Results for the Annual General Meeting of Scout24 are in and the numbers are a little different since the company had sold off its automobile arm in December of last year.
Highlights from the meeting include:
- Dividend of EUR 0.91 per share
- Share capital reduction through share buybacks of up to EUR 1.0 billion
- The go-ahead for further share buybacks
- Dr. Elke Frank is brought onto the Supervisory Board
Scout24 AG has approved all resolutions proposed by the administration resulting from large majorities during voting. The voting session of the online meeting included:
- Appropriation of unappropriated net income of Scout 24 AG for the financial year 2019 (99.92% approval)
- Approval of the acts of the Management Board for the financial year 2019 (99.96% approval)
- Approval of the acts of the Supervisory Board for the financial year 2019 (99.95% approval)
- Appointment of the auditor of the financial statements and the consolidated financial statements for the financial year 2020 (99.99% approval).
- Elections to the Supervisory Board (approval rates: Dr. Hans-Holger Albrecht: 76.82%, Christoph Brand: 98.22%, Dr. Elke Frank: 99.76%, Frank H. Lutz: 88.19%, Peter Schwarzenbauer: 98.60%, André Schwämmlein: 92.73%)
- Reduction of the registered share capital through redemption of shares after purchase by Scout24 AG (99.99% approval)
- Authorization to purchase treasury shares (97.31% approval)
- Creation of an Authorized Capital 2020 (91.95% approval)
- Approval of the profit and loss transfer agreement with Scout24 Beteiligungs SE (99.99% approval)
CEO Tobias Hartmann said:
"With ImmoScout24, we want to develop from a classifieds portal to a fully networked digital marketplace of the future. The ever-increasing interconnectedness opens up additional sources of revenue and associated growth opportunities for us. Our focus is on the further digitization of real estate transactions."
Dr. Dirk Schmelzer, CFO of Scout24 AG, said:
"Through the successful sale of AutoScout24 we have realized considerable cash proceeds, some of which we have already used to repay debt. We therefore have a very healthy balance sheet structure in the current Covid-19 crisis. We want our shareholders to participate in this, too. In addition to the current share buyback program and this year's dividend payment, we will distribute a further EUR 1.2 billion to our shareholders in the coming year."
Dr. Elke Frank succeeds Clara Smyth and has 20 years of management experience, bringing a veteran view to the company’s Board. She recently held management positions at Software AG, T-Mobile, Microsoft, and Carl Zeiss Vision.