sia Abrasives off to a good start in the new fiscal year (19/04/2006)
Annual Meeting approves all proposals
The sia Group recorded double-digit year-over-year sales growth for the first quarter of 2006. For the full year, the company expects both sales and earnings to reach the targets. The Annual Meeting of Stockholders held on April 19, 2006 approved all the proposals put forward by the Board of Directors. The dividend has been increased from CHF 8.00 to CHF 10.00.
In the first three months of 2006, sia Abrasives continued the solid business performance seen in 2005. First-quarter sales showed double-digit percentage growth. Order intake is well ahead of expectations. In light of the ongoing positive business trend, sia Abrasives expects to exceed its sales growth target of 4% to 6% for the current year. In terms of earnings, the company anticipates operating income before depreciation and amortization to come in at 15% to 17% of operating revenues.
Higher dividend paid
The 27th Annual Meeting of Stockholders of sia Abrasives Holding AG held at the Frauenfeld Stadtcasino on April 19, 2006 was attended by 303 stockholders holding 359,438 votes or 48.7% of the total registered shares entitled to vote. The Annual Meeting approved all the proposals put forward by the Board of Directors and discharged the Board of Directors and Executive Committee from liability for fiscal 2005. Stockholders will receive a dividend of CHF 10.00 per registered share, which represents an increase of 25% over the prior year and underscores the policy of sustaining an attractive payout. The Annual Meeting of Stockholders approved the annual report, company financial statements and consolidated financial statements for 2005 as presented. Peter A. Schifferle was elected to the Board for another three-year term. PricewaterhouseCoopers AG, Winterthur, will act as statutory and Group auditors for a further year.
Calendar of events (sia Abrasives)
August 2006: Publication of first-half results March 23, 2007, 9am: Annual press conference at SWX Swiss Exchange in Zurich March 23, 2007, 11am: Financial analysts’ conference at SWX Swiss Exchange in Zurich April 24, 2007, 4pm: Annual Meeting of Stockholders at Frauenfeld Stadtcasino April 30, 2007: Dividend payment
For further information
Peter A. Schifferle, CEO and Executive Director Gerhard Mahrle, CFO and Investor Relations Phone: +41 52 724 45 75 Fax: +41 52 724 45 70 E-mail: ir@sia-abrasives.com Internet: http://www.sia-abrasives.com/
® Correct nomenclature for sia Abrasives Holding AG
As there are other companies and organizations that use the same abbreviation as our company, we would be grateful if you could help to avoid any misunderstandings by always writing our name as follows: sia Abrasives (never just sia by itself).
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