- Dividend of €0.15 per share approved
- DEUTZ is well placed for further growth
Cologne, April 28, 2022 – At today’s virtual Annual General Meeting in Cologne, the shareholders of DEUTZ AG approved the Board of Management and Supervisory Board’s proposal to pay a dividend of €0.15 per share for 2021. This equates to an above-average payout of around 47 percent of net income, whereas no dividend had been paid for the two previous years. Because the Company intends to fund its capital expenditure predominantly from the capital at its disposal, it will revert to its fundamental policy of paying a dividend of around 30 percent in the future. A total of around 50 percent of the Company’s issued capital with voting rights was represented at the Annual General Meeting.
DEUTZ CEO Dr. Sebastian C. Schulte: “2021 was a successful year for us, and we made significant progress. However, the EBIT margin before exceptional items of 2.3 percent is only a first step back in the right direction. We cannot rest on our laurels. If we are to generate further profitable growth, we must – and we will – put our foot even further to the floor.”
Dr. Dietmar Voggenreiter, who has been chairman of the Supervisory Board of DEUTZ AG since February 12, added: “In 2021, DEUTZ created a strong basis for sustainable growth. The Board of Management team under the new CEO Sebastian Schulte will further delineate DEUTZ’s strategy and push ahead with the transformation in a profitable manner. We realize that our shareholders have clear expectations.”
The Company’s overarching objective remains clear: to be the world’s leading manufacturer of innovative drive technologies and a pioneer of carbon-neutral solutions for off-highway applications. In his speech, Schulte emphasized that DEUTZ is in a good starting position. The foundations for further growth have been laid with strategic partnerships, further internationalization, ongoing expansion of the profitable service business, and the broadening of the portfolio of alternative drives, which has already begun.
DEUTZ has initiated a multi-phase strategy process aimed at increasing its profitability. The Company will present the specific targets for this process and how it plans to achieve them when it publishes its results for the first half of 2022. As a first step, the drive systems specialist is focusing primarily on making its Classic business more profitable. DEUTZ has an action plan in place to achieve this, including adhering firmly to the existing cost-reduction measures, revising the pricing structure for the new engine business and, at the same time, optimizing the engine portfolio.
Detailed information about the virtual Annual General Meeting and the results of the voting on the individual agenda items are available on the DEUTZ website at www.deutz.com/en/investor-relations/annual-general-meeting/2022/.
Upcoming financial dates
May 5, 2022: Quarterly statement for the first quarter of 2022
August 11, 2022: Interim report for the first half of 2022
November 10, 2022: Quarterly statement for the first to third quarter of 2022