ATOSS AGM 2020

At today’s AGM of ATOSS Software AG, which for safety reasons due to the COVID-19 pandemic was held as a virtual meeting with no shareholders or authorized representatives physically present, the Management Board reported on the company’s positive development in business. For the 14th time in succession in financial year 2019, the Munich-based specialist in workforce management succeeded in setting new records for sales and earnings, once again demonstrating the high degree of stability and success of the company’s business model.

At the AGM, shareholders endorsed the management’s proposals, with all resolutions adopted by a large majority. The members of the Supervisory Board were confirmed in office and an increase in capital in the amount of EUR 3,976,568 out of company funds was approved with the issue of new shares in the ratio of 1:1. The company will provide more information regarding the date of implementation of the share split (issue of new shares) once the amendment to the articles of association providing for the increase in capital has been entered in the Commercial Register at the Municipal Court of Munich. The meeting also adopted the proposal to pay a dividend of EUR 2.55 (previous year: EUR 1.40). 

ATOSS Software AG therefore remains true to its dividend policy which provides for continuity and allows shareholders to enjoy a generous share in the company’s success. The cumulative amount paid out to shareholders over the past 18 years including some special payments adds up to EUR 28.07 per share. In addition to substantial growth in the ATOSS share price – well above the development in comparative indices – the annual dividend payments underscore the attraction of a long-term investment in ATOSS Software AG. Based on the closing price of ATOSS stock on December 30, 2019, this represents a dividend yield of 1.8 percent (previous year: 5.1 percent).

Even after the dividend is distributed on June 3, 2020, ATOSS will continue to have substantial liquidity well in excess of EUR 20 million at its disposal, with a strong equity base.

Supported by the gratifying start to the year and the sustained high degree of relevance of workforce management particularly in the current environment despite the effects of the coronavirus crisis, the Management Board stands by its forecast for financial year 2020 and continues to anticipate total sales in the order of EUR 80 million with an EBIT margin of around 25 percent.