• 22.04.2016
  • Space, Air, Land, Group
  • Media release

Dividend payable to the Swiss Confederation more than doubled to CHF 47 million

The 17th Annual General Meeting of RUAG Holding Ltd. was held yesterday (Thursday) in the new Space Hall in Emmen, Canton Lucerne. ...

Attending the meeting as the shareholder’s representative was Federal Councillor Guy Parmelin, Head of the Federal Department of Defence, Civil Protection and Sport (DDPS). The 2015 Annual Report of the international technology group was approved, and discharge was granted to the governing bodies. For 2016, RUAG is paying a dividend of CHF 47 million to the Swiss state, considerably more than the previous year's figure of CHF 21 million.

Chairman of the Board of Directors Hans-Peter Schwald had the following to say about the more-than-doubling of the dividend to CHF 47 million: "The Federal Council expects the profitability of RUAG to keep pace with that of comparable international technology companies. The Confederation is to have a greater share in RUAG's success, in that dividends are to be raised to bring them into line with the international industry standard.

All members of the Board of Directors were re-elected for a further one-year term of office.

RUAG has the basic mission of providing and maintaining the technical systems of the Swiss Armed Forces. Despite the appreciation of the Swiss franc and export embargoes, the Group substantially increased its earnings before interest and taxes in 2015, bringing the total to CHF 137 million (previous year: CHF 113 million). All five divisions operated profitably and contributed to the positive Group result. Sales decreased slightly to CHF 1,744 million (CHF 1,781 million) owing to the strength of the Swiss franc, while growth in local currencies came to 2.5%. The DDPS remains the largest and most important RUAG customer; in 2015 its share of sales rose – also in currency-adjusted terms – to 32% (30%).

KPMG AG was confirmed as the statutory auditor for a further term of one year.