|Emmen, Switzerland, 24 March 2020
ALSO AGM approves dividend.
2020 to date net sales growth of 11 percent.
The Annual General Meeting of ALSO Group (SIX: ALSN) approved the Annual Report 2019, all proposals of the Board of Directors and granted discharge to the Board of Directors and the Group Management. The shareholders also approved the 8th consecutive dividend increase. The dividend of CHF 3.25 per share will be distributed from the foreign capital contributions reserve and will be free of withholding tax. The decision to increase dividend is proof of the confidence the shareholders in the strength and resilience of the company.
The members of the Board of Directors, Peter Athanas, Walter P. J. Droege, Rudolf Marty, Frank Tanski, Ernest-W. Droege and Gustavo Möller-Hergt were re-elected for a further year in office. In addition, the shareholders approved the re-election of Gustavo Möller-Hergt as Chairman of the Board of Directors. Ernst & Young AG, Zurich, were elected as auditors for the financial year 2020.
The company is in an excellent position to meet current and future market challenges and opportunities. The determining factors for this are the clear strategy and its consistent implementation, the motivated teams, the versatile ecosystem, the good results of 2019, the significant improvement of cash and the signing of the revolving credit facility.
Until March 20, 2020, ALSO registered an increase in net sales of 11 percent. At present the company confirms the target for 2020. The reasons for this assesment are:
- the resumption of production in China
- the present confirmations of delivery for March and April
- an increased requirement of IT hardware, software and services due to home-based activities such as home office or home school
- the ALSO ecosystem, which constitutes a diversified and robust base for our business with its very diverse customer groups, countries, channels and product categories. Due to this fact for example the shift of net sales from retail to etail does not have any far-reaching consequences.
Gustavo Möller-Hergt, President of the Board of Directors and CEO of ALSO Holding AG, explains: «Since the beginning of January we have been monitoring the developments in connection with Corona very closely. Our target is to protect customers, partners and employees and at the same time safeguard inventories and supply chains, in order to supply our customers and achieve 2020's forecast. Due to Corona, the IT Industry gets a further surge in growth. We are pleased about this, however, at the same time we also know that one's own health and that of the family, solidarity and mutual support are just as important. This is why, in addition to internal measures, we have established a program for our resellers, providing them with fast and unbureaucratic support.»
Direct link to media release: https://www2.also.com/press/20200324en.pdf
Contact person for investors and financial media:
Alexandre Müller, Dynamics Group
Phone: +41 43 268 32 32
E-Mail: [email protected]
ALSO Holding AG (ALSN.SW) (Emmen/Switzerland) brings providers and buyers of the ICT industry together. ALSO offer more than 660 vendors of hardware, software and IT-services access to over 110 000 buyers, who can call a broad spectrum of other customized services in the logistics, finance, and IT services sectors, as well as traditional distribution services. From the development of complex IT landscapes, the provision and maintenance of hardware and software, right through to the return, reconditioning and remarketing of IT hardware, ALSO offers all services as a one-stop shop. ALSO is represented in 23 European countries and generates total net sales of approximately 10.7 billion euros with around 4 000 employees in the fiscal year 2019. The principal shareholder of ALSO Holding AG is the Droege Group, Düsseldorf, Germany. Further information is available at https://also.com
Droege Group (founded in 1988) is an independent advisory and investment company under full family ownership. The company acts as a specialist for tailor-made transformation programs aiming to enhance corporate value. Droege Group combines its corporate family-run structure and capital strength into a family- equity business model. The group carries out direct investments with its own equity in corporate spin-offs and medium-sized companies in «special situations». With the guiding principle «execution - following the rules of art», the group is a pioneer in execution-oriented corporate development. Droege Group follows a focused investment strategy based on current megatrends (knowledge, connectivity, prevention, demography, specialization, future work, shopping 4.0). Enthusiasm for quality, innovation and speed determines the company's actions. In recent years Droege Group has successfully positioned itself in domestic and international markets and operates in 30 countries. More information: https://droege-group.com
This press release contains forward-looking statements which are based on current assumptions and forecasts of the ALSO management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular the results, financial situation, and performance of our Group. The Group accepts no responsibility for updating these forward-looking statements or adapting them to future events or developments.