Novem Group S.A.: Annual General Meeting approves dividend of €1.15 per share

Luxembourg, 24 August 2023 – The shareholders of Novem Group S.A. approved all agenda items at today’s Annual General Meeting (AGM) by a large majority.

The Group will therefore distribute a dividend of €1.15 per share for the financial year 2022/23. The dividend is composed of an ordinary dividend of €0.40 per share and a special dividend of €0.75 per share. This corresponds to a total payment of €49.5 million or 99.0% of the net income. Novem thus exceeds last year’s payout ratio of 39.1% significantly.

In total, 92.4% of the voting share capital was represented at the AGM. The voting results are available on the Investor Relations website under Corporate Governance/Annual General Meeting.

About Novem

Luxembourg-headquartered Novem is a globally leading supplier of decorative interior trim parts for the premium automotive industry. Across the range of key materials such as genuine wood, aluminium, carbon and premium synthetics, the Company offers unrivalled quality, technology and innovation to a growing customer base including all major premium carmakers worldwide. Founded in Vorbach, Germany, back in 1947, the Company has continuously expanded its global footprint in Germany, Italy, Czech Republic, Slovenia, China, USA, Honduras and Mexico. Novem employs about 5,500 people at 12 locations and achieved a revenue of around €700 million in FY 2022/23.

For more information, please visit www.novem.com.