Annual General Meeting of Uzin Utz SE

• Dividend of 1.60 Euro per share approved
• Changes in the Supervisory Board
• Executive Board and Supervisory Board discharged
• First quarter of 2023 with decline in earnings compared to previous year
• Targets remain in focus, despite challenges in construction

Ulm, 16 May 2023 - At today's Annual General Meeting of the full-range supplier of flooring systems, the shareholders of Uzin Utz SE approved the actions of the members of the Board and the Supervisory Board for the 2022 financial year. Another item on the agenda was the resolution on the dividend. With a large majority, the shareholders voted in favour of the dividend proposal of the Board and Supervisory Board. Uzin Utz SE will thus distribute a total of around EUR 8.1 million or EUR 1.60 per share for the 2022 financial year.

"We can be fundamentally satisfied for the year 2022 despite all the challenges - the disruptions in the supply chains and the massive price increases. Nevertheless, the past financial year also shows the necessity of continuing to work consistently on our cost optimisation projects," summarised CFO Christian Richter. Turnover grew by 10.7 % from 440.1 million to 487.1 million. This is a new sales record for Uzin Utz.

Earnings decline in the first quarter of 2023

The positive sales trend continued throughout the first quarter of 2023. The group of companies was able to record an increase in turnover of 4.2 %. Thus, consolidated turnover in the first quarter amounted to 121.2 million euros (116.3 million euros Q1/2022). Earnings before interest and taxes (EBIT), however, fell by 7.1 % from 8.5 million euros to 7.9 million euros. Reasons for the decline include the commissioning process of the new plant in Waco and the increase in personnel costs, due to inflation compensation and wage increases, as well as higher other operating expenses. 

Changes in the Supervisory Board

In addition, the Annual General Meeting approved the reorganisation of the Supervisory Board. Michaela Aurenz Maldonado, Managing Partner of ASB Grünland Helmut Aurenz GmbH, was newly elected to the Supervisory Board by the Annual General Meeting to succeed Frank-W. Dreisörner, Chairman of the Board of Directors of Alberdingk Boley GmbH. Mr Dreisörner is stepping down from the Supervisory Board after 26 years. "We would like to thank Mr Dreisörner for his contribution and commitment to our Supervisory Board. Over many years, he has helped to set the course for our company," said Dr. H. Werner Utz, Chairman of the Supervisory Board. "With Ms Aurenz Maldonado, we have been able to gain a manager of a family business who has proven experience in the field of sustainability. These are competences that are also of crucial importance for Uzin Utz. We as the Supervisory Board look forward to this enriching addition to the Board and to working with her", Utz continues.

Strategy

Despite economic challenges, the company's goals have not been lost sight of. The company has made substantial progress in implementing, developing and sharpening its sustainable business strategy. With the introduction of the PASSION 2025 corporate strategy, Uzin Utz has committed itself to clear sustainability goals. Four fields of action have been in focus every year since 2020 - Products&Services, People, Planet and Profit. 2022 was used to develop the core values, the principles and the common sense of direction (Purpose) in a global culture and values process with all employees. The guiding principle was to preserve what is good in the family business and to visibly emphasise new insights. 2023 is "Planet Year" at Uzin Utz. This means that the construction chemicals group is placing the reduction of climate-damaging CO2 emissions and resource-saving products at the centre of its activities.

Outlook 2023

For the 2023 financial year, Uzin Utz expects a further moderate decline in EBIT in view of continuing macroeconomic and industry-specific challenges. In terms of sales, on the other hand, moderate sales growth is forecast.

The most important voting results at a glance:

Dividend per share: 1.60 euros

Total dividend payout: 8,070,910.40 euros

Discharge of the Executive Board: 97.20