board of Directors by a large majority of votes.

At the Annual General Meeting of Autoneum Holding Ltd on 24th March 2023, a clear majority of the shareholders approved the introduction of a capital band in the amount of approximately CHF 100 million net proceeds to finance the acquisition of Borgers Automotive. The proposal to waive the payment of a dividend for the 2022 financial year in view of the lower net result was also approved. In addition, Board member Rainer Schmückle as well as CEO Matthias Holzammer were given a farewell.

221 shareholders attended today’s Annual General Meeting of Autoneum Holding Ltd in Winterthur. 66.48 percent of the share capital was represented.

The shareholders approved the Annual Report, the Annual Financial Statements and the Consolidated Financial Statements for 2022. The proposal of the Board of Directors to waive the payment of a dividend for the financial year 2022 due to the lower net result was also approved by the Annual General Meeting.

In addition, the shareholders of Autoneum Holding Ltd granted discharge to all members of the Group Executive Board and the Board of Directors by a large majority of votes.

Chairman Hans-Peter Schwald and the other members of the Board of Directors Liane Hirner, Norbert Indlekofer, Michael Pieper, Oliver Streuli and Ferdinand Stutz were confirmed in office for another year. Hans-Peter Schwald, Norbert Indlekofer, Ferdinand Stutz and Oliver Streuli were re-elected to the Compensation Committee.

The consultative vote on the 2022 remuneration report was approved by 85.55%. The proposals for the remuneration of the Board of Directors and the Group Executive Board for the 2023 financial year as well as the other proposals were also approved by a large majority.

With 99.03%, a clear majority of the shareholders approved a capital band authorizing a capital increase of approximately CHF 100 million net proceeds. The purpose of the capital increase is to partially finance the acquisition of the automotive business of the Borgers Group announced by Autoneum on January 9, 2023. The Annual General Meeting also approved the other proposals of the Board of Directors for partial amendments to the Articles of Association.

Rainer Schmückle did not stand for re-election. He had been Vice Chairman of the Board of Directors, Chairman of the Audit Committee and member of the Strategy and Sustainability Committee since Autoneum became independent in 2011. CEO Matthias Holzammer, who will leave Autoneum for family reasons, was also bid farewell.

At the same time, Hans-Peter Schwald welcomed the new CEO Eelco Spoelder, who will take over the management of the Group from Matthias Holzammer on March 27, 2023: "With Eelco Spoelder, Autoneum gains an accomplished leader with many years of experience in the automotive supply industry. At Faurecia and previously at Continental, Mr. Spoelder has successfully proven that he can ensure strategic continuity and operational excellence even in a difficult market environment. I and the other members of the Board of Directors warmly welcome Eelco Spoelder and look forward to our future cooperation."

Source:

Autoneum Holding AG

10.03.2023

ANDRITZ: Record figures for 2022

echnology Group ANDRITZ achieved in 2022 the best figures in its history for order intake, revenue, and operating result ( EBITA). ANDRITZ started the new business year with a record order backlog of around ten billion EUR. Together with strict cost and project management and the successful turnaround in the Metals business area with the German Schuler Group, that order backlog will form the basis for further growth and profitability increases in 2023. Subject to the approval by the Annual General Meeting, shareholders will benefit from the excellent business development with a significant dividend increase to 2.10 EUR (previous year: 1.65 EUR) per share.

The results of the business year 2022 in detail:

echnology Group ANDRITZ achieved in 2022 the best figures in its history for order intake, revenue, and operating result ( EBITA). ANDRITZ started the new business year with a record order backlog of around ten billion EUR. Together with strict cost and project management and the successful turnaround in the Metals business area with the German Schuler Group, that order backlog will form the basis for further growth and profitability increases in 2023. Subject to the approval by the Annual General Meeting, shareholders will benefit from the excellent business development with a significant dividend increase to 2.10 EUR (previous year: 1.65 EUR) per share.

The results of the business year 2022 in detail:

  • The order intake of 9,263.4 MEUR reached a record level and was thus significantly higher than the figure for the previous year (+17.6% compared to 2021: 7,879.7 MEUR). All four business areas contributed to the increase.
  • The order backlog as of the end of 2022 amounted to 9,976.5 MEUR and was thus significantly higher than the value for the previous year (+22.2% compared to 2021: 8,165.8 MEUR).
  • The revenue saw very favorable development during the 2022 business year and reached a new record level of 7,542.9 MEUR (+16.7% compared to 2021: 6,463.0 MEUR). All four business areas contributed to the increase in revenue.
  • The operating result (EBITA) increased slightly more than revenue and reached 648.5 MEUR, also a record level (+18.7% compared to 2021: 546.5 MEUR). All four business areas contributed to the increase in earnings. Profitability (EBITA margin) increased to 8.6% (2021: 8.5%).
  • The net income (including non-controlling interests) increased significantly compared to the previous year, amounting to 402.6 MEUR (+25.1% compared to 2021: 321.7 MEUR)

ANDRITZ expects to continue its profitable course of growth in the business year 2023 and anticipates an increase in both revenue and earnings compared to 2022.

More information:
Andritz financial year 2022
Source:

ANDRITZ AG

09.03.2023

Rieter AG closes financial year 2022 with record sales

  • Sales of CHF 1 510.9 million,
  • Order intake of CHF 1 157.3 million in 2022; order backlog of around CHF 1 540 million as of December 31, 2022
  • EBIT margin of 2.1%
  • Implementation of action plan to increase profitability ongoing
  • Dividend of CHF 1.50 per share proposed

With record sales of CHF 1 510.9 million, Rieter achieved an increase of 56% compared with the previous year (2021: CHF 969.2 million). In the second half of 2022, especially in the fourth quarter, the measures introduced to address material bottlenecks had a positive impact. Consequently, sales increased to CHF 890.3 million compared with the first six months (first half-year 2022: CHF 620.6 million).

  • Sales of CHF 1 510.9 million,
  • Order intake of CHF 1 157.3 million in 2022; order backlog of around CHF 1 540 million as of December 31, 2022
  • EBIT margin of 2.1%
  • Implementation of action plan to increase profitability ongoing
  • Dividend of CHF 1.50 per share proposed

With record sales of CHF 1 510.9 million, Rieter achieved an increase of 56% compared with the previous year (2021: CHF 969.2 million). In the second half of 2022, especially in the fourth quarter, the measures introduced to address material bottlenecks had a positive impact. Consequently, sales increased to CHF 890.3 million compared with the first six months (first half-year 2022: CHF 620.6 million).

Order intake was CHF 1 157.3 million in 2022 (2021: CHF 2 225.7 million) and thus remained at a high level thanks to the company’s technological lead and broad international presence. The market situation, especially in the second half of 2022, was characterized by investment restraint and below-average capacity utilization at spinning mills due to geopolitical uncertainties, rising financing costs, and consumer reticence in important markets.
The company had an order backlog of around CHF 1 540 million at the end of 2022, which thus extends into 2023 and 2024.

The profit at the EBIT level in the 2022 financial year was CHF 32.2 million (2021: CHF 47.6 million). The result was strongly influenced by substantial cost increases, which could only be offset in part through price increases or other remedial measures. In addition, to compensate for material shortages, expenses were incurred in connection with the development of alternative solutions, and in relation to the acquired businesses.

Completion of the Acquisition
Rieter consolidated the acquired automatic winding machine business with effect from April 1, 2022. This acquisition completes Rieter’s system offering in the largest market segment of ring and compact spinning, thus significantly strengthening the company’s market position.

Action Plan to Increase Profitability
Implementation of the action plan to increase profitability is ongoing. With regard to the margins for the order backlog, which remains high, the already implemented price increases in combination with a positive trend in costs, particularly in logistics, are having a favorable impact. In addition, progress was made in eliminating material bottlenecks and reducing expenses for the three acquired businesses.

Dividend
The Board of Directors proposes to the shareholders the distribution of a dividend of CHF 1.50 per share for 2022. This corresponds to a payout ratio of 56%.

Outlook
For the coming months, Rieter expects below-average demand for new equipment at first, with a revival expected in the second half of 2023 after ITMA, the leading trade fair in Milan (Italy). Rieter also believes that demand for consumables, wear & tear and spare parts will recover during 2023.
For the 2023 financial year, due to the high order backlog, Rieter anticipates sales in the order of magnitude of the previous year.
The realization of sales from the order backlog continues to be associated with risks in connection with the ongoing geopolitical uncertainties, rising financing costs, continuing bottlenecks in the supply chains, and possible, currently unforeseeable consequences of the earthquake in Türkiye in February 2023. Despite the price increases already implemented, further global cost increases continue to pose a risk to the growth of profitability. Rieter will specify the outlook in the 2023 semi-annual report.

Source:

Rieter Holding AG

26.10.2022

adidas completes second share buyback program in 2022

adidas has completed its second share buyback program this year. On March 1, 2022, the company had announced that it would launch another share buyback program in mid-March to return the cash proceeds from the Reebok divestiture to its shareholders. Between March 14, 2022, and October 10, 2022, the company bought back 8,978,138 shares for a total consideration of € 1.5 billion, corresponding to an average purchase price per share of € 167.07.

adidas has completed its second share buyback program this year. On March 1, 2022, the company had announced that it would launch another share buyback program in mid-March to return the cash proceeds from the Reebok divestiture to its shareholders. Between March 14, 2022, and October 10, 2022, the company bought back 8,978,138 shares for a total consideration of € 1.5 billion, corresponding to an average purchase price per share of € 167.07.

The decision to repurchase shares to return the cash proceeds from the Reebok divestiture came on top of the company’s regular buyback activities. In December 2021, adidas had launched a multi-year share buyback program under which the company plans to buy back shares in an amount of up to € 4 billion until 2025. The first tranche of this program was conducted in January and February of this year. During that period, the company bought back 4,156,558 shares for a total amount of € 1 billion, corresponding to an average purchase price per share of € 240.58. Taking into account both share buybacks adidas bought back 13,134,696 shares for a total amount of € 2.5 billion in 2022. Including the dividend payment of € 610 million in May, the company returned more than € 3.1 billion to its shareholders in 2022.

Strong cash returns are a key component of adidas strategy ‘Own the Game’. As part of this strategy, adidas plans to generate substantial cumulative free cash flow until 2025 and return the majority of it – between € 8 billion and € 9 billion – to its shareholders through regular dividend payments in a range of between 30% and 50% of net income from continuing operations, complemented by share buybacks. The € 1.5 billion share buyback program related to the divestiture of Reebok come in addition to these regular shareholder returns.

As previously announced, the company intends to cancel the majority of the shares repurchased as part of its buyback activities. As a result, adidas will cancel a total of 12,100,000 treasury shares in the upcoming weeks, reducing the share count and stock capital from 192,100,000 to 180,000,000.

Source:

adidas AG

20.10.2022

Akzo Nobel N.V. publishes results for Q3 2022

Highlights Grow & Deliver (compared with Q3 2021)

  • Revenue up 19% and 14% higher in constant currencies1, pricing up 13%
  • ROS2 at 6.4% (2021: 10.0%), resulting from lower volumes and higher raw material and freight costs, as well as inflation on operating expenses
  • Adjusted EBITDA at €283 million (2021: €325 million)
  • Q4 2022 adjusted operating income expected below €150 million

Highlights Q3 2022 (compared with Q3 2021)

Highlights Grow & Deliver (compared with Q3 2021)

  • Revenue up 19% and 14% higher in constant currencies1, pricing up 13%
  • ROS2 at 6.4% (2021: 10.0%), resulting from lower volumes and higher raw material and freight costs, as well as inflation on operating expenses
  • Adjusted EBITDA at €283 million (2021: €325 million)
  • Q4 2022 adjusted operating income expected below €150 million

Highlights Q3 2022 (compared with Q3 2021)

  • Pricing up 13%, offsetting the increase of raw material and other variable costs. Volumes 5% lower, mainly due to destocking in the distribution channels in Decorative Paints in Europe and in Performance Coatings, as well as lower market demand in China
  • Operating income at €168 million (2021: €226 million), includes €16 million negative impact from Identified items (2021: €15 million net negative impact) and €17 million negative from the retrospective hyperinflation impact of the first half-year of 2022. OPI margin 5.9% (2021: 9.4%)
  • Adjusted operating income3 at €184 million (2021: €241 million); excluding the retrospective impact of hyperinflation accounting at €201 million
  • Net cash from operating activities decreased to an inflow of €126 million (2021: inflow of €290 million)
  • Net income attributable to shareholders at €84 million (2021: €164 million)
  • EPS from total operations at €0.48 (2021: €0.89); adjusted EPS from continuing operations at €0.57 (2021: €0.93)
  • Interim dividend of €0.44 per share (2021: €0.44 per share)

AkzoNobel CEO, Thierry Vanlancker, commented: “Our €201 million adjusted operating income excluding the retrospective impact of hyperinflation accounting bring our Q3 results in line with the market update issued at the end of September. Sharply increased macro-economic uncertainties negatively impacted consumer confidence. This resulted in destocking across several distribution channels in decorative paints Europe and performance coatings, while the market in China was impacted by the ongoing zero COVID-19 policy. Thanks to the strong commitment of our teams, we continue to offset the impact of raw material and freight cost inflation with pricing. We’ve now delivered cumulative pricing of 22% over the last two years. The macro-economic turbulence is expected to continue well into next year. We’ve therefore decided to suspend our targets for 2023 and will provide further guidance when announcing our full-year 2022 results. In the meantime, we will continue to focus on our margin management and cost reduction initiatives.”

Source:

AkzoNobel

09.08.2022

Huntsman announces Agreement to sell Textile Effects Division

Huntsman Corporation (NYSE: HUN) announced it has entered into a definitive agreement to sell its Textile Effects division to Archroma, a portfolio company of SK Capital Partners.  The total enterprise value of the transaction is approximately $718 million, which includes the assumption of approximately $125 million in net underfunded pension liabilities as of December 31, 2021. The acquisition is being partially funded with preferred equity, of which Huntsman is taking up to $80 million, an amount SK Capital Partners will seek to syndicate prior to the transaction closing.

Over the last twelve months ending June 30, 2022, the Textile Effects division reported sales of $772 million and adjusted EBITDA of $94 million. Huntsman anticipates cash taxes on the transaction of approximately $50 million. Huntsman intends to report Textile Effects as discontinued operations beginning in the third quarter of 2022. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the first half of 2023.       

Peter Huntsman, Chairman, President, and CEO commented:

Huntsman Corporation (NYSE: HUN) announced it has entered into a definitive agreement to sell its Textile Effects division to Archroma, a portfolio company of SK Capital Partners.  The total enterprise value of the transaction is approximately $718 million, which includes the assumption of approximately $125 million in net underfunded pension liabilities as of December 31, 2021. The acquisition is being partially funded with preferred equity, of which Huntsman is taking up to $80 million, an amount SK Capital Partners will seek to syndicate prior to the transaction closing.

Over the last twelve months ending June 30, 2022, the Textile Effects division reported sales of $772 million and adjusted EBITDA of $94 million. Huntsman anticipates cash taxes on the transaction of approximately $50 million. Huntsman intends to report Textile Effects as discontinued operations beginning in the third quarter of 2022. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the first half of 2023.       

Peter Huntsman, Chairman, President, and CEO commented:

"Over the past seven months, we have conducted a comprehensive strategic review of our Textile Effects division, including detailed discussions with a wide range of relevant parties. After evaluating several different options and thoroughly reviewing prospective offers for the business, our Board of Directors decided that SK Capital would be a better owner of the business over the long-term than Huntsman and that the value they offered was in the best interests of our shareholders. After closing, Textile Effects will combine with SK Capital's Archroma business to create a world leader in textile chemicals and dyes, with a leadership in sustainability and innovation.

"We expect the cash proceeds from this divestiture to be deployed in-line with our current balanced capital allocation program which includes strategic investments and acquisitions to further strengthen our core businesses as well as returning cash to shareholders through both our dividend and share repurchase program."

22.06.2022

Lenzing AG revises its dividend policy

Minimum dividend of EUR 4.50 per share as of the 2023 financial year

Having concluded its strategy update, the Managing Board of Lenzing AG decided to revise its dividend policy today. This demonstrates Lenzing’s confidence in its ambitious growth plans and its ability to consistently providing attractive dividends to shareholders.

As of the 2023 financial year (with payment scheduled for 2024), Lenzing plans to pay an annual dividend of at least EUR 4.50 per share (adjusted for inflation for the years thereafter). The revised dividend policy is subject to the approval of the Supervisory Board.

The payment of the dividend in any year will be subject to the specific dividend proposals of the Managing Board and the Supervisory Board. These proposals may deviate from the new dividend policy if appropriate under the then prevailing circumstances and will be subject to the approval of the Annual General Meeting.

Minimum dividend of EUR 4.50 per share as of the 2023 financial year

Having concluded its strategy update, the Managing Board of Lenzing AG decided to revise its dividend policy today. This demonstrates Lenzing’s confidence in its ambitious growth plans and its ability to consistently providing attractive dividends to shareholders.

As of the 2023 financial year (with payment scheduled for 2024), Lenzing plans to pay an annual dividend of at least EUR 4.50 per share (adjusted for inflation for the years thereafter). The revised dividend policy is subject to the approval of the Supervisory Board.

The payment of the dividend in any year will be subject to the specific dividend proposals of the Managing Board and the Supervisory Board. These proposals may deviate from the new dividend policy if appropriate under the then prevailing circumstances and will be subject to the approval of the Annual General Meeting.

More information:
dividend Lenzing AG
Source:

Lenzing AG

26.04.2022

Lenzing Annual General Meeting approves all agenda items

  • Dividend of EUR 4.35 per share approved
  • Lenzing Supervisory Board reduced from ten to nine elected members
  • Dipl.-Bw. Peter Edelmann steps down from the Supervisory Board at his request
  • Cord Prinzhorn, MBA, elected Chairman of the Supervisory Board

The 78th Annual General Meeting of Lenzing AG on April 26, 2022, passed a resolution to pay a dividend of EUR 4.35 per share in accordance with the Managing Board’s profit distribution proposal, which had been approved by the Supervisory Board. As a consequence, the payment of the dividend amounts to a total of EUR 115,492,500. The payment will be made on May 03, 2022.

  • Dividend of EUR 4.35 per share approved
  • Lenzing Supervisory Board reduced from ten to nine elected members
  • Dipl.-Bw. Peter Edelmann steps down from the Supervisory Board at his request
  • Cord Prinzhorn, MBA, elected Chairman of the Supervisory Board

The 78th Annual General Meeting of Lenzing AG on April 26, 2022, passed a resolution to pay a dividend of EUR 4.35 per share in accordance with the Managing Board’s profit distribution proposal, which had been approved by the Supervisory Board. As a consequence, the payment of the dividend amounts to a total of EUR 115,492,500. The payment will be made on May 03, 2022.

The Annual General Meeting formally discharged the members of the Managing Board and the Supervisory Board from liability for the 2021 financial year, and set in advance the remuneration for the members of the Supervisory Board for the 2022 financial year. In addition, a vote was hold concerning the principles for the remuneration of the members of the Managing Board and the Supervisory Board (remuneration policy). The remuneration policy of Lenzing AG for the performance-based remuneration of the Managing Board is linked not only to financial performance criteria but also to non-financial sustainability criteria (ESG), which further promote the sustainable business strategy.

Elections to the Supervisory Board
Dipl.-Bw. Peter Edelmann stepped down from the Supervisory Board upon his own request, at the end of the Annual General Meeting. Mr. Edelmann has served as a member of the Supervisory Board since 2018 and as its Chairman since 2019, as well as on all committees of Lenzing AG.

The Annual General Meeting passed a resolution to extend the Supervisory Board mandates of Mag. Patrick Prügger (until the AGM that passes related resolutions concerning the 2022 financial year) and of Dr. Astrid Skala-Kuhmann (until the AGM that passes related resolutions concerning the 2025 financial year).

The Supervisory Board of Lenzing AG now consists of nine members elected by the AGM: Mag. Helmut Bernkopf, Dr. Christian Bruch, Dr. Stefan Fida, Dr. Markus Fürst, Dr. Franz Gasselsberger, Melody Harris-Jensbach, Cord Prinzhorn, MBA, Mag. Patrick Prügger and Dr. Astrid Skala-Kuhmann. Herbert Brauneis, Ing. Daniela Födinger, Helmut Kirchmair, Georg Liftinger und Johann Schernberger were appointed to the Supervisory Board by the Works Council.

At the constitutive Supervisory Board meeting following the AGM, Cord Prinzhorn, MBA, who had returned to the Supervisory Board after serving as CEO on an interim basis, was elected Chairman, and Dr. Stefan Fida was elected Deputy Chairman of the Supervisory Board.

Source:

Lenzing AG

22.04.2022

AkzoNobel shareholders approve final dividend at Annual General Meeting

Shareholders voted to approve the resolutions presented at AkzoNobel’s virtual Annual General Meeting (AGM), including a final dividend of €1.54 per share, on the 22nd of April 2022.

All shareholders were able to attend and vote virtually, while questions could be asked live during the meeting, in addition to those that had been submitted in advance.

CFO Maarten de Vries was reappointed as a member of the Board of Management for a second four-year term. Mr. Nils Smedegaard Andersen and Mr. Byron Grote were reappointed as members of the Supervisory Board. Mr. Andersen was reappointed for a second four-year term and will continue as Chairman of the Supervisory Board. Mr. Grote was reappointed for a third term of two years.

The nominations of Mrs. Ester Baiget and Mr. Hans van Bylen to the Supervisory Board were also approved by the shareholders.

Shareholders voted to approve the resolutions presented at AkzoNobel’s virtual Annual General Meeting (AGM), including a final dividend of €1.54 per share, on the 22nd of April 2022.

All shareholders were able to attend and vote virtually, while questions could be asked live during the meeting, in addition to those that had been submitted in advance.

CFO Maarten de Vries was reappointed as a member of the Board of Management for a second four-year term. Mr. Nils Smedegaard Andersen and Mr. Byron Grote were reappointed as members of the Supervisory Board. Mr. Andersen was reappointed for a second four-year term and will continue as Chairman of the Supervisory Board. Mr. Grote was reappointed for a third term of two years.

The nominations of Mrs. Ester Baiget and Mr. Hans van Bylen to the Supervisory Board were also approved by the shareholders.

More information:
AkzoNobel general meeting
Source:

AkzoNobel

21.04.2022

Tata Communications announces its results for the fourth quarter and the full financial year 22

Tata Communications, a global digital ecosystem enabler, announces its financial results for the quarter and full year ended 31st March 2022.

Consolidated financial highlights:

Tata Communications, a global digital ecosystem enabler, announces its financial results for the quarter and full year ended 31st March 2022.

Consolidated financial highlights:

  • Consolidated revenue for FY22 came in at INR 16,725 Crores (USD 2,244.9 Mn) and at INR 4,263 Crores (USD 567.0 Mn) for Q4 FY22
  • Most of the segments across Core Connectivity, Digital Platforms & Services, and Incubation services of Data business witnessed healthy growth:
    • Data business grew by 2.1% QoQ and 1.4% YoY
    • Within Digital Platforms, all segments except Collaboration witnessed double digit YoY growth and strong sequential growth
    • Core Connectivity witnessed a revenue growth of +0.5% QoQ and +1.4% YoY
    • Incubation portfolio grew by 49.1% QoQ and 67.6% YoY
  • Consolidated EBITDA stood at INR 4,227 Crores (USD 567.3 Mn); with margins in at 25.3%, expanding by 40 Bps YoY. For the quarter, margin came in at 24.5%
  • Consolidated PAT stood at INR 1,482 Crores (USD 198.9 Mn) as compared to a profit of INR 1,251 Crores (USD 168.4 Mn) in FY21, registering a growth of + 18.5% YoY
  • CAPEX for this year was INR 1,608 Crores (USD 216.9 Mn) as compared to INR 1,421 Crores (USD 191.4 Mn) in FY21; Free Cash Flow for FY22 was at INR 2,619 Crores (USD 345.6 Mn)

The Board has recommended a dividend of INR 20.7 per share as a result of the Company reporting strong profitability.

Source:

Tata Communications / Harvard Engage! Communications

07.04.2022

Rieter Annual General Meeting 2022

  • All motions approved

The Corona Virus also had an impact on the 131st Annual General Meeting of Rieter Holding Ltd., Winterthur, on Thursday, April 7, 2022.

Based on Article 27 of Regulation 3 on measures to combat the Corona Virus (COVID-19), the Board of Directors of Rieter Holding Ltd. decided that shareholders can exercise their voting rights exclusively by authorizing the independent proxy. Shareholders therefore could not attend the Annual General Meeting in person. The Annual General Meeting was held on the premises of Rieter Holding Ltd. at the company’s headquarters in Winterthur.

At the Annual General Meeting of Rieter Holding Ltd. on April 7, 2022, the independent proxy represented a total of 1 986 shareholders who hold 64.4% of the share capital.

The shareholders approved the proposal of the Board of Directors to distribute a dividend of CHF 4.00 per share. In addition, they approved the proposed maximum total amounts of the remuneration of the members of the Board of Directors and of the Group Executive Committee for fiscal year 2023.

  • All motions approved

The Corona Virus also had an impact on the 131st Annual General Meeting of Rieter Holding Ltd., Winterthur, on Thursday, April 7, 2022.

Based on Article 27 of Regulation 3 on measures to combat the Corona Virus (COVID-19), the Board of Directors of Rieter Holding Ltd. decided that shareholders can exercise their voting rights exclusively by authorizing the independent proxy. Shareholders therefore could not attend the Annual General Meeting in person. The Annual General Meeting was held on the premises of Rieter Holding Ltd. at the company’s headquarters in Winterthur.

At the Annual General Meeting of Rieter Holding Ltd. on April 7, 2022, the independent proxy represented a total of 1 986 shareholders who hold 64.4% of the share capital.

The shareholders approved the proposal of the Board of Directors to distribute a dividend of CHF 4.00 per share. In addition, they approved the proposed maximum total amounts of the remuneration of the members of the Board of Directors and of the Group Executive Committee for fiscal year 2023.

The Chairman of the Board, Bernhard Jucker, and the members of the Board of Directors Hans-Peter Schwald, Peter Spuhler, Roger Baillod and Carl Illi were confirmed for an additional one-year term of office. Sarah Kreienbühl and Daniel Grieder were newly elected to the Board of Directors for a one-year term of office.

Furthermore, Hans-Peter Schwald and Bernhard Jucker, the members of the Remuneration Committee who were standing for election, were also each re-elected for a one-year term of office. Sarah Kreienbühl was newly elected to the Remuneration Committee and is taking over the chair.

Shareholders also adopted all other motions proposed by the Board of Directors, namely the approval of the annual report, the financial statements and the consolidated financial statements for 2021, and formal approval of the actions of the members of the Board of Directors and those of the Group Executive Committee in the year under review. In addition, the authorized capital was extended for a further two years.

More information:
Rieter general meeting Spinnerei
Source:

Rieter Management AG

23.03.2022

Annual General Meeting approves dividend of CHF 1.50 per share

The shareholders of Autoneum Holding Ltd approved all proposals of the Board of Directors at today’s Annual General Meeting and agreed to the proposed dividend of CHF 1.50 per share. Norbert Indlekofer becomes a new member of the Compensation Committee following the previously announced departure of This E. Schneider.

In accordance with Ordinance 3 on Measures to Combat the Coronavirus (COVID-19), the Board of Directors of Autoneum Holding Ltd decided to hold the 2022 Annual General Meeting without the physical presence of the shareholders. For this reason, the Company asked them in advance to exercise their rights exclusively through the independent voting proxy. He represented 66.9% of a total of 4 672 363 shares.

The shareholders approved the Annual Report, the Annual Financial Statements and the Consolidated Financial Statements for 2021 as well as the proposed appropriation of available earnings. A dividend of CHF 1.50 per registered share will be paid out as of March 29, 2022. This corresponds to a distribution of around CHF 7 million, or around 30% of the consolidated profit attributable to Autoneum shareholders.

The shareholders of Autoneum Holding Ltd approved all proposals of the Board of Directors at today’s Annual General Meeting and agreed to the proposed dividend of CHF 1.50 per share. Norbert Indlekofer becomes a new member of the Compensation Committee following the previously announced departure of This E. Schneider.

In accordance with Ordinance 3 on Measures to Combat the Coronavirus (COVID-19), the Board of Directors of Autoneum Holding Ltd decided to hold the 2022 Annual General Meeting without the physical presence of the shareholders. For this reason, the Company asked them in advance to exercise their rights exclusively through the independent voting proxy. He represented 66.9% of a total of 4 672 363 shares.

The shareholders approved the Annual Report, the Annual Financial Statements and the Consolidated Financial Statements for 2021 as well as the proposed appropriation of available earnings. A dividend of CHF 1.50 per registered share will be paid out as of March 29, 2022. This corresponds to a distribution of around CHF 7 million, or around 30% of the consolidated profit attributable to Autoneum shareholders.

Hans-Peter Schwald, Chairman of the Board of Directors, emphasized in his video message that the return to profitability and the distribution of a dividend are to be viewed as a positive sign and a success, especially given the challenging environment. CEO Matthias Holzammer, for his part, indicated how important the corporate strategy is for the ongoing and future success of the Company and how it was implemented last year. In addition, he highlighted that through its own strengths Autoneum had managed to improve its operating result in all four regions and to position itself well for the future.

Chairman Hans-Peter Schwald and the other members of the Board of Directors Rainer Schmückle, Liane Hirner, Norbert Indlekofer, Michael Pieper, Oliver Streuli and Ferdinand Stutz were confirmed in office for another year. Hans-Peter Schwald, Ferdinand Stutz and Oliver Streuli were re-elected to the Compensation Committee. Newly elected to the Compensation Committee was Norbert Indlekofer.

Source:

Autoneum AG