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2007 annual shareholders’ meeting of Drägerwerk AG:
conversion into a partnership limited by shares approved / higher dividend for 2006 / double anniversary: innovative and international for the last 100 years / high research and development expenditure |
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| Lübeck, May 11, 2006 – At today’s annual shareholders’ meeting held in Lübeck, the shareholders of Drägerwerk AG agreed to the proposal of the Supervisory Board and the Executive Board to distribute a higher dividend of EUR 0.55 (prior year: EUR 0.50) per preferred share and EUR 0.49 (prior year: EUR 0.44) per common share for 2006. |
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| Around 1,500 shareholders flocked to the Lübeck Music and Congress Center and were pleased that the Dräger Group has continued to perform well, with revenues up 10.5 percent to over EUR 1.8 billion, EBIT up 15.6 percent to EUR 148.2 million and a record of EUR 73.9 million in consolidated net profit, a rise of 24 percent. Research and development expenses amounted to EUR 118.0 million, which again amounts to 6.6 percent of revenues. |
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| The proposal to convert the legal form of the stock corporation (AG) to that of a partnership limited by shares (KGaA) was also approved by the shareholders’ meeting. Executive Board Chairman Stefan Dräger explained the reasons for this change: “We are convinced that the change in legal form will give the Company greater financing and operating leeway and that the legal form of a partnership limited by shares is better suited to implementing Dräger’s long-term strategy than that of a stock corporation. The greater flexibility this brings will allow us to achieve our long-term growth objectives and strategies and thus to further increase the value of the business in the long term.” |
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| The Dräger Group grew faster than the market again in fiscal year 2006: innovation, process improvements and further internationalization of our organization and business remain key to the success of the Group. In the foyer of the Music and Congress Center, shareholders had the opportunity this year to view an extensive exhibition documenting 118 years of successful Dräger company history. The focus was on two important anniversaries: one hundred years ago, Dräger was awarded the patent for the first mobile short-term respirator - the Pulmotor marked the beginning of a long series of Dräger innovations in ventilation. And our international focus also began 100 years ago - when Dräger founded its first US branch in New York. Today, Dräger is represented in 190 countries around the world. |
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This press release contains forward-looking statements regarding the development of the Dräger Group. No assurance can be given as to the content of these statements as they are based on assumptions and estimates that entail certain risks and uncertainties. |
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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