EANS-News: SHW AG: Total dividend of EUR 4.00 per share intended
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Dividend Announcements/Distribution Aalen (euro adhoc) - Group sales[1] rise in fiscal year 2012 by 2.5 percent to EUR 325 million - Consolidated net income from EUR 17.0 million to EUR 46.1 million - Dividend proposal: Total dividend of EUR 4.00, thereof EUR 3.00 one-time special dividend - Group sales in first two months of 2013 almost at prior year's level Aalen, 11 March 2013. At its meeting today, the Supervisory Board of SHW AG, one of the leading suppliers of CO2-relevant pumps and engine components as well as brake discs, approved the consolidated financial statements for fiscal year 2012. Despite the 6.9 percent decline in vehicle production in Europe, the final figures reveal an increase in Group sales of 2.5 percent to EUR 325.4 million (previous year: EUR 317.3 million). Key factors in this rise were production start-ups and a significant increase in revenues from start-stop gearbox oil pumps. Consolidated net income amounted to EUR 46.1 million in 2012, compared to EUR 17.0 million in the previous year. This amount includes the net result from discontinued operations of EUR 31.9 million. As at 31 December 2012, the SHW Group had net cash amounting to EUR 19.6 million, representing a rise of EUR 28.3 million on the level of the previous year. This improvement was due to the proceeds of EUR 42.9 million from the sale of its stake in the Canadian STT Technologies Inc. This transaction also pushed up the equity ratio from 31.7 percent to 52.4 percent. Due to the company's performance and the solid balance sheet structure, the Management Board and Supervisory Board of SHW AG today decided to propose to the Shareholders' Meeting on 14 May 2013 the issue of a total dividend of EUR 4.00 per share. This includes a one-time special dividend of EUR 3.00 to enable shareholders to share in the proceeds of the sale of STT. Plans to outgrow market The new financial year got off to a good start for SHW. At the end of the first two months, Group sales, at EUR 54.1 million, had almost reached the previous year's level of EUR 55.2 million. The positive trend in CO2-optimising engine and gearbox oil pumps continued in the Pumps and Engine Components business segment, which generated EUR 39.7 million in sales (previous year: EUR 39.9 million). At 14.4 million, sales in the Brake Discs business segment were down roughly six percent on the previous year's EUR 15.3 million. It remains difficult to assess the impact of the sovereign debt crisis - particularly in the southern peripheral states of the eurozone - on vehicle production in Europe and on the trend in vehicle exports to North and South America and China respectively. However, given its planned production start-ups, SHW anticipates that it will outgrow the market in fiscal year 2013. Assuming that the order situation remains stable, the company expects to be able to achieve Group sales in fiscal year 2013 in the range from EUR 325 million to EUR 340 million. As a result of the planned production start-ups and shift of the product mix towards more complex pumps, the Pumps and Engine Components business segment should achieve sales in the range from EUR 235 million to EUR 250 million. The Brake Discs business segment aims to further increase the proportion of ready-to-install brake discs and higher-value composite brake discs to generate sales of around EUR 90 million. Assuming that the planned growth in sales is achieved, the company expects earnings before interest, taxes, depreciation and amortisation (EBITDA) to increase at both Group and business segment level. The company will publish details of the 2012 annual financial statements and report on 21 March 2013. -------------------------------------------------------------------------------- [1] Since the sale STT Technologies Inc., which was previously consolidated on a pro-rata basis, has been classified as "discontinued operation" as defined in IFRS 5. The prior year figures have been adjusted accordingly. About SHW The enterprise was established in 1365, making it one of the oldest industrial enterprises in Germany. Today, SHW AG is a leading automotive supplier with products that contribute substantially to a reduction of fuel consumption and consequently CO2 emissions. In its Pumps and Engine Components business segment, the SHW Group develops and produces pumps for passenger cars and truck and off- highway applications, e.g. trucks, agricultural and construction vehicles, stationary motors and wind power stations. The Brake Discs business segment develops and produces monobloc ventilated brake discs made of cast iron and lightweight brake discs made from a combination of an iron friction ring and an aluminium pot. Customers of the SHW Group include leading European and North American automobile manufacturers, manufacturers of commercial, construction and agricultural vehicles and other automotive suppliers. The SHW Group currently has four manufacturing sites in Germany, located in Bad Schussenried, Aalen- Wasseralfingen, Tuttlingen-Ludwigstal and Neuhausen ob Eck. With slightly more than 1,000 employees, the SHW Group generated sales from continuing operations in 2012 of EUR 325 million. Further information is available at: www.shw.de Future-oriented statements This press release contains certain future-oriented statements that are based upon current assumptions and forecasts made by the management of SHW AG. Various known and unknown risks, uncertainties and other factors may lead to the actual results, financial position, development or performance of the company deviating considerably from the appraisals specified here. The company assumes no obligation to update future-oriented statements of this nature or adapt them to future events or developments. Note This announcement does not constitute an offer to sell securities in the United States of America, Canada, Australia, Japan or any other jurisdictional territory where offers are subject to statutory restrictions. The securities named in this announcement may only be sold or offered for sale in the United States of America following their prior registration in accordance with the provisions of the version of the US Securities Act of 1933 currently in force (the "Securities Act") or, without prior registration, only on the basis of an exemption. Unless provided for by certain exceptions within the Securities Act, the securities named within this announcement may not be sold or offered for sale in Australia, Canada or Japan, nor may they be sold or offered for sale to or for account of residents of Australia, Canada or Japan. No registration of the offer or sale of the securities named in this announcement will take place, as stipulated by the relevant statutory provisions in Canada, Australia and Japan. There is no public solicitation to buy securities in the United States of America. Further inquiry note: Michael Schickling Head of Investor Relations & Corporate Communications SHW AG Telephone: +49 (0) 7361 502 462 Email: michael.schickling@shw.de end of announcement euro adhoc -------------------------------------------------------------------------------- company: SHW AG Wilhelmstrasse 67 D-73433 Aalen phone: +49 7361 502-1 FAX: +49 7361 502-674 mail: ir@shw.de WWW: http://www.shw.de sector: Automotive Equipment ISIN: DE000A1JBPV9 indexes: stockmarkets: free trade: Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English
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