SHW AG

EANS-News: SHW AG: Total dividend of EUR 4.00 per share intended


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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.

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[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 
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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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