EANS-News: Annual Shareholders' Meeting 2012: WACKER Expects Continued Strong Customer Demand in Q2 2012
16.05.2012 – 14:58
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Annual & Special Corporate Meetings Subtitle: - Executive and Supervisory Boards proposals adopted by large majority of shareholders - Dividend for fiscal 2011 is 2.20 - 2012 sales and earnings forecast reaffirmed Munich (euro adhoc) - May 16, 2012 - Following volume gains in the first three months of 2012, Wacker Chemie AG expects strong demand to continue in the second quarter of 2012. Rudolf Staudigl, CEO of the Munich-based chemical company, underscored this point at WACKER's 2012 Annual Shareholders' Meeting. "Polysilicon demand remains high and Siltronic plans to generate positive EBITDA," he said. In Q1 2012, WACKER's sales and earnings figures were markedly better compared to Q4 2011. Staudigl reaffirmed the full-year forecast. He said that sales should reach some EUR5 billion, and earnings before interest, taxes, depreciation and amortization (EBITDA) would probably be significantly below 2011's level (EUR1.1 billion) due to lower year-over-year polysilicon prices. Of 2011's Group net income of EUR356.1 million (2010: EUR497.0 million), WACKER is paying out a total of EUR109.3 million (2010: EUR159.0 million) to its shareholders. The dividend per dividend-entitled share is EUR2.20 (2011: EUR3.20). The Executive and Supervisory Boards' other proposals were also adopted by large majorities. Resolutions and Voting Results At today's Annual Shareholders' Meeting, 38,271,646 voting shares were represented - 73.38 percent of all eligible shares (number of shares outstanding: 49,677,983). The voting results were as follows for agenda items 2 through 5: Topic 2: Resolution on the Appropriation of Net Retained Profit The Executive and Supervisory Boards proposed that the net retained profit for fiscal 2011, amounting to EUR978.7 million, be appropriated as follows: EUR109.3 million to be paid as a dividend to shareholders, EUR230.0 million to be kept as retained earnings and EUR639.4 million to be carried forward to new account. The proposal was adopted. The result was: - 37,270,730 Yes votes (97.79 percent) - 842,694 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 2011 was adopted. The result was: - 37,237,291 Yes votes (99.94 percent) - 21,615 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 2011 was adopted. The result was: - 37,077,428 Yes votes (99.60 percent) - 148,700 No votes Topic 5: Resolution on the Appointment of the Auditor The Supervisory Board's proposal to appoint KPMG AG as auditor for fiscal 2012 was adopted. The result was: - 37,291,266 Yes votes (99.97 percent) - 10,749 No votes Information for editorial offices: All documents relating to Wacker Chemie AG's 2012 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 2012 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 the forward-looking statements, nor does it assume the obligation to do so. Further inquiry note: Christof Bachmair Media Relations & Information Tel.: +49 (0)89 6279 1830 E-Mail: christof.bachmair@wacker.com end of announcement euro adhoc -------------------------------------------------------------------------------- company: Wacker Chemie AG Hanns-Seidel-Platz 4 D-81737 München phone: +49 (0) 89 6279 01 FAX: +49 (0) 89 6279 1770 mail: info@wacker.com WWW: http://www.wacker.com sector: Chemicals ISIN: DE000WCH8881 indexes: MDAX, CDAX, Prime All Share stockmarkets: free trade: Hannover, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing: Berlin, regulated dealing/prime standard: Frankfurt language: English
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