BAD VILBEL (dpa-AFX) - At the Ordinary Annual General Meeting of STADA Arzneimittel AG on August 30, 2017 in Frankfurt am Main, the Executive Board presented sound figures for financial year 2016 and a positive outlook for business development in 2017.
In addition to the strong organic growth - STADA launched 665 products around the world in the previous financial year - smaller selected acquisitions also contributed to the successful financial year 2016. The adjusted net income increased by 7 percent to Euro 177.3 million.
'Especially pleasing is the fact that, as a result, it was possible to reduce net debt by nearly Euro 100 million', said Dr. Bernhard D?ttmann, CFO at STADA. 'The ratio of net debt to adjusted EBITDA thus improved to 2.8 and was even below the declared target of 3.'
The approval of the actions of the Executive Board for financial year 2016 was postponed. The proposal to increase the dividend by 2 cents to Euro 0.72 for financial year 2016 was also approved. The submitted remuneration system for the Executive Board, which was again adjusted to new regulatory developments, was also approved by a large majority of the shareholders.
The Annual General Meeting also appointed auditing company PricewaterhouseCoopers GmbH as auditor of the consolidated financial statements for financial year 2017.
Around 250 shareholders representing 81 percent of the voting share capital attended this year's Annual General Meeting.
Copyright RTT News/dpa-AFX