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Viscom AG announces exceptional dividend reduction to preserve its liquidity

Viscom AG (ISIN DE0007846867) has decided, at an extraordinary meeting of its board of directors on February 27, 2024, to propose to the Annual General Meeting a significantly reduced dividend payment for the financial year 2023 This measure comes following the signing of a company agreement on part-time work, in a context of difficult market forecasts and geopolitical uncertainties. The company therefore wishes to adopt a prudent approach in terms of managing its liquidity.

Last year, Viscom AG saw its liquidity impacted by the high cost of capital. Its clientele, mainly made up of electronics suppliers in the automotive sector, are expected to limit their investments during the first half of 2024. A recovery in demand is, however, anticipated for the second half of the year. As a result, an agreement was reached with the Works Council to introduce part-time work from March 1, 2024. Savings on material and investment costs are also planned.

A dividend reduction is part of this framework, with a proposed payment of €0.05 per share for the 2023 financial year to be presented at the AGM on May 29, 2024. This strategy would allow Viscom AG to maintain its position financial and its liquidity. The group's dividend policy of distributing 50% of consolidated net profit remains unchanged.

R. P.

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