ANNUAL GENERAL MEETING 30 June 2020 Page Agenda 1. Opening 2. - - PowerPoint PPT Presentation

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ANNUAL GENERAL MEETING 30 June 2020 Page Agenda 1. Opening 2. - - PowerPoint PPT Presentation

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Page ANNUAL GENERAL MEETING 30 June 2020 Page Agenda 1. Opening 2. Review 2019 ( discussion and voting points ) 3. Discharge of liability ( voting point ) 4. Remuneration policies ( voting point ) 5. Composition of the Supervisory Board

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ANNUAL GENERAL MEETING

30 June 2020

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Agenda

1. Opening 2. Review 2019 (discussion and voting points) 3. Discharge of liability (voting point) 5. Composition of the Supervisory Board (voting point) 4. Remuneration policies (voting point) 6. Designation of the Management Board to issue shares and exclude pre-emptive rights (voting point) 7. Authorization of the Management Board to acquire shares (voting point) 8. Any other business 9. Closing

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  • 1. Opening

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  • 2. Review 2019

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  • 2. a. Presentation by the Management Board on the financial

year 2019 (for discussion)

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Income statement

EUR million

2019 2018 change change fx adj. change Revenue and other income 2,690 2,379 311 13% 12% Gross profit 599 536 63 12% 11%

Gross profit in % of revenue 22.3% 22.5%

Operating EBITA¹ 225 202 23 11% 10%

Operating EBITA in % of revenue 8.4% 8.5%

Amortisation of intangible assets (44) (37) Non recurring items (4) (2) Net finance costs (27) (23)

Result before income tax 150 139

Income tax expenses (41) (39)

Result for the period 108 100 8 8% Cash Earnings per share (weighted) 2.85 2.53 0.32 13%

¹ Result from operating activities before amortization of intangibles and non-recurring items

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Cash EPS - proposed dividend

EUR million

2019 2018 change change Result for the year 108 100 8 8% Amortisation of intangible assets 44 37 Tax credits related to amortisation (3) (5) Cash earnings 149 133 17 13% Weighted average number of share (x milion) 52.5 52.4 Cash earnings per share (weighted) in EUR 2.85 2.53 0.32 13% Proposed cash dividend per share 0.90 0.80 0.10 13% Proposed dividend payment (x EUR milion) 47 42 Proposed pay out ratio 32% 32%

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Balance Sheet

EUR million

31 December 2019 31 December 2018 change Property, plant and equipment 29 25 4 Right-of-use assets 61 61 Intangible assets 1,141 1,040 102 Other fin. assets/def tax assets 40 47 (7) Working capital 436 400 36 Provisions/employee benefits (28) (31) 2 Deferred tax liabilities (77) (84) 6 Capital employed 1,602 1,219 383 Equity 867 786 80

Equity in % of capital employed 54% 60%

Loans and borrowings minus cash 735 611 125 Total financing 1,602 1,219 383

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Free cash flow

EUR million

2019 2018 change Operating EBITA 225 202 23 Depreciation 22 5 17 Operating EBITDA 247 208 39 Lease payments (22) (22) Share based payments 3 2 1 Adjusted Operating EBITDA 228 210 18 Capex (5) (4) (1) ∆ Working capital1 (1) (39) 39 Free cash flow 222 166 56

Cash conversion ratio 2 97.4% 79.3% 18.1%

¹ Inventories, Trade and other receivables and Trade and other payables

2 Free cash flow in percentage of Operating EBITDA

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  • 2. b. Renumeration Report 2019

(voting point – advisory vote)

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  • 2. c. Presentation by the external auditor on the audit of the

2019 financial statements (for discussion)

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  • 2. d. Proposal to adopt the financial statements 2019

(voting point)

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  • 2. e. Proposal to adopt a dividend of EUR 0.90 per share in

cash (voting point)

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  • 3. Discharge of liability

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  • 3. a. Discharge from liability of the members of the

Management Board for the performance of their duties in 2019 (voting point)

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  • 3. b. Discharge from liability of the members of the

Supervisory Board for the performance of their duties in 2019 (voting point)

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  • 4. Remuneration policies

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  • 4. a. Proposal to adopt the revised remuneration policy for the

Management Board (voting point)

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  • 4. b. Proposal to adopt a remuneration policy for the

Supervisory Board (voting point)

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  • 5. Composition of the Supervisory Board

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  • 5. a. Proposal to reappoint Janus Smalbraak (voting point)

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  • 5. b. Proposal to appoint Valerie Diele-Braun (voting point)

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  • 5. c. Proposal to appoint Amy Hebert (voting point)

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  • 6. Designation of the Management Board to issue shares

and exclude pre-emptive rights

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  • 6. a. Designation to issue shares (voting point)

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  • 6. b. Designation to restrict or exclude pre-emptive rights on

shares as described under 6.a. (voting point)

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  • 7. Authorization of the Management Board to acquire shares

(voting point)

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  • 8. Any other business

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  • 9. Closing

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