Georg Fischer AG shareholders approve all proposals

Georg Fischer increased sales by 10 percent in 2006 to CHF 4.05 billion (previous year: CHF 3.7 billion), thus crossing the four billion threshold for the first time. Operating income (EBIT) once again improved by almost a third to CHF 327 million (previous year: CHF 252 million). The EBIT margin rose from 6.8 percent to 8.1 percent, which means the Corporation has achieved its earnings target a year earlier than planned. By relentlessly pursuing efficiency programmes, opening up new markets, achieving success in mature markets and launching innovative products and technologies, Georg Fischer has been able to capitalize on the favourable economic environment. Net debt was reduced to CHF 324 million (previous year: CHF 606 million). The Corporation closed the year with a profit of CHF 249 million (previous year: CHF 175 million), which corresponds to an increase of 42 percent.

The shareholders approved the 2006 Annual Report with the financial statements of Georg Fischer AG and the consolidated statements as per December 31, 2006 and granted discharge to the corporate bodies. The Annual General Meeting approved in particular the proposal of the Board of Directors regarding the appropriation of profit amounting to CHF 257,682,000 (to be carried forward to new account) and the distribution of the profit in the form of a nominal value repayment of CHF 25 per share.

Professor Gertrud Höhler, Gerold Bührer and Dr. Kurt E. Stirnemann, CEO, were confirmed as members of the Board of Directors for a further four-year term. The other members of the Board are: Martin Huber, Chairman; Bruno Hug, Vice Chairman; Dr. Roman Boutellier, Flavio Cotti, Ulrich Graf and Dr. Rudolf Huber und Zhiqiang Zhang.