BERU AG: BERU's Annual Shareholders' Meeting Approves Dividend of EUR 0.83 for Short Financial Year 2005.LUDWIGSBURG, Germany -- BERU's Annual Shareholders' Meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. approves dividend of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 0.83 for short financial year 2005 At the 9th Annual General Meeting of BERU Aktiengesellschaft (FWB (Fixed Wireless Broadband) See fixed wireless. :BZL) held today at the Forum in Ludwigsburg, a dividend of EUR 0.83 per share was approved for short financial year 2005 (April 1 - December 31, 2005). The distribution ratio was 42.6% (FY 2004/05: 46.6%). The Executive Board Chairman of BERU AG , Marco von Maltzan, reported in his speech at the meeting on short financial year 2005 on BERU's ongoing growth strategy. The Group continued along its path of profitable growth in the reporting period. With sales revenues of EUR 305.8 million, the mark of EUR 300 million was surpassed for the first time in a nine-month period. BERU is Number 1 in the world for Diesel Cold-Start Technology. The Executive Board has the stated goal of further improving the Group's strong market position also in its divisions of Ignition Technology and Electronics and Sensor Technology. In view of BERU's solid financial position, the Executive Board is also reviewing opportunities for external growth. "Key technologies and market niches with strong growth have our full attention," commented Marco von Maltzan on the Group's growth strategy. Due to the startup of new products and additional efficiency improvements in BERU's international production network, the Executive Board is confident that the Company will successfully defend its position in a difficult market environment also in the year 2006. As a result of the positive business trend in the second quarter and the good outlook for the full year, the Executive Board has raised its revenue and earnings forecasts for the current financial year. "Assuming that the world economy and the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. develop in line with market forecasts, we anticipate sales revenues in 2006 at the upper end of the previous target corridor of EUR 425 million to EUR 435 million, and possibly even slightly higher. And we expect correspondingly higher earnings. In full-year 2006, BERU anticipates earnings before interest and taxes In financial and business accounting, earnings before interest and taxes (EBIT) is a measure of a firm's profitability that excludes interest and income tax expenses.[1] EBIT = Operating Revenue – Operating Expenses + Non-operating Income of at least EUR 52 million," stated Marco von Maltzan on BERU's organic growth targets. High attendance of 74.2% at the Annual Shareholders' Meeting Attended by nearly 300 shareholders and guests, 74.2% of the Company's capital stock was represented at the Annual Shareholders' Meeting (2005: 74.6%). The meeting approved the proposal on the appropriation of the balance-sheet profit with 99.8% of the votes cast. The actions of the members of the Executive Board and the members of the Supervisory Board Supervisory board The board of directors that represents stakeholders in the governance of the corporation. in short financial year 2005 were both ratified with 96.1% of the votes. With 96.8% of the votes, the meeting once again elected Bayerische Treuhandgesellschaft Aktiengesellschaft Wirtschaftsprufungsgesellschaft Steuerberatungsgesellschaft, of Munich, as the independent auditors Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. for the 2006 financial year. The other items of the agenda, which were mainly concerned with an amendment to the Articles of Incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the recommendations of the German Corporate Governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. Code and the provisions of the German Corporate Integrity and Modernization of the Right of Rescission Right of rescission The right to void a contract without any penalty within three days as provided in the Consumer Credit Protection Act of 1968. Act (UMAG), were approved in the form recommended by the management. Authorization to acquire own shares With 96.8% of the votes, the shareholders authorized the Company to purchase its own shares in a volume up to10% of the capital stock. The authorization is to be regarded as a contingent resolution, as no concrete plans currently exist to acquire own shares. The Company does not hold any of its own shares at present. The exact voting results on all the items of the agenda (including various amendments to the Articles of Incorporation) have been posted on BERU's website at www.beru.com.
Language: English
Issuer: BERU AG
Morikestr. 155
71636 Ludwigsburg Deutschland
Phone: +49 (0)7141 132-2 46
Fax: +49 (0)7141 132-5 86
email: investor-relations@beru.de
WWW: www.beru.de
ISIN: DE0005072102
WKN: 507210
indices:
Listed: Amtlicher Markt in Frankfurt (General Standard),
Stuttgart; Freiverkehr in Berlin-Bremen, Munchen,
Hamburg, Dusseldorf
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