Deufol SE

Annual Results 2023 - Seite 2

Capital expenditures and operating cash flow at solid previous year’s level

At € 5.8 million, the capital expenditures in the past financial year were slightly below the previous year's figure (€ 6.4 million). Investments focused mainly on property, plant and equipment and in particular on land and buildings as well as plant, operating and office equipment. Net financial liabilities increased slightly by € 1.5 million to € 72.5 million at the end of the reporting year. While the balance of liabilities to banks and sight deposits with banks was significantly reduced from € 36.8 million in the previous year to € 27.7 million, other financial liabilities increased from € 34.3 million to € 44.9 million, primarily due to the recognition of rental and leasing liabilities. On the one hand, exposed locations were secured in the long term and, on the other, the Deufol Group was able to increase the necessary scope for investments in growth initiatives thanks to the improved liquidity position in conjunction with the long-term securing of Group financing.

At € 35.5 million, operating cash flow in the reporting period was slightly higher than the previous year's figure (€ 35.1 million). The above-mentioned settlement agreement had a net effect of € 3.0 million on cash inflows in the reporting year. In working capital, the positive effects from the reduction in inventories in the amount of € 1.8 million (previous year: increase of € -0.2 million) more than compensated for the liquidity burden from the increase in trade receivables with a simultaneous decrease in trade payables of € -1.1 million (previous year: positive effect of € 0.5 million).

Proposal for the appropriation of profits

The Managing Directors and the Board of Directors propose that net retained earnings of Deufol SE for fiscal year 2023 in the amount of € 16.4 million be used to distribute a dividend of € 0.06 and an additional special dividend of € 0.04 per dividend-bearing share, i.e. a total of € 0.10 per dividend-bearing share; this corresponds to a total appropriation of profits of € 4.3 million. The remaining amount of € 12.1 million is to be carried forward.