Uzin Utz Annual General Meeting votes for dividend increase
The shareholders of Uzin Utz AG approved the dividend proposal of the administration (board of directors and supervisory board) at the annual general meeting of the globally operating full-range supplier for flooring systems today. Up to 70 participants took part in the meeting, which was held virtually. The shareholders directed their questions about the current situation and the 2021 financial year to the Executive Board.
"We closed the 2021 financial year with a strong result despite a challenging environment. This enables us to once again pay our shareholders an attractive dividend of 1.80 euros (1.55 euros) per share. Thanks to the consistent strategic development of the past years, we are well positioned to meet the challenges ahead," said Heinz Leibundgut, member of the Executive Board. Uzin Utz recorded a 14.7 % increase in sales in the 2021 financial year compared to the previous year and closed with consolidated sales of €440.1 million (€383.6 million). At €47.5 million, earnings before interest and taxes (EBIT) in the Group were 18.5% higher than in the previous year (€40.1 million).
Significant decrease in earnings in the first quarter of 2022
The Uzin Utz Group has only been able to continue its successful course in the first quarter of 2022 in terms of sales. Consolidated sales in the first quarter amounted to €116.3 million (€104.6 million Q1/2021), which corresponds to an increase of 11.2% compared to the previous year. Earnings before interest and taxes (EBIT), however, fell significantly by 28.5 % from 12.0 million euros to 8.5 million euros.
The result is affected in particular by the significant price increases on the raw material markets, which have been further intensified by the war in Ukraine. In addition, higher energy and transport costs as well as uncertainties in the supply chains are increasing the negative effect on the result. These factors are expected to continue to influence the result situation in the further course of the business year. Due to the considerable economic and political uncertainties, the company does not provide a forecast for the rest of the year.
Robust positioning, strategy continues to be implemented
"The year 2022 will be difficult. We are operating in a very volatile environment. We are very concerned about the war in Ukraine. At the same time, like many other companies, we are also affected by rising material prices, increasing energy, transport and logistics costs and the increasing fragility of global supply chains," Philipp Utz, member of the Executive Board, said in his remarks. "We will do everything we can to minimise the impact on the Uzin Utz Group. Despite all the global challenges and uncertainties, we will continue to consistently implement our strategy. In doing so, we are aware of our strengths as a full-range supplier of flooring systems." On the occasion of the 111th anniversary of the group of companies, the complete corporate design of the group brands was changed. From now on, the more clearly visible affiliation to the umbrella brand Uzin Utz is intended to support the joint success of the group brands and create added value for customers.
People at the focus of corporate strategy
In addition to the topics of Planet, Profit, Products & Services, People are of particular importance in the implementation of the corporate strategy. As part of the Passion strategy, the company has set itself the goal of achieving a 90% recommendation rate by 2025. The last employee survey showed that 88% of the workforce in the core and growth countries would recommend Uzin Utz as an employer. A clear plan with milestones and measurable interim successes continues to be pursued in order to achieve the ambitious goals. One of the ongoing initiatives is to sharpen the values and culture within the company. "In an increasingly global business environment, it is important that the existing corporate culture is sharpened via empirical data and solidified on a common, international basis. The goal is a visible corporate culture shaped by our employees. Lived values and a common sense of direction form the company's backbone," says Julian Utz, member of the executive board and responsible for human resources.
Change of Uzin Utz AG into the company's legal form of a European Company (Societas Europaea, SE)
This year, Uzin Utz looks back on 111 years of company history. During this time, the company has gone through a development that was hardly thought possible. The strong growth in sales and earnings, the international expansion around the globe, the increase in the number of employees - all this would not have been possible without the conversion into a AG in 1997. The task now is to position the corporate group well for the coming years. Thus, with the approval of the Supervisory Board, the Board of Directors has decided to take the company to a new legal level and convert Uzin Utz AG into the legal form of a European Company (Societas Europaea, SE). "This legal form offers a number of advantages. It suits both our growing internationality and the activities of our group of companies and forms the legal basis for further expansion. The Societas Europaea supports us in maintaining our growth and investment course through its flexibility and even greater visibility on the capital markets," says Julian Utz.
For further information, please visit the Uzin Utz website at https://de.uzin-utz.com/investoren/finanzberichte.
UZIN UTZ. YOUR FLOOR. OUR PASSION.
UZIN UTZ from Ulm employs more 1,300 people and has a corporate group turnover of 383.6 million euros (2020). It is a leader in developing and manufacturing products and machinery for screeds, floors, tiles and wood flooring. The construction product systems we offer include substrate preparation and floor covering installation as well as surface finishing and cleaning. Our products are developed and manufactured in-house by companies in the group and marketed around the world under the internationally successful UZIN, WOLFF, PALLMANN, arturo, codex and Pajarito brands. For 111 years, as a family business, the world of floors has been our vocation. We have been there and continue to be there for the trade, architects and builders. More information at www.uzin-utz.com
Tanja PeterHead of Communication
Telephone: 0731 4097-4729