The resolution to pay a dividend of €0.70 per share results in a total payout of €48.4 million. The payout ratio based on Group earnings after tax increased from 36% in the previous year to 44%. This puts it slightly above the range of 30% to 40% of earnings after tax that is provided for, in principle, by the dividend policy of the mechanical and plant engineering firm. Group earnings amounted to €110 million in the 2023 fiscal year, after €134 million in the previous year. The decline was not due to operational reasons but resulted from extraordinary expenses which, at €89 million, were higher than in the previous year.
“We thus remain true to our principle of paying our shareholders an attractive dividend based on the success of our operating business,” said Dr. Jochen Weyrauch, CEO of Dürr AG. In addition, the Dürr Group increased its free cash flow to nearly €130 million and therefore had sufficient scope to keep the payout consistent.
In his speech, Dürr CEO Weyrauch first paid tribute to the life's work of Heinz Dürr, who passed away last year at the age of 90: “Heinz Dürr embodied many things for the people within the company: promoter, visionary, anchor of stability, and role model. We therefore look back with gratitude, but we also look to the future with confidence: Heinz Dürr's entrepreneurial spirit lives on in the Dürr Group, giving us self-confidence as we navigate the era that follows this unique business figure.”
Looking back at the past fiscal year, Weyrauch emphasized that, despite a persistently challenging environment, the Group had achieved its operating targets, for which he thanked all employees: “This business success is based on the dedication of the 20,000-plus employees, who support our company and ensure our strong reputation with customers. The good operating performance in the past year and, therefore, also the dividend are down to the commitment of our employees.”
He also highlighted the acquisition of automation specialist BBS Automation in 2023 and emphasized the importance of new, fast-growing business fields for the company: “Our investments in automation, battery production, and timber house construction are investments in the future in the truest sense of the word. We are strengthening business areas that offer good long-term growth and earnings prospects since they are geared toward the major challenges of our time: e-mobility, climate protection, sustainable construction, and labor shortages.”
With 75% of the share capital present at the annual general meeting, the Board of Management was discharged from liability with 98% and the Supervisory Board with 98% of the votes. All other resolutions proposed by the company were also passed without exception. These included the reappointment of Deloitte GmbH Wirtschaftsprüfungsgesellschaft as the auditor for the 2024 fiscal year and the approval of the report on the remuneration of the Management Board and the Supervisory Board.
The voting results are available → here.
