(AOF) – All of the resolutions submitted to the vote of Vilmorin & Cie shareholders were approved, with the exception of the twentieth resolution, which proposed a delegation of authority to the Board of Directors with a view to carrying out a capital increase social reserved for employees. The Board of Directors had not made any voting recommendation concerning this resolution, as employees also have other methods of profit-sharing.
The Combined General Meeting of Shareholders set the amount of the dividend at €1.60 per share, which corresponds to a payout rate of 39.8%, stable compared to 2020-2021. Constant in nominal value compared to the previous financial year, the dividend shows Vilmorin & Cie’s desire to pursue its policy in terms of the distribution of results, despite a highly disturbed general context.
The ex-dividend will take place on December 13, 2022 and its payment will be effective on December 15, 2022.
Despite market conditions that should remain uncertain and fluctuating, Vilmorin & Cie confirmed on this occasion its objectives for the 2022-2023 financial year.
The company is targeting an increase in consolidated turnover of between 6% and 8%, excluding the positive impact of the EGalim law, and a current operating margin rate of at least 8%.
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Find out more about the Agrifood sector
Soaring energy prices and a call for help
In the past, energy represented a fixed cost of 3% of turnover. This year, this percentage rises to 5% or even 7% for VSEs-SMEs, according to Ania (National Association of Food Industries). Professionals are very worried because until the end of 2022 they generally benefit from coverage to cushion these increases. However, they have not been renewed for 2023 and after. Consequently, 25 of the main inter-professional organizations (Intercereals, Inaporc, Semae, etc.) are calling on the State for help in the face of the erosion of their margins and their capacity to investment.
The State has proposed several devices, including an “electricity damper”, which are deemed insufficient. The organizations also deplore the failure of European negotiations to achieve a tariff shield to avoid distortions of competition. Agriculture and agri-food require a maximum ceiling price of €180/MWh, while many companies buy at prices above €500/MWh on the French market.