Proposed profit appropriation for 2021
The Management Board has decided, with the approval of the Supervisory Board, to add €140.4 million of the profit to the Other reserves. The remaining profit of €101.1 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 2021 financial year. An adjustment has been made for the offsetting pursuant to Article 15.1 of the convertible fixed interest shareholder loan agreement.
The dividend for 2021 is up by €7.3 million on 2020 owing to the higher net profit for 2021.