General Meeting of Emmi AG

All proposals approved – CHF4.90 dividend confirmed


 

 

Media release

 

General Meeting of Emmi AG

 

 

 

 

 

All proposals approved – CHF 4.90 dividend confirmed

 

 

 

 

 

Lucerne, 21 April 2016 – At today’s General Meeting in Lucerne, the shareholders of Emmi AG approved all the proposals put forward by the Board of Directors. The meeting was attended by 1188 shareholders, representing 4418296 of registered shares or 82.59 % of the share capital.

 

 

 

Konrad Graber, Chairman of the Board of Directors of Emmi AG, chaired the General Meeting at which all proposals of the Board of Directors were approved. The Management Report, the Consolidated Financial Statements and the 2015 Financial Statements of Emmi AG were approved and the members of the Board of Directors discharged (agenda items 1 and 2).

 

 

Dividend distribution

 

The shareholders approved the distribution of a dividend (exempt from withholding tax) of CHF 4.90 per registered share (previous year: CHF 3.80) from the capital contribution reserves (agenda item 3). This will be distributed on 27 April 2016.

 

 

Approval of the total amount of remuneration

 

The total amount of remuneration was also approved (agenda item 4). Furthermore, shareholders approved the maximum fixed remuneration of the Board of Directors and the Agricultural Council for financial year 2016, the maximum fixed remuneration of Group Management for financial year 2017 and the variable remuneration of Group Management for financial year 2015.

 

 

Elections

 

The shareholders approved the proposals of the Board of Directors regarding all items concerning election to the Board of Directors (agenda item 5). All Board members were individually re-elected. Konrad Graber was also confirmed as the Chairman of the Board of Directors. The shareholders also approved the individual election of Konrad Graber, Stephan Baer and Thomas Oehen-Bühlmann to the Personnel and Compensation Committee.

 

The General Meeting voted on the statutory auditor (as previously: KPMG AG, Lucerne; agenda item 6) and the independent proxy (as previously: Pascal Engelberger, lawyer, Burger & Müller, Lucerne; agenda item 7), again in line with the proposals of the Board of Directors.

 

 

Confirmation of outlook for 2016

 

Konrad Graber, Chairman of Emmi’s Board of Directors, confirmed the 2016 outlook published in March: “The strong Swiss franc continues to have a big impact on our business. Pressure will remain high, especially in Switzerland, but the international markets will have a stabilising role. I am therefore confident that Emmi will be able to hold its own also in financial year 2016.”

 

The company also confirmed its March forecasts for organic sales growth and income in 2016:

-       Group:                                               0 % to 1 %

-       Business division Switzerland:          -4 % to -2 %

-       Business division Americas:              5 % to 7 %

-       Business division Europe:                 1 % to 3 %

-       EBIT:                                                  CHF 180 million to CHF 190 million

-       Net profit margin:                               just above 3 %

 

 

 

 

 

 

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