Linz. 21.05.2019. The shareholders of S&T AG (www.snt.at) passed at today’s Annual General Meeting all the resolutions proposed by the company’s management. These included the increase of the dividend to EUR 0.16 (PY: EUR 0.13). This increase was based on the record results achieved in financial year 2018. Revenues grew in 2018 by 12% to EUR 990.9 million (PY: EUR 882.0 million), with the rise in EBITDA outpacing that. It jumped 33% to EUR 90.5 million (PY: EUR 68.1 million). Net income surpassed that strong result, increasing by more than 60% to EUR 48.5 million (PY: EUR 29.4 million). Represented at the Annual General Meeting – the 20th in S&T AG’s history – was some 60% of the company’s share capital.
Confirmation of the forecast for 2019 and of the objectives set for 2023
Good news have accompanied S&T AG’s first few months in financial year 2019. In the year’s first quarter, the company set corporate records for new design wins and for the securing of customers. The Executive Board has confirmed the forecasts that it had made for financial year 2019 and, as well, the objectives set for the period extending until 2023. S&T plans to realize in 2019 revenues of EUR 1.1 billion and profits (EBITDA) of more than EUR 100 million. These figures do not include the effects of potential acquisitions. The company’s “Agenda 2023” foresees the doubling of revenues to EUR 2 billion, and, as well, a substantial a rise in profitability (EBITDA).
Dr. Erhard F. Grossnigg and Max Lee elected to the Supervisory Board
The Annual General Meeting re-elected Dr. F. Erhard Grossnigg to the Supervisory Board. Mr. Max Lee was elected to be a replacement member of this body. At the constituent meeting of the Supervisory Board held subsequent to the Annual General Meeting, Dr. Grossnigg was elected its Chairman. Mr. Lee, who was the sole replacement member, became a member of this body upon Mr. Hans Tsao’s relinquishment of his membership on this board. In further moves, Mr. Chwatal M.A. was elected Deputy Chairman of the Supervisory Board, and a committee for the nomination and remuneration of the body’s members was set up with three members each. With Dr. F. Grossnigg and Mr. Chwatal M.A. as members, these committees are represented by a majority of independent representatives respectively.
The dividend will be paid out on May 29, 2019. It will take the form of a credit issued to the banks maintaining the shareholders’ accounts of security deposit. Ex-dividend date is May 27, 2019. Of the dividend, EUR 0.07 per share constitutes a repayment of investment for purposes of Austria’s income tax accounting. This is in accordance with § 4 paragraph 12 of Austria’s Income Tax Act (EStG). The remaining EUR 0.09 of the total dividend of EUR 0.16 is comprised – from the taxation point of view – of a consumption of the net income. The corresponding tax on capital earnings imposed by Austria‘s tax codes is withheld by the company and then transferred to the tax authorities responsible. To brief its shareholders on possible reimbursements of taxes on earnings on capital, S&T AG has published a manual and uploaded it on its website. The manual and the results of the votes made at the Annual General Meeting are retrievable at https://ir.snt.at/ and at https://ir.snt.at/Hauptversammlung.de.html.