Today, the supervisory board approved a resolution of HOMAG Group AG’s management board to propose to the annual general meeting on May 25, 2011 the payment of a dividend of EUR 0.30 per share for fiscal 2010. Following the HOMAG Group’s unprecedented decision not to pay its shareholders a dividend for 2009 owing to the negative results at that time, the Company now wants to distribute a large portion of its net profit. “With this high dividend rate, we want to give our shareholders an above-average slice of the successful year 2010,” CEO Rolf Knoll explains. Going forward, the Company intends to return to its past dividend policy.
The previously reported provisional figures for fiscal 2010 have also been confirmed. According to the final figures, the HOMAG Group’s sales revenue grew by 37 percent to EUR 718 million (prior year: EUR 524 million) and order intake picked up 31 percent to EUR 541 million (prior year: EUR 413 million). EBITDA before employee profit participation and before extraordinary expenses for restructuring/non-recurring expenses came to EUR 65.1 million (prior year: EUR 15.6 million), resulting in a net profit after non-controlling interests of EUR 6.7 million (prior year: a net loss of EUR 20.7 million). According to the Company’s management board, the HOMAG Group has also made a good start into the current fiscal year and its order intake for the first quarter of 2011 will exceed the prior-year level (EUR 166 million).
Disclaimers
This press release contains certain statements relating to the future. Future-oriented statements are all those statements that do not pertain to historical facts and events or expressions pertaining to the future such as “believes”, “estimates”, “assumes”, “forecasts”, “intend”, “may”, “will”, “should” or similar expressions. Such future-oriented statements are subject to risks and uncertainty since they relate to future events and are based on current assumptions of the company, which may not occur in the future or may not occur in the anticipated form. The company points out that such future-oriented statements do not guarantee the future; actual results including the financial position and the profitability of the HOMAG Group as well as the development of economic and regulatory framework conditions may deviate significantly (and prove unfavorable) from what is expressly or implicitly assumed or described in these statements. Even if the actual results of the HOMAG Group including the financial position and profitability as well as the economic and regulatory framework conditions should coincide with the future-oriented statements in this press release, it cannot be guaranteed that the same will hold true in the future.