Dürr AGM approves dividend of € 1.20 for record year 2011
Bietigheim-Bissingen, April 27, 2012 – At the Annual General Meeting today Dürr AG’s shareholders resolved to pay a dividend of € 1.20 per share for the 2011 fiscal year.
Addressing the 415 shareholders, CEO Ralf W. Dieter looked back over the record year 2011: “Dürr comfortably exceeded its targets and achieved the highest annual profit in its history. We want our shareholders to share appropriately in this success.” Dieter was also optimistic for the future: “The positive trend in sales revenues and incoming orders has continued as planned in the first quarter of 2012. We are very confident of achieving the growth in sales and earnings targeted for the full year 2012.” For 2012, the group is aiming for sales revenues in excess of € 2 billion and an EBIT margin of between 5.5% and 6%. Dürr already released preliminary figures for the first quarter on April 25, with sales revenues of € 562.4 million, incoming orders of € 679.1 million, and earnings before interest and tax of € 29.6 million. The full interim report for the first quarter of 2012 is due to be published on May 10.
The shareholders elected Klaus Eberhardt, Chairman of the Executive Board of Rheinmetall AG, as a new member of the Supervisory Board with a large majority. Klaus Eberhardt replaces Joachim Schielke, former member of the Board of Management of Landesbank Baden-Württemberg, who retired from the Supervisory Board after eleven years. Joachim Schielke’s position on the Supervisory Board’s Audit Committee is being assumed by Dr. Alexandra Dürr.
The AGM ratified the acts of the Board of Management and the Supervisory Board with a majority of more than 99%, respectively. Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft was appointed again as independent auditor. 68% of the capital was represented.
Dürr is a mechanical and plant engineering group that holds leading positions in the world market in its areas of operation. It generates a good 80% of its sales in business with the automotive industry. It also supplies the aircraft, machinery, chemical, and pharmaceutical industries with innovative production and environmental technology. The Dürr Group operates in the market with four divisions. Paint and Assembly Systems plans and builds paintshops and final assembly systems for the automobile industry. Application Technology provides automated paint application, sealing, and glueing with its robot technologies. Machinery and systems from the Measuring and Process Systems division are used in engine and transmission manufacturing and in final vehicle assembly, among other areas. The fourth division, Clean Technology Systems, is focused on processes to improve energy efficiency and on exhaust air purification. Dürr has 50 business locations in 23 countries worldwide and approximately 6,800 employees. The Group achieved sales of € 1.9 billion in 2011.