Press release from the Annual General Meeting of Hexagon
3 May 1999
The annual general meeting of Hexagon which was held today on 3 May 1999 in
Stockholm
was attended by roughly 200 participants. At the meeting, the customary
matters were dealt
with, including the disposition of the earnings from 1998 and the election
of Members of the
Board of Directors.
Dividend
The annual general meeting decided to approve dividend to SEK 5.00 (5.00)
per share, which
is in agreement with Hexagon´s dividend policy. The dividend constitutes
36% (26) of the
earnings per share after full tax and 5.1% (5.5) of the Group´s adjusted
shareholders´ equity.
As recordal day for the dividend, 6 May 1999 was approved, and it is
expected that dividend
will be paid on 14 May 1999.
Election of Board of Directors
Board Members Maths O Sundqvist, Börje Andersson, Hans Nergårdh and Sven
Ohlsson
were re-elected. Melker Schörling and Carl-Henric Svanberg were elected as
new Board
Members.
President Börje Andersson´s address to the Meeting (abstract)
Börje Andersson began by ascertaining that, over the last five year period,
the Hexagon
Group had increased its earnings from MSEK 129 to MSEK 313 and that
invoicing had risen
from SEK 1.6 billion in 1994 to close on SEK 5.0 billion in 1998.
The earnings outcome for 1998 rose by 3% from MSEK 304 to MSEK 313,
excluding the
capital gains item of MSEK 84 which arose in connection with the Stock
Exchange listing of
Svedbergs in 1997.
The earnings outcome for the first quarter of 1999 amounted to MSEK 58
(63). The
slowdown in the economy as well as the inflow of orders which made their
presence felt
towards the end of 1998 has continued and negatively affected invoicing.
In conclusion, Mr. Andersson made the following forecast for the whole of
1999:
“Against the background of the weak inflow of orders and the prevailing
economic climate of
the first quarter, earnings for 1999 are assessed as amounting to a
considerable shortfall in
comparison with last year.”
HEXAGON AB (publ)
- Press release from the Annual General Meeting of Hexagon
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