Proposed profit appropriation for 2020
The Management Board has decided, with the approval of the Supervisory Board, to add €130.1 million of the profit to the Other reserves. The remaining profit of €93.8 million is at the disposal of the General Meeting of Shareholders. This equates to 45 percent of profit after tax, excluding incidental items after tax that did not generate cash flows in the 2020 financial year.
The dividend for 2020 was down by €19.8 million on 2019 owing to the lower net profit for 2020.