Revenues totalled €2.77bn, down 12.8 per cent compared to the financial year 2002, operating income of €124.8m, net income of €61.5m and basic earnings of €0.69 per €0.50 ordinary share. Before impairment of fixed assets operating income amounted to €150m, down 33.6 per cent, and net income amounted to €82.1m, down 27.1 per cent.
It will be proposed to shareholders to adopt a dividend for the 2003 financial year of €0.58 (2002: also €0.58) per ordinary share of €0.50 nominal. Upon adoption of this proposal the final dividend per ordinary share for 2003 will be €0.43; the interim dividend amounted to €0.15. It is proposed to pay out the final dividend fully in cash. The dividend will be made available for payment as from March 18, 2004.
At the Annual General Meeting of Shareholders to be held in Venlo on Tuesday, March 2, 2004, a number of proposals are to be put forward to shareholders. These include:
• to adopt the financial statements for the 2003 financial year;
• to approve the dividend for the 2003 financial year;
• to grant release and discharge of the Executive Board;
• to grant release and discharge of the Supervisory Board;
• to approve the remuneration policy of Executive Directors;
• to approve the share plan of the Executive Directors;
• to approve the reserves and dividend policy;
• to authorise the Board of Executive Directors to issue shares;
• to authorise the Board of Executive Directors to restrict or preclude the pre-emptive right in respect of ordinary shares;
• to authorise the Board of Executive Directors to purchase shares in the Company’s own capital;
• to grant Mr. L.J.M. Berndsen an honourable release and discharge as Supervisory Director;
• to appoint Mr. M. Arentsen as member of the Board of Supervisory Directors.
The Corporate Governance policy will also be discussed during this meeting.
The Océ annual report is available on the internet at www.oce.com and will be available in printed form this month.
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