AUGSBURG, Germany, May 17, 2002 (PRIMEZONE) -- BOWE SYSTEC AG:
-- 2001 ends with record figures and dividend increase
-- Authorisation for share buy-back
At today's Annual General Meeting of the European market leader in professional paper management systems, the Board reported to the shareholders on the eighth consecutive improvement in results. In the 2001 financial year consolidated sales rose by 1.5% to EUR 220.2 million, the consolidated annual surplus by 9.5% to EUR 15.3 million. For the seventh time in succession the dividend was increased. The payout for 2001 is EUR 1.20 plus a bonus of EUR 0.20.
After the conclusion of the first quarter of the 2002 financial year the result from ordinary activities remained unchanged over the previous year at EUR 3.3 million despite a decline in sales. Earnings after taxes were also at the same level as the previous year at EUR 1.8 million. With sales of EUR 44.4 million, compared to EUR 48.1 million in the first three months of 2001, BOWE SYSTEC was also affected by developments in the global economy. The sales volume was, however, the second-highest figure ever for the first quarter of a year in the company's history.
The shareholders of BOWE SYSTEC AG voted by clear majorities to approve the proposed dividend increase, the discharge of the Board and Supervisory Board and the renewal of the authorisation to increase the capital. The shareholders of BOWE SYSTEC also authorised the company to repurchase its own shares. Accordingly, the company is entitled to purchase up to a maximum of 10% of the share capital up until 16th November 2003. These shares can be redeemed or subsequently sold (e.g. for acquisitions). This decision creates additional flexibility, which will result in benefits for the Company and it`s shareholders.
Detailed address by the Board on the Internet http://www.boewe-systec.de
Additional dates
Payment of dividend: 21st May 2002
Publication of half year report: 30th July 2002