Bietigheim-Bissingen, March 21, 2019 – Dürr AG proposes a dividend of € 1.00 per share for fiscal 2018. The mechanical and plant engineering firm paid € 1.10 in the previous year. The reason for the dividend adjustment is that earnings after tax declined by 18.1 % in 2018, mainly due to high extraordinary expenses. The dividend proposal for the annual general meeting on May 10, 2019, was approved by the Supervisory Board today. In addition, the Supervisory Board has extended Dr. Jochen Weyrauch’s appointment as a member of the Dürr AG Board of Management until the end of 2024.
The earnings of the Dürr Group (€ 163.5 million after tax) were affected by extraordinary expenses amounting to € 41.4 million in 2018. These were mainly attributable to optimization measures designed to boost earnings and tap new growth potential. Among the measures are the FOCUS 2.0 optimization program, the discontinuation of the micro gas turbine business, and the acquisition of Megtec/Universal.
Ralf W. Dieter, CEO of Dürr AG: “We see the extraordinary expenses relating to the optimization measures as an investment in the future, which will lead to a sustained improvement in earnings from 2019 onward. Accordingly, the dividend is set to increase again in the coming year.”
The total payout amounts to € 69.2 million this year. The payout ratio, at 42 % of consolidated net profit, is higher than in the previous years; it usually ranges between 30 and 40 %. It must be borne in mind that the number of shares doubled to 69.2 million as a result of bonus shares being issued in a ratio of 1:1 in June 2018. This is why the previous year’s dividend is shown as € 1.10 per share as opposed to € 2.20.
Profit-sharing bonus for employees in Germany
The full-time pay-scale employees of the Dürr and Schenck sub-groups will receive a profit-sharing bonus of € 2,250 this year (previous year: € 2,750). At the HOMAG Group, which achieved record earnings in 2018, the bonus remains unchanged at € 2,750.
Dr. Jochen Weyrauch: Board management contract extended until the end of 2024
Dr. Jochen Weyrauch’s Board of Management appointment has been extended by five years until December 31, 2024. Dr. Jochen Weyrauch has been a member of Dürr’s four-strong Board of Management since the beginning of 2017. He is responsible for the business of the Paint and Final Assembly Systems, Application Technology, and Clean Technology Systems divisions as well as for the Corporate Development and Information Technology functions.