EQS-News

Annual General Meeting of Schaeffler approves merger ofVitesco Technologies Group Aktiengesellschaft into Schaeffler AG - Seite 2

 

Integration preparations on track
The preparations for the integration of Vitesco into Schaeffler are already in full swing and are progressing according to plan. In his speech, CEO Klaus Rosenfeld reported to shareholders that an important milestone had been reached on March 14 of this year, with the establishment of the future organisational structure on the first level below the Board of Managing Directors and the Regional CEOs. The next phase of the integration process will now focus on the second management level, the development of the divisional and functional strategies and structures, as well as a joint business plan. These steps are of crucial importance to optimally prepare Schaeffler for the year 2025, which is expected to be the first fully integrated financial year of the newly shaped group.

Dividend of 45 eurocents per non-voting common share
With regard to the business performance of the previous year, Schaeffler once again succeeded in growing despite a challenging environment, Klaus Rosenfeld reported at the Annual General Meeting. The Automotive Technologies division recorded an order intake of over five billion euros in the field of e-mobility in 2023. Increasing global demand for repairs, driven by a growing and ageing vehicle fleet, has been a key driver for the positive revenue and earnings development of the Automotive Aftermarket division. In addition, despite challenging market and competitive conditions, the industrial division achieved remarkable results in some areas in 2023.

Against this backdrop, the Annual General Meeting approved a dividend of 45 eurocents per non-voting common share proposed by the Board of Managing Directors and the Supervisory Board. This represents a dividend payout ratio of 47.3 percent of net income attributable to shareholders before special items. In consultation with the Supervisory Board, the Board of Managing Directors had decided to raise the corridor for the annual dividend payout from the previous 30 to 50 percent to now 40 to 60 percent, so that shareholders will participate even more in the company’s profits in the future.