Feb 7, 2014 - Emmen
ALSO Group: attains medium-term net profit target ahead of time
Although the CONTEXT market research institute reported a slight contraction (-1.2 percent) of the ICT distribution market, ALSO could boost net sales in the Central Europe market segment by 6.4 percent compared to the previous year, from 4,772 million euros to 5,076 million euros. In the Northern/Eastern Europe market segment, net sales fell by 4.1 percent compared to the previous year, from 1,669 million euros to 1,601 million euros.
Distribution to the shareholders
In view of the positive development and the good prospects for fiscal year 2014, the Board of Directors proposes that at the Annual General Meeting of March 13, 2014, the shareholders shall vote upon a disbursement of reserve from contribution in kind of 1.40 Swiss francs per registered share. This represents a payout ratio of 29 percent.
Elections to the Board of Directors and election of the Chairman of the Board of Directors
In accordance with the Swiss Ordinance against Excessive Compensation in Listed Stock Corporations, as from January 1, 2014, the Annual General Meeting elects each member of the Board of Directors and the Chairman of the Board of Directors individually each year.
The Board of Directors proposes the re-election of Walter P.J. Droege, Prof. Dr. Karl Hofstetter, Prof. Dr. Rudolf Marty, Frank Tanski and the new election of Prof. Dr. Peter Athanas, Dr. Olaf Berlien, Prof. Dr. Gustavo Möller-Hergt (also as Chairman of the Board of Directors in a separate single vote) as members of the Board of Directors, each until the end of the next Annual General Meeting.
Amendments to the Articles of Association of ALSO Holding AG will be proposed for the Annual General Meeting 2014 in line with the requirements of the Swiss Ordinance against Excessive Compensation in Listed Stock Corporations.
The complete financial statements and annual report for 2013 will be released at the analyst- and media-conference in Zurich on February 17, 2014.