EMMI AG Medie Release
General Meeting of Emmi AG
All proposals approved - dividend of CHF 10.00 confirmed
Lucerne, 12 April 2018 - At today's General Meeting in Lucerne, the shareholders of Emmi AG approved all the proposals put forward by the Board of Directors. The meeting was attended by 1'384 shareholders, representing 4'262'551 of registered shares or 79.68 % of the share capital.
Konrad Graber, Chairman of the Board of Directors of Emmi AG, chaired the General Meeting at which all proposals of the Board of Directors were approved. The Annual Report, the Consolidated Financial Statements and the 2017 Financial Statements of Emmi AG were approved, and discharge was granted to the members of the Board of Directors for their services during financial year 2017 (agenda items 1 and 2).
Dividend distribution
The shareholders approved the distribution of a dividend of CHF 10.00 per registered share (previous year: CHF 5.90), made up of CHF 7.00 from the capital contribution reserves (exempt from withholding tax) and CHF 3.00 from retained earnings (agenda item 3). This will be distributed on 18 April 2018.
Approval of the total amount of remuneration
The total amount of remuneration was also approved (agenda item 4). The shareholders thus approved the maximum fixed remuneration of the Board of Directors (CHF 940,000) and the Agricultural Council (CHF 36,000) for financial year 2018, the maximum fixed remuneration of Group Management for financial year 2019 (CHF 5,400,000) and the definitive variable remuneration of Group Management for financial year 2017 (CHF 930,000).
- Please consult the compensation report in the Annual Report 2017 online
Elections
The shareholders approved the proposals of the Board of Directors regarding all items concerning election to the Board of Directors (agenda item 5). The seven members of the Board of Directors who stood for re-election were thus individually re-elected. Stephan Baer and Josef Schmidli decided not to stand for re-election after 19 and 15 years of service respectively on Emmi's Board of Directors. They are succeeded by Christina Johansson (52) and Alexandra Post Quillet (50).
- For further information see the media release dated 26 January 201
The General Meeting also confirmed Konrad Graber as Chairman of the Board of Directors. The shareholders also approved the individual election of Konrad Graber, Thomas Oehen-Bühlmann and Monique Bourquin to the Personnel and Compensation Committee. The statutory auditor for financial year 2018 (as previously: KPMG AG, Lucerne) and the independent proxy (as previously: Pascal Engelberger, lawyer, Burger & Müller, Lucerne) were appointed under agenda items 6 and 7 respectively - also in accordance with the proposal of the Board of Directors. Confirmation of outlook for 2018 Konrad Graber, Chairman of the Board of Directors, confirmed the outlook for 2018 first published in March: "The focus remains on returning to growth and securing long-term organic growth. We will achieve this by strengthening our best known branded products, adding innovative new products to our ranges and seeking out suitable new channels and markets."
The company also confirmed the forecasts for organic sales growth and earnings in financial year 2018 first published in March:
- Group: | 1.5 % to 3 % |
- Business division Switzerland: | 0 % to 0.5 % |
- Business division Americas: | 4 % to 6 % |
- Business division Europe: | 1 % to 3 % |
- EBIT: | CHF 205 million to CHF 215 million |
- Net profit margin: | 4.5 % to 5.0 % |
- For further information see the media release dated 5 March 2018
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