ANNUAL SHAREHOLDERS’ MEETING 2011: FOLLOWING A STRONG FIRST QUARTER, WACKER EXPECTS FURTHER GROWTH
- EXECUTIVE AND SUPERVISORY BOARDS’ PROPOSALS ADOPTED BY LARGE MAJORITY OF SHAREHOLDERS.
- DIVIDEND FOR FISCAL 2010 IS €3.20
- 2011 SALES AND EARNINGS FORECAST REAFFIRMED
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Munich, May 18, 2011 – Following a strong first quarter, Wacker Chemie AG expects further sales and earnings gains for full-year 2011. Rudolf Staudigl, CEO of the Munich-based chemical company, underscored this point at WACKER’s 2011 Annual Shareholders’ Meeting. "WACKER is poised for further growth," he said. Staudigl reaffirmed the full-year forecast and said that sales should cross the €5-billion mark, and earnings before interest, taxes, depreciation and amortization (EBITDA) should exceed 2010’s €1.19 billion level.
Of 2010’s Group net income of €497.0 million (2009: €-74.5 million), WACKER is paying out a total of €159.0 million (2009: €59.6 million) to its shareholders. The dividend per dividend-entitled share is €3.20 (2009: €1.20). The Executive and Supervisory Boards’ other proposals were also adopted by large majorities.
Following a very good fiscal 2010, WACKER further increased both sales and earnings in Q1 2011. Sales at the Munich-based chemicals Group climbed 21 percent to €1.29 billion from January through March 2011 (Q1 2010: €1.07 billion) – primarily due to higher sales volumes. A positive market environment and strong customer demand fueled WACKER’s continued business growth. The sales gain was additionally supported by higher prices in some key product segments. EBITDA achieved even stronger growth, climbing to €351.0 million in Q1 2011 (Q1 2010: €253.7 million), up 38 percent.
"After a short lull, WACKER has resumed its growth trajectory," said CEO Rudolf Staudigl, addressing the company’s shareholders in Munich on Wednesday. "The broad economic recovery, spanning every industry, contributed substantially to our strong performance last year. Other factors were just as important, though. When demand slumped in 2009, we neither questioned our strategic course, nor did we abandon our sound core financial policies," the CEO underscored. According to Staudigl, the Group will continue its efforts this year to enhance cost structures, processes and competitiveness. He added that WACKER was optimistic about the future in light of steady strong customer demand.
Resolutions and Voting Results
At today’s Annual Shareholders’ Meeting, 42,786,609 voting shares were represented – 82.04 percent of all eligible shares (number of shares outstanding: 49,677,983). The voting results were as follows for agenda items 2 through 7:Topic 2: Resolution on the Appropriation of Net Retained Profit
The Executive and Supervisory Boards proposed that the net retained profit for fiscal 2010, amounting to €775.3 million, be appropriated as follows: €159.0 million to be paid as a dividend to shareholders, €139.8 million to be kept as retained earnings and €476.5 million to be carried forward to new account. The proposal was adopted. The result was:
- 42,772,448 Yes votes (99.99 percent)
- 2,324 No votes
Topic 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 2010 was adopted. The result was: - 42,687,373 Yes votes (99.85 percent) - 65,807 No votes Topic 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 2010 was adopted. The result was: - 42,681,899 Yes votes (99.84 percent) - 69,136 No votes Topic 5: Resolution on the Appointment of Auditor The Supervisory Board’s proposal to appoint KPMG AG as auditor for fiscal 2011 was adopted. The result was: - 41,873,201 Yes votes (97.90 percent) - 900,213 No votes Topic 6: Approval of the Profit-and-Loss Transfer Agreement between Wacker Chemie AG and Wacker-Chemie Achte Venture GmbH The Executive and Supervisory Boards’ proposal to approve the draft of the profit-and-loss transfer agreement between Wacker Chemie AG and Wacker-Chemie Achte Venture was adopted. The result was: - 41,973,165 Yes votes (98.13 percent) - 801,232 No votes Topic 7: Resolution on Changes to the Articles of Association
The Executive and Supervisory Boards’ proposal to rescind performance-related compensation for Supervisory Board members effective January 1, 2011 and, in turn, increase their fixed compensation and flat fees was adopted. The result was: - 40,970,987 Yes votes (95.79 percent) - 1,802,856 No votes
Information for editorial offices: All documents relating to Wacker Chemie AG’s 2011 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 2011 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.
Ytterligare information ges av:
Wacker Chemie AG, Media Relations & Information
Christof Bachmair
Tel 49 89 6279-1830, Fax 49 89 6279-1239
Företaget i överblick: WACKER är en globalt verksam kemikoncern med cirka 16 300 anställda och en årsomsättning på cirka 4,75 miljarder € (2010). WACKER har 26 produktionsanläggningar, 20 technical competence centers och 50 försäljningskontor över hela världen.
WACKER SILICONES Silikonoljor, silikonemulsioner, silikongummi och silikonhartser, silaner, pyrogena kiselsyror, termoplastiska silikonelastomerer
WACKER POLYMERS Polyvinylacetat- och vinylacetat-kopolymerer i form av dispersionspulver, dispersioner och fasthartser som bindemedel för byggkemiska produkter, färger, lim, lacker, putser och fiberdukar samt i polymera material baserade på återvinningsbara resurser.
WACKER BIOSOLUTIONS Bioteknologiska produkter såsom cyklodextriner, cysteiner och biologiska produkter liksom fiinkemikalier och PVAc fasta hartser
WACKER POLYSILICON Polysilicium för halvledar- och fotovoltaikindustrin
Siltronic Wafers av högrent silicium och enkristaller för halvledarkomponenter.