UZIN UTZ SE - Dividend of EUR 1.60 per share resolved
- Executive Board and Supervisory Board discharged
- First quarter of 2024: sales at previous year's level, previous year's earnings significantly exceeded
- Strategic goals remain in focus, despite challenges in construction
At today's Annual General Meeting of the full-service provider for flooring systems, the shareholders of Uzin Utz SE approved the actions of the members of the Management Board and Supervisory Board for the 2023 financial year. Another item on the agenda was the resolution on the dividend. The shareholders voted in favour of the dividend proposal of the Management Board and Supervisory Board by a large majority. Uzin Utz SE will thus distribute a total of around EUR 8.1 million or EUR 1.60 per share for the 2023 financial year.
'For the most part, we are satisfied with our business performance in 2023 in light of the challenging conditions. As we also expect headwinds for the 2024 financial year, it remains important to increase our resilience to external influences,' emphasised CFO Christian Richter. While sales revenue in 2023 totalled EUR 479.3 million and only just fell short of the previous year's high level (EUR 487.1 million), the decline in earnings was sharper at 5.1% to EUR 34.5 million (EUR 36.3 million).
Increase in earnings in the first quarter of 2024
In terms of sales, the trend that had already been observed since the second quarter of 2023 continued in the first quarter of 2024. The decline in sales in the core countries was largely responsible for the fact that at EUR 120.0 million, sales were 1.0% below the high level of the previous year (EUR 121.2 million). Despite the decline in sales, Uzin Utz can look back on a successful first quarter in terms of earnings. At EUR 9.5 million, earnings before interest and taxes (EBIT) were 20.0% higher than in the previous year (EUR 7.9 million). This was mainly due to the lower cost of materials ratio (Q1 2024: 42.9%, Q1 2023: 46.5%), which for the first time since 2021 was back at the level corresponding to the medium-term historical view. Strategically, Uzin Utz is in the profit year and the course set is reflected in the development of earnings.
'Despite the ongoing global uncertainties, we have made decisions that will strengthen our earning power. We remain firmly committed to pursuing our strategic goals and staying our course,' says Philipp Utz, member of the Executive Board. 'Our commitment to long-term growth and stability is unwavering and our goals continue to navigate us through challenging times,' adds his brother Julian Utz, also a member of the Management Board.
Dr H. Werner Utz is confirmed in office
Dr Utz, who has been a member of the Supervisory Board since 2016 and is Chairman of the Board and a member of the Personnel Committee, was re-elected to the Supervisory Board. His term of office was extended by the election until the Annual General Meeting, which decides on the discharge of the Supervisory Board for the 2027 financial year. 'I am pleased about the trust placed in me by the shareholders and the continued trusting cooperation with my colleagues on the Supervisory Board and the Executive Board team of Uzin Utz SE,' said Dr H. Werner Utz.
Outlook 2024
In view of the course of business to date and the current assessment of future developments, Uzin Utz is once again facing challenges in the current financial year. Macroeconomic factors, which are burdening economic growth, are continuing. In addition, uncertainty is increasing due to geopolitical tensions. Nevertheless, slight sales growth is expected compared to the 2023 financial year. The reasons for this assumption include growth potential in the areas of the construction industry, where Uzin Utz's strengths lie. Group-wide defined starting points for optimising profitability contribute to the fact that a slight increase in earnings is also expected.
The most important voting results at a glance:
Dividend per share: EUR 1.60
Total dividend payout: EUR 8,070,910.40
Discharge of the Executive Board:96.86 %
UZIN UTZ. YOUR FLOOR. OUR PASSION.
With around 1,500 employees and group sales revenues of EUR 479.3 million (2023), UZIN UTZ, the full-service provider for flooring systems based in Ulm, is a leader in the development and manufacture of products and machines for screed, flooring, tiles and parquet. The construction chemical product systems for substrate preparation, laying floor coverings and surface finishing as well as machines and tools for floor and wall finishing are almost all developed and manufactured by the group companies themselves and sold worldwide under the internationally successful brands UZIN, WOLFF, PALLMANN, arturo, codex and Pajarito. As a family business, we have made the world of flooring our vocation for 113 years and support craftsmen, planners, architects and building owners. Further information can be found at www.uzin-utz.
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Uzin Utz SE published this content on 22 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 May 2024 06:22:05 UTC.
