In his speech, Staudigl looked at the company’s current challenges, but also highlighted the major opportunities offered by WACKER’s technology portfolio. “We are steadily strengthening our specialties portfolio with silicone applications,” said the CEO. “Even though the world economy is slowing at present, demand for many of our chemical products is high.” WACKER intends to invest some €400 million this year, mainly on capacity expansion at its chemical divisions.
According to Staudigl, difficulties lie not only in the global economic slowdown and challenging solar-market conditions, but also in Germany’s ever higher energy prices: “Last year alone, we had to cope with an increase of some €35 million in electricity prices. At present, the electricity price in Germany is more than 5 cents per kilowatt-hour. Our Chinese competitors pay less than 2 cents per kilowatt-hour. If we had the same electricity prices as in China, WACKER would be by far the world’s most efficient producer of high-quality polysilicon,” emphasized the CEO.
Staudigl remains optimistic about the company’s long-term future: “The current risks do not alter the fact that we think and act for the long term. WACKER has been successful on the market for 105 years. We have taken on challenges time and again, and mastered them well. Our actions are supported by our strong foundations. We have the right products, we develop innovative new products and technologies, and we hold leading positions in all of our key markets.”
WACKER is distributing a total of €124.2 million in dividends to its shareholders for 2018. The dividend per dividend-bearing share is €2.50. The Executive and Supervisory Boards’ other proposals were also adopted by large majorities.
Resolutions and Voting Results
At today’s Annual Shareholders’ Meeting, 41,204,951 voting shares were represented – 79.01 percent of all eligible shares (number of shares outstanding: 49,677,983). The voting results were as follows for agenda items 2 through 5:
Item 2: Resolution on the Appropriation of Net Retained Profit
The Executive and Supervisory Boards proposed that 2018’s retained profit of €1.48 billion be appropriated as follows: €124.2 million to be distributed to shareholders and €1.36 billion to be carried forward to new account. The proposal was adopted. The result was:
- 41,014,936 Yes votes (99.61 percent)
- 162,021 No votes
Item 3: Resolution on the Ratification of the Actions of the Executive Board
The proposal of the Executive and Supervisory Boards to ratify the actions of the members of Wacker Chemie AG’s Executive Board during 2018 was adopted. The result was:
- 40,238,829 Yes votes (98.55 percent)
- 592,423 No votes
Item 4: Resolution on the Ratification of the Actions of the Supervisory Board
The Executive and Supervisory Boards’ proposal to ratify the actions of the members of Wacker Chemie AG’s Supervisory Board during 2018 was adopted. The result was:
- 38,105,526 Yes votes (96.36 percent)
- 1,439,538 No votes
Item 5a: Appointment of Auditor
The Supervisory Board’s proposal to appoint KPMG AG as auditor for 2019 was adopted. The result was:
- 39,730,381 Yes votes (96.83 percent)
- 1,301,153 No votes
Item 5b: Appointment of Auditor
The Supervisory Board’s proposal to appoint KPMG AG as auditor for Q1 2020 was adopted. The result was:
- 39,729,841 Yes votes (96.83 percent)
- 1,301,375 No votes