Viscom AG: Executive Board resolves one-off dividend reduction to conserve liquidity

Hanover, 27 February 2024 – The Executive Board of Viscom AG (ISIN DE0007846867), today decided at its extraordinary meeting, following the conclusion of a company agreement on short-time work, to propose to the Annual General Meeting a significantly reduced dividend payment for the 2023 financial year compared to previous years.

The current difficult market outlook and geopolitical uncertainties are prompting Viscom AG to exercise caution in its liquidity management. Last year, cash and cash equivalents were already heavily burdened by the high cost of capital. Viscom AG also expects its customers, primarily electronics suppliers from the automotive sector, to be reluctant to invest in the first half of 2024. Viscom AG does not expect demand to pick up until the second half of the year.

Due to this situation, the Executive Board of Viscom AG concluded a works agreement with the Works Council today, which provides for the introduction of short-time working from 1 March 2024. In addition, material and investment costs are to be reviewed and savings realized. As part of this package of measures, the dividend is also to be reduced. The Executive Board today resolved to propose to the Annual General Meeting on 29 May 2024 the payment of a dividend of € 0.05 per dividend-bearing share for the 2023 financial year. The proposal to pay a reduced dividend for the 2023 financial year and to carry forward the remaining amount in full to new account is intended to ensure that Viscom AG's financial and liquidity position remains stable. The Group's fundamental dividend policy of distributing 50 % of consolidated net profit for the period remains unaffected.

The annual forecast for the 2023 financial year will be achieved. The final key financial and earnings figures for the 2023 financial year and the forecast outlook for 2024 will be published on 26 March 2024.

 

Contact:

Viscom AG
Investor Relations
Sandra M. Liedtke
Carl-Buderus-Str. 9-15
30455 Hannover
Tel.: +49-511-94996-791
Fax: +49-511-94996-555
[email protected]