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General meeting approves all proposals with a large majority

May 21, 2014

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Media Release 21 May 2014, 06.30 p.m.



General meeting approves all proposals with a large majority



At HÜgli Holding AG's Annual General Meeting held in Arbon today, the shareholders approved all proposals of the Board of Directors with a large majority.They approved the annual report, the annual statement of accounts, the consolidated financial statements 2013 and the compensation report.With CHF 14.00 per bearer share, the dividend was set at a higher value.Moreover, the shareholders re-elected all members and the chairman of the Board of Directors as well as the members of the Compensation Committee as proposed.


The Chairman of the Board of Directors, Dr. Jean G. Villot, welcomed the numerous shareholders, and in his preliminary remarks presented the main factors responsible for the positive development in the financial year 2013.

CEO Thomas Bodenmann then explained the developments and achieved improvements of efficiency of the various international subsidiaries. He was convinced of HÜgli Group being well positioned and able to continue profiting from these measures. Thomas Bodenmann was also confident with regard to the financial year 2014. He anticipates 2014 to yield organic sales growth of +2.4%, which is on the level of the previous year, alongside a further increase of the EBIT margin.


Based on the Ordinance Against Excessive Compensation in Listed Stock Companies (OaEC), which came into force on 1 January 2014, the chairman and the members of the Board of Directors as well as the members of the Compensation Committee are elected individually for a term of one year until the conclusion of the next ordinary General Meeting. All previous members of the Board of Directors were re-elected. The General Meeting elected Dr. Jean G. Villot, chairman of the Board of Directors since 2011, for a further year. As all the members of the Board of Directors have joint responsibility for all tasks, all members were elected to the Compensation Committee. The statutory auditor OBT AG, St. Gallen was also re-elected. Andreas G. Keller, lic. iur. and a lawyer, was for the first time elected as independent proxy for a one year term.


The General Meeting approved the annual report, the annual statement of accounts, the consolidated financial statements 2013, and in an advisory vote also the compensation report for 2013. The shareholders confirmed a dividend of CHF 14.00 per bearer share which corresponds to a disbursement ratio of 32% of Group net profit. The dividend will be paid on 28 May 2014.The members of the Board of Directors and of Group Executive Management were granted discharge for the financial year 2013.





The Half-Year Report 2014 will be published on 20 August 2014 at 07.30 a.m.


For further information:

Andreas Seibold, CFO, Tel. +41 71 447 22 50, andreas.seibold@huegli.com



HÜgli - one group, many teams, one goal

HÜgli was founded in Switzerland in 1935. Today it is one of the leading European companies for the development, production and marketing of dry blends in the convenience segment such as soups, sauces, bouillons, ready to serve meals, desserts, functional food as well as Italian specialities.HÜgli caters to the kitchens of the professional out of home market (Food Service), manufactures products for brand companies (Brand Solutions) as well as for food retailers (Private Label). With its flavour-adding semi-finished products, HÜgli partners with food manufacturers (Food Industry) and sells own brands, mostly of organic quality, to consumers (Consumer Brands).More than 1'300 employees in 9 countries link HÜgli directly with its customers, and generate annual sales of around CHF 370 million.

www.huegli.com






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