AUGSBURG, Germany, March 19, 2002 (PRIMEZONE) -- BOEWE SYSTEC AG (WKN 523 970) (GER:BSY), Augsburg, European market leader for high-performance inserting systems and associated services, has once again shown an outstanding upward trend in the group.
On the basis of the continued growth in the annual result, a meeting of the Supervisory Board of BOEWE SYSTEC AG on March 18, 2002 approved the proposal of the Board of Directors to increase the dividend for the seventh time in a row at the Annual General Meeting to be held on May 17, 2002. In addition to the Euro 0.20 increase in the dividend to Euro 1.20 per share, the proposal of the Board of Directors also includes a bonus of Euro 0.20 per share to celebrate the tenth anniversary of BOEWE SYSTEC becoming a listed company. This corresponds to a total payout of Euro 1.40 per share, compared with Euro 1.00 in the previous year.
In the financial year just passed the BOEWE SYSTEC Group met its sales target with Euro 220.2 million in line with its most recent forecast announced on December 6, 2001 to coincide with the German Mid Cap Conference. The anticipated result of Euro 15.0 million was exceeded, the final figure being Euro 15.3 million. BOEWE SYSTEC is therefore continuing to build on the growth of previous years. The sales and result figures represent new highs for the company for the eighth consecutive time.
At the same time, the company revealed that it intends to resign from its membership of SMAX. The quarterly reports to shareholders and financial analysts will of course continue as before.
The complete annual report for 2001 will be presented by the Board of Directors at the press conference on financial statements to be held on April 8, 2002 from 16.00 hrs in Munich.