Scout24 AG: Annual General Meeting approves first dividend payment since IPO
Berlin, 8 June 2017 – The Annual General Meeting of Scout24 AG (“Scout24“, “the Company” or together with its subsidiaries “the Group”) took place in Berlin on June 8. At the Meeting, shareholders representing more than72% of Scout24 AG's total share capital of 107,600,000 shares, were present. A key resolution referred to the first dividend payment by Scout24 since its IPO in October 2015, underlining the sound operating performance and sustainably strong financial position of the Group.
“Following a record year 2015, the Scout24 Group increased both its revenues and profitability in 2016. Based on this strong operating performance and strong cash generation, we have made rapid progress in deleveraging our balance sheet, and have thus reached our target leverage ratio faster than expected. Our operational strength is also reflected in the good refinancing conditions achieved at the end of last year, which have had an additional positive impact on our financial flexibility. As a consequence, we are able to distribute a dividend to our shareholders this year, earlier than originally planned,” said Christian Gisy, CFO of Scout24 AG, in his summary of the Group’s current financial position.
In addition, shareholders adopted the following resolutions:
• Resolution on formal approval of the acts (Entlastung) of the members of the Executive Board for the financial year 2016
• Resolution on formal approval of the acts of the members of the Supervisory Board for the financial year 2016
• Election of the auditor and Group auditor for the financial year 2016
• Authorization to purchase and use treasury shares
• Election of members of the Supervisory Board
• Change of Supervisory Board remuneration system
The address by CEO Greg Ellis focused on the evolution of the business model from a classifieds portal to a comprehensive market network. In this way, the Company is responding to changing market conditions and customer requirements in the digital world. Against this backdrop, the Management Board sees significant further growth potential for Scout24 along the entire value chain.
All resolutions of the Annual General Meeting were adopted by a great majority. The detailed voting results and the presentation on Agenda Item 1 are available for download on the Company's website at www.scout24.com/general-meeting.
With our leading digital marketplaces ImmobilienScout24 and AutoScout24 in Germany and across Europe we are inspiring people to make their best decisions on finding a home and a car. More than 1,000 employees are working on the success of our products and services, putting the consumers' needs first in order to create a connected network for living and mobility. Scout24 is listed on the Frankfurt Stock Exchange (ISIN: DE000A12DM80, G24). For further information, please visit www.scout24.com, our Corporate Blog andTech Blog or follow us on Twitter und LinkedIn.
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The information contained in this release is subject to amendment, revision and updating. Certain statements, beliefs and opinions in this document are forward-looking, which reflect the Company's or, as appropriate, senior management's current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any information contained in this press release (including forward-looking statements), whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this document.